Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-01-19
THE MARITIME CANAL COMPANY.
Hearing Before the House Commerce
Committee.

The Maritime Canal Company represent
ing the old concession for building the Mic
araguan canal, had hearing today before
the commerce committee of the House, in
accordance with the plar to hear all parties
concerned. There was added interest in the
hearing, in view of the statements before
the committee within the last two days by
the representatives of the new Panama
Canal Company, and by the Cragtn-Grace
syndicate.
The Maritime company was represented
today by its president, Hiram Hitchcock,
the president of the construction company,
j. w. Miller, and the solicitor of the COM
pany, Mr.. A. T. Mason. Prof. Haupt, one
of the Nicaraguan canal commission, was
present to present engineering features in
VOWED, and ex-senator Warner Miller,
former president of the Maritime Canal
Company, was also present.
President Hitchcock opened the hearing
with a historical review of what had been
done, particularly referring to the course of
MIR. Blaine, when Secretary of State, to
protect the interests of the concession held
by the company.
Mr.. Hitchcock referred to a conference
with Secretary Sherman. 1t which time the
Secretary of State gave assurance that the
administration would endeavor to protect
the rights of the company against arbitrary
forfeiture, and TO secure the building of the
canal. At another conference with the
president the latter expressed the desire
that the status quo be maintained until the
Walker commission reported and Congress
dealt with the subject.
Mir. Hitchcock then took up the organiza-
ton OF the Cragin-Grace syndicate and stat
ed that his understanding was that owing
to discouragements the syndicate had dis
solNed prior to the time when the contract
tor the concession was secured He de-
clared that the last concession was a yio
Iaton OF the rights and interests of the
Maritime company and OF the United States
government. In answer to an inurIirv &C
to who made up the original syndicate in
terested IN getting a new concession Mr.
Hllchcock said his understanding was thai
MI Wins and Mr.. Grace of New York wer,a
the main figures.
Was the syndicate hostile to YOUR inter
ests?' asked Mr. Corlss
Anything that would interfere with .h
rights and interests of the company and of
the United States would to that extent he
hostile to U.S. he replied
Unloading on the Government.
Mr. Stewart referred to the report of
the Secretary of the Interior to the ef
feet that this project was so prodisfons
that 1t should be built by the government
and he asked Mr. Hitchcock if the comnapI
mad gone into this plan with visw of nm
loading It on the government.
~, af, n Il.tchcock answered positively in
the negative. There had never been s,,cb
q purpose he said. The entarprisa v,oS
started with no anticipation of the aleu-
ties encountered in securing concessione
rights OF way, etc. Senator Edp1np5s "a
inaugurated the movement for fba s.E l,1u
olution. ~ " 'Ni4ate res
Inc finances Of the company and the
amounts OF cash ii had actually Spent vera
inquired into infinitely by members % ~
committee; also the relations between III
Matltime company and the constructfoo
LIN !. 100 me latter had spent something
over S4on.o0O and the Maritime cornnanY
something over S1.oO0.ooO outside of car
tain stock and bond transfers
MT Hitchcock said if the government
TOOK up the work he believed thu counanv
could retire such stocks and bonds as were
Outstanding, except those held By Nfcara
qua and Costa Rica. OF the amounts Ia ba
stnIs ABOUT $4,000 Of certain classes of
by arrangement with the holders.
He believed this could be done bu+ he
repled TO Chairman Hepburn thar he co,iI5
Llot give the positive promise TO the com
mlttee that 1t would be done if the govern
ment took hold of the project
MI Barham Of California stated that he
understood some of the stock was held by
the representatives of deceased neonIe IN
fants, idiots. &c, who could not be raacb-
ed, SO that the government could not get
the plant free from all claims.
MT Hitchcock said he was confident this
could be ARA aged.
Objections to the Panama Canal
What do you think of the Panama canal
Ia its effect on your canal?' Mr. Hitchcock
was asked.
Il am told by eminent engineers who
have examined the subject that 1t will cost
$40o0000o0 to complete the Panama canal .,
he said, land when 1t is completed If will
be imperative fol the reason that n win
De impossible i'm certain seasons TO control
the summit level and operate the locks"
He specified four main reasons why the
Nicaragua route was better than the Pam
anna route, VIZ: First, because NrnS
the lowest depression in the mountains be-
tween North and South America; second
at the summit level there is a large lake
assuring adequate water for the locks
third. II is the center of the great rainfan.
fourth, 1t is In the line of the trade winds
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