The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-01-24
THE NICARAGUA CANAL BILL
The Senate Passes This Measure Oniy
Six Votes I'm the Negative-The Fro.
visions Of the Bill

! The Senate Passes This Measure Only
SIX Votes I'm the Negative-The Pro.
visions of the Bill
Washington, January 21.-The sem
ate today passed the Nicaragua cana.
| bill. decided to make the anu-scalping
bill the unfinished business and con-
tinued. without completion, the consio.
Grafton of the Indian appropriation
bill A number of amendments were
offered to the Nicaragua canal bill,
and there were innumerable short
speeches during the day. There was,
however, no opposition to a vote when
the time came and roll call on it de-
Veloped only six votes in opposition 10
final passage. The six votes against
the bill were cast by Senators Bate
Caffery, Cockrell, Mantle, Martin and
Smith.
The anti-scalping bill was taken up
on a vote of SO to 10, but no effort was
then made to continue it's considera-
ton. The effect of the vote was to
give it the first place on the calendar,
but the understanding is that it shall
not be pressed in opposition to the
peace treaty or the appropriation bills
The house bill to construct a bridge
across the Savannah river from the
passed. 4
The Nicaragua canal bill as it pass
ed continues the name of the MARI
time Canal Company. 1t provides for
the issuance of 100000 shares of stock
at 800 each. The canal company is
required to call in all the stock issued
except that held by the Nicaraguan
and Costa Rican governments. The
company is also required to redeem and
cancel all bonds and scrip heretofore
issued by the company and to satisfy
all cash liabilities. To enable the COM
pany to comply with this requirement.
the treasury warrants to the amount
Of S., 900, 900 are authorized with a pro-
viso to the effect that only so much OF
the amount shall be paid as shall be re-
quired to pay the actual cash value OF
the rights, privileges, franchises and
property at the time OF the payment,
the value to be determined by commits
sioners to be appointed by the presi-
dent This being done, the secretary
of the treasury is authorized to sub
scribe for 925,000 shares Of the COM
pany's stock for the government of
the United States.
The present members of the board
of directors are then to resign and
board of seven is to be appointed in
their stead, consisting of five on be-
half of the United States and'one each
in behalf of Nicaragua and Costa Rica.
The directors on behalf of the United
States are to be appointed by the pres
ident and confirmed by the senate. No
two of them are to be residents OF any
one state and no person who has here
tofore been interested in the canal COM
pany is to be appointed to this office.
They are also prohibited from being
interested in contracts on the canai .
Each of the directors, except the pres
ident, is to receive a salary Of $4,000
per year and the president is to have
&c. 600. All travelling expenses are to be
paid. Annual reports are required.
There is a provision against declar-
ing a dividend except upon the net
earnings. The company is authorized
to contract for the completion of the
canal within six years. The payments
are restricted to $20,0000 900 annually.
| The canal is to be large enough for
the use of the largest sea-going vessels
at a cost not to exceed the estimate
of the engineers and not to exceed
s115, 900 900 This amount is made a per-
manent appropriation for the work, to
be used as occasion may require.
The bill gives the government lien
upon the property to secure the repay
ment of the moneys advanced and the
president is empowered to declare for
feiture of the property to the United
States, without the necessity of judi
cal or other ascertainment. Thereaf-
ter full title is to rest in the govern
ment of the United States. The presi
dent is authorized to suspend payments
at any time.
The president is also authorized to
secure any change in or modification
of the terms of the concession either
from the concessionaires or from Mica
ragua and Costa Rica, In case of fail
ure in such negotiation the president
! is empowered to negotiate for another
route across the isthmus. He is fur
| ther required to open negotiations for
| the abrogation of the Clayton-Bulwer
| treaty or any other treaty found to
| be in existence and standing in the way
! of constructioNbf the canal.
The neutral = of the canal is guar
| anteed, but The right to protect it
| against the Interruptions of business
| between the Atlantic and Pacific coasts
| of the United States is reserved.
| At 4:30 o'clock, p. M, the senate
| went into executive session and at 4:42
! p. m. adjourned