The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-01-22
SENATE PASSES
THE CANAL BILL
Provision for Nicaragua
Waterway.
MILLIONS TO BE EXPENDED
GOVERNMENT SECURED BY LIEN
AND TO HAVE CONTROL.
The Measure Provides That the Work
Is to BE Carried Out at an Ex-
penditure of One Hundred
and Fifteen Millions.
MILLIONS TO BE EXPENDED
GOVERNMENT SECURED BY LIEN
AND TO HAVE CONTROL.
Special Dispatch to The Call.

WASHINGTON, Jan. 21-The Senate
to-day passed the Nicaragua canal bill,
decided to make the anti-scalping bill
the unfinished business and continued
without completion the consideration of
the Indian appropriation bill. A num-
Der of amendments were made to the
Nicaragua bill, and there were innum-
cradle short speeches during the day
There was, however, no opposition to
a vote when the time came and roll
call on 1t developed only six votes in
opposition to final passage. The anti
scalping bill was taken up on a vote of
80 to II, but no effort was then made
to resume the consideration. The re-
suit Of the vote was to give it the first
place on the calendar, but the under
standing is that it shall not be pressed
in opposition to the peace treaty or the
appropriation bills.
The Nicaragua canal bill as it is
passed continues the name of the Mar
thine Canal Company. 1t provides for
the issuance of 10000 shares of stock
at 500 share. The canal capital is
required to call in all the stock issued
except that held by the Nicaraguan and
Costa Rican governments. The COM
pany is also required to redeem and
cancel bonds and script heretofore is
sued by the company and to satisfy all
cash liabilities. To enable the COM
pany to comply with these require
ments treasury warrants to the amount
of 100000 are authorized with a pros
viso to the effect that only so much
of the amount shall be paid as shall
be required to pay the actual cash
value of the rights, privileges, fran
chises and property at the time of the
by commissioners to be appointed by
the President. This being done, the
Secretary of the Treasury is author
lied to subscribe for $4,000 shares of
the company's stock for the Govern
ment of the United States. The present
members of the board of directors are
then to resign and board of seven is
to be appointed, consisting or five, in
behalf 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 President and confirmed by the
Senate. No two of them are to be res
idents of any one State, and no person
who has heretofore been interested in
the canal company is to be appointed
to this office. They are also prohibited
from being interested in contracts on
the canal. Each of the directors ex-
cept the president is to receive a sal
airy of $4,000 year and the president is
to have $4,000. All travelling expenses
are to be paid. Annual reports are re-
quired. There is a provision against
declaring a dividend except upon the
net earnings. The company is author
lied to contract for the completion of
the canal within six years. The pay
ments are restricted to 20,000.000 an
nually. The can2i u TO be large enough
"for the use of the largest sea going
vessels, at a cost not exceeding the esti-
mate of the engineers and not to exceed
SIZE, 900 000'
This amount is made a permanent
appropriation for the work, to be used
as occasion may require. The bill gives
the Government lien upon the prop
erty to secure the repayment of the
moneys advanced, and the President Is
empowered to declare forfeiture of the
property to the United States. without
the necessity of judicial or other ascer-
tainment The President is authorized
to suspend payments at any time. The
President is also authorized to securs
any change in or modification of the
terms of the concession either from the
concessionaires or from Nicaragua and
Costa Rica. In case of the failure in
such negotiations the President is also
empowered to negotiate for another
route across the Isthmus. He is fur
Their requested 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 the construction of the canal. The
neutrality of the canal is guaranteed,
but the right to protect it against the
Interruptions of business between the
Atlantic and Pacific coasts of the
United States is reserved.