The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-22
United States Government to Sub
scribe for 025,0OO Shares and to
Control Board of Directors.
NEUTRALITY IS GUARANTEED
PAYMENTS ON WORK TO BE RE
STRICTED TO S2O.OOO,OOO A YEAR.
President Empowered to Accept An
other Route if Nicaragua and Co.'S
ta Rica Make Trouble.

| WASHINGTON, Jan. 2.-The Senate to-
day passed the Nicaragua canal bill, decided
| to make the anti-scalping bill the unfinished
| business and continued without completion,
| consideration of the Indian appropriation
bill. A number of amendments were made to
! the Nicaragua canal bill and there were
! innumerable short speeches during the day
! There was, however, no opposition to vote
when the time came and roll call on it
developed only six votes in opposition to
final passage. The anti-scalping bill was
taken up on a vote of SO to 21 but no effort
was then made to continue its consideration.
The effect 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 appro-
priation bills.
The Nicaragua canal bill as it passed con-
tinues the name of the Maritime Canal Com
pany. 1t provides for the issuance of 100000
shares of stock of 500 EACH The canal COM
pany is required to call in all the stock is
sued, except that held by the Nicaragua and
Costa Rica governments. The company is
also required to redeem and cancel all bonds
ana scrip heretofore issued by the company
and to satisfy all cash liabilities. To enable
the company to comply with this require
ment treasury warrants to the amount of
S500O,000 are authorized, with a proviso to
the effect that only so much of the amount
shall be paid shall be required to pay
the actual cash value of the rights, privi-
leges, franchises and property at the time
of the payment, the value to be determined
by commissioners to be appointed by the
President. This being done the secretary of
the treasury is authorized to subscribe for
925,0O0 shares of the company's stock for the
q 80
ent members of the board of directors are
then to resign and a board of seven is to
be appointed in their stead, consisting of
five on behalf of the United States and one
each on 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 residents 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, except the president,
is to receive a salary of 5000 per year and
the president is to have $6,OO0 All travelling
expenses are to be paid. Annual reports are
required There is a provision against de-
claring a dividend except upon the net
earnings.
$4,000, 900 A YEAR.
The company is authorized to contract for
the completion of the canal within six years.
The payments are restricted to $50, 900 600 an
nually. The canal is to be large enough "for
the use of the largest seagoing vessels, at
cost not to exceed the estimate of the
engineers and not to exceed $115, 200 ,0OO."
This amount is made a permanent appro-
priation for the work. to be used as occa-
sion may require. The bill gives the gov
ernment lien upon the property to secure
the repayment of the moneys advanced, and
the President is empowered to declare for
feiture of the property to the United States
without the necessity of judicial or other as
certainment. Thereafter full title is to rest
in the government of the United States
The President is authorized to suspend pay
ments at any time. The President is also
authorized to secure any change in or mod
ificaton of the terms CT the concession either
from the concessionaires or from Nicaragua
and Costa Rica. In case of failure in such
negotiation, the President is also empowered
to negotiate for another route across the
isthmus He is further requested to open
negotiations for the abrogation of the Clay
ton-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 Interrupt
tions of business beween the Atlantic and
Pacific coasts of the United States is re-
ser yed.
At the opening of the session to-day Mr.
Mcmillan, Of Michigan presented the ere
dentials of julius Caesar Burrows, reelected
a senator from Michigan for a term of six
years, beginning March 4. 1899 They were
filed.
The resolution offered yesterday by Mr..
Caffery of Louisiana, requesting from the
President any information he may have re-
ceived from agents or representatives of the
so-called Philippine republic, relative to
conditions in the Philippine islands, was
laid before the Senate. Mr.. Caffery said
the resolution was very important. He
thought it likely that the statements con-
corning the conditions in the islands made
in the public prints were true If they were
true the question of fact concerning the
islands had an important bearing upon the
pending peace treaty. The resolution was
adopted.
MINOR BILLS PASSED.
The following bills were passed: Grant
ing to the Clearwater Valley Railroad Com
pany a right of way through the Nez Perces
Indians in Idaho: authorizing the ST Louis,
Sloan q Southern Railroad Company, of
Missouri and Arkansas, to construct a
bridge across the White river. in Arkansas;
extending the privilege of immediate trans
pcrtaton of dutiable goods to the port of
Astoria, ore. providing for the purchase Of
site and the erection of a public building
thereon at New Brighton, Pa, at a cost
not to exceed $4,000: granting $1,000 to
Mary A. Swift, widow Of the late United