Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-01-22
NICARAGUA CANAL BILL
Only Six Votes Against it in the
Senate.
The Provisions of the Bill as IL Pnssed
Company Authorized 10 Contract
for Completion of tho Canni-Ncu-
tratity Guaranteed.
(By Telegraph to vlrGin:an-Pno,,

Washington, Jan. 2l.-The Senate to-
day passed the Nicaragua Canal bill:
decided to make the Anti-Scalping bin
the unfinished business and continued
without completion the consideration OF
| the Indian Appropriation BILL a num-
| Der of amendments were made 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 a
roll call on it developed only six votes
in opposition 10 final passage.
The six votes against the bill were
cast by Senators Bate. Caffery. Cock
rell, Mantle, Martin and Smith
ANTI CALPING BILL.
! The AntScalping bill was taken UP
on vote OF 80 to Il, but no effort was
| then made to continue its considera-
| ton. The effect of the vote was To give
it the first place on the calendar but
the understanding IS that II shall not
be pressed in opposition 10 the peace
treaty or the appropriation bills.
The House bill to construct n bridge
across the Savannah river from the
mainland to Hutchinson island, was
passed.
CANAL. BILLS PROVISIONS.
The Nicara qua Canal bill as it pass
cd continues the name or the Maritime
Canal Company. 1t provides for the is
suance of $1,000. 900 shares OF stock at
500 each The canal company Is re-
quired to call in all the stock issued
except that held by the Nicarag qua and
Costa Rican governments. The COM
pany is also required to redeem and
cancel all bonds and scrip heretofore is
SIZED by the company and to satisfy
all cash liabilities. TO enable the com
pany to comply with this requirement.
treasury warrants to the amount OF
1000. 600 are authorized with n proviso
to the effect that only so much of the
amount shall be paid as shall lie re-
CURED to pay the actual cash value Of
the rights. privileges, frauchises and
property at the time of the povmont
the value to be determined by com
missioncrs 10 be appointed by the
President This being done the Secrc-
tary Of the Treasury is authorized to
subscribe for 925,o00 shares Of the com
pany stock for the Government of the
United States
The present members of the Board Of
| Directors are then to resign and n
beard OF seven is 10 be appointed in
! their stead, consisting of five on be-
I half Of the United States and one each
on behalf of Nicaragua and Costa Rica.
I The directors on behalf of the United
/ .7.t'tH III = " be appointed by the
President and confirmed by the Senate.
/ No two Of them are to he 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. oxcept
! the President, is to receive n salary OF
$4,000 per year and the President is to
have $4,000. All travelling expenses are
to BE- paid. Annual reports are re-
| CURED.
There is a provision against declaring
dividend except upon the net earn
! ings
AUTHORIZED TO COMPLETE
CANAL.
The company is authorized to con.
| tract for the completion Of the cana
| within six years. The payments arr
restricted TO o.0O0, 600 annually. The
canal is to be large enough for the
use of the largest sea- going vessels al
n cost not to exceed the estimate OF
the engineers and not to exceed Sis.
o00000.' This amount is made a per.
manent appropriation Tor the work. Il
be used as occasion may require. TIL,
bill gives the government n lien upor
the property to secure the repayment
of the moneys advanced and the Presi
don't ie aronowared IN daclora f,reot.,,s