The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1899-01-22
of This Vast Amount the United
States Win Take Up
$e2,5OO, 900.
COMMISSION PROVIDED FOR
Five From America ana One Each
From Nicaragua and Costa Riea-
Canal to Be Neutral

WASHINGTON. Jan. n.-The senate to-
day passed the Nicaraguan canal bill.
and decided to make the ant-scalping
bill unfinished business. A number Of
amendments were made 10 the Niearagu-
an bill, and there were lnnumerable short
speeches during the day. There was.
however, no opposition to the vote when
the time came. and rollcall on II de-
veloped only six votes in opposition to
its final passage. The anti-scalplng bill
was taken up on vote OF % to q, but
no effort was then made 10 resume con-
slderation- The result OF the vote was to
give It first place on the calander but
the understanding is that it shall not
be pressed In opposition TO the peace
treaty Of the appropriation bills.
The Nicaragusn bill as It passed con-
tinues the name OF the Maritime Canal
Company. 1t provides for the issuance
OF 10000 shares Of stock al slOU eacn
The canal company IS required 20 call
in all stock issued except that held BY
the Nicaraguan and Costa Riean govern
nents. The company is also required to
redeem and cancel the bonds and script
heretofore issued by the company and
20 satisfy all cash Liabilities. To enable
the company TO comply with these re-
Quirements, treasury warrants to the
amount Of $4,000 are authorized. with
a proviso 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. franchises and
property at the time Of 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
$4,000 shares OF the eompany's stock for
the government OF the United States.
The present members OF the board OF
directors are then to resign and a board
OF seven is to be appointed, consisting OF
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 sen
ate. No two of them are to be residents
OF any one state. and mo- person who has
heretofore been interested in the canal
company is to be appointed 10 this office.
They are also prohibited from being in
terested in contracts on the canal. Each
of the directors, except the president, is
TO receive a salary of 5000 a year, and
the president is to have $1,000. All travel
ing expenses are to be paid, and annual
reports are required. There is a pro
vision against declaring a dividend ex-
cept upon net earnings. The company
is authorized TO contract for the COM
! pletion of the canal within six years.
! Payments are restricted to s20.000.O00
annually The canal is to be large
/ enough for the use of the largest sea-
going vessels at a cost not exceeding the
estimate of engineers and not to exceed
! $40 600"
| This amount is made a permanent ap-
preparation for the work, TO be used as
the occasion requires. The bill gives the
government a lien upon the property to
secure repayment of the moneys ad-
vanced. and the president is empowered
TO declare the forfeiture of the property
to the United States without the neces-
| sity of judicial or other ascertainment
The president is authorized to suspend
payments at any time. He is also author
lied TO secure any change in or modifica-
tons of the terms of concessions, either
from the concessionaires or from Mica
ragua or Costa Rica. In case of failure
in such negotiations, the president is
also empowered to negotiate for another
route across the isthmus. He Is further
required TO open negotiations for the alb
rogation of the Clayton-Bulwer treaty,
or any other treaty found to be in ex-
isuence 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 Interruptions of busi-
ness between the Atlantic and Pacific
coasts is reserved.
The votes against the bill we're cast by
Bates, Of Tennessee; Caffery, of Loulsl-
ana: Cockrell, of Missouri; Mantle, of
Montana; Martin, of Virginia; and Smith,
Of New Jersey.
The following bills passed the senate
today: Granting to the Clearwater Valley
Railroad Company a right of way
through the Nez Perces Indian lands in