The age-herald., 1899-01-22
SENATE PASSES
 THE CANAL BILL Number of Amendments Made
 to Original Measure. SIX NEGATIVE VOTES CAST Name of Maritime Company is
 Continued. THE UNITED =zs GOVERNMENT >fT' Will subseS s15,00O Shares of Stock
 : ne Enterprise.  
 PRESASI BOARD OF DIRECTORS
Will subseS s55,ooO Shares of Stock
 = : ne Enterprise.
PREs4>i BOARD OF DIRECTORS
Will Tender Their designations, and Board of Seven is to Be Appointed to Serve in
 Their Stead.

Washington, January H.-The senate to- day, passed the Nicaraguan canal bill, de- cided to make the anti-scalping bill the un- finished business and continued without tho completion of the consideration of the h. dian appropriation bill. A number of amendments were made to the Nicaraguan bill, and there were innumerable short speeches during the day. There was, how ever, no opposition to a vote when the time came, and a roll call on it developed only six votes in opposition to final passage
 The anti-scalping bill was taken up on vote of 33 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 understanding is that it shall not be pressed in opposition to the peace treaty or the appropriation bills.
 The Canal Measure
 The Niearaguan canal bill as 1t passed continues the name of the Maritime Canal company. It provides for the issuance of 100000 shares of $100 each. The canal com- pany is required to call in all the stock issued except that held by the Nicaragua and Costa Rican governments. The com- pany is also required to redeem and cancel all bonds and scrip heretofore issued by the company and to satisfy all cash liabilities. Te enable the company to comply with this requirement treasury warrants to the amount of $5,O0O,OO0 are authorized, with a. proviso to the effect that only so much of the amount shall be paid as is required to pay the actual cash value of the rights, privileges, franchises and property at the time of the payment, the value to be de- tory aad htro by the president. This being done the sec- retary of the treasury is authorized to sub- scribe for 95,0O0 shares of the company's stock for the government of the United States.
 Directors Will Resign
 The present members of the board oe directors are then to resign and a board of seven is to be then appointed in their stead, consisting of five 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 sen- ate.
 No two of them are to be residents of any one state, and no person who has hereto Sore been interested in the canal company is to be appointed to this office. They are also prohibited from being interested in con- tracts on the canal.
 Each of the directors except the president is to receive salary of $5,000 per annum, and the president is to have s6,C00. All trav- cling expenses are to be paid Annual re- ports are required. There is a provision against declaring a dividend except upon earnings. The company is authorized to contract for the completion of the canal within six years. The payments are re- stricted to $20, 900 annually. The canal is to be large enough flor the use of the larg- est sea-going vessels at cost not to exceed the estimate of the engineers and not to exceed $l15 0O0, ,00O."
 Permanent Appropriation
 This amount is made permanent appro- priation for the work, to be used as occasion may -reQuire. The bill gives the government a lien upon the property toz seeaI.aatise re- payment 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 ascertain ment. Thereafter full title Is to rest in tne government of the United States. The pres ident 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 Nicaragua and Costa Rica In case of failure in such nego- tiations 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 in- terruptions of business between the Atlantic and Pacific coasts of the United States Is reserved.