The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1899-01-27

the imperial nerve of a syndicat,
that will make such a proposition t.
our government.
In the senate discussion it trans
pired that it cost the Cragin-G race
syndicate less than 500, 900 to ob
tain its concession, but is willing tc
sell that to the government for S.,
oOO.OoO If it cannot get the permits.
sion it wants to build the canalitself.
The USion Pacific deal was mild
compared to this.
The Nicaragua canal bill as it
passed the senate Saturday con.in.
ues in the name OF the Maritime
Can II company, 1t provides for the
issuing of a million shares of stock
OF 500 each. The canal com any
is required to call in all the stock is
sued except that held by the Mic
aragua and Costa R.can govern.
ments.
The company is also required to
redeem and cancel all bonds and
scrip heretofore issued and to
satisfy all the cash liabilities. To
enable the company to comply with
this requirement, the treasurey
warrants to the amount of S., OOO,-
900 are authorized with a proviso to
the effect that only so much of the
amount Shall be paid as shall be re-
quired to pay the actual cash value
OF rights, privileges, franchises and
property at the time of payment,
the values to be dete rmiued by
commissioners appointed by the
president. This being done the
secretary of the treasury is author
lied to subscribe for l25, 900 shares
OF the compauy's stock for the
government of the United States.
The present members Of the beard
OF directors are then to resign and
a board If directors are to be ap-
pointed in their stead, consisting
OF five on behalf of the United States
and u each on behalf of Nicaragua
and Costa RIGA. The directors on
behalf of the United States are to
he 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 here.
tofore' has been interested in the
canal Company shall be appointed.
They are also prohibited from being
interested in the contracts of the
canal.
Each of the directors except the
president shall receive a salary of
$4,000 a year. and the president
$4,000, All travelling expenses W II
be paid, Annual reports will be
required.
Army reorganization is dead is
sue. The Egan-Miles scandal was
one OF those unexpected things that
took the wind out of the scheme.
The Hull bill is hanging by its
heels On the hook and will be left
there. A substitute may be offered
but the house Is waiting to see what
the senate does about the treaty.
Sentiment about a great increase of
The army is dead. Nobody wants it.
We can keep our volunteers on
garrison duty for a few months
longer rather than saddle ourselves
with q big standing army for all
time. Republican schemes are not
hourishing as was expected and it is
d good thing for the people that
some power puts a check on these
wild schemes once in a while,
Gen. Eagan is to be court mar
tailed for the insulting language
he used about Gen. Miles last week.
That sounds IS if stern justice were
going to be melted out do not be
too sure. There are whispers of an
official whitewash for E4gan, and
executive %clemency. 1t is limited
that he will get off with repri,nand
instead of a dismissal.
More than that, nobody knows
what sort Of a boomerang it will be
for Miles. Every effort will be
made to d 'ag him in as defendant
and practically make it a court
martial for hum instead of Eagan.
1t may happen. The thing really
annoying the administration is what
Gen. Miles told about the ''embalm-
ed beef" and not the discourteous