The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1899-12-05
MARITIME CANAL.
iecretary Hitchcock Makes Public an A6-
vanced Report of the Nicaragua Com
pany-Stock Being Subscribed.

WASHINGTON, Dec. 2.-Secretary of
the Interior Hitchcock, in his annual
report. makes public an advance re-
port of the Maritime Canal Co., OF
Nicaragua, dated December 4 next
setting forth that since the organiza-
ton of the company 10, 145 shares OF
the capital stock have been subscribed
for at par, amounting in the aggre-
gate to the sum of 81, Ola, 500, IF which
amount 81, OOS, $50 has been paid into
the treasury in cash; that there has
other sources $155, 776.51, making
the total amount of cash re-
ceived SILICA 606.51. The company has
paid for property, work and labor
done, and materials furnished in the
execution of work of construction of
the canal, and in administration ex-
penses the sum of ST., 161, 772. 20 in cash,
81, $50 shares of the full paid capital
of the company of the par value of
IS, 1919, 600; $3.50, 900 of its first mortgage
bonds and its obligations for Sc, 7O5, 600
Of the said first mortgage bonds. 1t
has also issued 10000 shares of it's
capital stock of the par value of $751;
300, 600 in payment for concessionary
rights, privileges, franchises, etc.
The liabilities of the company con-
sist of amounts still due under the
concessions granted to the company,
of the Sc, 7O5, 900 of bonds before men
toned, the said bonds being due to the
assignees of the Nicaragua Canal Con-
struction Co. for work and labor done
and materials furnished in the execu-
ton of the work of constructing the
inter-oceanic canal, and of cash liza
bilities outstanding unpaid to an
amount not exceeding $500, 600
The assets of the company consist of
It's unused capital stock, of the $518,-
500 first mortgage bonds and the 2, 40
shares of capital stock received in
liquidation as aforesaid, the conceS-
sions, right, privileges and franchises
which it now owns, and of the plant,
equipments and other property in Gen.
trail America.
The congressional assertion of its
right to determine the line of canal
through Nicaragua and Costa Rica
under the concession of the company,
according to the company, caused I'M
certainty as to final location of the
route and with other causes,
has made the resumption of
the work of construction i'm
possible. The company incloses two
! formal protests, one dated December 2,
1898, and the other September s, 1899,
to Secretary Hay against the agree
ment by the Nicaraguan government
for another canal concession in viola
ton of the rights not only of the COM
pany, but of the United States and
Costa Rica.
The report estimates the irrigable
area of the arid region of the United
States at T4,OO0,O 900 acres, capable Of
comfortably supporting. under prop
/ CT 1ET4SdGAO SySCSL1, OOsOVO,VOO pSOp1S'
Reasonable expenditures both by the
federal and state governments looking
to well defined irrigation system, are
urged.
Nearly so proposed new forest re-
serves or additions to those already es-
tablished are under consideration. The
Dawes commission reports the time
has not yet arrived for the inEtalla-
ton of a territorial or state govern
ment in Indian territory, owing main
| ~ to lack of uniform land tenurea
Attention is called to the phenomenal
increase in railway traffic in the last
two years, amounting approximately
in increased earnings in 1899 over 1898
to SO, ooO, 600, and the previous year to
s2S, 600, 600, the increase being only
limited by the lack Of cars to carry
| products.