The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-01-23
NICARAGUA CANAL
Measure Passes the Senate by u
Vote OF rs to 6.
MARITIME NAME RETAINED
New Treaties to be Negotiated In Con.
nection with the Bill = Provision
Made for the Expenditure OF 500
100000 Annually During the Con-
strnct'on OF the Cauai How the
American Directors are to be Ai.
pointed.

WASHINGTON. D. c., Jan. 2e-The
senate yesterday passed the Nicaragua
Canal bill by vote Of IS TO 6: decided
10 make the anti-scaiplng bill the un-
finished business. and continued with
out completing the consideration OF the
Indian appropriation bill.
A number OF amendments We're made
to the Nicaragua Canal bill and there
were innumerable short speeches dur
ing the day. There WIS. however, no
opposition to q vote when the time
came, and a roll call on It developed
only six votes in opposition TO final
passage.
The anti-scalpins bill was taken up
on vote OF 80 TO q, but no effort was
then made to continue its consideration.
The effect OF the vote was 10 give 1t the
first place on the calendar. but the un-
Outstanding Is that it shall not be pass
ed In opposition to the peace treaty or
the appropriation bills.
The Nicaragua Canal bill. as II pass
ed. continues the name OF the Maritime
Canal Company. II provides for the is
suance OF 100000 shares OF stock OF
500 each.
The canal company is required to call
in all the stock Issued except that held
by the Nicaragua and Costa Rican gov
ernments. The company is also requr-
ed to redeem and cancel all bonds ana
scrip heretofore issued by the company
and TO satisfy all cash liabilities.
To enable the company TO comply
with this requirement treasury war
rants 10 the amount OF Sa09o.009 are
authorized. with proviso that only so
much OF the amount shall be paid as
shall be required TO pay the actual cash
value Of the rights, privileges. fran
chises and property al the time OF the
payment. the value to be determined by
the President. This being done. the Sec
rotary of the treasury is authorized TO
subscribe for $4,000 shares OF the COM
pany's stock for the government OF
the United States. The present mem
bers OF the board OF directors are then
to resign and & board Of seven Is to be
appointed IN their stead. consisting OF
five on behalf of the United States and
one each on behalf OF Nicaragua and
Costa Rica-
There is a provision against declaring
dividend except upon the net earn
ings- The company is authorized to
contract for the completion OF the canal
with six years. The payments are re-
stricted to s20.o00,0o0 annually.
The canal Is to be large enough "for
the use OF the largest sea-goins ves-
sells al cost not to exceed the estimate
OF the engineers and not to exceed WIS.,
oe0.000." This amount Is made a per-
manent appropriation for the work, 10
be used as occasion may require.
The bill gives the government a lien
upon the property TO secure the repay
ment Of the moneys advanced, and the
President Is empowered to declare for
Ieiture OF the property to the United
States without the necessity OF ju-
d.cial or other ascertainment. There
after. full title is to rest In the govern
ment OF the United States.
The President is authorized to sus-
pend payment at any time. The Pres
!dent is also authorized to secure any
change in or modiffca ton OF the terms
Of the concession. either from the con-
cessionaires or from Nicaragua and
Costa Rica-
In case OF failure In such nego.ia.
lions, the President Is also empowered
10 negotiate for another route across
the isthmus. He is further requested 20
open negotiations for the abrogatloH OF
the ClaytonBulwer treaty or any other
treaty found to be in existence and
standing In the way OF tho construction
OF the canal. The neutrality Of the ca
nails guaranteed, but the right to pro-
tect /; against interruptions OF business
between the Atla7tic and Pacific coasts
OF the United States is reserved
The resolution offered yesterday by
Cafery. requesting from the President
any Information he may have received
from agents or representa- ves of the
so-callcd Philippine republic relative TO
conditions in the Philippine Islands,
was adopted.