New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-06-27

NICARAGUAN ENTERPRISE INCORPO-
RATED IN NEW-JERSEY.
FINANCIAL BACKERs OF THE SCHEME NOT
DIvULGED-sAID TO HAVE A ROUTE
THAT CAN BE EASILY AND
QUICKLY RT-IIT
QUICKLY BUILT


Articles Of incorporation have been filed in
New-Jersey organizing the American Isthmus
Ship Canal Company. with a nominal capital Of
$4,000. but having the right to increase the
stock TO s250OO00OO The objects OF the COM
pany are stated to be TO acquire any and all
concessions, rights and franchises upon the
American Isthmus to build canal from the
Atlantic TO the Pacific Ocean, 10 own lands.
mines and railroads. 10 colonize. and TO build.
own and operate any canal from ocean to ocean.
and TO obtain aid from the United States. Eng
lard. France. Germany any other Govern
ment to that end
There are three corporators two living IN New
York and che in New-Jersey. No route is Sc
lected. but authority is given to acquire all the
existing route and any others which may be
discovered 10 select and build the best that
exists and 10 settle with those who have en-
deavored TO build the interoceanc watercourse.
II could not be learned yesterday who were
the financial hackers Of the new company. but II
is understood that its principal promoter Is
Edward F. Cragin Of No. II Broadway. Mr..
Cragn. IL will be remembered, returned 10 this
city last November from Nicaragua. where he
had, in company with Edward Eyre. OF ". r.
Grace & Co. obtained the so-called Eyre
Cragin concession" for the construction OF an
interoceanic canal Mr.. Cragin said at the time
that he and Mr. Eyre had made a contract with
President Zelaya OF Nicaragua. which had been
ratified by the Nicaraguan Congress. this agree
ment enabling the Eyre-Cragln syndicate 10 be-
gin work on its canal enterprise in october, 1893
which time IL was alleged the concession Of
the Maritime Canal Company Of Nicaragua
would expire. As result of the presentation OF
the claims Of the rival interests at Washington
last winter. the Interoceanic Canal Commission
appointed. with Rear-AdmraI Walker
its president TO examine into and report upon
the whole subject Of connecting the Atlantic
and Pacific oceans by canal; and the members
Of this Commission will in a few weeks sail for
Central America to make a personal inspection
Of the various canal routes suggested
Mr. Cragin. when seen bv a Tribune reporter
yesterday afternoon. declined 10 reply 10 any
inquiries concerning the new company. L am
unable TO give YOU any information now w~s
the only answer he would give but from his
tone it was TO be implied that he knew con-
sideraby more about the company than he was
willing 10 divulge. He asked In turn II the
new organization had yet acquired any conces-
siOns or was negotiating for any. who were the
ca ptalists behind the company. and whether IT
was proposed 10 exploit any particular route,
but 10 each inquiry he said he not yet able
10 give any information.
II declared yesterday by another interest
connected with the company that the lat
ter already possesses the best known route and
four five others, which will be held only TO
quiet fears Of rival enterprises and for their
valuable lands and coal mines and il fur
.ther confidently asserted that "a route exists
that can be cheapy and quickly built al sea level
without any locks and thirty two feet deep al
low tide, that II discovered by Americans
IN the interests Of the late Emperor OF the
French. bu al the fall Of the empire II was
suppressed by a rival enterprise which has
spent vast sums far 10 purpose tending
to the solution Of the problem Of a commercial
canal from sea 10 sea