The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-01-22
The Nicaragua Canal
Bill.
6 VOTES AGAINST 1T.
The Name Of Maritime Canal
Company Continued.

Washington, Jan. 21.-The Senate to-
decided to make the anti-scalping bill
the unfinished business, and continued
without completion the consideration OF
the Indian appropriation bill.
| A number of amendments were made
70 the Nicaragua canal bill, and there
were many short speeches during the
day. There was, however, no opposi-
ton to a vote when the time came, and
a roll call developed only six votes in
| opposition to final passage.
The anti scalping bill was taken up
on a vote OF 80 to 81, but no effort was
then made to continue its considera-
ton. The effect of the vote was to
give it the first place on the calendar,
with the understanding that it should
not be pressed in opposition to the
peace treaty or to the appropriation
bills.
The Nicaragua canal bill, as it passed
continues the name of the Maritime
Canal Company. 1t provides for the
issuance of one million shares of stock
of 500 each. The canal company is
requested to call in all the stock issued
| except that held by the .Nicaraguan
and Costa Rican governments. The
company is also required to redeem and
cancel all bonds and scrip heretofore
issued by the company, and to satisfy
all cash liabilities.
To enable the company to comply
with this requirement, the treasury
warrants to the amount of 5000, 900 are
Authorized. with a proviso to the effect
that only so much of the amount shall
be paid as shall be required to pay the
actual cash value Of the rights, privi-
leges, franchises and property at the
time of the payment, the value to be
determined by commissioners to be APP
pointed by the president
This being done, the secretary of the
treasury is authorized to subscribe fol-
$4,000 shares of the company's stock
for the government of the United
States. The present members of the
board OF directors are then to resign
and board OF seven is to be appointed
In their stead, consisting of five on be-
half 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 pres
ident and confirmed by the Senate. Nc
two of them are to be residents of any
one state, and no person who has here
tofore been interested in the canal
company is to be appointed to this Of
nee. They are also prohibited from
being interested in contracts on the
canal
Each of the directors except the pres
ident is to receive a salary of $4,000 per
year ana the president is to have $4,000.
All travelling expenses are to be paid.
annual reports are required. There is
provision against declaring a divi-
dend, except upon the net earnings. The
company is authorized to contract for
the completion of the canal within the
SIX years. The payments are restrict
ed to S20,0O0,000 annually.
The canal is to be made large enough
Tor the use of the largest sea-going
vessels, at a cost not to exceed the es-
innate of the engineers and not to
exceed $115. ,000.' The amount is
made permanent appropriation for
the work to be used as occasion NAV
require. The bill gives the government
lien upon the property to secure the
repayment of the money advanced and
the president is empowered to declare
FORFEITURE of the property to the United
states without the necessity of judicial
or other ascertainment.
Thereafter full title is to rest in the
government of the United States The
president is authorized to suspend pay
ments at any time. The president is
also authorized to secure any change
in or modification of the terms of the
concession either from the concession
aires or from Nicaragua and Costa
Rica. In case of failure in such ne
gotiations, the president is empowered
to negotiate for another route across
the fsthmus. He is further requested
to open negotiations for the abrogation
of the Clayton Bulwer treaty or any
other treaty found 10 be in existence
and standing in the way of the con-
struction of the canal
The neutrality of the canal is guar
anteed, but the right TO protect it
against Interruptions of business be-
tween the Atlantic and Pacific coasts
OF the United States, is reserved.
Mr.. Lodge of Massachusetts gave no.
tice that on Tuesday next, after the
routine business, he would discuss the
Vest anti-expansion resolution.
AT the opening of the session of the
Senate, Mr. Mcmillan of Michigan pre-
scented the credentials of julius C. Bur
rows. reelected a senator from Mich
lgan for term of six years, beginning
March 4, 1899. They were filed.
THE CENSUS BILL.