The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1899-12-07
Secretary Hitchcock Makes Pub
lie an Advanced Report of
the Nicaragua Company.
hANY SHARES OF STOCK SUBSCRIBED.
The Secretary Of the Interiors Re-
port Estimates the Irrigable Area
of the Arid Region.
Hs Places 1t at $4,000, 900 Acre. Capable
Of Importing Under n Proper I-risa-
tion systsm 5O.0OO,OOO People,
Reasonable Expenditures Urged.

WAsHlNeTON, 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 next.
setting forth that since the organiza-
tion of the company 10. las shares of
the capital stock have been subscribed
for at par. amounting in the aggre-
gate to the sum of Sl.Ol4. 500, of which
amount 81. .OOS, $50 has been paid into
the treasury in cash; that there has
been paid into the treasury from
other sources Sl55, 1851. making
the total amount of cash re-
ceived 81, l64. 6o6.5l. 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., ,16l. 772 70 in cash.
81. 800 shares of the full paid capital
of the company of the par value of
SO, 199. 900; Sl50, 900 of it's first mortgage
bonds and it's obligations for Sc, 7o5, 900
of the said first mortgage bonds. 1t
has also issued $50. 600 shares of it's
capital stock of the par value of Sls-
600, 900 in payment for conce ssionary
rights, privileges, franchises and other
property.
The liabilities of the company con-
sist of amounts still due under the
concessions granted to the company,
of the Sc, 705, 200 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-
tion of the work of constructing the
inter-oceanic canal. and of cash liza
bilities outstanding unpaid to an
amount not exceeding 5000, 900.
The assets of the company consist of
its unused capital stock, of the s5ls,-
500 first mortgage bonds and the ., ,420
shares of capital stock received in
! liquidat as aforesaid. the conces-
| sions right, privileges and franchises
| w hich it now owns, and of the plant,
| equipments and other property in Cen
! trail America.
The congressional assertion of its
| through Nicaragua and Costa Rica
undcr the concession of the company,
| according to the company, caused un-
| 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 Decemb ber .,
| 1898, and the other September s. 1899,
| to Secretary Hay against the agree
ment by the Nicaraguan government
| for another canal concession in viola
tion 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 $4,000, 900 acres, capable of
comfortably supporting. under prop
er irrigation system, so. 900, 900 people.
| Reasonable expenditures both by the
federal and state governments looking
to a we'll 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 installa-
tion of territorial or state govern
ment in Indian territory. owing main
ly to lack of uniform land ,cnurrs.
| Attention is tllea to the pneno m N al
increase in raj way traffic in the last
two years amounting approximately
in increased earnings in 1899 over 1898
to &c. OO0 O0O and the previous year to
$23 600, O0o the increase being only
limited by the lack of cars to carry
products.