The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1899-01-25
NICARAGUA CANAL
BILL PASSED.
It is to be Completed in Six
Years Time and Will Be.
long to Uncle Sam.

Washington, Jan. 21.-The senate
today passed the Nicaraguan canal bill,
decided to make the anti-scalpiDg bill
the unfinished business anc coosiDued
without completion the confederation OF
the Indian appropriation bill. A
number of amendments we're made to
the Nicaraguaa canal bill and there
we're iDuumerable short speeches during
the day There vas, however, DO
opposition to a vote When the time
came aud q roll cali on it deyeloped
only six votes in opposition to 6nal
passage.
The six votes against the bill we're
cast By Senators Bate. Cafery. Cock
ersli, Mantle. Martin and Smith.
The aoti-scaiping bill was taken up
BY 8 vote Of 33 to 81, but no effort vas
.shen made to consinae iss consideration.
The effect Of the vote was to giveit the
first place On the calendar, but the un-
understanding is chat it shall not be
presented 10 opposition to the peace
treaty OF the appropriation bills.
The house bill to construct bridge
scross the Savannah river from the
mainland 20 Hutchinson island was
passed.
The Nicssaguaa canal bill as it pass
ed continues the name Of the Maratime
Canal company L provides for the
issuance Of /, 000, 600 shares Of stock Of
SIo0s each. The canal company is
dreeuire TO call 10 al! stock issued
except that held BY the Nicaragus aud
Costa Rica governments. The COM
pauy 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 com.
paIy 90 comply with this requirement,
treasury warrants to the amount of
So, ,000, 900 are authorized, with q
proyiso to The effect that only so much
Of the amount shall be paid as shall be
required to pay she actual cash value of
the rights. privileges. franchises aud
property at the time cf the payment.
the value to be determined by commits
sioners 50 be appointed by The president.
This being done the secretary of the
treasury is susho1ized to subscribe for
925, 900 shares of the company's stock
for the government Of the United States
The present members Of she board of
directors are then 20 resign and a board
Of seven is to be appoinsed in:sheir stead
consisting OF Eve on behalf ofthe Uuised
States aud one each on behalf of Nicara-
qua and Cost Rica. The directors on
behalf Of the Uuited States are to be ap-
pofoted by the president and Confirmed
By the senate. No two OF them are tc
be residents Of any one State aud no
person who has heretofore beea interest
ed in canal company is to be appointed
to this Office. They are also prohibited
from being interested in contracts on
the canal. Each OF the directors except
The president is to receive q salary OF
.S5, 600 per year aud the president is to
receive 5000 All sraveling ex-
penses are 80 be paid. Annual reports
are required.
There is a provision against declsr-
ing dividends except upon the net
earnings. Phe company is authorized
10 contract for the completion Of the
cana. within six years. The payments
are restricted to $4,000. 900 annually.
The canal is to be large enough ''for
che largest sea-goiug vessels at cost
nos to exceed the estimates of the
engineers aod not TO exceed S115.-
600, 600" This amouns is made a
permanent appropriation for the work.
to be used as occsson may require. The
bill gives the government lien upon
the property to secure the repayment OF
the moneys advanced and the president
is empowered to declare forfeiture OF
the property to the United STATES With
out the necessity Of Judicial or other
sscertainment. Thereafter ful! title is
to rest in, che government of the United
States. The president is authorized to
suspend payments at aoy time The
president is also authorized to secure
any change in or modification OF the
terms of the concession either from the
concessionaries or from Niearagua and
Costa Rica. 10 case of failure 10 such
negotiation Che president is empowered
to negotiate for another route across the
istbums. He is further requested to
open negotiations for the abrogasion of
the Clayton. Bulwer treaty or aoy other
treaty fonnd to be 10 existence and
standing 10 the way Of the construction
of she canal.
The neutrality Of canal is guaraB-
teed. bat the right to protect lit against
the interruptions of business between
the Atlantic end Pacific coasts of the
United Ssates is reserved.
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