The times. [volume] (Washington [D.C.]) 1897-1901, 1900-05-23
REPORTED BY Mr.. MORGAN
Information Concerning Isthmian
Canal Companies.
The Senate Hears the Details of
Charter Provisions of Three Cor
pOrntiOns Organized Under the
Laws of New Jerscy-Hcpburn BILL
Not Called Up for Consideration.

mittee on Inter Oceanic Canals. did not
| call the Nicaragua Canal bill up yester-
| day, as he had announced he would do,
owing to the fact that unfinished business
had the right of way. He reported in
accordance with the resolution adop ID by
the Senate on Monday, three charters of
! New Jersey corporations which have been
| organized to do business relating to ship
| canals in the Isthmus of Darien.
| The charters include the Panama Canal
| Company, the Inter-Oceanic Canal Com
pany. and the American Isthmus Canal
Company.
The Panama Canal Company's charter
states that the company is formed for the
following objects:
ITO acquire by purchase or otherwise,
the maritime ship canal of the Compagnie
Nouvelle du Canal de Panama and the rail-
way across the Isthmus of Panama be-
tween the Atlantic Ocean and the Pacific
Ocean; to construct, exploit, complete.
equip, repair, and enlarge; to operate,
manage, maintain, and control said canal
and railway and the various enterprises
connected Herewith; to collect tolls and
revenues therefrom, and to use and enjoy
the same.
To acquire by purchase or otherwise and
to construct, operate, exploit, manage, and
control lines of railway along or in the
vicinity of such canal
TO acquire by purchase or otherwise,
and to construct, operate, and exploit,
manage, and control cable lines telegraph
lines, and telephone lines along and to
connect with such canal and such railway
or railways, and in and along the shores Of
the oceans, seas, CULTS, and bays at, near,
or to connect with such canals or railways.
ITO acquire by purchase, lease, or other
wise, and to construct, maintain, operate,
manage, and control, and to sell, let,
pledge, or otherwise dispose Of ships, boats,
and other vessels of every kind and nature,
and propelled by any power; to acquire
concessions, grants, privileges, or licenses
for the establishment and working of lines
OF steamships or sailing vessels, and to es-
tablish and maintain lines or regular serv-
ices of steamships or other vessels be-
tween any ports of ,iie world, and generally
to carry on the business of shipowners,
and to enter into contracts for the carriage
OF mails, passengers, goods, and merchan-
disc by any means, either by its own ves-
sells, railways, or conveyances, or by the
crs; and to collect, use, and enjoy revenues
therefrom. 'a"' nH''fr'f9''
ITO enter into any arrangements with
any governments or authorities-national,
State, municipal, local, or otherwise-that
may seem conducive to the conpany's OBJ
jects or any Of them, and to obtain from
any such government or authority any and
all rights, privileges, grants, and con-
cessions which the company may think 1t
desirable to obtain, and to carry out, ex-
ercise, and comply with any such arrange
ments rights, privileges and concessions,
including the construction of any and ali
internal improvements of any and ever
nature
THE amour: of the total authorized cap
ital stock of the corporation is $30,000,o00;
the number Of shares into which the capt.
tai stock is divided is 800, 600 shares, con-
sisting Of $4,000 shares of first preferred
stock, $50. 900 shares of second preferred
stock, and 100000 shares of common
stock, and the par value Of each share is
500. The amount of capital stock with
which it will commence business is 5000.
consisting of twenty-four shares of first
preferred stock, nine shares of second pre-
ferred stock, and seventeen shares Of COM
mon stock"
The charter of the Inter- Oceanic Canal
Company states that the objects for in
ITO survey, locate, excavate, construct,
enlarge, extend use, maintain, own. and
operate a maritime canal and its accessor-
les between the Atlantic and Pacific oceans
through the territory of Nicaragua or any
other territory in Central or South Ameri-
ca
ITO acquire the concessions granted, or
heretofore granted by any Government for
the construction and operation Of a mari |
time canal and its accessories between the
Atlantic and Pacific Oceans in Central or
Ssuth America: and the corporation shall
have all the rights, prerogatives, and low-
ers necessary to fulfill the duties anG OBJ |
legations imposed, and to enjoy the privil-
eyes conferred upon IL by such conces- |
sions; and the corporation shall have the |
power to formulate rules and regulations
for the construction, management, care |
protection, improvement, use, and opera !
tion of the canal and its accessories and |
and for the collection of its |
tolls, and may modify such rules and regu- |
lations at its discretion.
The American Isthmus Ship Canal Com |
pany gives the following objects:
ITO take, obtain. purchase. acquire, own, |
have, hold, possess. locate, excavate, build, |
construct, complete. enlarge, extend, i'm |
prove operate, navigate, use, maintain, /
and control and receive the emol- !
uments thereof, be vested with the powers |
and entitled to all the immunities, exemp- |
tons, rights and privileges belonging |
thereto or incident to the same, any and /
all canals, canal lines, ship railways, rail-
roads, and routes therefor as existing or
to be constructed OF otherwise |
to be built on and across the American
Isthmus OF Panama or anywhere within
or across the States of Central America.
av{n Tnif tod tot ,f pla ,tn In
South America. or elsewhere, as herein
after provided, and including all and every
Of the canals and ship railway or routes
and railroads or ways at Tehuan-
.epec Honduras, Nicaragua, Chiriqui, Pan
ANA, Mandingo, Darien, Atrato, Truando,
Nappipi, San Bias, Costa Rica, and at any
and al! other points or places within the
territorial boundaries Of said isthmus or of
said states and countries named, and for
the purpose Of connecting the Atlantic and
Pacific oceans or the bays and harbors
opening thereon, or the lakes rivers, and
streams within said territorial regions
emptying into the same.
Also TO take. obtain, purchase. acquire.
OWN, have, hold, posses, use. and enjoy any
and all franchises, concessions grants
rights, and privileges therefor, connected
herewith, or pertaining or relating there
10 from any Government or other source;
also any and all surveys. layouts. locations,
maps, plans, plots. profiles. prospectuses,
iesigns, sketches. elevations, drawings. field
notes, reports. archives. and papers OF or
the same.
ITO enter upon, make, and complete any
and all explorations. surveys, and layouts
Tor such canals ana ways and roads, or
my Others that may be built by this com-
,any; to prospect for and acquire, whether
by purchase or otherwise, any and all in