New-York tribune., 1900-08-04
THE ETRE-CR4GI8 CONCESSION.
JOHN D. CRIENIINs TALKS OF THE PLANS
OF THE SYNDICATE.

In view Of the action Of the Nicaraguan Congress
in transferring the concession construct the inter
oceanic canal from the Maritime Canal Company of
Nicaragua 70 the Eyre-Cragn syndicate, Of this city
it would seem, in the view OF some observers that
the United States, if IL decided build canal
must deal with the syndicate. The contract which
has been drawn up between the N!caraguan Gov
eminent and Edwin F. Cragin and Edward Eyre
gives TO Messrs Cragin and Eyre exclusive rights
in perpetuity to construct, maintain and operate
canal through the territory Of Nicaragua, between
the Atlantic and the Pacific oceans.
John D. Crtnmins. member Of the Eyre-Cragn
syndicate said yesterday that ne and his colleagues
were prepared 10 begin work on the canal at once
In commenting on the project and the plans of the
syndicate Mr.. Crimmns said
The company to construct the canal has been
viii proceed wlthouL delay to carry out me terms
OF It's contract Inc, capital needed nas Deea
cost made by the United States Government IS cor
rect-as we believe il approximately is-we car
very probably for less. That estimate is about
we prefer that the Government of Of the Eni5edd red
alton OF the canal for the benefit OF the whole
a. 6b'fea ions we have i11rred To tha Ncsraguan
Government, and that be transferred only with
cur consent. The syndicate. however. IS composed
@6y an Way fo e6arrass the GoveTnment and wiling
in all reasonable ways TO defer TO its conception OF
We have not selected a route. We have full lib
We shall almost certainly adopt any roue pre-
the route viii be that hitherto called the Nicaragua
route, but DO not know what recommendations
have been maze bv the latest Government Com
mission. Our concession is perpetual, II gives Us
the right to police the country for ten miles on
either side Of the canal, whereas under the Mall-
time company's concession policing was 10 be done
by the Nlca-aguan Government
Senator Morgan. OF Alabama, whose bill provided
for the building and ownership of the canal by the
Government was quoted yesterday as referring 70
the members OF the syndicate 'speculators who
are violating the laws and laying themselves open
TO a in the penitenuary,' and as saying t1aI
as the Maritime Canal Company had e&pen0e4
S45O0 GOO and the United States Government SzU1u-
600 the Nicaraguan Government was bound 70 e&-
tend the concession. Mr.. CrimninS declined 10 say
anything regarding Senator Morgan 5 contention
Mt Cragin is at present away from CoWn5 ana
Mr.. Eyre could not be found yesterday
Among those who Interested in the syndicate
are ". R Grace and NJ. P Grace. Of w r Grace
& Co; the Ingersoll-Sergeaut Drill Company JOah
d Crimmins John a. Mccall. president OF the
New-York Life Insurance Company; +. K ana
J. H Ladew, Of the United States Leatner COM
panv. Fl 3 Hollins, Of Il. B. Hollins * Co; George
Westinghouse. of the Westinghouse Com cpanyi Jonh
Jacob Astor, Levi ?. Morton. George 9. Williams,
president Of the Chemical National Bank; d II
Rogers treasurer Of the Standard o.. company;
James Stlnan. president OF the Nationa! city
Stanley contractor: w n. Gelsheuen, president
Of the Gardeld National Bank; ex-senator Warner
Miller Edward J. be wind OF the 5erWInd w nlte
Coal Company; James T woodward, pTesIdent OF
the Hanover National Bank; Nathaniel whitman
and II. F. Kerr