New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-10
CRAGIN-EYRE CONCESSIONS.
THEY ARE ALLEGED TO STAND IN THE
WAY OF THE GOVERNMENT PLAN'FoR
AN INTEROCEANIC CANAL.

The progress which the Nicaragua Canal bill is
making In Congress and the announcement OF the
terms Of the treaty which Secretary Hay has
gouated with Great Britain have revived interest
IN the oft-discussed claims OF the Maritime Canal
Company and the Cragin-E yre-Grace syndicate
and the concessions which they have obtained from
the Nicaraguan Government 1t is asserted by the
shareholders in these companies that when the
United States comes 70 treat with Nicaragua for
the right to construct canal across that republLc
Nicaragua will be found to have TO such rights to
concede because she has already disposed OF them
to these companies. Report places the cash value
at which these concessions held by the
grantees at 100000. Among the men interested
IN the Cragin-E yre-Grace syndicate David Nc
Clure, the'lawyer said yesterday are Levi p Nor
ton. John Jacob Aston John A Mccall George @.
Williams George Westinghouse. John D. Crinmins
James Stillman, Edward F. Cragin e Eyre and
William r. Grace
Some Of these men notably Mr. Eyre and Mr.
Grace, are also stockholders in the Maritime Canal
Company. whose president is Hiram Hitchcock
whose secretary Is Thomas B. Atkins and whose
directors are or lately have been, Charles P. Daily
Horace L. Hotchkiss. Joseph Bryan. 8 E Kilner
James Roosevelt Henry E. Rowland. alexander T
Mason, Frederick F. Thompson. Robert Sturgfs and
George West
Notwithsta ndng the fact that certain men hold
stock in both companies there seems to be a well
denned difference OF opinion among them 10
NH@Iher the Maritime Canal Company holds
any concessions from Nicaragua or not The Of
hclas OF course say II does, and repor published
Yesterday which said that the Cragin- Eyre-Cirace
syndicate had secured the rights Of thu Maritime
company declared yesterday by David Nc
cure, counsel for William P. Grace 70 be true.
AT the office Of William r Grace & Co No /
Hanover Square. Information could be obtained
T. Eyre. who is vice-presdsnt of that company.
saying that there was nothing new IN the situation
but r r Cragin declared positively that the Mari
time company had rights at all because it had
allowed them 70 lapse October last BY non-f,ll-
hlment Of the conditions on which thew were based
MF. tragln says he is strongly opposed 10 the
pulidlng or the lnteroceaniC canal by the Govern
ment and Is an earnest advocate of constructing
1t by private capital asserting that Drfya -
capitalists could complete it in about eight years
while II would take the Government at least
twenty years, and the cost. through waste DELAY
and red tape would greatly exceed what was
actually necessary
6ut the question whether the Cragfn- Eyre-G Grace
syndicate has secured" all the rights Of the
Maritime Canal Company or whether the Maritime
Canal Company has been snuffed out by its own
neglect. and all its concessions have fallen into
the lap OF the Cragin-Eyre syndicate is of more
III anGe 70 me stockholders than TO the general
pubic which Is only interested in the fact that
eoreesl f 10 constTuct canal across
Of the Nicaraguan National Legislative Assent '
and sgned bS zeaya and Jose g M6n6z
su6-Secretary OF Public Works.
This decree grants 10 Edward Eyre and Edward
oceanic canal across Nicaragua 0rov,Ge fha+ bav
may negotiate with the Maritime Canal Company
for its concessions. permits them 10 carry on any
business enterprise in connection with the canal.
and provides that they must deposit cash s1O0OOl
- once anc s4ooooo Wlthl4 fogr mSnths with the
deposited yet but Mr.. Mcclure says II will be
whenever II rs demanded, and that Nicaragua
or some one for her must purchase those conCes-
sions from the syndicate before the right build
a canal across that country be granted any
else.
Both Mr. Mcclure and Mr.. Cragin denied vigor-
ously the published report that they those assO-
ciated with them behind the Nicaragua
Canal bill. hoping TO IL go through that their
claims would have to De purchased.