The San Francisco call., 1907-02-04
FORMING COMPANY
To BUILD CANAL
Contractor Oliver, in Antici-
patton of Being Awarded
Contract, Is Going Ahead
HOLDS A CONFERENCE


NEW YORK, Feb. S-William J. OIL
sel oI knoxville, Tenn, the lowest bid
ger for the construction work on the
Panama canal. held a conference here
tonight with ten other contractors. who
WILL II is understood, be associated
with oliver in the event that his bid is
accepted. The purpose of the confer
ence, 1t was said, was to discuss the
formation of a corporation which would
De prepared to undertake the work on
the isthmus
Those, in addition to Oliver, were:
John Mcdonald and John Peirce of this
city; George .Peirce of Maine: p. T.
Walsh of the Walsh Contracting Com
pany. Davenport. Iowa; P. T. Brennan
on the Brennan Construction Company.
washington. d. C; Robert Russell of
New York, who has been associated
with Oliver in many enterprises; w H.
Sayre of the International Contracting
Company, New York; Charles Ackert.
tnlrd vice president of the Southern
railroad Company; E. r. Chester of the
National Bank of Commerce, Washing
ton, ID. c., and A. c. Smith of this city.
oliver declined to discuss the out
come of the meeting, but said that
something might be made public in a
few days. A representative of oliver
subsequently, announced some plans
that have been agreed upon in addition
to those already made known.
Mcdonald will, If the corporation to
be formed is awarded the contract, have
general supervision of the work.
george Pefrce and John Peirce, who
have interests in the largest uuarries
In this country, will have charge of
the mason work, and Walsh will have
supervision over the work of excava-
ton. Brennan will have portions of
the construction work to do Robert
Russell will be, it is said, in charge of
this work. ~
President Ackert Of the Southern
Railway will have charge of the men
and the machinery used.
A. G. Smith and z. r. Chester will
have charge of the financial end of the
corporation
1t was said that the contractors in
the company would associate with
themselves such other contractors as
might be necessary. Among others con-
suited tonight by the contractors named
were P. r. Mccarthy. who is associated
with Walsh In the fatter's construction
company; G. o. Tenney, an expert on
concrete work, of Spartansburg, S. c.;
l.. c. Gunter, who has been associated
with Oliver in previous enterprises, and
George f. Parker, representing the
Title Guaranty and Surety Company of
ctl ID. he laIIeE mas arranged
for $2,0do,000 bonds
The final papers for incorporation, 1t
was said, will be drawn up tomorrow.
Oliver has until next Wednesday to
comply with the requirements of the
Government that he should associate
with him at least two other expert
enced contractors and incorporate q
company with a capital of $4,000, 600.
1t is understood that the Government
will be notified tomorrow of the incor-
poration of the company and it's per-
sonnel
WASHINGTON. Feb. Be. r. Ches-
ter, who, with r. A. c. Smith, the New
York traction magnate, is to finance
the corporation being formed by Will
liam ]. Oliver to construct the Panama
canal, is first vice president OF the
Commercial National Bank of this city,
of which Frederick C. Stevens. the
newly appointed superintendent of
Public Works of New York State, is
president. Since Stevens accepted the
position in Governor Hughes Cabinet
Chester has been acting president of
the bank.
The announcement was authorized by
Oliver a week ago that Stevens would
be his financial hacker. On Saturday
Stevens had a conference with Presi-
dent Roosevelt. He has refused to
make any statement regarding the
part he would take in the construction
of the canal IL Oliver was finally
awarded the contract.