New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-04
OLIVER NAMES HELPERS
Division OF THE WORK.
apparent Confidence That Canal
Contract Viii Be A1carded.


Details about the construction company which
has been formed TO dig the Panama Canal II the
government accepts the bid of w J. oliver. were
settled at conference at the Manhattan Club in
this city last night The company, which will
be incorporated to-day under the name Of tbs
Panama Canal Company or the Panama Con-
stTuction Company. Will have a capital Of S5-
10000 and Will furnish q bond to the govern
n1ent Of S2,000yO00.
The practical contractors who will be associat-
ed with Mr.. Oliver in the company are:
John B. Mcdonald. who built the New York
subway. and who will be associated with Mr.
oliver in the general management OF the work
and will have general charge of the men.
John Pierce. Of this city. who built the Ports
mouth drydock. the Postofice buildings in Chi
oago and Washington and did other government
work.
George Pierce, of Maine who has been asso-
dated with John Pierce. his brother and who
with him owns what said to he the largest
granite quarres in the country They will have
charge Of the masonry.
?. T Walsh. Of the Walsh Construction Com
pany. Of Davenport, Iowa, who has been largely
interested in tn" construction of railroads. and
who viii have chargs Of the excavation.
?. T. Brennan, of the Brennan Construction
Company. Of Washington. one Of the largest con-
tractors in that city on government work
Robert Russell. who has been in partnership
with Mr.. Oliver in many of his railroad enter
prises and is said TO be one of tho mos, expert
steam shovel men in the country.
"A. H. Sayre. Of the International Contracting
Company. Of this city. who will be particularly
connected with the dredging end OF the enter
prise.
John H GerTis,l, of the Eastern Dredging
Company. of Boston.
Charles H. Ackert one of the vice presidents
of the Southern Railway, whose particular field
VIII be TO direct transportation.
The financial end OF the company will be COM
posed of Frederick c. Stevens. State Superin-
-endent OF Public Works: r. A. c. Smith Of this
ery, who IS known as a promoter and hnancier,
and r. A. Chester. vice-president Of the Com
mercial National Bank. one Of Mr.. Stevens's in
Si7futions in Washington.
Although none OF the r1en at the conference
would talk for publication il was strongly init
mated that they had every reason to think they
would get the contract. The contractors seemed
10 think that the 60 per cent bid Of Mr. Oliver
"'as fair. and one upon which the work could be
cone prohtably. Some seemed to think however,
a2t the tine limit for the completion of the
Tork should he longer than ten years
EX-Jusuce Morgan J O'Brien, formerly Pre-
siding Justice Of the Appellate Division viii act
- counsel for the construction company
il vas said that the contractors in the COM
pany would associate with themselves such
other contractors might seem necessary from
time 10 time. Among the others who attended
tfE conferences IL the course OF the day and
Tho meeting in the evening were P. F. McCar-
thy, who is associated with Mr. Walsh I'm the
alters construction company; George 0. Ten
neT. expert on concrete work. of Spartans-
burg. < c; L. c. Gunter. who has been asso-
GATED with Mr. Oliver in previous enterprises.
~ 7 a~kr
Guaranty and Surety Company, of Scranton.
Penn. The latter has arranged for the So
100000 bond. although II is too large for any
one company 70 handle.
The final papers for Incorporation will be
.iraw1l up to-day. and 1t is understood that no
'irue viii be lost in fling them Mr.. Oliver had
'intil next Wednesday to comply with the
qUireTents of the government; first, that he
aholld associate with him at least two other ex-
perienced contractors. and second. that he should
incorporate a company with a canital Of 5000
$50 but it is understood that the government
vii be notified to-day OF the incorporation of the
company and its personnel.
One Of the contractors said last night that the
government purposed. under its plans for letting
the contract, turn over to the contractors all
the machinery and the laborers in fact. the entire
plant, except the hospitals the police service
snd the sanitary department. The contractors
VIII engage more men ana purchase machinery
~ may be necessary, and will pay all the origi-
nsi bills
on TIC 18th Of each month the government viii
reimburse the contractors for what they havo
spent the previous month. At the end Of each
year the government will pay the contractors
two-thirds OF the money due under the terms OF
Mr.. divers bid. The remaining one-third will
DC withheld until the work is done.
Another contractor who had recently returned
from an examination Of the canal zone said he
thought there would DC little difficulty in getting
laborers as the work could be done with those
already there and those who have been arranged
for.
This contractor said that all the engineering
problems had been solved now. and that II was
simply Job which American contractor
could show his ability to handle gigantic enter
prises and complete them on time
II was late when the meeting at the Manhat-
fan Club broke up 1t said that official
statement would be made until to-day but 1t is
understood that all the papers have been drawn
up and nothing remains to be done except TO
sign the articles Of incorporation.
Theodore P. Shonts. former chairman Of tho
Panama Canal Commission, when at the
Waldorf. said he had nothing to do with the new
construction company. and would not be inter
ested IN It IN any way.