The Montgomery advertiser., 1907-02-07
OLIVER WILL
 KNOW TODAY. Bid Submitted to the
 Commission LOOKED OVER BY TAFT. Will Immediately Take Up Matter
 With President. Knoxville Contractor is Censdeat thst His Proposal win Be Accepted
 and is Preparing to De-
 gin Work.

| Washington, Feb. 6.--Hy noon to- morrow William T. Oliver. IT.. of l Knoxville, Ten. who was the lowest bidder under the proposal for digging the Panama Canal by contract and who has formed company or contrac- | tors known as the Panama Construc- tion Company will know when ne may expect a nnal decision. | Accompanied by his counsel Judge Morgan F. OBrien of New York, Mr. i Oliver shortly after 2 o'clock this af- | ternoon called at the offices of the 18th milan Canal Commission and submitte0 his bid in accordance witn the reduire- ments of the President after having been given ten days time in which | to do SO.
 l Tn the presence of Chairman Shonts | the documents were delivered to Rich ard R. Rogers, general counsel or the | Commission. who perused them care IAlly in the presence of MT. Oliver and | Judge OBrien and found them correct In form, except as to one or two minor details.
 A number of papers were submitted including not only the list of those whom MT. Oliver proposes to associate with him In the actual work of con- struction. but also the names of the stockholders and the amounts suh- scribed by each. It was ascertained | that the original figure submitted by l MT. Oliver, 6.75 per cent. of the est- ! mated cost 0f construction. was ad- hered to in the papers filed today. | Mir. Rogers, after satisfying himself I that the papers were in due forms I would at oncv have taken them to Sec retary Taft. but the Secretary was de- | tafned at the capitol. where he went before a committee and did not return to the War DeL until o'clock.
 He found Msssrs. Oliver, O'Brien and | Rogers awaiting him and the four held q fhort conference. at the conclusion of which Secretary Taft said that he I woald to,dght receive . report from | Mir. Rogers on the rapers hled. and l that in the morning he would take | the whole matter up with the Presi-
 dent and make the aanauneement as
 stated.
 oliver TO Knew Fate. 4 Secretary Taft said he did not wish 1t to be understood that at noon to- morrow Mir. Oliver would get his final answer, but that he would know at that | time when he may expect it. Accord ingiy. Mir. Oliver deferred leaving here tonight for his home in Knoxville. l At the War Department tonight 1t was stated that the closest investigation i would be made regarding the stock ] holders and on the fact regarding every body interested in the company.
 ~The incorporators are one thing" said one of the officials. and the stock | holders are another.' The question of 1 the skill, experience and financial in- terest and responsibility of those with whom MT. Oliver has associated him. self will be gone into"
 1 After his interview with Secretary Taft, MT. Oliver declared that he had got together a combination of the greatest contractors in the world.
 While I am not inclined to discuss the matter" he said. "inasmuch as 1t is now before the Secretary of War, yet feel that have disappointed some peo- 1 pie who thought I could not make | good
 We will be able to get all the men we want The sanitary conditions on the Isthmus are well nigh perfect and laborers will not hesitate to go there on that account
 Incidentally MT. Oliver paid high compliment to Colonel Gorgas, Chief ] Sanitary Officer of the Canal Zone, for | the work done by him in ridding the Isthmus of al infectious diseases and placing it in thorough sanitary con- dition.
 Richard R. Rogers. general counsel 1 for the Isthmian Canal Commission, to- ! night made public the names of thse
 constituting the Board of Directors
 and list of stockholders of the Pan- anna Construction Company. The di-
 rectors are: W. J. Oliver, Knoxville, | Tenn; Charles II. Ackert Washington l F. r. Walsh, Davenport, Iowa; Robert 1 Russell, Lynchburg. Va; F. T. Bren- nan, Washington; J. B. McDonald, New | York; John Pelrce, New York; G. H.
 Hartman, New York; E. A. c. Smith | New York; George Sayre. New York, and George Peirce, Frankfort. Me, and l R. A Chester. Washingt
 Each of the directors subscribed for l fifty shares and paid in $5,000 when 1 the company was incorporated in AL | bany. The articles of incorporation called for 50 900 shares of stock at par | value of $10o each. making total of
 s5. .00O. .000. As required by the Govern ! ment 2,0O0 900 of this amount will be 1 represented by the bond which tho 1 successful bidder is required to give
 represented by actual cash or securi-
 ties. Of the $3.00o.000 cash capital, one
 half must be paid in when the contract
 is signed and the second sl,5O0,OOO must
 be payable upon demand.
 The stockholders who have subscrib-
 ed to the paid-up capital stock, in ad-
 dition to the $60.000 paid in by the | twelve directors when the company 1 was incorporated and the amount of stock taken by each, follows;
 k. A. Smith, $210,200; John B. Me Donald s1sG. s00; John Peirce. $322,500;
 
 ss5o 500. This. with the $6o,00O. makes
 a total of s1, ,5Os, 900. Stock payable
 upon demand has been subscribed for
 A e. Smith, s206,OO J. B. Me-
 Donald, $906, 800; john Pierce, SsS7, 7,6OO;
 F. o. stevens ss;ooO; ,e z; ood H .n1 1eRsr.. Ron,
 s5OOO; H. Brennan o, sS'OVy 5aS ana od6 moo-
 The corporations $2,OOo,OOo bond is given fin the following surety compa-
 nies:
 .,,i,.aria $500 OOO; Title Guaranty and
 Security Company of Scranton Pa. sS5O. O.oo0; Fidelity Trust and Deposit { Company of Maryland S4Oo'Ooo; Fed
 eraI Union Surety Company of Indian apoIis, S250, ,OO0: Peoples Surety Com
 nsnv of New York. S20e.oo0; Empire State Surety Company of New York, s20O. GOO.
 The bonding companies also assume an additional liability of s50o.o00 to ! protect the Government from loss in