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![handle is hein.beal/cpcp0001 and id is 1 raw text is:
Calendar No. 994
68TH CONORESs SENATE REPorr
2d Session No. 924
PURCHASE OF THE CAPE COD CANAL PROPERTY
JANUARY 22 (calendar day, JANUARY 24), 1925.-Ordered to be printed
Mr. FERNALD, from the Committee on Commerce, submitted the
following
REPORT
[To accompany H. R. 3933
The Committee on Commerce, to whom was referred the bill
II. R. 3933, having considered the same, report thereon with the
recommendation that the bill do pass without amendment.
The bill was referred to a subcommittee which held hearings on
December 8 and 10, 1924, and on January 14, 1925, and which gave
the subject most careful consideration, reporting favorably on same
to the whole committee January 22, 1925, at which time a majority
of the committee concurred in the report of the subcommittee.
* The report of the House Committee on Interstate and Foreign
Commerce, February 11, 1924, is hereby incorporated as a part of
this report.
[House Report No. 181, Sixty-eighth Congress, first session.]
The Committee on Interstate and Foreign Commerce, to whom
was referred the bill H. R. 3933, having considered the same, report
thereon with a recommendation that it pass.
1. The first section of the bill provides for ratification by Congress
of the contract or agreement dated July 29, 1921, executed by the
Boston, Cape Cod & New York Canal Co., and which is printed in
House Document No. 139, Sixty-seventh Congress, second session,
upon one condition, namely, that the canal company shall file with the
Secretary of War its consent in writing that paragraph 8 of such con-
tract be amended so as to eliminate all clauns of any nature what-
soever it may have against the President, the Director General of
Railroads, or the United States; and so as to eliminate any claims or
demands the Director General of Railroads may have against the com-
pany growing out of Federal control. It is understood that the canal
company now has a claim for compensation for the use of the canal
during the period it was inder Federal control, amounting to approxi-
mately $1,000,000. Under paragraph 8 of the contract above referred
to the company, in the event of purchase by the Federal Government
of the canal property, would still have the right to prosecute this claim.
It is understood also that the Government has a claim against the
canal company for deferred maintenance and for capital expendi-
tures during the same period amounting to approximately $550,000.
Under the terms of the bill both these claims, as well as all other
claims that the canal company may have against the Government,
are to be settled by waiver and release, as provided in a new para-
graph of. the contract to-be substituted for the paragraph numbered
8 in the contract as originally drawn. Section 2 of the bill provides
that the sum of $5,500,000 is authorized to be appropriated for the](ViewImageLocal?handle=hein.beal/cpcp0001&div=1&collection=&method=preview&ext=.png&size=3)