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![handle is hein.usccsset/usconset32912 and id is 1 raw text is:
54TH CONGRESS, HOUSE OF REPRESENTATIVES. I REPORT
1st &ssion. No. 2126.
NICARAGUA CANAL.
JUNE 1, 1896.-Committed to the Committee of the Whole House on the state of the
Union and ordered to be printed.
Messrs. DOOLITTLE and SHERMAN, from the Committee on Interstate
and Foreign Commerce, submitted the following
REPORT:
[To accompany H. R. 35.]
The Committee on Interstate and. Foreign Commerce, to whom was
referred House bill 35, entitled A bill to amend the act entitled 'An
act to incorporate the Maritime Canal Company of Nicaragua,' approved
February twentieth, eighteen hundred and eighty-nine, report back
said bill (H. R. 35) to the House of Representatives with the following
amendments, and earnestly recommend that the same do pass:
In lines 4 and 5, on page 1, after the word of, strike out the words
eight hundred and thirty thousand and insert one million.
On page 2, line 5, after the name Costa Rica, strike out the remain-
der of said line, lines 6, 7, 8, and 9 on said page.
On pages 2 and 3 amend by striking out all of section 3 in said bill
and insert the following:
Sc. 3. That if the Maritime Canal Company of Nicaragua shall, within one year
from the passage of this act, show, to the satisfaction of the Secretary of the Tres-
ury, that all the stock of the Maritime Canal Company of Nicaragua heretofore sub-
scribed for or issued, except that heretofore issued to the republics of Nicaragua and
Costa Rica, has been called in, returned to and canceled by the treasurer of the
company, or that satisfactory arrangements have been made for the return and can-
cellation of said stock; and that all bonds issued by said company, and obligations
to deliver bonds have been redeemed and canceled, or that satisfactory arrahgements
have been made for their redemption and cancellation; and that all liabilities of the
said company have been satisfied, and all contracts and agreements heretofore made
by said company, including all contracts with the Nicaragua Canal Construction
Company, have been canceled, or that provision has been made for the satisfaction
and cancellation of said liabilities and contracts, the Secretary of the Treasury shall,
in behalf of the United States, subscribe for seven hundred thousand shares of the
capital stock of said company, and said company shall thereupon issue to the said
Secretary of the Treasury of the United States seven hundred thousand shares of
the capital stock of said company herein provided for, to be deposited with the
Treasurer of the United States, which stock shall be issued in consideration of the
guaranty by the United States of the bonds of said company hereinafter provided
or, and shall be regarded as fully paid and nonassessable. In addition thereto
seventy thousand shares of nonassessable capital stock of said Maritime Canal Com-
pany of Nicaragua shall be issued and delivered to such person or persons as may
be designated by those stockholders of the said company whose stock has been sur-
rendered and canceled as hereinbefore required.
In line 14, on page 3, strike out the word hereinbefore and insert
the words and bonds.
In line 14, on page 3, after the word for, insert the words in
sections three and seven of this act.
H. Rep. 9-1](ViewImageLocal?handle=hein.usccsset/usconset32912&div=1&collection=&method=preview&ext=.png&size=3)