REPORT OF THE MARITIME CANAL COMPANY OF NICARAGUA FOR THE YEAR 1899. THE MARITIME CANAL COMPANY OF NICARAGUA, New York, December 4, 1899. SIR: Pursuant to section 6 of the act entitled "An act to incorporate the Maritime Canal Company of Nicaragua," approved February 20, 1889, which provides that the said company shall make a report on the first Monday of December in each year to the Secretary of the Interior, and in accordance with instructions prescribing the form of such report and the particulars to be given therein, the said Maritime Canal Company of Nicaragua reports as follows: First. That the regular annual meeting of the company was held at No. 54 Broad street, in the city of New York, on the 4th day of May, 1899, pursuant to the provisions of the by-laws, and that at such meeting Messrs. Joseph Bryan, James Roosevelt, Hiram Hitchcock, and Thomas B. Atkins were duly elected directors of said company to fill the places made vacant by the class whose term of office expired on the 4th day of May, 1899, and to serve for the period of three years, as provided for in the said act of incorporation, and Henry Hentz was elected a director of said company to fill the place made vacant by the death of Frederick F. Thompson, of the class of 1900, and Augustus D. Shepard was elected a director of said company to fill the place made vacant by the death of Daniel Ammen, of the class of 1901. Second. That the board of directors of said company thus constituted was composed of the following stockholders: Class of 1900.-Aniceto G. Menocal, Samuel E. Kilner, Alexander T. Mason, George West, and Henry Hentz. Class of 1901.-Charles P. Daly, Augustus D. Shepard, Horace L. Hotchkiss, Henry E. Howland, and Robert Sturgis. Class of 1902.-Joseph Bryan, James Roosevelt, Hiram Hitchcock, and Thomas B. Atkins. The above-named directors are citizens and residents of the United States. Henry Hentz subsequently declined, leaving a vacancy in the class of 1900, and Charles P. Daly has since died, leaving a vacancy in the class of 1901. Third. That at the first meeting of the board of directors held after the said annual election the following officers were duly elected to serve for the ensuing year, to wit: President, Hiram Hitchcock; vice president, Charles P. Daly; secretary and treasurer, Thomas B. Atkins. All of the officers so elected are citizens and residents of the United States. That at said meeting the following directors were elected members of the executive committee, as provided for in the by-laws of said company, to wit: James Roosevelt, chairman; Hiram Hitchcock, Henry E. Howland, Alexander T. Mason, and Samuel E. Kiluer. Fourth. That since the organization of the Maritime Canal Company of Nicaragua 10,145 shares of the capital stock of said company have been subscribed for at par, amounting in the aggregate to the sum of $1,014,500, of which amount $1,008,830 has been paid into the treasury in cash; that there has been paid into the treasury from other sources $155,776,51, making the total amount of cash received $1,164,606.51. Fifth. That since the organization of the company it has paid for property, work, and labor done and materials furnished in the execu tion of the work of construction of canal and in administration expenses the sum of $1,161,772.70 in cash; 31,990 shares of the full-paid capital stock of the company of the par value of $3,199,000; $150,000 of its first-mortgage bonds, and its obligations for $6,705,000 of the said firstmortgage bonds. It has also issued 180,000 shares of its capital stock, of the par value of $18,000,000, in payment for concessionary rights, privileges, franchises, and other property. Two hundred and twentyfive thousand dollars of the amount first named was represented by a claim against the Nicaragua Canal Construction Company for cash advances made on account of purchase of equipment, and in liquidation of which claim the Maritime Canal Company has received and now holds in its treasury obligations representing $518,500 of its firstmortgage bonds, in addition to 2,420 shares of its capital stock, which were transferred and delivered to Thomas B. Atkins, trustee, in liquidation of said account, to be held by him as trustee for the benefit of the company. Sixth. That the liabilities of the company consist of the amounts still due under the concessions granted to the company, of the $6,705,000 of bonds before mentioned, the said bonds being due to the assignees of the Nicaragua Canal Construction Company for work and labor done and materials furnished in the execution of the work of constructing the interoceanic canal, and of cash liabilities outstanding unpaid to an amount not exceeding $200,000. Seventh. That the assets of the company consist of its unused capital stock, of the $518,500 first-mortgage bonds, and the 2,420 shares of capital stock, received in liquidation as aforesaid, the concessions, rights, privileges, and franchises which it now owns, and of the plant, equipments, materials, lands, buildings, structures, railways, steamboats, telephone and telegraphic lines, dredges, locomotives, cars, machinery, stores, machine shops, supplies, and other property in Central America, including the lands, situated between the lake and the Pacific, purchased from the Government of Nicaragua for the route of the canal, in accordance with the provisions of the Nicaraguan concession. In 1895 (after the Maritime Canal Company had expended over $4,000,000), and again in 1897, and again in 1899, the Congress of the United States asserted its right to determine the line of the canal through Nicaragua and Costa Rica, under the concessions from those Governments to the Maritime Canal Company, by enacting laws authorizing surveys and appropriating large sums of money for that purpose; and these laws, and the operation of the commissions thus authorized, have been approved by the Governments of Nicaragua and Costa Rica. This action caused an uncertainty as to the final location of the route. This uncertainty, with other causes referred to in the last and former reports of the company (to which attention is called), has made it as yet impossible to resume the work of construction. The company placed its surveys, maps, buildings, etc., at the disposal of these commissions, and the present commission is now making use of the company's buildings and facilities in Nicaragua. At the close of the last annual report reference was made to an agreement for another canal concession that had been made by the Government of Nicaragua in violation of the rights and interests not only of this company, but of the United States and of Costa Rica. On the 2d of December, 1898, this company protested to the honorable Secretary of State of the United States against this action of Nicaragua. A copy of the protest is hereto annexed, marked Exhibit A. On the 8th of September, 1899, the company made a further protest to the honorable Secretary of State, containing a request for the assistance and intervention of the Government of the United States in the protection of the property and rights of the company, a copy of which is also hereto annexed, marked Exhibit B. Attention is respectfully called to both of these protests. In witness whereof the Maritime Canal Company of Nicaragua has caused its corporate seal to be hereunto affixed and these presents to be signed by its president and secretary this 4th day of December, A. D. 1899. [SEAL.] THE MARITIME CANAL COMPANY OF NICARAGUA, THOMAS B. ATKINS, Secretary. Hon. E. A. HITCHCOCK, Secretary of the Interior. STATE OF NEW YORK, City and County of New York, 88: Hiram Hitchcock, being duly sworn, says that he is the president of the said The Maritime Canal Company of Nicaragua; that he has read the foregoing annual report and knows the contents thereof, and that the same is in all respects correct and true. HIRAM HITCHCOCK. FRANK MAHTAH. Sworn to before me this 4th day of December, 1899. [SEAL.] STATE OF NEW YORK, City and County of New York, ss: Thomas B. Atkins, being duly sworn, says that he is the secretary of the said The Maritime Canal Company of Nicaragua; that he has read the foregoing annual report and knows the contents thereof, and that the same is in all respects correct and true. THOMAS B. ATKINS. Sworn to before me this 4th day of December, 1899. [SEAL.] FRANK MAHTAH. STATE OF NEW YORK, City and County of New York, 88: On the 4th day of December, in the year 1899, before me personally came Thomas B. Atkins, known to me to be the secretary of The Maritime Canal Company of Nicaragua, and with whom I am personally acquainted, who, being by me duly sworn, did depose and say that he resided in Roselle, N. J.; that he was the secretary of The Maritime Canal Company of Nicaragua; that he knew the corporate seal of said company; that the seal affixed to the foregoing report was such corporate seal; that it was so affixed by the order of the board of directors of said company, and that he signed his name thereto by the like order as secretary of the said company. And the said Thomas B. Atkins further said that he was acquainted with Hiram Hitchcock, and knew him to be the president of said company; that the signature of the said Hiram Hitchcock subscribed to the said instrument was in the genuine handwriting of the said Hiram Hitchcock, and was thereto subscribed by the like order of the said board of directors, and in the presence of him, the said Thomas B. Atkins. In witness wherof I have hereunto set my hand and official seal this 4th day of December, 1899. [SEAL.] FRANK MAHTAH, |