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company to pay to that Republic 6 per cent of its bonded indebtedness in addition to the 6 per cent of its capital stock referred to in the concession.

11. The act of Nicaragua in granting to Messrs. Eyre and Cragin on October 30, 1898, a so-called concession for the construction of the canal to take effect October 10, 1899, thereby attempting to repudiate the lawful obligations of the said Government toward the company.

12. Other unfriendly acts on the part of Nicaragua toward the company, which have been open, manifest, continuous, and pronounced from the time when the United States interfered by Executive action to protect the rights of the company and by legislative action to consider amendments to the charter granted to the company.

Fifth. The exclusive right to construct and operate the Nicaragua Canal is secured to the Maritime Canal Company of Nicaragua by contract and by the statutes of three governments and is a vested right. The lands, right of way, property, and privileges of the company are located in Nicaragua and are for that reason incapable of being protected by any judgment or process of a court of law of the United States, and Nicaragua has attacked the company's title and right of possession by an act of legislation, thus closing her courts to any remedy the company might otherwise be able to seek. Under these circumstances there would seem to be a moral obligation on the part of the United States, the Government which chartered the Maritime Canal Company of Nicaragua, to protect the company, its stockholders and bond. holders, and to see that they are not unjustly deprived of their vested rights.

A question of forfeiture of the concession for any cause, or of the defeasance or expiration of the rights of the company under such concession, necessarily involves a controversy as to the interpretations of the stipulations of said instrument or a misunderstanding which entitles either party thereto to demand that it shall be settled by a court of arbitrators under section 55 of said concession, and the company appeals to the Government of the United States to secure to it that right which is vital to its existence and to the security of its corporate rights granted by act of Congress against the arbitrary, extra judicial, and oppressive power of Nicaragua as it is attempted to be exercised in the so-called concession granted to Messrs. Eyre and Cragin.

The Maritime Canal Company of Nicaragua therefore prays the assistance and intervention of the Government of the United States in the protection of its property and exclusive rights against the aforesaid arbitrary and unlawful acts of the Government of Nicaragua, and asks the Department of State to notify said Republic in positive terms.

First. That the United States will not remain passive while the vested rights of its citizens are being unlawfully destroyed and the arbitrary act of Nicaragua in declaring ex parte a forfeiture of the Cardenas-Menocal concession on the 9th day of October, 1899, will not be countenanced.

Second. That the questions which have been raised as to the proper interpretation of the stipulations of article 48 of said concession must be referred to and settled by the court of arbitration provided for in article 55.

Respectfully,

THE MARITIME CANAL COMPANY OF NICARAGUA. BY HIRAM HITCHCOCK, President.

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 NICABAGUA,
HIRAM HITCHCOCK, President.

THOMAS B. ATKINS, Secretary.

Hon. E. A. HITCHCOCK,

Secretary of the Interior.

STATE OF NEW YORK,

City and County of New York, ss:

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, ss:

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.

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