TELEGRAPHIC NEWS l A Opposed to the Nicaragua Canal New York GThe Graphics Washington Wash-ington correspondent say Congressman Blount of Georgia who was granted sixty days at the close of the last session by the Sou = e in which to make a rain > rity report upon the bill to incorporate incorpo-rate the Nicaragua canal will present the document in a day or two There are many reasons in Blounts opinion why Congress should not guarantee interest on an immense amount of bonds which the company arks as a basis for beginning be-ginning operations He meets the argument arpuel by the ejectors of the can 11 that we need a shorter route by water from New York to San Francisco with a counter argument argu-ment that the Pinama canal ia aready being built and the beginning of another at Nicaragua would not stop the operations opera-tions of De Lesseps and that one canal is enough The strong point made in the majority report is that for political reasons rea-sons and for the protection of americas supremacy the United States should appear ap-pear as sponsor and protector of an inter oceanic canal company is answered by Blount by the statement that the canal would be controlled eventually by its stockholders There is nothing noth-ing to hinder the eitizans of any country from buying a majority ol its stock when pased upon the market and investors would look to their own government for the protection of their interests and capital and such guardianship guardi-anship would naturally be granted Itt It-t ien would make no difference as to what government would guarantee in tbe beginning tha interest of the bonds that government would control the canal whose citizens had the largest amount of capital invested in its stock Blount also finds some technical objections to the construction and provisions of tbe bill