Show I NICARAGUAN CANAL 4rhe Scheme las Made Favorable Progress of Late i Washington March 28Senate committee i com-mittee on foreign relations has under f consideration a bill looking to the rfe5 organization of the Nicaragua Canal i company and friends of the enferprize In the Senate are very hopeful of secur j1 ing a favorable report at an early day The subcommittee to consider the details > I l de-tails of the question has prepared a bill which i is understood is to be 1i submitted in a report to the full committee com-mittee today recommending the adoption j i adop-tion of enator Morgans bill with I t sfrme amendments This bill provides I fr the reorganization of the Cgjal companywith capital stock of one mil JUan shares of 5100 each for the Issu I J f I 1 jlJ dt ince of bonds payment of which will i be guaranteed by the national treasury and for the cancellation of the stock of the old company and prescribes the method of procedure under the reorganization j re-organization act j I I is not supposed the bill will go j through committee without opposi ton However there is little doubt but the bill will go on the calendar with a favorable report Friends of I the bill assert the scheme for building a canal across the Isthmus under the I auspices of the United States has made I material progress in public estimation I within the past few years and attention atten-tion is called to the fact by a member bf the committee that the president had changed from his attitude of hostility which he occupied nine years ago to I one of advocacy and that the legislatures legisla-tures of various states and chambers of commerce of several large cities I I have memoralized Congress in the in i rest of the enterprise advocating the i tiding of the canal by the govern nent or with Its support I is also asserted that the House committee which originally opposed the I neasure had changed in sentiment ands is now ina fair way to report a bill similar tq the Morganblll |