Salt Lake Telegram | 1902-06-20 | Page 7 | Provisions of New Panama Canal Bill

PROVISIONS OF NEW PANAMA CANAL BILL W WASHINGTON June 20 The The Isthmian isthmian mian canal bill passed by the Senate Yest yesterday provides substantially as follows follows follows fol fol- fol- fol lows Section 1 authorizes the President to acquire for the United States at a cost not exceeding all of the rights privileges ila franchises concessions concessions concessions conces conces- grants of land Imd right of way unfInished unfinished unfinished un un- un- un finished work and other property o o ned by the new Panama Canal company of France on the Isthmus of Panama provided provided provided pro pro- vided a a. a satisfactory title to all ail of 01 said property ty can be obtained Section 2 authorizes the tile President to acquire from the republic of Colombia exclusive and perpetual control of a strip of ot land and not less than six miles wide from the Caribbean sea to the Pacific ocean for canal purposes By section 3 Is appropriated ed to pay for the property of the new Panama Canal company and a sufficient sum sum- dent amount to pay Colombia for the territory acquired from that country for building the canal The President Is then through the Isthmian canal i i commission authorized by the act to proceed with the construction of the I I canal utilizing as far as practicable I Ithe Ithe 1 the work already done By section 4 the President is given I the he alternative authority of proceeding proceeding proceed proceed- ing log with the construction of an isthmian mian canal by what is known as the Nicaragua route in the event that he heIs heis heis Is unable to secure a satisfactory title to the property of the new Panama Canal Canal Canal Ca Ca- nal company and the control of the necessary territory from Colombia An appropriation Is made of such sums as 9 may be agreed upon by treaty as compensation compensation com corn to to- Nicaragua and Costa Rica for concessions and rights granted to the United States Section 5 appropriates to toward toward toward to- to ward the project contemplated and provides that appropriations are notto not notto notto to exceed in the aggregate the additional additional addi athIl- sum of if the Panama Panama Panama Pan Pan- ama route be adopted or should the Nicaragua route be selected Section 7 creates ai an Isthmian canal commission of ot seven members to bo be nominated by the President and confirmed con- con i firmed by the tM S Senate nate Under section 8 S authority is given for tor the Issue of 2 per cent centI I gold bonds to meet the expenditures authorized au au- by the act They are to be I Issued from time to time as the proceeds proceeds proceeds pro pro- may mt b be 00 required are to be In denominations of 20 or some multiple of that sum redeemable after atter ten years and payable in twenty years the in interest interest interest in- in terest to be payable quarterly in gold coin None of these bonds are to be besold besold besold sold to pay the sums appropriated in sections 1 and aid 2 of the act or the 10 appropriated by section 5 Big Dynamo Starts BUTTE Mont June 20 An An horse SOO-horse- power ower dynamo the largest In the West Vest was started up yesterday afternoon at the Anaconda mine In Butte with power powen pow pow- er en generated by the Missouri 1 River flyer Power company's a plant In n kat Canyon nOr Ferry a dis distance distance dis- dis rOOp f n tance of miles B A test of the dynamo made this morning was entirely satisfactory satisfactory tOr tory and the power was turned on this afternoon The dynamo r runs the compressor corn com 1 presser ressor at the mine The power line lino crosses the main range of the