Show THE NICARAGUA CANAL report of committee appointed to investigate its condition new york doc dec 8 the committee which has been investigating tho tile affairs of the auga canal construe tion company and devising a plan for re reorganization organ made its report to today lay ti the co banys accounts show allow an investment in actual cash and interest there of in securities issued tor for purchase of plants total 64 tho the floating indebtedness debt edness as shown at the time of the receivership amounts to including some disputed items of this amount is due the maritime canal co company for money loaned the construction company compan y it lias has been agreed with tile maritime ar il me canal company that in case of the tile reorganization under dir the plan proposed by the commit to tills this indebtedness maybe liquidated by the surrender to tile canal company of securities the committee recommends the elie shareholders to act together for the organization ofa of a new company which shall acquire the assets and rights of the tile existing company tile plan submitted provides for th tho e creation of a new company wit with I 1 h a capital stock of of which is to be retained for the tile benefit of the treasury and 0 aff be distributed to the stock imia eret tho the present coan company a ny iu in excil exchange for old stock or sold for r c cast h requirements and to protect and maintain tile present plant and property of the tile company the new company will own all the tile assets of the present company and will have in it the tre treasury usury stock of the tile Alari maritime time canal company amounting to and obligations of the first mortgage bonds of the maritime canal property amounting to and of its own new BW stock |