Jasper County Democrat, Volume 2, Number 12, Rensselaer, Jasper County, 1 July 1899 — NEW CANAL COMBINATION. [ARTICLE]

NEW CANAL COMBINATION.

It Propose* to Construct an Isthmian Water Way.

Articles of Incorporation for the American Isthmus Ship Canal Company have been filed in TreDton, N. J. Through these articles the first announcement was made of the new combination, which, it is said, includes many men of large wealth, headed by former Mayor William R. Grace, and expects to carry to completion the isthmian canal scheme. Although the nominal capital is $30,000, the articles of incorporation give the right to increase it to $250,000,000. It is estimated that between $150,000,000 and $200,000,000 will be needed to carry out the project, the greater part of which will be expended in buying off the holders of concessions. According to the papers of incorporation, the object of the company is to acquire any and all concessions, rights and franchises on the American isthmus, to build a canal from the Atlantic to the Pacific oceans, to own lands, mines and railroads; to colonize and to build, own and operate any canal from ocean to ocean and to obtain aid from the United States, England, France, Germany or any other Government to that end.