Report of Joseph L. Bristow; Special Panama Railroad Commissioner to the Secretary of War June 24, 1905 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1905 Excerpt: ...all documents, of whatever nature, drawn up in the execution of this contract, shall be registered without cost. Article LV. The Company binds itself to pay annually to the Government of New Granada three per cent, of the net profits of the enterprise, in the same proportion in which they are to be distributed in form of dividends to the shareholders, without taking into account, in the payment of the said three per cent., any deduction for the supposed interest of the capital of the Company, or for any sum which the shareholders may designate as a reserve or sinking fund. It is stipulated that for the receipt of this duty, the Government of New Granada shall look, with the shareholders of the enterprise, to the accounts produced and liquidated at the general meeting of the Company, which accounts the agent of the Republic may examine, and in respect to them he may make observations in the same manner as any shareholder; but without power of interfering in the general management of the Company. Besides what is stipulated in this article, it is also agreed that the payment of the said duty of three per cent, shall be made at Bogota, Panama or New York, as the Government of the Republic may direct. Article LVI. The Company selects New York as its domicile, and will maintain in Panama a representative with powers sufficient to act in its name in all cases where it may be necessary. Article LVI I. The present privilege cannot be granted or assigned to any foreign government, that is, to any government out of the New Granadian territory, under penalty of forfeiture of the privilege, by the mere fact of attempting or carrying into effect such grant or assignment; and, although it should at any time be attempted or carried into effect, it will be, and from this ti...