Incorporation of Panama Railroad Company: Hearing Before the Subcommittee of the Committee on Armed Services, United States Senate, Eightieth Congress, Second Session, on S. 2002 and S. 2747, a Bill to Amend the Canal Zone Code for the Purpose of Incorporating the Panama Railroad Company, May 19 and 25, 1948

U.S. Government Printing Office, 1948 - 56 pages
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Considers (80) S. 2002, (80) S. 2747.

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Page 23 - Commission, which, together with the present organization, shall then cease to exist; and the President is authorized thereafter to complete, govern, and operate the Panama Canal and govern the Canal Zone, or cause them to be completed, governed, and operated, through a governor of the Panama Canal and such other persons as he may deem competent to discharge the various duties connected with the completion, care, maintenance, sanitation, operation, government, and protection of the canal and Canal...
Page 6 - ... to adopt, amend, and repeal bylaws governing the conduct of its business and the performance of the powers and duties granted to or imposed upon it by law...
Page 6 - The director shall be appointed by and hold office at the pleasure of the governor, and shall receive a salary of five thousand dollars per annum.
Page 6 - In the appointment of officials and the selection of employees for said Corporation, and in the promotion of any such employees or officials, no political test or qualification shall be permitted or given consideration, but. all such appointments and promotions shall be given and made on the basis of merit and efficiency.
Page 9 - The Republic of Panama grants to the United States all rights which it now has or hereafter may acquire to the property of the New Panama Canal Company and the Panama Railroad Company as a result of the transfer of sovereignty from the Republic of Colombia to the Republic of Panama over the Isthmus of Panama and...
Page 6 - War, may be paid by the corporation a reasonable per diem compensation for attending meetings of the board and for time spent on special service of the corporation, and their traveling expenses to and from such meetings, or when assigned to such special service.
Page 44 - Chauncey, and of purchasing and navigating such steam or sailing vessels as may be proper and convenient to be used in connection with the said road; and for such purposes all the necessary and incidental power is hereby granted to the said corporation.
Page 2 - That the management of the Corporation shall be vested in a board of directors, consisting of...
Page 2 - Upon any such payment a receipt therefor shall be issued by the corporation to the United States and delivered to the Secretary of the Treasury, and shall be evidence of the stock ownership of the United States. There is hereby authorized to be appropriated the sum of $10,000,000, in addition to the $5,000,000 heretofore authorized, for the purpose of paying such subscription.
Page 45 - States was to foster the development and encourage the maintenance of a privately owned American marine.

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