142

WAREHOUSES  TN  FOREIGN  COUNTRIES.

debt  at  par,  shall  be  held  by  the  Government,  to  be  returned  to  the  concessionaires ­
  as  provided  by  the  law  of  March  19,  1897.
Art.  21.  Debts  due  the  federal  treasury  for  responsibilities  of  any  sort  of  the
company  which  exploits  the  warehouses  shall  have  the  preference  mentioned
in  article  106  of  the  general  law  governing  institutions  of  credit  for  the  debts
due  on  account  of  contribution  taxes  on  credits  of  whatever  sort,  real  or  personal, ­
  which  the  company  may  have.
CONCESSION  OF  THE  MEXICO  AND  VERACRUZ  WAREHOUSES.
Following  is  a  translation  of  the  concession  under  which  the  Mexico
and  Veracruz  Warehouses  (Incorporated)  is  acting:
Article  1.  The  Mexican  Bank,  the  Mercantile  Bank  of  Veracruz,  and  the
Anglo-Mexican  Banking  Company  (Incorporated),  in  conformity  with  the  law  of
February  16,  1900,  are  authorized:
I.  To  establish  in  this  capital  and  in  the  port  of  Veracruz  general  bonded
warehouses  to  receive  foreign  merchandise  on  which  the  import  and  additional ­
  duties  or  port  dues  have  not  been  paid.
II.  To  establish  in  said  points  and  in  any  others  which  may  be  deemed  convenient, ­
  within  a  radius  of  50  kilometers  of  the  City  of  Mexico,  general  commercial
warehouses  to  receive  national  merchandise  or  foreign  merchandise  on  which
the  customs  and  other  dues  have  been  paid.
III.  To  set  aside  in  its  buildings  suitable  places  for  the  display  of  samples,
in  storage,  on  which  the  duties  have  not  been  paid  and  which  may  be  reexported.
Art.  2.  The  general  warehouses  established  in  accordance  with  this  concession ­
  shall  be  subject  to  the  provisions  of  the  laws  on  the  subject  and  to  the
following  bases  :
A.  The  name  of  the  company  shall  be  “  Almacenes  Generales  de  Deposito  de
México  y  Veracruz,  S.  A.  (Mexico  and  Veracruz  General  Storage  Warehouses,
Incorporated).
B.  The  capital  stock  shall  be  2,000,000  pesos  ($2,000,000),  with  the  privilege
of  increasing  it  with  the  previous  authorization  of  the  treasury  department.
C.  The  principal  domicile  of  the  company  shall  be  the  City  of  Mexico.
D.  To  guarantee  the  establishment  of  the  general  bonded  warehouses  the
company  shall  deposit  in  the  general  treasury  of  the  nation  the  sum  of  200,000
pesos  ($200,000)  in  bonds  of  the  3  per  cent  consolidated  debt,  or  150,000  pesos
($150,000)  in  5  per  cent  bonds  of  the  interior  amortizable  debt.
E.  Of  this  deposit  the  Government  will  retain  100,000  pesos  ($100,000)  of
the  bonds  of  the  3  per  cent,  or  75,000  pesos  ($75.000)  of  the  5  per  cent  debt,  in
conformity  with  article  20  of  the  law  of  February  16,  1900,  and  the  rest  of  the
bonds  shall  be  returned  to  the  company  as  soon  as  it  has  commenced  its
operations.
During  the  entire  time  of  the  deposit  the  company  shall  have  the  right  to
collect  the  coupons  of  interest  due.
F.  The  transfer  of  the  concession  shall  be  null  unless  expressly  approved  by
the  treasury  department,  with  the  exception  of  that  authorized  by  article  10  of
the  general  law  of  institutions  of  credit  of  March  19,  1897.
G.  To  compensate  the  Government  for  the  amount  of  the  expenses  of  supervision ­
  the  company  shall  pay  into  the  general  treasury  of  the  nation,  in  quarterly ­
  installments,  the  sum  of  3,000  pesos  ($3,000)  per  annum.
The  company  is  further  obligated  to  pay  the  salaries  of  the  employees  who,  in
conformity  with  the  regulations  and  dispositions  relative  thereto,  are  named  by
the  Government  for  the  inspection,  vigilance,  and  guarding  of  the  merchandise
which  may  be  received  in  its  warehouses.
H.  The  company  shall  enjoy  for  twenty-five  years,  counted  from  March  1&
1897,  the  franchises  and  exemptions  from  taxes  authorized  in  section  6  of  the
law  of  said  date  relative  to  institutions  of  credit,  and  further,  until  January  1>
1905,  the  exemptions  conceded  by  article  15  of  the  law  of  February  16,  1900.
I.  The  term  of  this  concession  is  forty  years,  counted  from  March  19,  1897.
J.  All  controversies  which  may  arise  with  the  Government  relative  to  this
concession  shall  be  submitted  to  the  courts  of  the  Republic,  with  the  exception
of  those  which  should  be  decided  administratively,  in  conformity  with  the  laws.
Art.  3.  The  company  may  make  use  of  the  right  conceded  in  article  16  of  the
law  of  February  16,  1900,  to  construct  in  Veracruz  tracks  connecting  its  warehouses ­
  with  the  docks  and  railroads  constructed,  or  which  may  be  constructed  >»
the  future,  referring  to  the  department  of  communications  and  public  works  ¡ n