The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-24
CENTRAL. AMERICAN TRANSIT.


Tho Honduras Railroad Loan In Rnsfana.
from tbs Loudon Times (city articls) Nov. Ill
project connection with the rrepressble question u
the transit across Central America On this the
tSs ,s.s II Her",0 sr Apa sn'ry mss through
Atlantic. 70 the Bay OF Fonseca the Pacinc which,
although much longer than that OF Panama, has the
advantage OF saving los miles In the navigation
between New York and California and British Columbus
Tho allegation IL that can DO Constructed for e. 600
per MILE and, indeed contract has bees entered into
FOR Us entire completion at that rate including stations
and rolling stock Even ct this low charge, how ever
TIE cost would be nearly x20o Oooo double the
legitimate commercial plan has been agreed upon Tho
State Of Honduras 10 to hypo.hecats all its domains
loan and rs redemption By yearly drawings within
seventeen years. and the proceeds Of this loan are TO
mako section OF the railway which will those
shipment According 70 the views Of the projectors
ample funds viii thus be supplied for al further wants
issued Al the prce Or ssot w,h r1 SunS az
three per cent per AMMAN for Their redemption at par
Each bond Is Also to be accompanied by free share
nng the holder to proporti0naie participation in
half Of the net profits Of the railway FOR fifteen years
after tho bond itself should have been repaid Ii
they require to be carefully weighed Without any dis
parasemens to the honesty OF tho intentions OF the Hon.
aSv a may es assumed that ss financial
money lending TO the small republics Of Central and
South America has 10 general way been too discour-
guarantee Of such loan unless everything in connsc
ton with IL should 60 veil Still with the facilities that
exist for asceraining positively whether the line be
built on the low terms named, and whether the timber
described actually available and 70 also OF the asserted
commercial value In the European and American mar
kss, there ought 70 be SUFFICIENT certainty TO place the
matter In the position Of far and rational venture
Both In London and New York conviction 10 very
generally entertained among those Of the mercantile
classes BY whom attention has been given to the pros
pects OF the future tao between the Atlantic and Pa
chc that II every OF the routes from time 20 time
suggested during the last twenty years. namely, tho
Atrat0 the Chiriqu the Nicaragua, tho Honduras and
the Tehuantepsc-wers opened up they would each
have m extraordinary business and would all yield
rapidly increasing revenues Any d,strust that may DO
entertained with regard 20 them soeIy in relation
the probabilities Of there being particle Of good faith
in the estimates which Subscriptions invited or
reasonable ground 10 bsye that the funds will be
squandered In wholesale jobbery among promoters en-
gnsers and contractor II these causes OF want Of
confidence could b dispoed Il might not be vain, even
enterprises such this The Panama line last year paid
"A per cent In dividends and gave In addition bonus
OF 20 cent out Of prots and this the
face Of the check TO rc By enormously high fares and
line has been stated By Colonel stanton who surveyed
with party OF Royal Engineers that the harbors
both termni unexcsutionable and that Il can be
constructed without any sharper curves or heavier g
locomotives work without difficulty Il 10 the question
OF the mahogany forests which more definite sats-
faction ID mainly required Tho prospectus that
careful estimates have satisfied the Honduras govern-
. government DESTROYS Of borrowing money are mot
necessarily convincing TO the parties who invited 10
lend IT, and well considered statements from per-
Of repute In the trade should therefore DO obtained
strengthen the claims OF the enterprise 10
Messra Bschonsheim, Goldschmidt CO., OF Paris are
the firm by whom IL ID introduced IN conjunction with
The London and County Bank on this side.