The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-11-30

where these are supposed to exist, no sidings |
whatever are to be found between Suez and
Ismails, while the curves of this portion of
the work render the passage unusually dlfti-
cult. The correspondent to whom we have
referred also complains of the defective pilot
organization Few, if any, of the men
taking charge of vessels passing through
understand one word of English. The
writer's recommendation that the entire
channel be widened, SO as to allow steamers
to pass each other at any point, is not likely
to find acceptance for a considerable time,
the enormous expense 1t would involve rem
dering it at present impracticable.
One of the nsrrowest portions of the work
is just beyond Suez, where the canal leaves
the bay, and dredges are still busy in deepen
ing and widening the channel. From Chalouf
to the Bitter Lakes, however, 1T may be con-
sidered as complete in the sense of single
track" canal. Throughout its entire length
the course is we'll marked off, and no accident
need be apprehended from a want of neces-
sary buOys and landmarks. The minimum
depth at any point in the canal proper is
stated to be twenty.tw feet, that in Lake
Tmsah at twenty-one feet, and the banks are
described as firm and showing no signs of
drift. A tug is, however, deemed necessary,
even when the vessel in transit is a steamer,
and this is a decided disadvantage. The
total cost of passing through the eighty-six
miles and half of canal is, to vessels of fif-
teen hundred tons, about 600 sterling, or
some S320C.
And this suggests the question of income.
IT will be remembered that in June last the
directors of the company declared their in
ability to pay up the interest of the coupon
bonds due about that date, and it does not,
unfortunately, seem that their financial pros
poets have since improved. The total capi-
tai is put down at G16, 100000, of which q
! l. sc l,n1l |.
of Egypt. But to pay the interest due to
outside shareholders alone, an annual income
must accrue of e84O, 200, while the cost of
maintenance, dredging, ETC., is roundly esti-
mated at EGO, 900 for the same period. There
must, therefore, be total annual income of
Fl 200, 600, or about 81, 800, 900, to make the
canal bare success, quite irrespective of
any profit to the Egyptian Government; and
to furnish this, at the rate of ten francs a
ton, will require the daily transit of $3.50
| tons. The maximum traffic as yet reached
has never exceeded, though frequently fall
ing short of, two thousand tons. Many
causes have doubtless conspired to decrease
| the revenue of the canal during the past six
| months. The war now raging has had a
most injurious effect. But despite all this,
it cannot be hoped that the busy season now
commencing in India will so greatly add to
the traffic as to furnish a sufficient
| quantity OF tonnage TO uelray expenses.
Should il be found that this is the case for a
reasonable period after the declaration OF
peace, grave question will arrive as to the
manner in which the canal is to be main
tanned. The tariff of tonnage dues cannot be
increased, as that would render them prohi
bitory; and yet waterway requiring such
constant dredging and banking cannot be
maintained by any company at dead loss
Government aid must step in, or the labor
of years and expenditure of millions
will be thrown away; but nc
one power will permit another to assume
the preponderating influence which a sole
charge of the canal would insure to those
exercising it. The English capitalists may
turn out to have been correct in their pre-
diction-that it would never pay in business
sense. That it will ever be abandoned is
after the enormous effort used in its con
structioD, unlikely. Its ultimate fate will
however, possess greater interest for ou
mercantile community than was at frs
deemed possible, as there was an inclination
to doubt whether it would be worth the while
of vessels bound from China to New York tc
avail themselves of the short cut it offered.