New-York tribune., 1875-11-15
PROPOSED NEW LINE TO CALIFORNIA.

PROPOSED NEW LINE IL CALF Ol(NlA'
MEETING or THE PANAMA RAILWAY DIRECTORS
REPORT OF TIE COMMITTEE On STEAMSHIPS AND
MEANS FOR A THROUGH LINE.
The directors of the Panama Railroad Com
many met at their Office in Saturday to re-
cei the report of the Committee on forming through
line from New-York San Francisco. This report was
adopted 1t is signed by c. X Garrison, c. g. Franekyn,
and John VI Burke and the most important parts Of 1t
follows:
Yonr Committee are Of the opinion that the interest OF
this Company would promoted by it, owning and OI
Grating steamers necessary to run trmonhy Iinc De-
tween New-York aud san Francisco ana a hne . rom
Panama 10 Central America when WOuibreq!te steam
ers follows: o.,u.r.
Between Panama and san Francisco ',e.sis
Between Panama and Central Ameroa....' - ieAAel'
Io''i'''--''-''''''''' i,o-f or iiNF
steamers to form the through Inc between Ney o ooo
steamers panama 70 Central America at 1880
100000 eaci-.--. '''''''''''''' ',
- .,.,,,or. SIS OOO5
~ i estimated for frst-cass iron propeer
for the line 10 san Francisco eight, capable OF accolno-
DAT inc 200 cabin and 300 sccrage passengers aud -vu
tn ri,bt: those to Central America, with acc0mmO-
dations Tor 30 cabin passengers and Loo tohs freight
IN 0urv We cannot ascertain That more than two or
CCI ,iIeadv bfitIt suitable for the main line.
could he purchased chartered. Even those are NOT
INST what would De desired II i- easy To ud steamers
,i,.1i, M nm to Central America a. they are not
o,r-d TO De- American built. and they Dee purchased
when required. n the ships are 10 be uil' We can
make one ,fp each month on aud after July next TWO
trrs IN Suember ana three ups in December oi next
ye5r The Company viii be ablc g. procure the smaller
steamers as soon a. desired. We estimate that thf
steamers IN a round trip between Ncw-lork and san
francisco. would receive each round trp at lea.l
400 900. total expenses not exceeding N,JuJi hct
rrndf each round trp 10000 Three trips each month
would give estimated profit oi@loOOOO OF per aHhnih'
Sl.S0O,OOO. ,, ...u....,..l ,,.
III conclusion. your Committee Woud lrcohihchu tIe
adpuffgn of the following resolutions;
y,oIrsI Committee consisting ~ Mc,sf7 ''ai7'n
rnsLlv .to which, motion. iht Flcsiclt +
me va. aide be appointed % enter into contract ar con
trr. for tine purchase by t. Company oi ships necessary 10
Uste mi monthly line in connection WITH tle iiintN Vi
1.aft4 New York
line cen Panama aud Central America Jui no A con
f1,f to b. binding this company until i' same l- lae
by the Of Directors after us same daw4 up ,
geored That Company vii issue IT. bonds, ana at'
tl. -.ue hy mortgage its property 10 Inc amount oI
10000 0n tc ti-t day ~ JaldaIt o
n 100 90 each january thereafter uit te "io' are
IA +d bonds interest az the rate ni per cen! pr
urum uavabr IN uted stale. legal tender currency II inc
office Of the Company IN the city Of NtN- loiA ~, ~, .
rifsJ This ie-0luou shall not bc I'm force uu ailri
contract b. concluded tn purchase o e steamers, OF
rorfiou of them. mentioned n the ni-t resolution
The Committee appcnds estimates from shlpluliuci
tor tle new steamers. John Roach proposes 10 buId
us Of the C,lma pattern $4,000 each, and says
Ie viii deliver the ist complete in sX months ana one
monthly thereafter. VIM Cramp * sons OF Plihdeipht
of,,.r 10 construct the steamers Tor 10000 each