, 1879-05-31
THE 1STHMIAN CANAL,
Why tho 1'anat1n naltrnad Peopts Arc Not
Worried by tho I'arfx Unu1Foss.
Nan INF LFstrfd

WHY tho Panama Haltrnad People Are Not
Worried by tho I'arf2 UnuXross,
Se,o 1are Horld.
afr. John q. Mccullough. OF The Panama Rail.
Tond Company, accorded an Interview to a
World reporter yesterday at the Office Of tho
company In Wall strcet, on the subject of the
proposed shtpcanal which ID 10 sc7cr tic two
Continents Of North and South America. Mr.
Mccullough Is a lawyer by profession. and be II
son.in.law Of Mr.. Tronor W. Park, President o,
The Panama Railroad Company. Concerning
the great undertaking Of ship-canal 10 coii.
meet tic two occans and it, probabIc results, lie
ftokc iutclligcntiE, Of course, but with great
caution.
"Tltat such canal will be constructed some
time have nj doubt" satd he: but It will
not hs to-day nor Tomorrow. think that by
tho time such a rork Is completed, or eren
1airlY Begin, | shall he whero l witt hare
notang mere to 90 with rs'lrnads, and Jou,
perhaps. will be taking your longest vacatEon.'s
:" Hut the International Congress at Paris has
already decided upon the route Of the canal.
what elect Viii that have upou your taIlsoadl i"
don't think It will have very much effect,
fnr the reaaon that VIC are protected by our con-
tract With the United States Of ColoInb1s. IN
this contract 1t Is stipulated that no maritime
canal to unltc the Two oceans shall be con-
sfr'ieted across the isthlnus without the concur
AG1S1 NIIA NNHaElk " lHE EAlIOlk1 EoulQ C{
rather 1t Is provided that no such canal shail bc
constructed without our being awarded, In ease
wo do not consent to Tie undertaking, 4
snm sufficient ia. indemnify US for dam
agcs anil to pay us for the privileges We hold OF
acting as carriers on the isthmus. We have re-
served to US by the Colombian Goyernmcnt the
exclusive right to operate anywhere to the west.
waru sa,,t 2! Cape Iibuson on t,o Atlantic and Of
route yet proposed that does not lie wholly or
f,HrtlY within this g]mnaAs.H y
What will the railroad company be Itkcly to
demand ocloro eonsent!ng to the construction oi
swell, at that IS so remote that for one
hare, hardly given Il a thought. Wo should
certainly demand our rights lii full. md that
w1ufd probably be equal to the whole amount
FL oI our %hpI,e %Sapsal ~ ssock, say $40 or
to transport largo quantities OF freight, The
catal being completed and opened there ta no
telling Whist would become OF us. But as said
before, regard tllat das - 70 remote a to be
Why do you thtnk II wilt bn SO long tine
before tho canal will bc coustructedf'
"Becauke It 10 such vast undertaking. You
kno" 1t has been talked Of seriously for great
canal Will no doubt be built some time. IN any
event our rights arc secured to us, OHn contract
With the Republic OF Colombia provides that in
casa the Run which we demand Tor damuCcs Is
LHuuEHL III ue LOU iaIRt D{ tlit t0[O1nDtau G0V-
eri,tnent we arc to iearo It to arhtraturs ia New
York or Panama to decide what the sum shall
be. Clue arbitrator would DO chosen by tho
Government auA one by Tic Compuny. ahoutd
the two arb!tratoEs full to agsso they would ~.
lcct third whose decsion would be llnal and
without appeal"
Speaking Of tho extent OF the Comnany's
business anu tue condition Of the road, Sir. Mr-
Cultoueh said that Inst year they transported
lnore than 15o'oo0 tons q freight nnu carried
aoout e5, 0oo passengers. THIS yrnr tho amount
of work loar By tt1e rond would bo good
deal larger. Tho fresghts, which constitute
tic greater part Of tlIu CompauY's business,
are tnade up Chiefly Of colTer, Cocoon, bari, aud
cotton. Last .5ear tho gross earnings OF tho
rood amonntcd to about 81, ,115,ooo tl,u gross
expenses belng, less tllun t550,0OU. The Com
pany. however, bus to pay all atnual subsidy of
sa50, ,0D0 10 tho Colombian Government, ind
thfs, together with sle interest on bonds,
amoountns to about s24o, ,o0o, INCREASED tile az
tunl expc.lscs ot the road to about 81, ,0S5, ,n10,
,yhcl, ls!t q uot balance, or profit, OF about
$1,0S0, 001 The roatl-bud and truck ars in
good order. The Company, during tlle pnst
ycar. has been putting lown new rails Of steel
over The grcater paFt ol tho line from Aspin-
Nall to TauaJtla,