National Republican., 1883-06-15
rroM eu1r mo- OCEAN.
An Interview with Director OF the
Florida ship Cnnal-ProsPccts ofnie I'm
terprise, and the Men Who Are Pushing
NdshpiRe American.

terprise, and the Men Who Are Pushing
It.
Nashville american
In an interview with an american reporter
at the Maxwell last evening Mr.. Charles II.
Jones, one of the directors of tho Florida Ship
Canal company, made the following interest
ing statement:
He said ho was on his way back from New
York to Jacksonville, Fla, and attended the
meeting of the directors of the Florida Ship
Canal company held in New York last week,
in the formation of which he acted as secre-
tary pro TEN. in the absence Of Mr.. George G.
Gorham. On the day prior to that meeting
Gov. Brown signified his formal acceptance of
the presidency of the canal company. He did
this, after having had long consultation with
Jay Gould, who recommended him to go into
IL actively and prosecute the building of it
vigorously, saying il was one of the great en-
terprises of the country.
The chairman Of tine executive committee
of this company expects TO get report and
chart Of the preliminary survey by the end
of this week.
The celebrated Gen. Charles p. Stone, of
Eyptian fame, is chief engineer, and was ap-
pointed at tho accommodation of Senator
Sherman. If Gen. stones report turns out as
expected it is altogeter probable that MIR.
Sherman will identity himself with the
its financial management.
The securities of the company will not be
put on the market until the line is located
the termini selected, and the specifications
for contractors prepared. 1t is expected this
can be done by Sept 1.
Gov. Brown was voted q salary of $4,000
per annum as president, and Senator Window
has been proposed as vice president, and holds
the matter under advisement.
Gen. Stone expects to be in Florida in
about two weeks, when the work of survey
ing the actual route will be begun. His as
sistant Mr., A. L. Hill, is now in the field
finishing the preliminary survey.
| 1t is expected that the most difficult OBJ
staclo tho company will have to surmount
will be the securing of tormini on the At
lantc and gulf coasts, but tho engineers have
! been already offered the choice of two suit
able points on the Atlantic and two on the
| gulf side of the peninsula, either one OF
which, it is thought, will be available for the
purpose.
Gen. Stone thinks he will be able to make
| his final report within the next six weeks.
Arrangements have been made to secure
two powerful dredges, already built in Phila-
delphia for the Panama ship canal and cost
ing $3000 900 each, which will be put in opera
tiOn as soon as the work is commenced. Each
of these dredges can do the work of 5000
men.
| upon Jne uuth maui up lTOIl Jho ouINcya
already made by the government with view
of building lock canal, IL is estimated that
the present ship canal can bo completed
within two years after it is commenced.
Offers have been made by both English and
American syndicates to take hold of the com
panys bonds whenever issued.
Mr.. Jones continued by saying that the
character of the gentlemen connected with
the enterprise guaranteed its being q legiti
mate enterprise and not q mere speculative
bubble for none of these gentlemen coulC
afford to lose cast and character by being
connected with any enterprise of the lattel
sort.
The project Is the building of tide waite
canal one hundred feet wide, and thirty fee
deep, crossing the entire peninsula, so tina
the largest sea a-going vessels can pass through
it heavily laden
In order TO estimate the profit to be mad
by the company constructing this canal thu
nominal cost of the Suez canal is taken
which was some S92,000,000 Even on thi
inflated capital dividend of 23l per cent
was paid on the investment with the proceed
of last years earnings 1t is also estimated
that the traffic now awaiting the opening o
J the Florida shin canal is at least twice a
much as that passing through the Suez cana
last year, so that half the tonnage that woul
pass through tho Florida ship canal woul
pay as much as 23l per cent But the csti
mated cost of the Florida ship canal Is onl
between twenty-five and thirty millions
From these facts the profit on the cnterpris
I can be Safely estimated as very large, II
marked Mr. Jones.
Mr.. Jones Is tho editor of the Times Union
of Jacksonville, tho only daily paper il
Florida.