The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1883-06-14
BROWNS CUTOFF.
Prospects of the Florida Ship
Canal and the Men Who
Are Pushing 1t.


Canal and the Men Who
Are Pushing 1t.
In an interview with an Ameri-
can reporter at the Maxwell Mon
day, Mr.. Charles II. Jones, one of
the directors of the Florida Ship
Canal Company, made the follow
ing interesting statement;
He said he was on his way from
New York to Jacksonville, Fla,
and attended the meeting of the di
rectors of the Florida Ship Canal
Company held in New York last
week, in the formation of which he
acted as secretary 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 a long consultation
with Jay Gould, who recommended
him to go into it actively and pros
ecute the building of it vigorously
saying it was one of the great en-
terprises of the country.
The chairman of the executive
committee of this company expect
to get "a report and chart of the
preliminary survey at the end of
this week.
The celebrated Gen. Charles P.
Stone, of Egyptian fame, is chief
engineer, and was appointed at the
recommendation of Senatar Sher-
man. If Gen. Stones report turns
out as expected it is altogether
probable that Mr.. Sherman will
identify himself with the scheme
and be prominently connected with
its financial management.
The securities of the company
will not be put on the market un-
til the line is located, the termini
selected, and the specifications for
contractors prepared. 1t is expec-
ted this can be done by Sept. L.
Gov. Brown was voted salary
of $25, 900 per annum as president,
and Senator Window has been pro
posed as vice president, and holds
the matter under Amusement.
Gen. Stone expects to be in Flor
ida in about two week, when the
work of surveying the actual route
will be begun. His assistant, Mr..
A. f. Hill, is now in the field fin
ishing the preliminary survey.
1t is expected that the most diff
cult obstacle the company will have
to sufmount will be the securing of
termini on the Atlantic and Gulf
coasts, but the engineers have been
already offered the choice of two
suitable points ON the Atlantic and
two on the Gulf side of the peninsu-
Ia, 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, al
ready built in Philadelphia, for the
Panama ship canal, and costing
100000 each, which will be put in
operation as soon as the work is
commenced. Each of these dredges
can do the work of five thousand
men.
Upon the data, made up from the
surveys already made by the gov
eminent with a view of building a
lock-canal, it is estimated that the
present ship canal can be completed
within two years after it is COM
menced.
Offers have been made by both
English and American syndicates to
take hold of the company's bonds
whenever issued.
Mr.. Jones continued by saying
that the character of the gentlemen
connected with the enterprise guar
anteed its being a legitimate enter
prise and not mere speculative
bubble, for none Of these gentlemen
could afford to lose caste and char
acter by being connected with any
enterprise of the latter sort.
The project is the building of a
tide water canal, one hundred feet
wide, and thirty feet deep, crossing
the entire peninsula so that the
largest sea going vessels can pass
through it heavily laken.
In order to estimate the profit to
be made by the company construct
ing this canal the nominal cost of
the Suez canal is taken, which was
some $92,00O,0O0. Even on this
inflated capital a dividend of twenty
three and half per cent was paid
on the investment with the proceeds
of last years earnings. 1t is also
estimated that the traffic now await
ing the opening of the Florida ship
canal is at least twice as much as
that passing through the Suez canal
last year, so that half the tonnage
that would pass through the Flori-
da ship canal would pay as much
as 234 per cent. But the estimated
cost Of the Florida ship canal is
only between twenty-five and thirty
millions. "FrOm these facts the
profit on the enterprise can be safe
ly estimated as very great re
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