New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-11-19
which the company became indebted and the yeAri'
interest charge incurred TO date, are shown as oows
slll.97j, 900 $l53. 2SS, 700 s6.074,,

In addition 70 tina amount already raised the remain
Ing half can lie called ou the shares and II PAID III lu
Will yield S29,5O0,O00 This will Involve |e"rS
charge OF Sl,17j,00O But VI. RodTlgueS heE'ee's "
call attention In the proper place to the lae lnS' '
Panama Railroad paid last year 10 per cent Oh S S'
or 81 OOO aud this should nc dedne'eu iiol n
interest on the bonds OF lsS2 which were l'sue' i
that road This the Interest charge
thus far incurred to 1891 5i5, and when the REMAINING
half is called the stock, to SGi295i5 But Wheh 'h7
call has been made, and Sll0S75,oOo has then peeh
realized in cash, there will still he needed for the cohple
ton OF the work, as De LesseIs now admits III DIS
application TO the Government, G00G0o00O francs or
$4,000 600 more; that il. the cost VIII be AT least
$500 10000 cash. or 300 900 600 francs lnseaa OF e
700 100000 fraLcs which only three mouths ago Do
esseps declared would the cos. OF the canal proper
But VI. Rolrigues presents the strongest possloe
reasons for believing that the canal canrot bc hnished
for that sum. He shows that in May Of this year.
according to monthly bulletins OF the company 'he
excavations had only reached i2,376O1O cuhic mctrC:
and though The official statement at the latest mced'
with characteristic bcmuidlement. does not agree Win
tho Official bulletins. at the outside Tie excavation
cannot exceed 49, 900 cul c metres The remainder
of work to be done not Including the ChagreS prov ich
is Therefore llG0OOG00 cubic metres when NJ
low estimate must II iOo000O0 Ent the ChagrrS
problem will also cost how much nobody knows III
confessed that the engineers are stu engaged III
laorious stulies of this problem; that is lucy arc
still trying 70 tinl out whether the undertaking IL
practicable at ALL after $l2O.000,00O has been raised
and probably about all spent Putting thh cost {" con
trolling the Chagres, II 1t can be done at al'' "'
$40 900 600 there Is besides he ldcd the Interest on
capital which. if the proposed loan OF Tl2oooo"Uo NC
effected at only per cent. will amount 10 Tll%@o''l'
yearly If the bonds at the sane rates at WHEN TIE
last were SOLD this loan will yield only aoo''
100000 This and the remaining half que on the
shares will supply only Sl0?oOO'OOo OF $IooV'oVo
less than the probable cost Of the remaining work. even
all ~ q
interest VIII for years at least amounting to
81 > 900 coo. for not OF the many competent
observers who visited the Istnus within tho past year
has estimated that the work can be finished III less IMAM
ten years 1t scarcely pretended that 1t can he sen
in the most dicut parts faster than 1t was last year
Lieutenant Winsow anls that If the past rate OF eNcava
ton should be douboI the work would yet take twelve
wears In the Calcbra section less than one eiNth OF
% 900 900 cubic metres OF rock has been removed anu
in the Obspo section there are also -Joo"Uoo 'up'
metres and the axmum accomplishment hus l'r is "'
the rate OF 100000 yearly. Then there are also the
cxpenses OF admnisraO ion in Paris aud IN I mama
81 600 900 yearly for at least ten years And when
the $7l O00,O the estimated deficiency IN resources
for constructions and the 100 for interest ana
the $lG,00OO00 for Administrative expense nave been
snpried by more borrowing, there will De sh more
interest on the nouey borrowed not less than per
cent ar SIOOOOODO yearly. in all sol 0OJ.oOo.
And in addition there will be cost OF about S2O0oOOO
yearly for the administration OF the canal NJ EpdFlsueS
adds other items which reasonable enough. making
the yearly charge more than S3Oo00oo1 But this Is
barnly worth while Tor there Is not the slightest
reason to suppose that canal earn Que ha
Of that
The proposed rate OF toll - per ton, IS more than The
average rato charged for grain across the Atlantic tor
the past three years 1t Is just the rate at which rail-
roads have transported grain By the million tons
distance Of 800 miles ny rail this year. and l. there
were 10000 tons Of ist between the Atlantic an!
= cerfli
Pacific wonl transport the whole % II bctTeen Los
Ance ca ana Galveston for about The proposed toll on
fortv-siv mile, " tie route Admiral Ammen and tn
United states Bureau of - tstcs estimate the entire
freight between the Atlantic aud the Pacific a not more
than g75tJ tons. Other scientific men have estimated
that it may reach 2.UO000O or even 3oo0ooO, bat d.
LesScps will need Gar more than Tie G.0O1o0O tons
which he claims It's waste OF time to compute how
Great the deficiency will he when a deficits go certain
that it f., already doubtful whether another loan can be
effected !or the enterprise
Ii ought to be impossible to eject another loan I'll"
Panama route never She best There never hns been
evidence that practice bic. The consent Of iAr
United states not been obtained II TINS undertaking.
and will not be OF tanned 10 the construction 81 work l
forairn cartl 10 secure shorter route between 90"
Atlantic and the Pacific ports Of this nation than Ulif"i
-;tes naval vessel, possess II is not ncedtul here
10 recapuate what has been 50 i0rcioiy sail 10y Mr.
nl,ius and other statesmen. regarding national rights
and Interests. Bat il would lie act OF fairness an! Of
kndycs, 10 Tue French people If the President woda
nut an end TO Misrepresentation ri d. Lcrsc 10y
plainly stating in his annual .,a-c tho position and
uuruoses OF the United states Certain 1t is that i the
real opinion of this country Known not one dollar
more would ever nc put into the Panama mdcrtahns ~
any sane capa list OF France OF any Otnc nation.
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