National Republican. (Washington City (D.C.)) 1872-1888, 1886-02-02
NrrnocEAN1c coltMERcr.
Eads's Ship Railway and His Mexican
Concession.

-tAANNHFAtAH
Mr.. Eads was granted concession by
the Mexican congress on April %, 1881, to
construct a ship railway or canal across the
isthmus Of Tehuantepoc The construction
Of the proposed highway would necessitate
crossing the states of Vera Cruz and OoIaca.
A question would arise with capitalists be-
fore investing in this scheme Whether
these states have authorized the Mexican
congress TO grant right of way across their
territory to private corporation OF foreign
ers, or whether they have joined with the
Mexican congress in granting Mr.. Eads this
valuable concession.
As a business proposition, would IL not
be well for Mr.. Eads TO include a copy OF his
grant In one OF the many pamphlets he Is
distributing for the information OF capital
lists aud melubers Of Congress- This would
give all the "bed rockn Information to those
who desire to aid this important enterprise.
This done, would n not be well to publish
In the same connection the detail estimates
Of cost Of the construction of the marine
docks, turn tables, railroad, and equip
ment, as the bill now before Congress
Is not as explicit as the friends Of the
enterprise would have it2 For instance,
the bill provides (pagel): "And II said com
pany shall, in the presence Of said board,
transport loaded vessel weighing, with her
load, not less than 5000 tons the
guarantee of tho United States as herein
before provided for shall at once attach.m
II has been suggested that, inasmuch rs
Mr.. Eads has insinuated that his canal and
ship railway would have capacity TO dock
and transport vessel of 1900 tons meas
urement would II not be well to stipulate
the depth Of water which he viii guarantee
over Nt bar at the mouth of tho Coat
zncoalcos river and the draft of vessel he
will guarantee to transport from ocean TO
ocean2
1t is q well-known fact that vessels
drawing over twelve feet cannot enter the
CoGtzaeoalcos river. At the same time there
are very many vessels which, with their
load weighing 5000 tons, will not draw
twelve feet of water
Mr. Eads gives large amount Of infor-
nation which is very convincing and i'm
portant. His statement Of the estimated
cost Of operating the ship railway, on page
| 90 Of his pamphlet, entitled "The Atlantic
and Pacific Ship Railway" is a conclusive
| argument that the Investment will pay a
large dividend upon the capital. But Mr..
| Eads must have erred in his calculations
| upon the cost Of docking vessels. lie says
| 1.-THE cost at the terminals will be $3.50 per
| day, $35 per ship % cents per ton These
| figures will surprise vessel owners, who
have heretofore paid 2j cents per ton for
docking their ships at most any OF the
marine docks or marine railways through
| out the country.
Mr.. Eads bases his estimate upon the sup
| position that he will handle ten vessels each
| day for 365 days. win not the expense be
| the same (less the fuel consumed) IL he han.
dies one vessel per day. The employees must
be ''on watch" day and night; they must be
paid, whether a vessel is to be docked oil
not. Mr.. Eads may adopt the business regu.
lations Of the hotel Keeper on the "Old
Santa Fe road" who had but one guest dur.
ing the year and charged him for a nights
lodging the total expense OF the hotel fol
the year.
As railways have beon constructed by
"Credit Mobiliersn aud "construction com
panies" in this country the past few years al
II large profit to the parties giving out thC
contract and to the detriment of the stock
and bondholders Of the railway company
will, in another communication, undertake
TO show that Mr.. Eads has over-estimatet
the cost of the construction of his ship rail
way. And rs he has entered into this worl
as "labor OF love,n he would not expect
his friends or this government to contribute
more than fair compensation for his gen
ius, energy, and indomitable will.
Congress has had some experience in sub
sidlzing railway companies, consequently
will require bottom facts before they vii
vote away the peoples moneys.
The American people are anxious for the
construction OF the "ship railway" but
they expect their representatives to protect
their interest by contributing no more thar
the actual cost Of the same with fair profit:
to the constructors.
The magnanimous' proposition Of ou
sister republic, Mexico, should stimulet,
Inv investiGsG GsGyiieGntatives ieGnt to fair and extensive
! iHNCetiSatlOn VI ti'- subprt Mt the samt
time appropriate sunicient 80 ~ ~ so,,.'
every emergency, as our young sister has
been somewhat financially embarrassed fo
many years, and may not find IL convenient
to meet her Obligation of SIS, T50, 900 wher
due, thereby stopping the completion Of th,
international Ship Railway. COMMERCE..