Telegram-herald., 1890-02-03

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<alE Plss~-d -s-.i4's Szasaas sss-eA-.-
MEs.I w. r. tie eEiy sllp r--i ''s 50 -
Eorth Ausctlca 3 rap54y apProachtns
co. .assgsan It 1s lea1zas1 % st@fss
Kess-ls orcs TIE ls-h1u-.s - eas sheo1e.
Laf-9N sH1p Il l4Es4 whash @~@ls lie
provlnoe of Move Scl<ls aaa Ne" hfafAs
wlcz Gas. ACC II eteusesE n1als-
he Lrs2 proyoct Nas lAe tA~-t efts
caZzi scheme, - Wh.c1 li {" as PROPOSES
to naaae . CIT begW ern tie g1I - ~.
Lawrence su1 tle usy q Funds through
a.. ,ssauuus and 80 avoad ghe iaag de-
tar round C@pe Lgetou sa4o Nos4 ace,slA
mlicA al AlericaI fishing scnooilefs
ani vessess trading between Prince I'd
ward Islan8 aul the gulf ports on tie
one siae and 50 John Portland Boston
and New YORK % the other were obliged
10 make.
The immense expense of this under
taking rendered u impractlcable. and
other means q transport across the neck
of land between tie ga1 of n. Lawrence
and the bay of Fundy had 70 be sought
The Chignccto Marine Transport railway
aims Il solution of tbs problem and It
has reached a stage II progress which
insures its completion. The roadbed Is
ballasted and ready for track laying. and
the docks AZ either end are IN progress
Of construction. The steel for the track
Is the heaviest ever made and weighs 10
pounds 10 the yard. There viii be a
double track, upon which the cradle con-
tanning the vessel under transport VIII
be placed The locomotives, TWO OF
which viii be used in dra wing the vessel
across the isthmus, are built on the same
principle as ordinary engines. but Of
much greater weight and power.
The vessels 70 be transported viii be
hoisted by hydr auhc power from the
basin 70 the track. and II Is estimated
THAI with this power and the roadbed in
good condition a ship of ordinary capsc-
ity will be taken from the bay Of Fundy
and placed in the gulf Of 81. Lawrence
IN two and half hours. though a speed
Of ten miles an hour is obtainable.
During the coming year the Chignecto
Marine Transport railway should be in
active operation, and saving on each
trip will be effected of 500 miles II
would, however, be more prudent 10 say
that the company will be ready 10 handle
whatever business offers, because il is a
matter of pure speculation as 10 the earn
ings Of the enterprise.
The tariff for lifting and hauling yes
sells over the railway will be fifty cents
per ton for cargo and twenty-five cents
per ton for hull, so that a vessel Of 900
tons would paw $3.50 for transportation.
The permanent success of the scheme is
looked upon as highly problema,ic. for
the class Of schooners engaged in this
trade at present are totally unable 10
bear any such charges. and the prospects
of traffic in ships between Lake On
tario, ST. John and Boston, which some
people have alleged would accrue, are
altogether too visionary to warrant such
an expenditure.
The promoters, however, viii not be
the losers In Canada the advocates Of
such schemes form an important part Of
the industrial community, and it has
come to be one Of the most important
with British capital, secured by the
promise Of Dominion subsidies. The
country is full of such enterprises. Ia
the province Of New Brunswick alone
there are three railways which have
been thrown aside when the promoters
had sucked the profits dry. This marine
railway company obtained Incorporation
-, q.
year was granted a subsidy of $3.50, 600
Tor twenty-five years in aid Of the work.
and the proposal Of so liberal q subven-
tion was scarcely challenged in parlia-
ment, being voted under the impression
that il would never be demanded.
Nothing was done until 1885, when an
order in council was passed authorizing
entry into agreement with the company,
subject 10 the approval Of parliament,
and such approval was obtained in
March, 1856.
Under its terms the subsidy was 10 be
Sl70, 000 year for twenty wears. or such
portion of ii as would bring the net
earnings up TO per cent. on the
authorized share and bond capital Of the
company Should the earnings exceed
per cent, one-hslf Of such surplus
is TO be paid the government until repay
ment Of the subsidy is made. Surely
this was tempting enough 10 any capi-
talist - per cent. guaranteed upon
an Osteusible capital Of s.. 800 900.
though UP TO this date no one has been
ablo to learn the exact or even probable
cost Of tine undertaking. Halifax Cor.
New Tor- Times