The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1891-06-03
BUSINESS PROSPECTS OF THE NICARA-
qua CANAL.

Ullu Cuc SuCCo5S VI tuc CucZ Ndudi 40 |
a guide and the failure of the Panama
attempt as warning, the projectors,
engineers and fnanciers of the Nicara-
qua canal are tolerably certain OF max
ing complete success.
An article in Bradstreets under the
heading Prospective Traffic for the
Nicaragua Canal" gives the estimates
formed by M. Levasseur, Mem. Inst.
Nat, for the expected traffic OF the |
Panama Canal, and those of Mr.. Thos. !
3. Atkins, Secretary and Treasurer OF
the Maritime Canal Company OF Mica
ragua," from which we quote the follow
ing figures, which may be compared
with the traffic, earnings and expenses
of the Suez Canal for number of years
past.
The estimate OF Mons. Levasseur was
$3.50, 900 tons for 1879, which would be
calculated to have risen to 7,250, 900 by
1888, at which time the canal was ex-
pected to be finished.
Mr.. Atkins divides the traffic to be
counted on into three classes, viz: %
entirely tributary; (2) largely tributary;
and 81 partially tributary. In class l
he places 1885,, AIS tons, in class 2, 9, 269,-
662 tons, in class 8, 4, 1874, ITO tons, max
ing q total OF 1877 ,247 tons, all OF
which is to a great or less degree with
in the zone of attraction of the proposed
canal"
In estimating the amounts which, it
may be expected, will pass through the
canal, he takes the whole of Glass L,
which consists of the existing commerce
Of Europe and the Atlantic states, with
the Pacific coast OF the American con-
tinent north of Callao, and of the At
lantic ports with the East Indies, Pacific
islands, Japan, China and Australasia,
one-fourth of class 2, and one-sixteenth
of class 3, representing total of 8.l22,-
093 tons, which is an approximate esti-
mate of the tonnage which the canal
might expect to control if it were open
for traffic to-day.
For the future, estimating from the
development of the commerce of the
four great commercial nations between
1879 and 1888, the increase of trade which
would use the canal will amount to 10
per cent between 1889 and '97, 80 that
there will be near ten millions of tons,
which may be considered as traffic be-
longing to the canal, and to be drawn
by it from the total of commerce within
the zone of its attraction in 1897"
Mr.. Atkins does not publish any de-
tails as to time required in passing
through the canal or the rates to be
charged, but we can see what has been
done in these directions, and how the
facilities have been increased and the
tolls lowered as experience was gathered
in the case of the Suez Canal.
The Suez Canal, about ninety miles in
length, was begun in 1858, a small vesse
passed through in 1867. and the forma
opening took place in 80. In the thirt
year the tonnage passed through
amounted to ,439 900 tons in 1888 thi
had risen to 6,640,S tons, yieldin
$13,020,4 400. In the same year, the US
of the electric light enabled ships to pas
through in 20 hours instead of as before
80 to 40 hours. The expenses for tn
year were on 11.5 per cent. of the re
ceipts. In 1889 the tonnage was 6,783
1874, and the dues reached $13 ,287 ,461, {
which the P. and o. Company alon
paid 4240 GOO, and vessels drawing 25 f
7 in. were allowed to pass. The reserv
fund has exceeded the obligatory amour
ever since 1888, the profit for the yea
was $7,4OO,0OO. Deepening and wider
ing was still going on.
The Nicaragua Canal has several &C
vantages for carrying an immense trait
over that at Suez. The former will b
in 1897 broader and deeper than the la
ter is at present, and the vast area of th
lake will enable ships to pass in opposit
directions with greater facility than tn
cares " or sidings, which can at pre-.
ent only pass six large ships at the sam
time. The one disadvantage of tn
Nicaragua Canal is the lockage, fror
which the Suez is free, but this no dout
will be brought to minimum by exper
ence and ingenuity.