The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-22
THE BIG PANAMA TRENCH.
Progress Being Made on the Ship
Canal Project.
gton Letter in Boston Herald.


Capt. Nathan Appleton, of Boston, during
his visit here this week in the interest of
the Panama canal. has been frequently
asked as to the present condition of that
enterprise, and has referred inquirers to
an address made by Gerardo Lewis, of
Panama, delegate to the recent Pan
american convention at the Philadelphia
Commercial Museums, in which he said:
The work of the Panama canal is being
carried OH at the present time by the new
Panama Canal Company, organized in Oc-
tober 1894. The company has a capital of
69OlO,OOO francs, divided into $4,000 shares of
IL francs eacn. of which $4,000. free of all
charges, representing the sum of 5000 600
francs have been given over to the Colom-
bian government in conformity to the leg
lslative acts OF Incorporation.
The capital of 65 900, 900 francs at the
present time is three-Quarters paid in, and
has been made up by the subscriptions
from organizers of the old company AMI
from certain individuals condemned 20
make restitution, public subscriptions and
subscriptions under the liquidation of the
old company.
The whole capital of 65. 900 OOOf bears no
interest. 1t must be entirely devoted, first
to the administrative expenses of the COM
pany; second, to the carrying on of work
on the canal, and third, in payment to the
liquidation of sum of 10000 000f for the
acquisition of the Panama Railroad in case
the completion of the canal shall be found
impossible
LAS soon as half the capital, say go 500, OOOf.
shall have been expended, a commission of
engineers chosen half by the new company
and half by the liquidation, will be sent to
the spot to examine the work which has
been done and decide whether or not il
will be worth while to attempt the compile
ton of the canal.
The new company has, therefore. really
one object which is to make decisive
experiment on which will depend the fate
of the whole enterprise, at least so far as
it concerns tie future participation of
French capital.
The liquidation has made free transfer
to the new company, first, of the con-
cession with all rights and duties entail
ing thereon; second, work already done of
installation, of material and of all the
fixed property in the isthmus; and third, of
$500 shares of the Panama Railroad.
These transfers have been made in con-
sderation that the new company shall
share, half and half, with the creditors of
the old company, the net profits of the en-
terpriSe, after payment of per cent. inter
est on the capital, necessary for the COM
pletion.
yember 1894, on chosen locations where the
demonstration of the possibility of COM
plotting the canal was the most useful to
make. That is to say, on the summit of
tween the two oceans. The depth of exca-
walton necessary for the passage of the
pOint--about sixty or eighty meters ac-
cording to the adopted plan.
The excavation has been carried on from
the summit of the Cordilera four or five
kilometres on the Atlantic slope and a short
distance on the Pacific coast so that to-
day the central ridge is ATTACKED for about
six kiometers in length. Four great me-
chanical excavators twenty locomotives.
from 500 to 600 cars, and a large additional
equipment are in use there.
AT different points there have been placed
transporting cables on an American system
which has already worked very successfully
in the Chicago canal. This apparatus has
demonstrated it's superiority also in the
work at Panama, in spite of serious mis-
takes in setting up, which, however 1t
would be easy to correct. These cables of
the LidgerWoOd system are called to do the
most important work in the deepening of
the trench. and it is the intention of the
company to employ more extensively than
at present machines of American construc-
ton. whose simple and practical operation
is well known
1.-THE amount of excavation since work
was resumed amounts to 135000O cubic
meters. or 900 cubic yards, and the aV-
erage depth is about fifteen meters with
provisional width of fifteen meters at the
bottom of the trench.
The company has begun in addition to
this the cons -rUCtIon OF CcCp-Water hai
Dor al La Buca, at the Pacific end Of the
canal A great metallic pier, which is be.
ing bullt, VIII allow the GI ect transfer of
goods from the ship to the car thus doing
caused bv the present mole CT transs-ip-
ment by lighters. The traffic on the Pand-
ma Railroad will profit by these new inn
provements, witch will d veIop its lmpor-
opened.
Increased traffic will lead to increased
profits, and this important source of rev.
enue may be able u guarantee the interest
on future loans Cort1acCe1 for the comDle-
ton of the "anal. In this way the growing
prosperity of the Panama Railroad will as
sure the completion of the ship canal
All this work, both at Calebra and at
La Buca. allow al estimate To be made
of the con litirr,; ii success under o,rdl-
nary circumstances, without the extraordi-
nary oVerchar,5H difficulties ana troubles
which were he causes Of tna failure Of the
old cOmDanV."