Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1898-12-30

The results there SHOWN are more Helplul
than mere estimates; they are ascertalned
facts. That company deals with the
worlds commerce, just as will be done In
Nicaragua In 1895 it's business amount
ed to S,440000 tons. 1t had then been in
operation twenty-five years. The first
year, 1870 its business was only 43600O
tons; in 1871, 100000 tons; in 1872, 1,1OO,-
600 tons, and there has been a fairly
steady increase ever since, up to the
amount in 1895. During all this time the
volume of the worlds commerce has stead
lily increased. Not only has trade more
and more adjusted itself to the Suez route,
but also the aggregate amount of trade
has become much larger. Some allowance
should be made for the advantages pos
sessed by the Suez canal as a now we'll
established route. Taking it's business
eight years ago may be fair Offset for
this item. The amount for 1888 exceeded
| 6,000,000 tons. The earlier SueZ tolls were
$2.77 per ton, which have been gradual
| ly reduced the past twenty years, and
traffic is not prepared now to stand heavy
charges in any direction. A moderate
tariff will be in every way desirable. A
favorable, but approximate, estimate OF
the possible revenues in Nicaragua would
be as follows: With tolls at 30 per ton
at the outset, and business of at least
100000 tons after the canal is fairly in
operation q gross income of $9,O000OO
would be obtained. Administration, main
tenance and operation for 1895 cost the
Suez canal about $1,S00,000. Taking into
account all the dam and ernbanlment
work at Nicaragua, as well as the heavy
rainfall, an allowance Of So 100000 as an
annual average for expenses may be fair,
leaving a net income of $G,0OO,00O. An
undertaking Of this character is to be
gone into only as long-term investment,
and the earnings for the first few years
after it is completed are not to be consid-
cred as sufficient for final Judgment. The
greatest earnings will come later on.
"The canal route, as at present project
ed, is to be 174 miles long from Brito on
the Pacific to Greytown on the Atlantic.
The first half mile from Brito is at sea
level. Then in two miles the canal rises
10 feet, through three locks to the sum-
NIT level 151 miles long, then in Az niles
it descends, through three locks, to, sea
level again, and then continues at sea-
level 9H miles to Greytown. The esti-
mated time required for an ordinary
steamer to cross from one ocean to the
other is twenty-eight hours. Electric
lighting is to make passage by nig5t quite
feasible. The allowance for passing,
through locks is forty-fve minutes for
each lock. Only twenty-six miles of the
16S miles of canal is to be through excava--
tions. Some twenty-one miles is through
basins, and 121 miles through the lake
and the river. Provision should be made
from the first for increasing the accommo-
dation when it shall become necessary.
Widening can be carried on at the same
time that vessels are passing. So can.
deepening. To increase the size of the.
locks, however, will cause all traffic to be
suspended. The locks in the present plans
appear to be too small for permanent use.
They are each to be $50 feet long, 20 feet
wide, and % feet deep"
History of the Canal Scheme.
In December, 1881, Senator Miller of
California introduced a bill in Congress
to incorporate The Marine Canal Com
pany of Nicaragua" with the purpose of
constructing the canal. Gen. U. S. Grant.
Howard Potter, E. d. Morgan. II. J. Jew
ett and other prominent capitalists were
concerned in the proposed enterprise. The
bill met with bitter opposition in Congress,
and was utterly defeated by the failure
of the Marine Bank of New York. in.
which the Grants were ruined financially.
The Nicaragua Canal Company was in
corpOrated in 1887, with former Senator
Warner Miller as president, and for a
time made good progress. Its success i'm
; duced opposition, and in 1889 the Mari
time Canal Company Of Nicaragua, which
| pnnniunl hn NIT npI I
land, was Incorporated. Hiram Hitch
cock was the first president, but he was
subsequently succeeded by Thomas B.
Atkins The work of digging the canal
was begun and continued until financial
misfortune overlook the enterprise, the
construction company failing in the terri
BILE panic of 1893. The contract for the
construction was then awarded to Warner
Miller Nicaragua Company, which still
holds its concession. Many attempts have
since been made to secure the aid of the
Government, but the bills have failed to
pass both houses. Congress, however, au-
thorized the appointment of a technical
commission Of civil engineers to re-exam-
Inc the canal line, and it is the report of
this commission which will be presented
to Congress in December.
The principal authorities on transporta-
ton statistics have made estimates that
the Nicaragua route should divert from
100000 to 100000 tons of low-roto
freight, such as flour, dry goods, machin-
cry, coal, etc, from the overland traffic
Suppose 2,500,000 tons were diverted to
steamship lines from the Atlantic and gulf
ports, going by the canal route With tho
usual ocean tonnage from New York n
the Pacific, and other vessels which would
go through the canal, conservative cal.
culation places the annual freight at
1Ooo'OOO tons. AT the lowest Suez cana
G rate this would give an annual revennn oi