New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-11-07
TIE PANAMA CANAL ONCE MORE.
A NEW FRENCH CORPORATION ORGANIZED TO
COMPLETE THE WORK.
From The Engineering News.

From The Engineering News
AS As some q our readers , nay recall. after The
canal came TO a standstill. the companys ahairs
Incubator" or receiver. as We should say. who
remained IN charge until 1874 when the conces,
transferred 10 the new company According 10
information from official sources this rev COM
pany was organized by leading bankers and man
ciers OF France who had no connection whatever
with the old company. and by them working
capital of H30DcO was subscribed. In taking
over the old company 10 cash was PAID for It's
assets but the holders Of stock in the old company
Any profits OF the new company from the working
Of the ans sh1sd there BE sh by a se
new company have been provided for.
devoted Itself almost entirely to the task Of in
vesugatng the engineering problems al Panama
best solution Of these problems De Lesseps's prop
osiqn for TaeHS canal Wf b aGa aoneq bs
old company: but the details Of a new location. the
height Of It's levels he ut OF lis locks and more
the Chagres River and Of the sliding Of the grea;
and settled by the engineers Of the new company;
The detailed ! ans mus prepared were sunmluea
first 10 board Of French consulting engineers,
which included representatives, of the receiver OF
the old company. After this board had further
an international engineering commission was ap
pointed which again went over the eniire proJect'
and examinng The engineerng probems 81. involved.
Where respecting the work OF this Commission and
cONClNSlOlS
this paper. a satisfactory plan has been developed
for the control of the Chagres. and the water sup
plv OF the summit level Additional work at the
Culebra has shown that the sliding Of its Sides
can be successfully controlled. The work actually
done by the old company is estimated 70 have been
equivalent 10 an expenditure Of about sl270'lo1O.
and the Of the work remaining 10 be done 20
complete the canal ready for traffic IS set at 900
ooo 900 The time required TO complete the canal Is
done on the great Cuebra cut. and IS set AT ten
years The interest charges on the company Sc
curities during the period are apparently not IN
cluded In the above 500 10000 and VIII increase
the actual Of the canal by One-fourth or more
General Abhot's paper makes little or no alusion
10 the financial status prospects or plans or the
new company. which Is the question or greatest
practical interest Just now and the company
representatives in This country are not authorized
TO make any statement 10 rs future policy, ex-
cept TO say that governmental aid Will be asked
from any source.
From all the Information that We can CLEAN.
however We believe that q few months hence,
when the complete report OF the International En-
efneering Commission Is made public an enort
Will be made raise funds for the completion
OF the work: and II seems quite probable that the
project will be placed in SO favorable a light be-
fore European fnaRcers that the require amount
may be obtained.
This report OF the Engineering Commission, we
are Informed. will probably be ready for pub!ica-
ton before the Close OF the year and Will be a =
companied by reports prepared by eminent french
s.atisticans (amOng them VI. Leroy -Beauheu)
upon the probable traffic and earning power OF the
canal THIS IS matter which has been hereto,
fore lightly passed over. both by De lesseps ana
the Nicaragua Canal promoters and the results or
a careful statistical investigation VIII be awaited
vii