Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-02-03

dent today sent to Congress with a
message, simply OF transmittal, the
report of the Tsthmian
Canal Commission. in which it is
recommended that the +,
offer of the New Panama Canal Com
pany TO sell all of its rights, property
and unfinished work TO the United
States for S4O.0OO,O00, be accepted.
The Senate ordered the report print
ed in the Congressional Record and
also as document.
After quoting the correspondence
which passed between the Commission
and the officers of the Panama Canal
Company. in Paris, the report says:
The totality, without exception Of its
property and rights on the isthmus
mentioned in the cablegram of Janu.
airy 9TH includes the following classes
of property:
I. Lands Not Built On.
There are fifty-six parcels Of land
to which the title rests in the canal
company. amounting to about 10000
acres, which, with the lands belonging
to the railroad company, cover nearly
all of the ground required for the &C.
tual construction Of the canal.
2. Buildings.
There are scheduled 2431 buildings.
divided among forty.seven sub.classi.
fications, fused for Offices, quarters.
storehouses. hospitals. shops, stables
and miscellaneous purposes. Among
them are two large permanent build
ings in Panama, one used as the head
quarters residence and the other as
the general Office; large general hos.
pitfalls at Colon and Panama and sever
al important buildings at Colon.
These buildings are furnished.
3. Plant.
There Is an immense amount Of ma.
chinery. consisting Of floating plant
| (tugs), launches. dredges, etc.
4. Work Done.
The excavation already accomplish
ed upon the main canal which will be
of value in the plan recommended by
the Commission. was carefully com
I puted and was found to be 3G,3S9,9 G5
cubic yards. A temporary diversion
OF the Panama Railroad mas been made
at the Culebra cut, which also must be
considered.
Using the same classification for
materials and the same unit prices as
in the other estimates. with the &c
per cent added for contingencies, the
value OF the work done is found to be.
Value of excavation. S2l 900, 6S6;
: Chagres diversion. Sl7S.1SG; Gatun dt
version. Sl.3i6.4a6: railroad diversion
-four miles,. $500. 900; total, S22S95
S2S; contingencies, 90 per cent, 81,
1905. Aggregate, s2I4T4,O53.
5. Panama Railroad.
OF the existing 10000 shares of tn,
e stock OF the Panama Railroad tht
company will transfer to the United
:, States all but about 100 shares
These latter are held by few indi
viduals residing In various parts o
the United States and Europe. At pa
the value of the GS.Su3 shares to bt
transferred to the United States by the
| canal company is SG,SSG,30O.
Against this property are mortgag,
bonds to the amount OF $3.i39,0 600. o
this amount the company owns SS7l
900, which it has pledged as collatera
: for its debts to the Panama Cana
Company named below, and 1t alsC
holds in its treasury Sl,0G4,O00 subjec
to sale or cancellation, leaving out
= standing IN the hands oil the puDll
: Sl,504'OOo. The bonds bear IL pc
) cent interest. Ihere are outstahdinl
, also SS96'ooo per cent sinking lun'
subsidy bonds but THIS IaDility Is al
amortization OF the annual paymeh
OF $22o'Ooo due TO the Colombian GOV
= ernmeht ana It's concession Tor IN
perlod ehdlhs November l. l9ul' In
railroad company owes SSSo'9ls 10 IN
|, Panama Canal Company mainly Of
account oil the construction OF the pie
at La Boca.
Hs totai liabilities. therefore, ar
= S2'49o'9is' not counting the slnkln
4 luhd SUBSIDY Dohds' LOT whlch the &c
= iomDiah Government mas received IN
. dement, ana lot Whlch II should max
: allowance 10 the united states In IN
heGotlations Tor treaty rights IL
, cash assets on January TO- lSoZ' wer
: $4Ss''o''
IL owns three passenger an
ireisnt steamers OF american resi'
k Try Oh approximately Zooo TONS eact
/ for thS past year II mas operated
: me OF chartered \S'samers OF Amer
can registry between san frahcisc
ana fahama' lhese steamers on IN
Hiah'ic anu racine constitute III
raIia'la 49, haiIIoau an Steamship IoIi
; panS' me ral'roau company OWES a