The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-01-21
Supplemental Report Of 18TH
mian Canal Commission
Showing Advantages of the
Panama Route.
WOULD BE SHORTER.
Would Cost Less to Build and
Maintain.
The COmpany's Assets Are Set
Forth in Detail.

Washington, D. c., Jan. 21-The
senate has ordered the supple
mental report of the isthmian canal
CON mission printed in the Congress
sional Record and also as a 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 January
9. includes the following classes of
property:
"First-Lands not built on.
There are fifty-six parcels of land to
which the title rests in the canal COM
pany, amounting to about 10000 acres,
which, with the lands belonging to the
railroad company, cover nearly all OF
the ground required for, the actual con-
struction of the canal
Second-Buildings
There are scheduled 2.431 buildings,
divided among forty-seven sub-classi-
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 hospitals at
Colon and Panama, and several i'm
portant buildings at Colon. These
buildings are furnished.
"Third-Plant.
There is an immense amount of ma
chinery consisting of floating plant
Gugs), launches, dredges, etc.
.Fourth-Work done.
THE excavation already accomp-
lshed upon the main canal, which will
be of value in the plan recommended
by the commission, was carefully COM
puted and was found to be SO ,6S9, 965
cubic yards. A temporary diversion of
the Panama railroad has been made at
the Culebra cut, which also must be
considered.
'sUsing the same classification for ma
terialS and the same unit prices as in
the other estimates. with the 20 RI
cent added for contingencies, the value
of the work done is found to be:
Canal excavation, $21, ,020, $50; Chagres
diversion, $17s1S6; Gatun diversion. 81
396.456; railroad diversion (four miles,,
S500sO00; total, $22, ,895.2s; contingencies,
474,653 20
"Fifth-Panama railroad.
"Of the existing 10000 shares. the
Panama Railroad company will trans
fer to the United States all but about
1.100 shares. These latter are held by a
few individuals residing in various
parts of the United States and in Eur
ope. At par, the value of the 6S,s63
shares to be transferred to the United
States by the canal company is Sc, $780,
300. Against this property are mort
gage bonds to the amount of 50, ,439. 900.
OF this amount the company owns SSH
600, which it has pledged as collateral
for it's debts to the Panama Canal com
pany, described below, and it also holds
in its treasury $1.064,OO0 subject to sale
or cancellation, leaving outstanding In
the hands of the public 81, ,504, 600. The
bonds bear Az per cent interest. There
are outstanding also $996,0O0 per cent
sinking funds subsidy bonds, but this
liability is an amortization of the an
nual payment of $225,0Oo due to the Col
ombian government under its conces-
sion for the period ending November
1, 1901 The railroad company owes
1885, 918 to the Panama Canal company,
mainly on account of the construction
of the pier at LaBoca. Its total liabili-
ties, therefore, are $2,4 2,490,918, not count
ing the sinking fund subsidy bonds, for
which the Colombian government has
received the benefit and for which il
should make allowance to the United
States in the negotiations for treaty
rights.
Its cash assets, January Is, 1902, were
$43S $50. 1t owns three passenger and
freight steamers of American registry
of approximately 1000 tons each. For
the past year it has operated line of
chartered steamers of American regis
try between San Francisco and Pan
anna. These steamers on the Atlantic