The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-21
REPORT ON
BIG CANAL
PRESIDENT ROOSEVELT TRANS
MITS THE INTERESTING DOCU-
MENT TO CONGRESS
Is FLATFooTED FOR PANAMA
Assets and Liabilities of the COM
pany Offering to Sell Are Set
Forth in Detail by 18TH
milan Commission.
OVER HUNDRED MILES SAVED

WASHINGTON, Jan. 20-The presi-
dent today sent to congress with sim
pie message Of transmittal the supple
mental report of the isthmian canal COM
mission, in which it is unanimously rec
commended that the offer of the new Pan
anna Canal company to sell all of its
rights, property and unfinished work TO
the United States for $40,0000GO, be ac-
cepted. The senate ordered the report
printed in the Congressional 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 Jan. g. m
cludes the following classes of property:
First-Lands Not Built On-There are
fifty parcels of land to which the title
rests in the canal company, amounting to
about $4,000 acres, which. with the lands
belonging to the railroad company, cover
nearly all of the ground required for
the actual construction of the canal.
Two Thousand Buildings.
Second-Bu -Buildings-There are scheduled
2,331 buildings, divided among forty-seV9n
subclasSiications used for offices. quarters.
stoTehouses, hM pitfalls, shops, stables ana
miscellaneous purposes. Among them are
two large permanent buildings in Pana-
ma, one used as the headquarters resi-
dence and the other as the general Of
ice; large general hospitals at Colon md
Panama, and several important buildings
at Colon. These buildings are furnished
Third-Plant-There is an immense
amount of machinery. consisting of 1oat-
ing plant tugs, launches, dredges, etc..
Fourth-WoTk Done-The excavation al
ready accomplished upon the main canal
line, which will be of value in the plan
N7cl hvr + 1r
carefully computed and was found to be
sc, $685. S65 cubic yards. The value Of the
work done is found to be: Canal exca-
vation, $21 ,020, 1856; Chagres diversion. S17S,-
diversion -four miles,, $300,000; total $22
1896 OBS; contingencies, 20 per cent, $4,579,-
005; aggregate, $27, ,414,CS5.
Shares and Bonds.
Fifth-Panama Railroad-Of the existing
! 10000 shares Of the Panama railroad the
canal company will transfer to the Unit
ed States all but about ], 100 shares These
| latter are neld by few individuals resd-
| ing in various parts of the United Staces
and Europe. At par the value OF the 6S.G6}
shares to be transferred to the United
States by the canal company, is Sc, $50, so
Against the property are mortgage
| bonds to the amount of Sc, ,439 900. OF this
amount the company owns $871. 900 Whieh
it has pledged as collateral for its depts
to the Panama Canal company ana it
also holds in its treasury $l.064, 600, SUP
JecL TO sale or cancellation. leaving out
standing in the hands Of the public 81 504.-
900. The bonds bear AZ per cent interest.
The railroad company owes $685. tc
the Panama Canal company mainly on
account of the construction of the pier
at La Boca.
Liabilities and Assets
It's total liabilities, therefore, are 81. 400
91S, not counting the sinking fund subsi-
dy bonds. $996, 600, for which the Colom-
| bian government has received the bene-
fit, and for which it should make al
lowance to the United States in the nego-
tiations for treaty rights It's cash as
sets Jan. Is, 1902, were Sass, ,569
1t owns three passenger and freight
steamers of American registry, and for
the past year it has operated line of
chartered steamers of American registry
! between San Francisco and Panama
The railway company owns an undivii-
ed half interest in the islands of Naos..
Culebra, Perico and Flamenco in the bay
of Panama, the Pacific Mail Steamship
company being the joint owner Besides
its right of way, terminals. wharves and
considerable areas of land it owns nearly
the whole of the town of Colon
The railroad company has no operating
contracts which cannot be terminated in
ninety days.
Sixth-Maps, Drawings and Records