The daily morning journal and courier., 1902-01-21
FOR PANAMA ROUTE. Unanimous Supplemental Report of Isthmian Canal
 Commission.
NOW IN HANDS OF SENATE
SUBMLTTED BY THE PRESID ENf WITHOUT RECOMMENDATIO

succinctiy Sets Forth the Advantage,
 aud Decreascd Cost Over tho Mica
 raguan Way-Information Regardin g
 the Lands Acquired, Buildings, Plant
 Work Done and the Panama Railroad d
 $40 100000 the Total Valuation ot
 the Property.
 Washington, Jan. 2O.-To-day the
 president sent to congress the supple
 mental report of the Isthmian canal
 commission, in which it is unanimously
 recommended that the offer of the new
 Panama Canal company to sell all of it's
 rights, property and unfinished work to
 the United States for $40,OO0,O0O be ac-
 cepted. The president accompanied it
 only with a note of transmittal. The
 senate ordered that the report be print
 ed in the Congressional Record and also
 in document form.
 After quoting the correspondence
 which passed between the commission
 and the officers of the Panama Canal
 
 totality without exception, of it's prop
 erty and rights on the isthmus' men
 toned in the cablegram of January 9, includes the following classes of prop erty:
 1-Lands not built on. There are fif- ty-six parcels of land, the title to which rests in the canal company, amounting to about 30,000 acres These parcels, with the lands belonging to the rail- road company, cover nearly all of the ground required for the actual construc- ton of the canal.
 2-Buildings. The number of build ings scheduled is 2,431, divided among forty-seven sub- classifications. They are used for offices quarters, store houses, hospitals, shops, stables and miscellaneous purposes. Among them are two large permanent buildings in Panama, one used as the headquarters residence and the other as the general office; large general hospitals at Colon and Panama, and several important buildings at Colon. These buildings are furnished
 amount of machinery consisting of fating plant (tugs, launches, dredges, etc).
 4-Work done The excavation already accomplished upon the main canal lines, which will be of value in the plan rec commended by the commission, was carefully computed and was found to aggregate 366S9,96 cubic yards. A temporary diversion of the Panama has been made at the Culebra cut, which also must be considered. By using the same classification of ma terials and the same unit prices as in the other estimates, with 20 per cent. added for contingencies, the value of the work which has been done is found { to be: Canal excavation, $21, ,020,3S6; | Chagres diversion, S17S1 1S6; Gatun di | $1,396456; railroad diversion ! -four miles), s3OO,0OO: total $22,S950 OPS, Contingencies, 20 per cent, $4,579,005; | aggregate, $27474,03S
 .5-Panama railroad. Of the existing -00 900 shares of the Panama railroad he canal company will transfer all but | lbout i, 100 shares to the United States. These latter are held by a few individ- lals residing in various parts of the United States and in Europe At par 'alue the 6S 863 shares to be transferred O the United States by the canal com ,any is S6,S86 300,
 Against this property are mortgaged ponds to the amount of $3 439 900. Of his amount the company owns SS71 900, which it has pledged as collateral for ts debt to the Panama Canal company, described below. It also holds S1,0S4000 n it's treasury, subject to sale or cancel ation, leaving S1,504,0o0 outsta nding in he hands of the public The bonds ear Az per cent. interest. There are outstanding also $996 000 Ter cent. sinking fund subsidy bonds ut this liability is an amort zat ton of he annual payment of S225000 due the colombian government under it's con ession for the period ending November
 1910
 The railroad company owes $9S6.91S to he Panama Canal company, mainly on ccount of the construction of the pier f t La Boca. S Its total liabilities therefore are s2,- f 20, 91S, not counting the sinking fund , ubsidy bonds. of which the Colombian 7 overnment has received the benefit ( nd for which it should make allow r nee 10 the UnlleQ states III the negO- e a ations for treaty rights. f Its cash assets January 15, 1902, were T I3S ,569
 It owns three passenger and freight eamers of American registry, of ap- | roximately 2000 tons net each. For ,e past year it has operated line of f lartered steamers Of American regis q y between San Francisco and Pana- h "a. These steamers on the Atlantic ld Pacific constitute the Panama rail- lad steamship line.
 The railroad company owns an undi- ded half interest in the islands of aos, Culebra, Perico and Flamenco in t e bay of Panama, the Pacific mail f company being the joint N vner. U Besides it's right of way, terminals, b harves and considerable areas of land ft owns nearly the whole of the town |
 Colon, the houses there being con- Ii ructed under leases. e' The railroad company has no operat- fl
 SContinued on Sixth Page.) u