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

The Panama route would be 134.6
miles shorter than the Nicaragua
route from sea to sea, with fewer
ocks and less curvature, both in de-
yrees and miles.
The estimated time for a deep.
lraught vessel to pass through the nj. |
canal was placed at thirty |
three hours. as against twelve hours |
Tor Panama. these estimates being the !
time of actual navigation and not in.
delays for winds, currents or
darkness. If the passage were made
without interruption about a day could
be saved by the Nicaragua over the
Panama route by ordinary steamers
handling commerce between our Pa.
cific ports and Atlantic ports. and
about two days by steamers of the
same class trading between our Gulf
ports and North Pacific ports. The
time advantage of the Nicaragua route
would be less in the case of the fast,
high powered steamers, the use oil
which Is increasing. Between Allan
tic ports and the west coast OF South
America the Panama route has the
advantage of about two days, and be-
tween Gulf ports and the west coast
of South America the Panama route
has the advantage Of about one day.
The trade of the western coast OF
South America is a very important
one. which has hitherto veen in Euro
pean hands.
The Panama route Is an old high.
way of commerce. along which no con-
siderable industrial development Is
likely to occur. During the construc'
ton of a canal on the Nicaragua route
business relations Will Ne established
with Costa RIGA and Nicaragua which
would likely continue. Coasting con.
dtions indicate hygienic advantages
at Nicaragua. although equally effect
i've sanitary measures must be taken
in both cases.
Cost Of Canals.
The offer received from the Panama
Canal Company to convey all its prop
erty. including its interest in the Pan
anna Railroad. to the United States
will make the estimated cost Of the
two canals as follows:
Nicaragua. slS9SGi,O62; Panama,
$lS4.233.35S.
The transfer would give title to all
the land now held by both the Panama
Canal Company and the Panama Rail
rad Company. which includes nearly
all the land needed for the construc
ton of the canal. The land held by
private parties at Nicaragua must be
acquired, and its acquisition may
prove expensive.
Panama Route Title.
| tt.hnfhnr tho pan
anna Canal Company can make to
purchaser a valid title to the propert!
formerly belonging to the old com
pany, its predecessor has been consid
cred and answered in former reports
OF the Commission. but IN view of III
importance In connection with thu
present. tie results of the investiga
lions made will be again presented
The new company, in addition to III
canal property acquired under a con
cesslon from the Colombian Govern
ment. owns nearly all of the shares
OF the Panama Railroad Company. b!
purchasing these II obtained control q
the concessions under which the rOa'
had been built. The latter concession
will remain in force until 1866; tn,
canal concession Is to run for ninety
nine years from tue day on which tn
canal shall be opened to public service
and the date for this in the concet
sion. according to its latest extension
Is October 81, 1910.
Passes to Colombia.
When these periods expire the dill
feYent properties are to belong absc
lutely to Colombia, without Compensa
ton, and the Government rs under n
obligation to extend either concession
The canal company Is absolutel
prohibited 10 cede or mortgage 1t
rights under any consideration what
, ever to any nation or .oreIgn govern
. ment, under penalty OF forfeiture. TIL
. contract with the railroad compan
contains a like prohibition, and dc
, clares further that the pain OF forfeit
, ure will be incurred by the mere &C
, OF attempting to cede or transfer II
privilege to a foreign government, an
such an act is declared absolutely nu
and of no value or effect.
But for the purpose of permittin
the new Panama Canal Company I
. enter upon the negotiations whiC
J have resulted In the present offer. CO
, lombia has waived these prohibitions
: and has authorized the company t
. treat directly with the United State
! with a view to the use and ocCupatio
) OF the territory of the former for CT
nal purposes II our Government shout
. select the Panama route for an isti
2 milan canal.
, After the old company failed
3 liQuldator was appointed by tn
} French court to take charge of II
) property and AFFAIRS. When the ne'
b. company was formed he was autho
. lied to contribute to 1t the rights, priv
D.. ileges. plans. documents, plant and III
finished work in his hands and unde
his control. and in consideration {
this grant he was to receive go pc
cent OF the net profits OF the ente
+ prise after deducting all expenses an
. charges stipulated dividends to b
t distributed by him among the partie
. in interest.
Authority for Transfer.
The interest OF the old company
! still under the protection of the liqu
) dator and he must be party to an
, arrangement that may be entered int
5 for a sale and conveyance of tn
property, and as he derives his al
} thoTity from the tribunal that appoin
} ed him, his action requires the approx
al and confirmation of the court. TIL
(. ~. II. IL.