Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-01-14
Proposals Are Opened
Saturday at Washington.
Lowest Bid CTS On Estimated
Cost Of Construction.
One Maine Concern Among the Bid.
deTs...neservations Made.

Washington, Jan. 13.-Proposa!s
crened by the canal commission Sat
urday for the entire construction Ot
the Panama canal were as low as ma,
been expected by experts on construc-
ton work. For some time it has been
known that several members of the
commission believed Z per cent. uDon
the estimated cost of the construction
would be fair remuneration for
contractor under the form of contract
prepared by the commission.
The lowest proposal. that Of William
j. Oliver of Knoxville. Tenn, and An
son NJ. Bangs of New York city. who
offered to do the work for SIS per cent.
Of the estimated cost. falls even lower
than had been hoped for.
Granting that the estimate of s140.-
0o0, 900 for the construction of the can;i
Is accurate, the remuneration of the
Oliver Bangs combination would be
S9.450,000 in case it is awarded the con-
tract. Much discussion has been caus-
ed by the great difference in the only
four bids received. as they ranged from
6.i5 per cent. to 2S per cent.
William J. Oliver and Arson NJ
Bangs have both been in I'll" contract
iEg business for many years. and the
statements they furnished with their
proposals show that they have done
much important work. Mr. Oliver
states that he has completed 1880 900
rcrth of work in the past 10 years ana
row has s31. 100000 worth or work in
progress. He gives his assets at So
100000. Mr.. Bangs gives his assets 1T
i
eraI Construction co. of New York
Tho other bidders were George Peircc
& Co. Of Frankfort. Nc. and New York
City. who offered TO do the work for 10
per cent. upon the estimated cost: the
North American Dredging Co. of Los An
scles. Cal, who offered to do the work
FOR y per cent. Of the estimated cost. ana
the Macarthur. Gillespie CO. oc New Jer-
sey. whose bid was 1913 per cent
Tho government expressly reserved to
itself the control Of sanitation and enci-
neering. and in the matter of quarters
and the subsiste nee department the right
Of rigid supervision is retained I'm NJ
event." says Chairman Shonts "can the
contractor he allowed to make these de
partment3 an independent source OF
profit
The government likewise retains the
department OF materials and supplies
and. 50 far as the Innama Railroad is
concerned. it expressly is declared that
1t could not wisely b. turned over to the
CONTRACTOR. The worl, to be done by tn,
contractors. therefore. has been confined
to construction
1t is believed that the estimated cast
OF completing the canal Will be material
1y reduced by the aprlica ton If new
principles of construction as the work
progresses.
The proposals provide Il system o.: "a
wards for the completion Df thc work
sooner than the contract calls for. ana
this, it Is cOntended. will effect il saving
SUFFICIENT to offset the cntir" percentage
required to be- paid the contractor on Tho
estimated cost of tho work
More than 100 contractors and their rep.
resentatives attended tn" opening u the
bids. Before reading the proposals Mr..
Shonts explained that no bid would h,
accepted until after the commission has
thoroughly Investigated It,