The comet. (Johnson City, Tenn.) 1884-1916, 1907-01-17
KNOXVILLIAN SUCCESSFUL.


ANAL commission today opened bids
rom private contractors for the com
petion of the Panama canal, In the
opinion of Chairman Shonts the canal
is the greatest undertaking of modern
times and is in the highest degree ex-
ceptional in magnitude and complex
ty.
W. J. Oliver, of Knoxville, Tenn
and Arson NJ. Bangs, of Nassau st
New York, associated together, were
the lowest bidders They propose to
do the work for G. IS per centum on the
estimated cost. The bids were opened |
at noon by Chairman Shouts. -Four
only were received. The
other bidders were George Pierce &
Co., OF Frankfort, Me-, and New York
city; North American Dredging Co., of
Los Angeles, Cal, and the Macarthur
Gillespie Co, of New Jersey.
W. j, Oliver aud Arson Bangs, the
lowest bidders, have had much expert
ence in contracting work. Mr.. Oliver
is one Of the largest railroad contract
ors in America, and is at present en-
gagged in tunneling Lookout Mountain
and other extensive work. Mr. Bangs
was the contractor for the 500 canal
locks.
Bidders were required to accompany
their proposals with certified check
of 100000, and the successful bidder
will be required to give bond in the
sum of 50, 100000 to protect the gov
eminent from any loss.
The government expressly reserved
to itself the control of sanitation and
engineering, and in the matter OF
quarters and the subsistence depart
ment so directly connected with the
health and we'll being of canal EN-
ployes, the right of rigid supervision
is retained.
1t is believed by the commission
that the estimated cost of completing
the canal will be materially reduced
by the application of new principles of
construction which will be discovered
as the work progresses,
The proposals were as low as had
been expected by experts on construc-
ton work. For some time it has been
known that several members of the
commission believed per cent. on the
estimated cost of the construction
would be fair remuneration under
the form of contract prepared by the
commission. The lowest proposal,
that of William j. Oliver, of Knox.
vile, Tenn, and Arson NJ. Bangs, OF
New York city, who offered to do the
work for 6. rs per cent. of the estimated
cost, falls even lower than had been
hoped.
Granting that the estimate of $40,
900, 600 for the construction OF the ca.
nal, which has been frequently spoken
of in congress, is accurate, the remu-
neration of the Oliver Bangs combina-
ton would be 50, $50, 600 in case it
was to be awarded the contract. Much
discussion has been caused by the
great difference in the only four bids
received, as they ranged from 6. rs per
cent. to 20 per cent.
William j. Oliver aud Arson NJ.
Bangs have both been in the contract
ing business for many years, and the
statements they furnish with their
proposals show that they have done
much important work. Mr.. Oliver
states that he has completed $1S, 100, :
900 worth of work in the past ten years
and now has $31, 100000 worth of work
in progress. He gives his assets at
100000. Mr.. Bangs gives his assets
at So, 900, 900, and states that he was
the contractor for the 500 lock at
Sault Ste. Marie, Mich, Delaware
breakwater and Buffalo breakwater,
the contract price for each of these be-
ing so, 500, 600
The contract provides that each bid
der shall undertake the entire work of
construction. No bar was offered to
corporations associating, in the under
taking, but they were required to be
legally organized into a single body
with which the government can deal.
The actual work of constructing the
canal is to begin sixty days after sign
ing the contract and the contractor will
take over all employees on the isthmus
which the commission does not wish to
retain, It is also provided that no
American employee is to work more
than eight hours. There is no time
limit for the com pletion of the canal
in the contract
The per centage system of payment
was adopted because this method is be-
ing employed increasingly by the most
successful corporations in the country.
Probably nobody in the United States
certainly nobody in Washington
reads and replies to as many letters ev-
cry day as does William Leob, secreta-
ry to the president. Rarely is the
number less than 300 day, and it has
been known to approximate 1000. The
great bulk of these epistles, Of course,
are meant for the president, but neces-
sarily the secretary directs the atten-
ton of bis chief to only few of them.
The number addressed to Mr.. Leob,
however, is increasing, This is due to