Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-19
SAILINQ THR OUCH THE
BITTER LAKES,
SUEZ CANAL
Copyright. 1907, by Frank G. Carpenter)
PORT TF,W FIX,

q FILL the Panama canal pay?
NV Investigations at Por
! NM Said and Suez show that II
Wv will, and that Uncle San
will some ray find it his most
! profitable INVESTING mt. l have just come
! through the Suez canal, and am now on
| German steamer anchored in Port Tewnk,
not far from its southern mouth. Our
| trip from the Mediterranean to the Gull
| of suez took Just eighteen hours, and IL
| cost the ship q toll of 800 per hour For
the privilege of passing through 1t had
to Aoay 1880, and, in addition, 81 for
every man. woman and child upon board
All the canal company did in this case
was TO reach out it's hand and take In
the money. The ship had to furnish lts
own coal and steam its way through. and
this money was merely for the privilege
OF passing.
But this ship is comparatively small.
It's tonnage is only 5000, and many OF
the vessels now going through are much
larger Nearly every day steamers pay
10000 each for their passage, and tolls
or $4,000 and $4,000 are not uncommon
When an army transport passes the
men on board are charged 81 mead
and this adds enormously to the canal
receipts Indeed a war which knocks
down all other stocks sends that of the
Suez canal sky high.
What the Suez Canal Pays.
If Panama should pay proportionately
with Suez the United States government
will realize from it something like IA per
cent every year out of it. The money &C
tualIy invested in the canal of Suez was
500 OOO, eco, and it's receipts last year
were over 800 900 COO After paying all It's
running expenses it has more than VIA
900 go left for dividends and other pur-
poses and its stock is now worth more
on the market than that of the Standard
Oil Company.
Within the past year or so the rates of
toll have been considerably reduced, but
they are still $50 per ton on every ship
which passes through. The tonnage now
amounts to between 100000 and a.
COO 900 per year, and 1t grows right along.
II has almost doubled since 1890, and
the ratio OF increase is such, as estimated
by T p Shonts the former head OF the
Panama canal that If 1t continues the
receipts will be quadrupled by the be
ginning of the next century. At that
time it will be over 100000 tons, and
for tonnage alone, not including the
charges for passengers, 1t Will then brine
In the enormous amount of $15,0OO.OO0 per
annum Mr.. Shonts thinks the Panama
canal will be open to traffic in 1914, and
that 100000 tons of shipping will pass
through the first year. The rate will
be higher than that now paid at Suez.
1t will probably be 81 per ton, and at that
Panama will have for its first year
gross income of 100000, not counting
the passenger tolls.
Applying the same ratio of Increase
which the SueZ canal has developed since
it's beginning. the volume of the Panama
canal at the close of the century will
amount to more than 80 600. 900 tons, ana,
at the then reduced rate of s1.50 per ton,
it's income should be S4SOOO,COO per an
num- Mr.. Shonts has estimated that If
we make the sea level canal 1t will cost
US $272 900. 600. and that the lock canal
can be built for about half that sum.
With such dividend prospects In view
the question of the initial expense does
not matter.
Big Bargain in Canal Shares.
The Suez canal is now controlled by
the British. 1t was originated by
Frenchman, financed by French bankers
and engineered by French brains, but the
bulk of the profits go to John Bull.
When Ferdinand De Lesseps proposed to
build the canal the English sneered at
the suggestion. When he got a con-
cession from the khedive, Said Pasha,
thew actually opposed its construction