The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-08-15


probably 100000 The present
equipment consists OF five large
dredges, two Golfers, a ninety-toot
material barge, a large machine shop
barge, and a great number Of house
boats. The contract calls for a chan
mel FIVE feet deep and forty feet wide,
and the contractor expects to have
the entire canal open for navigation
within twelve months and finished
within two years. The soil Of the
country between Tanlpico and Tux
pam is exceptionally rich and the az
ricultural resources have remained
practically undeveloped for lack OF
transportation facilities. The con-
struction of this canal viii materially
augment the business of Tampico, as
it will furnish convenient and ade-
Quate means for marketing the prod
ucts of the farms and ranches within
the territory referred to as well as
establish direct communication with
Tuxpam. a city of 10000 inhabitants
Regular weekly boats are now being
run through the canal between Tam
pico and MISUNDERSTANDING Illus
trated.
The trade of Rouen, which during
1906 increased to such an extent that
of French ports, was about the same
during 1907. During that year, says
Mr.. c. Clipperton, the British consul,
in his report of 1907, 1868 vessels
brought to the port 5,2S7,7S9 tons OF
merchandise, as against 1850 vessels
bringing 1886, los tons in 1906, an in
crease for 1907 of 81 ,621 tons in mer-
chandiSe brought with a decrease of
81 in the number of vessels As
usual, the principal article of import
was coal. OF the merchandise i'm
ported in 1907 British shipping
brought sol ,22S tons, of which 1870
036 tons came direct~from the United
Kingdom During the year the dis
charging facilities of the port have
been MITCH improved--Shipping Illus
trated.
revised plan for recognizing the
Morse coastwise steamship line com
bine-the Consolidated Steamship
CDmpany-waS announced by the
bondholders' committee July %. Ii
provides for the formation of a com
pany to be known as the Atlantic,
Gulf and West Indies Steamship
Lines. In this company viii be
merged the New York and Cuba Mail
Steamship Company, known as the
Ward line; the New York and Porto
Rico Steamship Company and the
Clyde and Mallory lines The Metro
politan and Eastern lines may be
brought in later. The new company
had a capital of $40, 000,00 and
bond issue of $4,000, 600, bearing in
terest at the rate of per cent. Tie
old company had a capital of S60, 00O,-
600 and $60.000,0 900 of per cent col
lateral trust bonds. Among the fea-
lures of the plan is that in addition
to the first mortgage obligations OF
the four Southern companieS-the
Clyde, Mallory, New York and Cuba
Mail and New York and Porto Rico
ompanies-embTaced in the reOrgan-
iZation plan, they also have a floating
indebtedness, for which provision
must be made in any plan of reOr-
ganization. To meet the urgent Il
nancial needs of these companies, the
committee will offer for sale s., 4O0,-
900 6 per cent collateral trust notes
of the new company and S7,200,00O
of new common stock. The new
notes will be secured by an equal
amount of notes of corresponding
date of tie four subsidiary companies
and these in turn will be secured by
the pledge of first mortgage bonds OF
the company not to exceed 80 per
cent of the face value.
Arrived.
Nor SIS Galveston, Bryde, 93S, Ma
tanzdS to Cary & Co.
Ger IS Elizabeth, Schroeder, 1868,
Tampico, to Robert Tuemler & Co.
Brit SIS Newlands. Budie, 2137, Tam
pico to Tuemler & Co.
Cleared.
Nor SIS Galveston, Bryde, $50, for
Galveston, with $50 tons coal.
LIST OF VESSELS IN PORT.
Steamships
Brit SIS ChisWick, Mussen, 1886,
AKIN, to Gulf Transit Co