Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1912-09-26
PREPARING FOR
PANAMA OPENING
FOREIGN NATIONS PREPARING
FOR USE OF THE BIG
DITCH.

With the announcement that the
Panama canal will be opened Oct.
IS, 1913, and by 1914 will be ready
for regular sea traffic, comes the
further announcement that foreign
nations are spending vast sums pre-
pairing to take advantage Of the ca
nal. More money is being spent by
other nations in shipbuilding, caus-
ed by the possibilities Of trade exten-
sion which the canal will offer, than
the cost of the canal itself. 1t is
stated in a recent dispatch:
Five republics alone in South
America are expending $225,000,000
in the development of their railways,
harbors and waterways. Every i'm
portant part of Europe is being i'm
proved to the highest degree of eff
cheney for ocean traffic.
Chile, Peru and Bolivia are ex-
pending $5O,O00,OOO in opening up
their interiors with railways. Chile
is building at Valparaiso new har-
Dor to cost $15,00O,000. Guayaquil,
the principal port of Ecuador and
one of the great harbars of the Pa
cific ocean, is to be made sanitary at
large expense.
On the Atlantic coast Of South
America, Argentina is spending $780,
100000 in harbor improvements at
Buenos Aires, and Uruguay is laying
out the same amount at the port of
Montevidio. Brazil, in addition to
putting into first class condition ev-
cry port on her 3,OO0-mile coast line
is spending 100000 in new rail-
| ways into her rich interior.
Venezuela and Colombia, Central
America, Mexico, Cuba and the other
Central American countries are send
ing agents and commissions to study
trade conditions.
! European Countries Busy.
| European governments are in
structing their diplomatic and con-.
sular agents to make reports on ev-
cry phase of trade opportunity ex-
| pected to result from the canal. Eu-
ropean banking and investment
| houses also are extending their for
eign facilities.
On the Asiatic side, three Japan
| ese steamship companies are build
| ing vessels for the canal, and jap
anese bankers are considering the
! opening Of branches in Latin Amer
| ica. One Chinese owned steamship
company is planning line from
Shanghai and Hong Kong to Central
| and South America. Australia's
commercial organizations are send
ing men to South America to devel-
op trade, while Australia and New
Zealand are planning to establish d
canal steamship line of their own.
Although the canal was not plan
ned as revenue producer for the
United States, it may turn out good
financial investment. Originally it
was planned to issue $375,000,0O0
in bonds for the. canal, but owing to
the good condition of the national
treasury it has been necessary to is
sue only $13S,00O,O0O in bonds.
With an $86,OOO,OOO surplus at pres
ent, it is practically certain that no
further issues will be required.
Receipts $1O,OOO,OOO Year.
Exclusive of military maintenance
the operating expenses will come
|Nwell under s5,000,00o year, and
may not reach $4,000,000. The re-
ceipts in the opening years from tolls
are estimated at $10,000,000.
The capacity of the canal will be
$4,000 tons day. Running at full
capacity, with tolls s1.25 ton, the
revenue would be 100000 day,
$4,000 of which would be profit,
with total annual profit of $32,-
$4,000. This amount would be re-
duced by the coastwise traffic pass
ing through free of tolls, which is
estimated will be comparatively
small, however, in reference to the
foreign tonnage.
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