The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-08-04
ny FRANC G. CARPENTER.


the window above.
ny FRANC G. CARPENTER
Colon. Panama.
YNcLE SANS railway
1 Yes. the title is right unei j..
! W sam owns railway. and Il is
Zone Of the prettiest. busiest and Dest
managed lines OF the world. 1t mas
more ,raffic in proportion ~ It's Length
i.han any road owned hy any other
lrovernment. and IS paying better than
an railway system OF the United
states. It is beehive of Industry
which stores up honey OF liquid gold.
.The line earned last year more tnan
Isl 100000. which according 10 the
width OF tho TERRITORY fl covers, Was
more than $4,000 mile
Tho main track of this road is less
1han nifty miles long 1t begins mere
's, Colon and runs across the lsinu-
mus Of Panama. NOTtlng the canal
land ending at Balboa. our new porl
on the Pacific \ part q ~ is double
l,raoked. and Il has switches and 9TH
Ter construction az the terminals
which give it total Length OF lss
miles. hut even taking them into con
,,idera,ion. IL Is doing more business
fl venture than any other raslt "a
under the sun. 1t took In last year
more than ss00O.000. aud lts trtisht
t.rafnc amounted to moro than i.50V,-
1000 tons It carried nlnos. 2,5oo'noo
iras.engers And all this was outside
t,ne work done on the construction
tracks of the Panama Canal.
The Panama Railroad IS run as
commercial proposition and Uncle
sam keeps his ,rs.,ks In tho cu!eora
ECGt an deisewhere on separate ac-
49, sTl L. ~ y . a
az other roads on the Canal Zone. ou,
the Panama Railway proper Is 2 goY-
icrnment road, which chaFges fares 20
every ono who goes over IT and makes
every ton OK freight pay It's tolls.
"a Government Enterprise which Pays.
Blu, nrst let me tell you how the
-sl-oad IS managed and something
more OF tho enormous p-orts II makes
the president Is Colonel George ".
T, Goethais. the chief engineer 81 the
canal. and the nrst Interpretations ia
Mr.. E A. Drake. VINO has his head
iouarters In New York Mr. Drake has
ibesn connected~with the institution for
many wears and Is ono OF ITS most
valuable employees In addition. We
have Engineer Commissioner Hodges
as the second vice president and as
the general superintendent and the
man who has his hands on the wheels
land Mr j. A. smith who has under
him fun corps OF engineers. mechanics
and transportation officials. and the
usual machinery which belongs to the
mana cement of any great railroad
All Of tho officers arc appointed by
Uncle sam. al nd with the exception Of
one or two shares. all the stock be-
longs TO him. II came TO the govern
inent through our purchase of tho
Panama Canal, being turned in b. tho
French at a valuation OF s7000,o0O.
THE last French company had bought
III of the De Lcsseps organization for
ieighteen millions, but when We fig
rured out tho values of the Isthmian
property it was put down at seven
millions. and II has been carried on
The books at that sum. Nevertheless,
its assets have steadily grown. until
they are now over $25.62r .0oc. and the
company to-day has surplus of al
most twelve millions. Moreover. the
ltrafic and the profits are steadily m
lcreasing. The freight tonnage last
wear showed a gain OF more than %
'per cent. and the number OF pas
ecngers was s per cent. moro than in
h9lO.
II Has Earned Millions.
The Panama Railroad has alwaya
heen a paying institution. 1t began 10
yield dividends as soon as TITO first
trails were laid and for moro than
generation It proved 10 be gold
mine TO its owners. 1t was started
fly an American company at the time
that the California gold excitement
WAS at its height. and before the for
lty-seven miles which formed the first
track was completed It had earned
s2.000E00. Within four years after
that its earnings were s32.ooO.0O0
(which was four times what the road
cost 10 construct. and 1t has kept on
paying for itself again and again. 1t
ihss always charged we'll for it's SER
vices. Beginning with It's opening in
1855, it's freight rates were something
like $3.50 per ton. or more than So per
Fon per mile. and passengers paid S25
ifor single ticket which took them
'from ono side of the Isthumus to tho