Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1914-04-22
"s'sS's.S..f.s..f.f.ss' OBSERVATION-DISCLOSURES.
i. THE SUEZ CANAL AND !.
4. THE PANAMA CANAL. !.
'S'sS"sSsS..S.st.sf..t. si.sS.sS.S.S.S.S.ss..S'S'
Washington Post.)

That the readers of the Post may
have the benefit of concise and brief
statement as to the Suez Canal and
the Panama Canal we give in this
article some data that cannot fail to
be useful to the public.
The Suez Canal is owned by a
stock company with shares OF capital
stock numbering 1924. Since
1875 the British government has
been the owner of 176,600 of these
shares, for which it paid $19,S55,-
$40.
Through it's holding Of these
shares the British government eXer-
cises a controlling interest in the
Suez Canal.
The canal cost about $127,0OO.-
900; is 1913 miles long, about 28
feet deep, and 1t takes II hours for
vessels to traverse it.
During the year 1910 the SueZ
Canal was traversed by 4,533 vessels
with total net tonnage of 16, ,5S1, =
sos, and the toll charges were $1.3O
per net ton for vessels with cargo, 50
cents per ton for vessels in ballast
and $1.93 for each passen ger over -
years of age.
The total receipts Of the canal
company for the year amounted to
$25, 16S, 400, the cost Of operation
and maintenance to $3.S57,4O2. Pay,
ments for fixed charges, and in retir-
ell canital obligations, aggregated
$6.O72, ,6G2.
The company's net profits wcrc
5,90S,419, allowing the payment
Of dividend of 81 per cent on the
canal company's shares.
The outstanding capital \ obliga-
tions amounted to 92,4S4,544 at
the close Of the year 1910.
The Panama Canal is owned by
the people Of the United States.
1t is estimated that it will cost
them; when completed, approximate
ly 1915, 100000.
1t will be Sd miles in length, Al
feet deep, and 1t Will take about 10
hours for vessels to pass from ocean
to ocean.
To pay for this canal the United
States government has issued
Eightv-four million six hundred
and thirty-one thousand nine hun
dred and eighty dollars in its bonds
bearing interest at rate Of 2 per cent
per aEnrm.
Fifty million dollars in bonds
bearing the rate Of 3 per cent per
annum.
The cost of the canal in excess Of
the amount received from the sales
Of these bonds has been paid from
cash in the United States Treasury.
traffic expert report made to
President Taft estimated that TO-
100000 net tonnage would pass
through the canal in 1915, of which
the coastwise trade was considered
as furnishing 100000 tons. The
rate of toll as established by Presi /,
dent Taft is to be $1.20 per net ton.
or, in other words, 10 cents per net
ton less than the Suez rate.
Our coastwise trade being free un~
der existing law, isnce repealed) !,
this would mean collection by our
government Of ahout S11,300,0On
from the trade going through under
tolls
The costs OF maintenance and ope-
ration should not exceed those at
SueZ. and this, being approximately
$4,000,00O, would leave more than
$7,000,000 to apply to interest
charges, or about 2 per cent on the
entire Investment
No one doubts that each succeed
ing year will witness far greater ton
nages passing through the canal.
largely increasing the receipts, and
it is regarded as assured that before
1920 the earnings Of the Panama
Canal Will be not only caring for all
interests and fixed charges. but re-
paying to this government in annual
installments the sums advanced in it's
construction.