Albuquerque morning journal., 1922-11-27
COVE ERNOR SEES
AN INCREASE IN
CANAL TRAFFIC
Present Volume win be
0uadrupIed, Is the Predic-
ton of Executive in His
Last Annual Report

Washington, Nov. 26.--An in
crease in Panama canal traffic to
ouadruple it's present volume Is
predicted by Col. Jay j. Morrow,
governor Of the Canal Zone. In
his annual report, made public to-
dav. he pointed to rapid develop
ment of the coastwlse trade Pc
tween the Atlantic and Pacltic
ports and declares that nothing IN
the future is more certain than
that the development of known re-
sources of Colombia, ECUADOR,
Peru and Chire viii support rap
idly increasing volume OF tralllc
through the canal"
Colonel Morrow warns, however
that there will be years when Tor
temporary causes growth Will pc
arrested. He describes the last
fiscal year as such one, declaring
that the widespread commercial
stagnation which resulted in a
large portion OF the tonnage OF all
maritime nations being Withdrawn
from service naturally had Its re-
Election in operations Of the canal
Increase in Net Revenue
Despite this situation there was
an increase in the net operating
canal revenue, tie total for the
year being placed at approximately
S3.45O,000, an increase of about
S750,000 over the total for the year
before. This was brought about,
the report says by material re-
duction in operating expenses.
A h,1cinncG nnnrftnnS
were not SO successful, however.
The canal business operations. In
GLIDING mechanical shops. material
storehouses and fuel oil plants,
showed q profit of $323.25S as
against s564.211 the year before,
while the Panama Railroad com
pany showed loss of S710,SO1 as
compared with a profit of $SS,282
in 1921.
The number of vessels passing
through the canal during the fiscal
year was 2,736 as compared with
2,S92 the year before, but the net
tonnage was slightly greater, de-
noting, of course, an increase in
the average size of vessels using
the waterway.
Cargo passing through the canal
was 10.S84,910. or 93.S per cent of
the total handled in the previous
year.
"The greatest shrinkage was in
the trade with the west coast #
South America" the report says.
exports from the Atlantic and
gulf ports # the United States to
that region fell from 933.261 to.
244,514 tons. European exports
to South America declined only
from 297, 166 to 2S3, ,S04 tons.
South American Exports
Exports from South America
through the canal to the United
States were 54S.609 tons, as COM
pared with 975.597 in 1921 and to
Europe 663.127 as compared with
922,499 Crude oil shipme~t is from
Mexico to South America fell off
from 654,659 to 256,562 tons. The
total loss of cargo in this South
American trade was 1.7S6.566 tons.
Nitrate shipments from Chile
We're less by 1,059.796 tons and
this together with the curtailed
purchasing power resulting from
the collapse of the nitrate indus
~ Gtll1Itltlll W dNGouIlL III ldl St
part for the whole shrinkage In
South American business.
"As serious as this slump in
South American business has been
its economic causes are temporary.
indication of partial recovery in
the South American trade were
perceptible at the close of the year.
The trade with Australasia has
also fallen off The total loss of
cargo amounted to 664,41S tons.
In this case also economic condi-
tions are in the main responsible
for the Decline. but there also hae
been some diversion of traffic from
Panama to competing routes.
Exports from the United States
to the Far East increased from
1,213,906 to 1,72S.172 tons. I'm
ports from the Far East fell from
42S.04 to 303.315.
Most Remarkable Gains
"The ~ost remarkable gains Of
the year Were in the trade of the
Pacific coast Of North America,
exports from the west coast of the
United States to. Europe were
1902, 1873 tons, as compared with
154,513. Western Canadian i'm
ports from Europe increased from
20,416 tons to 1859 tons and
American imports from 144,591 to
1S6,696.
Cargo moving. east to west in
the United States eoastwise trade
increased from 69S.429 to 1.2SS,075
tons, and Cargo moving from west
to east from 673,95s to 1,274,452.