New-York tribune., 1922-11-27
Traffic Boom
Reported for
Panama Canal
Annual Survey by Gov. Nor.
row Shows Rapiti De'yeI-
opmen. of Trade Between
Atlantic and Pacific Ports
Returns Jump $75O,O 900
II. S. Vessels Lead i'm Num-
ber and Tonnage; Brit
ain Second. Japan Third

WASHINGTON, Nov. 2s.-An in
crease In Panama Canal traffic TO
quadruple it's present volume is pre-
dicted by Colonel Jay J. Morrow, Gov
ernor Of the Canal Zone. In his an
nual report, made public to-day, he
points to a rapid development of the
coastwise trade between the Atlantic
and Pacific ports and saws "nothir in
the future Is more certain than that
.the development of known resources
Of Colombia, Ecuador, Peru and Chile
win support rapidly increasing vol
ume of traffic through the canal"
Colonel Morrow warns there will be
years when, for temporary causes,
growth will be arrested. He describes
the last fiscal year as such a one, add
ing that s.the widespread CONNIE rcial
stagnat:on, which resulted in large
portion of the tonnage OF all maritime
nations being withdrawn from service,
naturally reflected in canal operations.
Despite this, there was in increase
in the net operating canal revenue,
the total for the year being placed at
Approximately s3,450, ,000, an increase
of about s750,0Oo over the total the
year before. It was brought about,
the report says, by material reduc-
tion in operating expenses.
Il. Panama Railroad Shows Loss
Auxiliary business operations yere
s,,1 ;o ha
business operations, including me-
,chanical shops, material storehouses
and fuel oil plants, showed profit of
S323,2 ,259, as against $564.211 the year
before, while the Panama Railroad
Company showed loss of $710,30l, as
compared with q profit OF $S3,282 in
1921.
The number of vessels passing
through the canal during the fiscal
year was 2,736, as compared with
= 2,892 the year before, but the net tor
mage was slightly greater, denoting an
increase in the average size Of vessels
using the waterway.
Cargo passing through the canal was
1885 s1o, or 93.S per cent of the total
handled in the previous year.
"The greatest shrinkage was in the
trade with the west coast of South
America" the report says. Exports
from the Atlantic and Gulf ports Of
the United States to that region fell
from 933,261 to 244,514 tons. Euro-
peaH exports to South America de-
clined only from 297,16s to 2s3,s04
tons.
Exports from South America
through the canal to the United States
were 54S,609 tons, as compared with
975,597 in 1921, and to Europe 663,127,
as, compared with 922,499. Crude oil
shipments from Mexico to South Amer.
:ica fell off from 654.659 to 25S,562
tons. The total loss of cargo in this
South American trade was l,7SS,566
Nitrate Shipments Fall OF
Nitrate shipments from Chile were
less by 1,059,796 tons, and this. to-
gether with the curtailed purchasing
power resulting from the collapse OF
the nitrate industry, is sufficient to
account in large part for the whole
shrlnkage in South American business.
"As serious as this slump in South
American business has been, it's eco
nomic causes, are temporary. Indica-
'tions of q partial recovery in the Soush
American trade we're perceptible at the
close of the year.
HThe trade with Australasia has also
fallen off. The total loss of cargo
amounted to S64,41S tons. In this case
also economic conditions are in the
main responsible for the decl ne, but
! there also has been some diversion of
| traffic from Panama to competing
routes.
Exports from the United States to