The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-11-20
RECEIPTS FROM
PANAMA CANAL.
SHOW PROFIT.
AMOUNT Of Shipping Handled
Also Highly Satisfactory
For Fiscal Year
JAPAN SHOWS DECREASE
u. S. Made the Greatest Gains
According to Report of
Gov. Morrow


Of the Panama Canal and auxiliary
agencies during the fiscal year end
ed June 30, 1928, were record-break
ing i'm volume both as to flnanciai
returns to the United States govern
ment and aid rendered world SHIP
ping, the annual report Of Governor
Morrow made public today, shows.
From the financial standpoint the
canal netted n profit of $l2,O63,S80
from all sources, excluding the ran
anna Railroad Steamship Line, as
compared with $9,201 ,Gl3 in the MS
cal wear 1922 and, traffic operations
increased on Il scale that mas
I brought the water way to point OF
RAPIDLY overhauling the Suez Canal.
. The net income from tolls and 9TH
or miscellaneous receipts grcuped
under the head Of transit revenue
4: was $4,000 ,O66 in 1928 as compared
with $3,466,674 the preceding year
The net profits from auxiliary oper-
ations totalled $1,l40,642 as against
s323,259, while those conducted by
the Panama Railroad Company eX-
Guiding the steamship operations
showed profit of $922.l7l against
a loss of $71O,30l in 1922.
Transits Increase
Governor Morrow's report also
shows that the number Of commercial
transits increased from 2,736 to
1867: net\tonnage from 11,417,459 to
1906, 1856; tolls from $ll,197,S32 to
S17.5OS.199 and cargo tonnage IRON
/. 10.sS4,91O to 19,567,S75.
.'The phenomenal growth Of the
: past year." the report continues
"was not anticipated and is IN a
sense abnormal. 1t is due primarily
to the development of oil fields In
southern California, which has sup
planted Mexico as the principal
source of supply for the eastern sea
board of the United States. Inc
movement of California oil through
the Panama Canal began in October
1922, and has INCREASED with each
subsequent month until at the close
of the year (June 80, 1929 oil II
furnishing 80 percent of the east
bound cargo and tanker tonnage II
either direction is approximately al
great as all other commercial ton
mage combined"
Governor Morrow explains that !
is predetermined how long thes
heavy shipments of California OF
will continue and points out that tn
possible discovery and developmer
of new fields may raise the volum
of trade in that commodity to declin
as rapidly as it grew. He adds tina
important contracts have been Mao
extending over long periods, and,
the present time he sees no lndlc'
ton of a slump.
Japan was the sole nation anon
the maritime powers of the world
show decrease in its shipplr
through the canal in the fiscal We;
of 1928. All others shared in tt
increased traffic and sent great
! net tonnage through the water wa
in 1923 than they did in 1922.
u. s. Shows Gain
"The United States made the grea
est gains" the report says, y
creasing from 1905 vessels to 1893
and CARRYING 1865 percent OF t
cargo moving through the cans
British vessels 25.2 percent; Japa
csc 4.S and Norwegian So"
An analysis Of the traffic throu
the canal by principal trade rout
shows the most increase was in
United States inter-coastal ira
4hh traffic increased from 2,562,s
tons to 8,06S,553.
it'll 81 InPrplC
the report adds, Gin trade betwe
:sthe east coast Of the United Sta
and the west coast of South Anne
Ca. cargo moving over this route
both directions increasing from x
1913 tons in 1922 to 2,954,523 in 19
sChilean nitrates and iron ore
Peruvian oil were the most lmp0
.ant single items in the total.
"The trade between the east CO
! Of the United States and the
EAST fell off from 2,031,487 ca
tons in 1922 to 1,909,285 cargo t
Sin 1928.
"The trade between the. west CO
of the United States and Eur
sshowed slight decline in ca
handled, which was balanced by
eincrease in the trade between +
ope and western Canada. If the
sets Of statistics are combined,
is logical, since vessels trading
the west coast of North Anne
Commonly call at both Canadian
United States ports and it is d
scult to make an accurate segrega
Of cargo on the basis Of the decl