Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-10

The Panama Canal now Is paying
approximately 10 per cent ON It's orig
inal cost and In another year the
expense of building 1t will in all proba-
bility have been returned to the Treas
ury. The original cost Of the canal.
| its machinery, approaches and general
accessories was $242. 100000. THIS Is
what might be termed the business m
vestment made by the United States IN
the waterway. The fortif1cations Cos.
is not included In the figure. as that
cost never was expected to earn any
thing, being an outright expense on ac-
count of national defense.
For the fiscal year 1923, the canal
broke all records with the passage OF
6,456 vessels which paid tolls aggre-
eating S26.944, 500. The Panama Ca
nal was opened to traffic on August Is,
1914, when the last barrier was blown
up with high explosive touched on
with appropriate ceremonies. Tramc
for the remainder of 1914 and for 1919
was Jumped together in the reports and
showed passage Of LOIS vessels paying
tolls of $4,367 $50. The next year, 1916,
was the canals hard-iuck year when
the great slides kept the waterway
closed to traffic for approximately seven
months. For that year there were only
75S transits, from which s., 4O8, 900 was
collected In tolls.
From then ON the number Of transits
and the amount of tolls collected began
| to climb. In 1918 the transits passed
| the 1000 mark. In some years there
were slight setbacks. but nothing ser1-
Gus, and In the later years transtts and
collections have grown by leaps and
bounds. For example, In 1922 there
were 2,736 transits, paying $l1.19I,832
4 L. fT1Hn
| that volume of business. The last year
showed 6,456 transits, paying SIG, 944,-
| 500 in tolls.
Aggregate tolls collected since the
| opening of the canal IA years ago nave
! Amounted to $193, 307. 728. If business
| continues to increase at the previous
| rate of acceleration 1t seems wholly
possible that the next fiscal year
| win show that the whole cost OF
s242. 600 900 has been repaid.
| American warShipS are exempt from
| the payment of tolls. Had Tolls peen
collected from all such vessels ON
| the same basis as commercial, prlNateiy
owned ships. the canal would navs
| For example, In the last year 42u
| united States Government vessels
nassed through the canal. It IS figured
| that had tolls been collected rom all
exempt vessels $8.967 900 would nave
been added to earnings for 1873 alone
How Tells Are Reckoned.
Tolls are based on the net tonnage o.
vessels. The charge is $1.20 per ton
for ships laden with cargo, but oniy "
cents per ton for vessels in ballast: ln
view Of this toll basis the prospect foi
steadily increasing earnings can De es-
timated BY an examination Of the plans
of shipping companies The larger rne
shin the more TON Is collected. Tne
IPanama-Pacific Line is shortly putIne
two new IS, OOO-ton ships in service on
Panama Canal routes The Panama
Mail. Grace Line, Roosevelt SteamsmL
Co. and Americana Hawaiian Line aIe
among American flag shipping COM
psnieS planning increases IN their SeIv-
ices The Shaw Savill and the AlDloI
lines. British-owned, are putting tnTet
new ships in service on the canal route
next Summer and the New zea!anc
shipping Co. is inaugurating It's nader
voyage between England and New 1ea-
land this month. The Hamburg AMER
can Line Is building four 9.O0o-tor