THE PANAMA CANL.

Bruce Herald, Volume XXI, Issue 2177, 24 June 1890, Page 3

THE PANAMA CANL.

The report of the special commission appointed by the French Government to inquire into completing the Panama Canal has been given to the public. The commission says the canal can be completed on the lock system for 900,000,000 f. It is estimated that the receipts for the first fonr yeara after completion will be, say, 35,000,000 f. per year ; from the fourth to the twelfth year, 50,0000,000?; and thereafter at 61 OOO.OOOf. per annum; the cost being 10,000, 000 f. per annum. The commission report that half the material of the old company i 3 in good condition and can be used for the continuance of the work, and recommends, as the best aolution of the financial question, that th 6 maritime states guarantee interest on the capital 900, 000.000 f required for the completion of this great enterprise. It was announced on the isthmus on May 10 that the commission of engineers sent out by the liquidator of the Pauama Canal Company had decided upon adopting the lock system for completing the work, and that Lieutenant Wise ivouH mike the necessary arrangements wifch the colonial government. Excavations will recommence on the canal a3 soon as preliminaries are satisfactorily settled. The report of the French Panama Committee on the geological character of the route of the caual says the whole distance will have to be cut through impermiable soil, and the water in the reaervoira is not Bubject to diminution. The snrveyors proved that precautions could be taken to counteract the evil effects of earthquakes. In consequence of this report canal shares dropped 14f in Paris, and are now quoted at 28f. Thi3 shattered the last hopes of the company.