FAILURE OF THE MANCHESTER SHIP CANAL.
The Manchester ship canal is thought by the London Times of December' 2nd to be both a financial and a commercial failure. It has been open eleven months, and ifca business shows no sign of increase from the beginning, but, of late has diminished rapidly. If there were, a paying badness to do there is not sufficient dock equipment. The gross receipts of the canal for the year '"' will be £80,000 less than is-needed to pay ''• the interest on the, first debentures. - Thft ; debt is five millions. The Corporation ol: Manchester has found this great sum, and must find more if the. under taking ienot £o. . i ; come to a standstill. At. least,* roil Usa . more is urgently wanted* If this ssm is ;
found the yearly liabilities of the Company Will be £510,000, with a revenue of less than £100,000. Whichever way it is looked at the prospect before Manchester is as black as its atmosphere.
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Press, Volume LII, Issue 8992, 3 January 1895, Page 5
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162FAILURE OF THE MANCHESTER SHIP CANAL. Press, Volume LII, Issue 8992, 3 January 1895, Page 5
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