THE PANAMA CANAL.

Evening Star, Issue 14963, 24 August 1912, Page 5

THE PANAMA CANAL.

CHANCES OF A RATE WAR, Press Association—By Telegraph—Copyright, NEW YORK, August 25. Financial circles are discussing the Panama Canal legislation, which is seriously affecting railroad stocks. Pacific Railways .shares underwent considerable alterations. As one result of the Bill, State officials at Washington predict a rate war involving the maritime nations of the world. It is thought that the directors of the Suez Canal may lower their rates to attract trade. THE PACIFIC ISLAND TRADE. SYDNEY, August 23. The head of a large island trading company states that, unless efforts are made in time by Australia, the United States will secure much of the island trade when the Panama Canal is opened. THE SUEZ ROUTE SUPERIOR, NOTHING MUCH TO BE FEARED. WASHINGTON, August 25. (Received August 24, at 9.15 a.m.) Reports have been received at the State Department that the directorate of the Suez Canal have decided further to reduce the current rates. AN AUTOMATIC, NOT A RETALIATORY, ACT. LONDON, August 23. (Received August 24, at 10.45 a.m.) The American report that the lowering of the Suez Canal dues is by way of retaliating against the proposed Panama tolls is contradicted. The recent prospective lowering of dues is automatic, and not affected or caused by American policy in Tegard to the Panama Canal. Professor Emery Johnson, a Panama Canal expert, in an interview, said that if the Panama Canal is to be a financial success the tolls must be lower than those of Suez, and even lower tolls will not withdraw from the Suez Canal the larger part of the Oriental trade, because the Suez route affords greater traffic opportunities in the lower price of coal and other supplies. A reduction in the Suez Canal rates of 6.25 francs (5s 2id) per ton is announced.