The Panama Canal.

Te Aroha News, Volume V, Issue 233, 17 December 1887, Page 4

The Panama Canal.

Senor Janco Armcro, agent of the Columbian Government on the isthmus respecting canal affairs, leports :—: — "1 have carefully travelled o\ei' the whole line of the work, lonnocl an opinion respecting it, and nm now in possession of coueet data. The annual repoits pie.scnted to the shareholders by M. Do Lctsep.s aie paitial, and tho.se of the directors of the enterprise cxaggciatcd, and worthy of no credit whatever." Armero states it will take the enounous Mini of i-508,299.000 to complete the woik, and as it will be very difficult to rai^e this money, it is. useless to rien.y that the financial condition of the Company is alarming. In conclusion, he believes that, after a caieful in\ estimation, the tiaih'c thiough the canal, should'it he completed, will be much better than lias boon estimated. Do Lessops, in a letter to Pienjier Rouviei on November 15lh, a^Li>iL r authority to raise a loan for the canal b^ tlio is->ue of lottery bonds, .■-lates that he is negotiating with his engineer fcr the purpose of insuring the digging of a passage aeioss the isthmus suiHcient lor the Uaih'c of 7,500,000 ton.., yearly, reserving the completion of rhc work for the future, as in the ca^e of the Suez Canal. He says the funds for completing the woik will be derived fiom the annual piofsls. Victor Do Lesseps. in a letter dated November 9th, states that his father, Count Ferdinand Do Lcsseps, will soon make anothci tiip to Rmama. He repeats the promise that the canal will be opened on Febmaiy 9(h, 3589, and that no further loan for the canal a\ ill be required. The letter is intended to leisure the alarmed holders of shares oi the Panama Canal.