THE PANAMA CANAL.

Colonist, Volume LVII, Issue 13771, 7 May 1915, Page 7

THE PANAMA CANAL.

'; The Panama Canal was opened on ; ■lufut-.t. 20th, and up to January 31st ,it earned £393,220 in tolls. The total itonnaqe for this period wa5'2,192,&'56, j whiclAvas carried in 454 vessels of all idosmotions. An analysis of the traffic ' shows' that the United States coasting ; shipping continues to make the largest | share of canal toll payments, although ■that to the United States and Europe ' from .South American west coast ports "i is increasing rapidly. Traffic from the ! United. States to the Far Ea.t . a*o Australia and New Zealand is making slower headway than that of either of the other two large trade routes. * The canal earnings will have to ■ increase many fold before they will pay the cost of maintenance and interest on the ■cost of construction. Interest alone. at 4 per cent, on the cost of construction, wculd.be about £1,379,000 for ■'th* o!Umonth period during which the ii gross* earnings were, only £393,220. :' What it has cost to operate the canal L'aa.d protect ib during the same space !!of time has not been disclosed. It ' never was expected that the. canal would'pay expenses at the outset, and the most optimistic forecasts have been that not for at least five years would it be placed on a paying basis. The canal authorities have recently niade a reduction in the rates charged - on timber shipped- through the canal, ] which will antount to a saving of near-.1 * ly 20- per cent, to consignors of deck- , loads of such merchairidisev 1 '