THE PANAMA CANAL.

Star (Christchurch), Issue 5993, 30 July 1887, Page 6

THE PANAMA CANAL.

M. Boulanger, one of the Chief Engineers of the Canal Enterprise, was in New York on July 17, and talked regarding that great undertakiag before the American Society of Civil Engineers. Among other things, he said that about 30,000,000 cubic metres, or a total of 100,000,000 metres, to be excavated, have now been removed. He also asserted that the Company has only money enough on hand to continue the work for four months, and he doubted if M. De Lesseps could raise any more in France. The death-rate among the labourers was about 60 per cent of the coloured workmen, and 80 per cent of •white per annum. The Company had great trouble in obtaining workmen owing to this fact. Following up this subject, the New York Times, on June 29, says : — V Those familiar with official reports concerning the Panama Canal will not be surprised by the announcement that the chief executive officers of the Canal Company have left the Isthmus in a hopeless state of mind. The Company's money is almost exhausted, unless shareholders and bondholders shall without delay raise additional millions to be thrown into the ditch, work will be entirely suspended, and a great scheme will collapse. But it is possible to raise more money. The cost of the Suez Canal was less than 100,000,000 dols. The Panama Company's obligations already exceed 240,000,000, and only a beginning of the work has been made."