Show THE PANAMA CANAL tito panama canal seems to bo be tho the subject of the most contradictory lepor reports ts it presents itself under the most fluctuating aspects to the eye of the parties interested in the enterprise and to those I 1 relatively 1 Y ll 11 unconnected with it in III tile very onset the method chosen by LAI do to establish the scheme on oil a firm footing was little adapted to jain gain it particular sympathy and the by no means sympathetic attitude of the united states proved an tin almost impassable obstruction st to ita its conw onward ard BU but t the indefatigable energy of M dc do lesseps le Ies and tho the enthusiasm of liis his admirers conquered the li hesitation of the diffident and the preparatory labors on the work we were refinish finished last year hut but whether they will ever succeed in completing tho the canal itself now appears more than dubious the internal dissensions wl which fich have for some timo been existing between the parties employed in tile various departments culminated a few months ago in a great scandal in consequence of which several of the most prominent leaders resigned their position there Ther was ewas talk tall about cabout irregularities ties this significant disguise uise for dubious conduct of business 11 n es concerns yellow fever epidemics the number of dead already I 1 I 1 I 1 amounting to over 1000 name sand general discouragement the latter at has been proven an invention but it has lias become a patent pal pable fact that the enemies of tho tile enterprise arc are increasing 0 in number and hostility in the beginning of this year A reclus tho the first agent of tho the company returned to colon and under liis his direction rapid progress was made on the tile work which had been lagging b thitherto the first sod was turned on jan jail near the culebra pass the archbishop of panama assisting in the celebration which wound up with a fine banquet banquot but even then ominous clouds dimmed the distant li horizon orizon at the original convention in paris the capital necessary to ao carry out the enterprise was estimated at 1250 millions of franca which however was reduced to millions this sum settled upon by tile experts was still too high for do lessups and he lie reduced it to to millions million 0 fc u A for a private undertaking ilde rt aking A contractor appeared who was willing to perform the tile digging for millions millions less than tile experts had deemed indi indispensable spens able how he lie will achieve it is liis his business still judging from the experiences in n procious prcy prOT ious enterprises such a gigantic nature such as tho the canal of suez the thard railroad the east river bridge etc there can be no doubt that enormous deficits will soon make their unwelcome appearance but even in the case that the figure fiure 0 of de do lesseps ibe correct it is difficult to see what could induce the tile shareholders to bring so great sacrifices for such small profits the interests on the capital invested and the tile running expenses of the canal will necessitate an annual outlay of francs or about 78 millions inclusive of the contingent t to 0 be paid to the government of colombia on the other hand the tile receipts from the tonnage of the tile ves vessels sels patronizing ron izing the tile new route will not ri rise s C over 40 millions a year even at the most favorable calculation difficulties arc are in the tile way which may prove insurmountable obstacles even to the engineering genius of a de delesseps lesseps thus though at present the work appears to be prosecuted with sincere energy we greatly fear tear it will come to an abrupt on end sooner 0 or r later without tho the cordial operation cooperation co of tile united states england and france there is little if any better prospect for the shareholders than that they will see their investments sunk in the lagoons and carried away by the floods of the chagros river |