THE PANAMA CANAL INTEREST
M. da Lesaep'a enthusiasm and fame may blind the eyes of the humble French inveator, bat a cool calculation of the present position and proapeois of the Panama Canal would effectually keep English oapitalistß from advancing their money. Up to the present five millions sterling have been distributed as interest oat of capital, and the following figures worked out by the " Statist " show that, inclusive of the issue jußt projected, an annual payment ia involved of nearly two and a half millions sterling a year, with only a small earn of lesß than £200,000 a year from the railroad investment coming m : — » Annual Interest. Ordinary capital £305,000 Five per cent bonds 250,000 Three percent bonds... .., 360 000 Four per cent bonds 346, 0U0 Three per cent lottery, 1886 ... 600 000 Three per cent lottery, 1889... 600,030 £2,461,000 With the present system of ooatly finance acd the rate of progress of the work, the costs will amount to at least 120 millions sterling, and the company will have to earnjj twelve millions to cover working expenses, interest, and other charges, or about five tlmeß the amount earned by the Suez Oanal Company.
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Ashburton Guardian, Volume VII, Issue 1715, 21 November 1887, Page 3
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195THE PANAMA CANAL INTEREST Ashburton Guardian, Volume VII, Issue 1715, 21 November 1887, Page 3
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