PANAMA V. SUEZ.

Dominion, Volume 5, Issue 1528, 26 August 1912, Page 5

PANAMA V. SUEZ.

COMPETING ROUTES TO THE EAST. •By Telccracli—Press Association—Copyright New York, August 23. Reports havo been received by tlio Stato Department 111 at (ho directorate of the •Suez Canal Company lias decided In roduco its rates in view of the approaching completion of the l'nnania Canal. Professor Emory Johnson, tlio Panama expert, states that if the Panama Canal is to bo a financial success (he tolls must be lower than those of the Suez Canal, Even lower tolls would not withdraw irom Sue/, the larger part of the Oriental trade, because the Suez Canal had greater trallic opportunities, and stood better in respect to the price of coal and other supplies. The Suez Canal reduction of tolls is announced as G. 25 francs. A CONTRADICTION. London, August 23. Tho American report that the lowering of tlio Suez Canal dues is by way of retaliation against tho Panama Canal i.? contradicted. The prospective lowering of tho rato has come about automatically. EFFECT ON AMERICAN SHIPPING. (Rec. August 25, 5.5 p.m.) New York, August 24. Mr. R. P. Scliwerin, vice-presidont of the Pacific Mail Steamship Company, declares that the Panama Canal liill will ivipo out tho last American lino from the Pacific, unless tradv with the Orient is developed sufficiently to compensate for tho loss of tonnage to tho Atlantic ports.