Page 3 Advertisements Column 2

New Zealander, Volume 9, Issue 744, 1 June 1853, Page 3

A prospectus has jusl appeared of (lie “Atlantic and Pacific Junction Company,” whose object is to accomplish the great work that was first proposed more than a century and a half ago—namely, to cut a ship canal through the Isthmus of Panama. The projector of the enterprise is Sir Charles Fox, of the firm of Fox, Henderson, and Co. He first sent out an experienced engineer, whose report is so favourable that one is induced to wonder that the work has not been undertaken before. The distance between the u tidal influences of (he two oceans is only thirty miles, as the tide ascends a river on one side for eighteen miles. Ihe highest ground to he cut through is only 150 feet above the main level of Die two seas. Ihereis an excellent harbour at each proposed terminus. The material to he excavated consists of alluvial deposit, clay, gravel, and sandstone rock, the latter " lying most advantageously for removal ” The canal is to he 150 feel w ide, 50 feet deep, and without locks. The legislature of New Granada has granted 200,000 acres of land to facilitate the work. The capital required is 15,000,000/, of which two millions will ho employed in paying interest to the shareholders on their advances during the five years which the work will occupy. Ford Wharncliffe is chairman of the provisional committee, which comprises many eminent mercantile names. The Home News announces the resignation of Lord John Uusscll, and that the seals of the Foreign Office would be transferred to .Tend Clarendon. The announcement appears tohave been unfounded, and it is contradicted by other papers.