PANAMA CANAL.

Taranaki Daily News, Volume LV, Issue 84, 26 August 1912, Page 5

PANAMA CANAL.

SUEZ v. PANAMA. SUEZ RATES REDUCED. By Cable.—Press Association—Copyright Washington, August 23. Reports have been received by the State Department that the directorate of the Suez Canal has decided to reduce rates. Professor Emory Johnson, the Panama expert, interviewed, said that if the Panama was to be a financial success the tolls must be lower than those ot the Suez Canal. Even with lower tolls the Canal could not withdraw from the Suez route the larger part of the Oriental trade, because the greater traffic of the Suez Canal gave opportunities tor reduction in the price of coal and other supplies. The reduction in dues for the Suez Canal is announced as 6.'25 francs. London, August 23. American reports that the lowering of the Suez Canal dues is in retaliation for the Panama Canal Bill are contradicted. The recent and the prospective lowering® were automatic.

WILL WIPE OUT PACIFIC LINE. Received 25, 5.5 p.m. New York, August 24. Mr. R. P. Schwerin, vice-president of the Pacific Mail Company, declares that the Panama Bill will wipe out the 1 last American line from the Pacific unless the trade of the Orient is developed sufficiently to compensate for the loss of tonnage to Atlantic ports.