THE PANAMA CANAL.

Taranaki Daily News, Volume LV, Issue 153, 15 November 1912, Page 5

THE PANAMA CANAL.

THE RATES FIXED. NEW ZEALAND TRADE. By Cable —Press Association —Copyright. Received 14, 10.11 p.m. Washington, November 14.

President Taft has issued a proclamation fixing the Panama Canal tolls for merchant and passenger vessels at 1 dollar 20 cents per ton net actual carrying capacity, with a reduction of 40 per cent, on all ■ ships in ballast. The tariff for naval ships, excepting colliers, transports and hospital ships, has been fixed at 50 cents, per displacement ton, and the excepted vessels at 1 dollar 20 cents per ton net. The proclamation does not refer to the British protest. The rates are based on those likely to be enforced for the Suez Canal in 1913.

Professor Johnson's report on the Canal states that it will probably be selfsustaining by 1913. He recommends that the rate per net ton should be reduced after a decade. He expects the Canal to compete successfully for New Zealand trade, and anticipates that the foreign traffic for the first two years is not likely to exceed 9,000,000 tons, but that there will be '6O per cent, increase during the first decade. He does not expect that much Australian commerce will be diverted to Panama. President Taft expects that the economies effected on the voyage from the Eastern States to Australia and New Zealand will attract all the present traffic round Capetown.