Inter Oceanic Canal Projects

Cover Inter Oceanic Canal Projects
Inter Oceanic Canal Projects
Walton W Evans
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0. CHANUTE. What proportion of the necessary capital will be raised in Europe, and how much do you propose to raise in this country ?
M. DE LESSEES. The original capital will be $120, 000, 000. One- quarter has to be paid up before a company can be formed under the French law. One-half of the capital stock will be allotted to the United States, and the other half to Europe. But in case it is not taken up by the United States I will try and have the sixty millions taken up in some other way. But
... I wish to have it understood that one-half the stock may be subscribed for in the United States, as the United States have an interest in the enterprise equal to all the rest of the world put together.
HORATIO ALLEN. Past President of the Society : I would like to ask a question, so that we may have a little clearer conception of the subject. I understand that the length of the canal from ocean to ocean will be forty-five miles ; that a certain portion of that canal will be a deep cut, and that a certain other portion will be ordinary canal work.


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