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22 be expected. At the close of October 18094 the new company was definitely organ- ized, and _ exten- sions of the con- cessions were se- cured from the Colombian -- gov- ernment, through whose territory the canal passes. The new company was completely inde- pendent of the old company, and of its creditors. From the date when it was organized the new company re- sumed work on the canal and car- ried it on regular- ly until the Span- ish-American war broke out and put an entirely differ- ent political aspect upon the entire situation. WORKS EXECUTED BY THE NEW COMPANY. So far as. actual work to complete the canal proper is concerned, the new company concen- trated its efforts upon the excava- tion of the great cut through the continental divide, which is common- ly known under the name of the Culebra. There were various log- ical and judicious reasons for this course, In . any case, and under whatever plan may be adopted, this great cut,--con- cerning the execu- tion of which un- founded fables have been circu- lated, and much discussion has arisen carried even to the extent of disputing its prac- ticability, -- this great cut must constitute a defi-| nite part of the undertaking. One feature only admits of variation,--the depth of which it is to be carried. From every point of view it was certain that a great depth was necessary MARINE REVIEW The Future of Lake Ship Building. BY W. lL. BROWN, President of the American Ship Building Co. MR. W. LL. BROWN. on ten" AeA (eek Continnr Ce Lonncek Km xa 7 oa ee 7 < a Auk Z clint, A an n= bye wnt oA Oe eign GaN ree a bk blind FR (Ae. £o removed from the entire central cut by since it undertook the work was This was accomplished chiefly wi to secure' a Satis. § factory canal and q that the huge mass to be removed would exact qa much longer time than any excavya- tion on other por- tions .of the canal. The logical deduc- | | tion from these facts was that this wotk should be undertaken first, and carried © for- ward sufficiently to reduce the delay here to an equality with that else- where. Further- more it was pos- sible to excavate here. within these limits, without any risk of misapplied labor, and without prejudging the plan that should beultimatey adopted. These reasons j ust ified the action of the. new company in concentrating all its actual excava- tion upon this spe- cial locality, which by its importance dominates all oth- ers. The excava- tions carried on by the new company extended over about 5 miles, em- bracing the -- sec- tions of the Em- perador and_ the Culebra. The pho- tographic views exhibited in this issue give an exact idea of the organi- zation and_ prog- ress of the work at g point @342 miles from Colon, which is the higii- est point. of the continental divide, the bottom of the cut has attained a level of 148 above sea __level where the original height, measured jon the axis of the canal was 345 ft. The total volume the new company about 5,000,000 cubic yards th the plant received from