Annual report - Panama Canal Company, Canal Zone Government

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PANAMA

CANAL

COMPANY

CANAL

ZONE GOVERNMENT

ANNUAL REPORT

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FISCAL YEAR ENDED JUNE 30, 1968

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PANAMA CANAL COMPANY
Balboa Heights, C.Z.
OFFICE OF THE PRESIDENT

TO THE STOCKHOLDER OF THE PANAMA CANAL COMPANY:

It is my pleasure to present this review of another outstanding year of
Canal operations-a year marked by intense demands on the capabilities
of the entire staff. Surging demand for Canal services, given added
impulse by Vietnam and the Suez closure and characterized by increas-
ing transits of larger, specialized vessels, has tended to re-emphasize the
need for planned increases in Canal capacity.

Studies to this end were well under way by the end of the fiscal year.
These Canal capacity studies are aimed at rational improvements in
capacity programmed to ease restrictions when and where needed on
the basis of the greatest benefit at least cost.

Though not completed, the study is sufficiently well along to have
outlined a number of areas susceptible to improvement and programs
to that end are being analyzed as to their technical and economic
feasibility.

The essential goal now, as in the past, is a Canal capable of meeting
continuing challenge efficiently.

W. P. LEBER,
President.

CONTENTS

PANAMA CANAL COMPANY

INTRODUCTION
ORGANIZATION CHART
THE CANAL .
ORGANIZATION .
TOLLS RATES .
BOARD OF DIRECTORS AND GENERAL OFFICERS
HIGHLIGHTS OF OPERATIONS

CHAPTER I-CANAL TRAFFIC
TRAFFIC
COMMODITIES AND TRADE ROUTES
TRENDS

CHAPTER II-CANAL OPERATIONS
TRANSIT OPERATIONS
MAINTENANCE
CANAL PROJECTS

CHAPTER III-SUPPORTING OPERATIONS
EMPLOYEE SERVICES .
TRANSPORTATION AND PUBLIC UTILITIES
HOUSING .

CHAPTER IV-PERSONNEL
FORCE EMPLOYED AND RATES OF PAY
TRAINING AND EMPLOYMENT PROGRAMS

19
19
21

25
27

CHAPTER V-FINANCIAL REPORT AND STATISTICAL DATA
Financial Statements and Related Supplementary Reports

NARRATIVE STATEMENT
Financial Results
Equity of the U.S. Government

Faces pag

Page

ge 1

1
2
3
4

CONTENTS

Financial Tables
Page
TABLE 1.-Comparative Statement of Financial Condition 30
Notes pertaining to financial statements 30
TABLE 2.--Comparative Statement of Revenue and Expenses 33
TABLE 3.-Statement of Changes in Equity of the U.S. Government 33
TABLE 4.-Statement of Source and Application of Funds 34
TABLE 5.-Statement of Revenue and Operating Expenses 34
TFABLE 6.-Transit Operations-Statement of Revenue and Operating
Expenses .35
TABLE 7.-Supporting Services-Statement of Revenue and Operating
Expenses 36
TABLE 8.-Administrative and Other General Expenses 37
TABLE 9.-Inventories .38
TABLE 10.-Comparative Statement of Fixed Assets 40

Shipping Statistics

TABLE 11.--Ocean Traffic Through Panama Canal, Fiscal Years 1958-1968 42
TABLE 12.-Traffic by Months, Fiscal Years 1968 and 1967 43
TABLE 13.-Canal Traffic by Flag of Vessel 44
TABLE 14.-Classification of Canal Traffic by Type of Vessel 46
TABLE 15.-Laden and Ballast Traffic by Flag of Vessel 48
TABLE 16.-Frequency of Transits of Vessels Through Panama Canal 50
TABLE 17.-Segregation of Transits by Registered Gross Tonnage 52
TABLE 18.-Principal Commodities Shipped through Canal 54
'FABLE 19.-Origin and Destination of Cargo Through the Panama Canal
From Atlantic to Pacific Segregated by Countries in Principal
Trade Areas 58
TABLE 20.-Origin and Destination of Cargo Through the Panama Canal
From Pacific to Atlantic Segregated by Countries in Principal
Trade Areas 64
TFABLE 21.-Cargo Shipments by Trade Routes-Atlantic to Pacific 74
TABLE 22.-Cargo Shipments by Trade Routes-Pacific to Atlantic 77
TABLE 23.-Important Commodity Shipments Over Principal Trade Routes,
Atlantic to Pacific 82
TABLE 24.-Important Commodity Shipments Over Principal Trade Routes,
Pacific to Atlantic 105

CONTENTS

Other Statistics
Page
TABLE 25.-Water Supply and Usage 124
TABLE 26.-Dredging Operations 124
TABLE 27.-Electric Power Generated .125

CONTENTS

CANAL ZONE GOVERNMENT

Page
LETTER OF TRANSMITTAL .127
ORGANIZATION CHART 128
INTRODUCTION 129

CHAPTER I-GOVERNMENT ACTIVITIES

Health 131
Education 133
Police and Fire Protection 134
Miscellaneous Activities .137

CHAPTER II-FINANCIAL REPORT AND STATISTICAL DATA
Financial Statements and Related Supplementary Reports

NARRATIVE STATEMENT 139
Invested Capital 140
Capital Expenditures 140
Financial Results 141

TABLE 1.-Comparative Statement of Financial Condition 140
TABLE 2.-Statement of Changes in Equity of the U.S. Government 142
TABLE 3.-Statement of Operations 143
TABLE 4.-Comparative Statement of Fixed Assets 144

CHAPTER III-STATISTICAL TABLES

TABLE 5.-Hospital Occupancy 145
TABLE 6.-School Enrollment .. 146
TABLE 7.-Police Statistics 146
TABLE 8.-Fire Division Statistics 146
TABLE 9.-Postal Service Statistics 147
TABLE 10.-Customs Activities 147
Area of the Canal Zone 147

Digitized by the Internet Archive
in 2009 with funding from
University of Florida, George A. Smathers Libraries

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INTRODUCTION

THE CANAL
The Panama Canal is a lock-type canal approximately 51 miles long from
deep water to deep water. The minimum width in the dredged channel is
CO 'D O feet with the exception of approximately one and one-half miles in Gaillard
Cut which are currently being widened from the previous minimum of 300 feet
and which will be completed in 1969. Navigable channel depth varies
according to the amount of water available in Canal water storage areas.
The normal range of permissible transit draft is from 37 feet to 40 feet
with current Company planning aiming at future minimum levels of 39 feet
year around.
Vessels transiting the Canal are raised in three steps to the level of Gatun
Lake, the principal source of Canal water, then lowered to sea level again
in three steps. The three sets of Canal locks are paired which permits
simultaneous lockage of two vessels in the same direction or of two vessels
passing in opposite directions.
Since August of 1914, the official date of its opening, the Panama Canal
has served world trade virtually without interruption. Through this fiscal
year a total of 403,230 vessels of all types have transited with 321,457 or
79.7 percent of the total being of the ocean-going commercial class. The
additional role of the Canal in the service of the national interest during years
of war and strife from World War I through Vietnam is well documented
and incontestable.
ORGANIZATION
The Panama Canal Company is under the direction of a Board of Directors
appointed by the Secretary of the Army in his capacity as "Stockholder" and
representative of the President of the United States. Management is by a
career force comparable in selection and status to all personnel under U.S.
civil service as well as by military personnel (including the Governor, the
Lieutenant Governor and a number of other ranking positions) assigned to
the organization.
The basic mission of the Company is the efficient operation and maintenance
of the Panama Canal as well as the conduct of business-type activities inci-
dent to operations of the Canal and of the Canal Zone Government. The
Company and the Canal Zone Government, the independent agency of the
United States charged with the civil government of the Canal Zone, are
closely related in mission, organization and operations. Their combined
function is the administration of the Panama Canal enterprise as a whole.
The Governor of the Canal Zone, as appointed by the President of the United

INTRODUCTION

States, is responsible for the administration of the Canal Zone Government,
under the supervision of the Secretary of the Army, and is ex officio a
Director and President of the Company.
The Panama Canal Company is expected to: (a) recover all costs of operation
of its facilities, including depreciation, (b) pay interest to the U.S. Treasury
on the net direct investment of the U.S. Government in the Company, and
(c) reimburse the Treasury for annuity payments to the Republic of Panama
under the convention of 1903 as modified by the treaty of 1936 between the
two governments. In addition, the Company is obligated to pay into
the U.S. Treasury the net costs of the Canal Zone Government, including
depreciation.
Annually the Board of Directors is required to determine the Company's
working capital requirements together with anticipated expenditures for
authorized replacement and expansion of facilities. Funds in excess of the
required amounts alre to be returned to the Treasury as repayment of capital.
Funds other than working balances are carried with the U.S. Treasury.
Company activities are classified as transit operations or supporting
services. Transit operations cover functions directly related to the water-
way, the transiting of ships, and to services to shipping including channel
maintenance and locks operation. Sullpportin g services include vessel repairs,
harbor terminal operations, the railroad, the Company supply ship, motor
transportation facilities, storehouses, an electric power system, communica-
tion system, a water system, and many other services essential to employee
welfare such as retail stores, restaurants, and quarters.
TOLLS RATE
The rates of Canal tolls remained unchanged during the year. Tolls rates
are as follows:
(a) On merchant vessels, Army and Navy transports, tankers, hospital
ships, supply ships, and yachts when carrying passengers or cargo.: 90 cents
per net vessel-ton of 100 cubic feet of actual earning capacity. Such ton-
nage is determined in accordance with the "Rules for the Measurement of
Vessels for the Panama Canal;"
(b) On such vessels in ballast, without passengers or cargo: 72 cents per
net vessel-ton;
(c) On other floating craft: 50 cents per ton of displacement.
Tolls charges are at the same level as set on March 1, 1938. They are
lower than those charged prior to that date.

PANAMA CANAL COMPANY 3

BOARD OF DIRECTORS AND GENERAL OFFICERS

Board of Directors

Hon. STANLEY R. RESOR, Stockholder
Secretary of the Army

Hon. DAVID E. MCGIFFERT, Chairman of the Board
Under Secretary of the Army

Maj. Gen. W. P. LEBER, U.S. Army
Governor of the Canal Zone

Hon. DONALD G. AGGER, Department of Transportation

STEPHEN AILES, Steptoe and Johnson

Dr. JOHN C. ELAC, Institute for Latin American Integration

Hon. J. K. MANSFIELD, Department of State

ROBERT C. MITCHELL, First Federal Savings and Loan Association

Hon. COVEY T. OLIVER, Department of State

HOWARD C. PETERSEN, Fidelity Philadelphia Trust Company

Dr. CHARLES J. ZINN, Law Revision Counsel, Committee on
the Judiciary, House of Representatives.

General Officers

Hon. DAVID E. McGIFFERT, Chairman of the Board

Maj. Gen. W. P. LEBFe. USA, President

Col. H. R. PARFITT, USA, Vice President

PHILIP L. STEERS. Jr., Compfroller

W. M. WHITMAN, Secretary

INTRODUCTION

COMPARATIVE HIGHLIGHTS OF OPERATIONS
Fiscal year

Oceangoing transits:
Commercial -------____
Government----- ------
Free--------
Total --------

Daily Average_
Small transits:
Commercial- -
Government___
Free_____.
Total ----.

Total cargo:
Commercial ---
Government_
Free_-
Total- --- ..

1968
13,199
1,504
104
14,807

40.5

--- 571
---------- 121
12
------------- 704

- 96,558,522
8,497,265
-- 482,531
------------105,538,318

Total tolls and tolls credits:
Commercial .--__-.
Government ____- _
Total---- -- _

$83,943,461
9,211,220
$93,154,681

1967
12,412
879
94
13,385

36.7

570
101
14
685

86,207,511
6,147,565
642,882
92,997,958

$76,804,031
5,492,625
$82,296,656

Number of full-time Company employees (as of June 30):
Non-U.S. citizen -- _~__---
U.S. citizen---------- _____ __
Total Company employees _____
"Includes 120 SS Cristobal employees classified as full-time
intermittent employees for force ceiling purposes in 1968.

9,800 9,431
2,489 2,626*
12,289 12,057
in 1967 and considered to be

PANAMA CANAL COMPANY

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Chapter I

CANAL TRAFFIC

TRAFFIC
Panama Canal traffic rose dramatically during fiscal year 1968 to exceed
all previous records. Two dominant forces, the Vietnam war and the Suez
closure, have had a significant effect on all aspects of Canal traffic: transits,
cargo transited, and tolls.
Total oceangoing transists were 14,807, 10.6 percent above last year's
13,385. Of the total, 13,199 were commercial transits, 1,504 were U.S. Gov-
ernment and 104 were free Colombian and repair transits. Comparable
figures for fiscal 1967 were: commercial 12,412, U.S. Government 879, and
free 94 transits. Total transit of small vessels, which do not play an impor-
tant role in Canal traffic, were 704 compared to 685 in 1967.
A total of 105,538,318 long tons of cargo passed through the Canal in
1968, exceeding the 1967 level by 12,540,360 tons for an increase of 13.5
percent. Cargo carried in oceangoing vessels was 96,550,165 long tons
commercial, 8,497,221 tons U.S. Government and some 482,483 long tons
by the free category. The most impressive gain was a 38 percent increase
in U.S. Government cargo transited from the 6,147,479 long tons of 1967
followed by the 12 percent gain in commercial from the 86,193,430 of the
prior year. Cargo carried by free Colombian and repair transits declined
from 642,882 long tons by 25 percent. Total cargo carried by small vessels
transiting the Canal was negligible.
Total tolls and tolls credits also increased significantly (as did Panama
Canal net measurement tons, the basis for tolls) to $93,154,681 compared to
$82,296,638 in 1967 for a 13.2 percent increase. Oceangoing commercial
tolls were up $7,138,457 to $83,907,062; Government tolls credits rose by
$3,722,249 to $9,206,815. Tolls and tolls credits for small craft were $39,772.
A tabulation of the four principal features of occanioing traffic for the past
3 years is shown below:
Fiscal year
1968 1967 1966
Number of oceangoing transits -------_ 14,807 13,385 12,601
Panama Canal net measurement tons and
reconstructed displacement tonnage __ 107,950,650 95,354,709 83,401,495
Cargo (lnne tons)--___-_____--_-- 105,529,869 92,983,791 85,302.330
Total tolls and tolls credits-----___ - $93.113.877 $82,253.172 $72,541,348
Vietnam has affected traffic directly and indirectly. The direct impact is

CANAL TRAFFIC

PRINCIPAL COMMODITY GROUPS
TRANSITING THE CANAL
OCEAN GOING COMMERCIAL CARGO
FY 1968

PERCENT OF TOTAL CARGO

PETROLEUM 8 PRODUCTS

COAL 8 COKE

ORES & METALS

GRAINS

NITRATES, PHOSPHATES 8 POTASH

MISC. AGRICULTURAL COMMODITIES

LUMBER 8 PRODUCTS

MANUFACTURES OF IRON 8 STEEL

CANNED 8 REFRIGERATED FOODS

MISC. MINERALS

CHEMICALS 8 PETROCHEMICALS

MACHINERY 8 EQUIPMENT

0 2

=

10.21%

18.39 %

13.66 %

13.45%

8.37%

8".1%
I.2 %
6,25%

6.20%'

E a 3.93%

2.07 %

1.80%

8 10 12
(MILLIONS OF LONG TONS

14 16 18 20

Chort A

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PANAMA CANAL COMPANY

immediately noticeable in the sharp rise in Government traffic which, pre-
Vietnam, averaged something less than 300 transits, 1.4 million tons of cargo
and $1.6 million tolls credits annually. Another indication of the magnitude
of Vietnam is gained by comparing the 1,504 Government transits of 1968
to the 1,064 such transits at the peak of the Korean War. It is also significant
that vessels were, on average, 16 percent smaller during the Korean war period.
While sharply rising Government traffic directly reflects the heightened
level of involvement in Vietnam, increased oceangoing commercial traffic is also
indirectly a result of it. Offshore purchases by the Department of Defense,
military personnel and U.S. industrial spending in the Pacific basin has tended
to stimulate the economies of a number of countries that are important to the
Canal. principally Japan.
The second upward force on Canal traffic, the closure of the Suez Canal, has
affected both commercial and Government traffic. The impact of Suez, which
closed just prior to the beginning of the fiscal year and which to date has not
been reopened, was felt during the entire year and continues to be an active
force in Canal traffic. Principally affected have been vessels normally pl)ing
the route from various eastern European, Mediterranean and Black Sea ports
to the Far East which are now re-routing via the longer Panama Canal route.
In addition, U.S. Government vessels which previously transited Suez to
Vietnam have now been added to the Panama traffic pattern.
COMMODITIES AND TRADE ROUTES
A number of commodity groups have maintained relatively stable levels
of importance to Canal traffic in recent years, Chart A, page 8 shows the
groups as they stood in 1968 in descending order of importance. The groups
shown accounted for 94 percent of total oceangoing commercial cargo in 1968
and 92 percent in 1967. All commodity groups increased in volume in
1968 with the exception of chemicals and petro chemicals which remained
virtually unchanged.
The most significant change occurred in shipments of coal and coke which
rose sharply from 9.4 million long tons in 1967 to 13.2 million tons in 1968.
Coal movements which represent 99 percent of the total commodity group
were virtually all (98 percent) destined for Japan as coking coal for use by
the Japanese steel industry. Significant in the increase was some 752,000
long tons of coal out of Baltic Poland and Black Sea Russian ports to Japan-
shipments which would normally have been routed via the shorter Suez route.
Though the commodity group ores and metals showed only modest
improvement as a group, up 6.7 percent from the prior year, the individual
commodities comprising the group underwent some sharp changes. Greatly
reduced shipments of scrap metal to Japan, reflecting a decrease in imports
of scrap for the steelmaking process, were more than offset by major move-
ments of pig iron from European and Soviet ports to Japan re-routing through
Panama because of Suez. In 1967, the last month of which was affected
by Suez, some 351,000 long tons of iron metal moved along the Panama Canal
route while in 1968, 1.6 million tons were transited. The exact amount
accruing to the Panama Canal because of Suez can only be estimated, but

CANAL TRAFFIC

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PANAMA CANAL COMPANY

at least 1 million tons would appear to be a conservative estimate. Also in
the commodity group, reduced copper shipments were similarly offset by
increased movement of bauxite from Australia to the U.S. Virgin Islands.
Iron ore and pellets from the West Coast of South America to Europe and
the United States continued the downward trend as shipments dropped to
3.1 million tons from 3.9 million tons in 1967; such shipments represented
97 percent of total iron ore and pellets in 1967 and virtually 100 percent
in 1968.
Still the number one commodity group in Canal traffic, petroleum and
products rose 5.7 percent to 17.6 million long tons in 1968 from the 16.8
million tons in 1967. Crude oil shipments, which represented 30 percent of
the group, increased in 1968 by 11.6 percent with most of the increase
accruing in Venezuelan shipments to Ecuador and Peru which served to offset
declining crude shipments from Venezuela to the West Coast of the United
States. Other commodities within the group such as kerosene and jet fuel
and diesel and fuel oil were up moderately while gasoline shipments declined
by some 250,000 tons reflecting Department of the Interior restrictions on
imports from Puerto Rico to the West Coast of the United States which took
effect about the middle of 1968.
One salient characteristic of 1968 commodity movements has been the
continuation of the trend toward extreme concentration of shipments to
specific areas and countries of the world. As Chart B, page 10 indicates Asia
is now responsible for approximately 48 percent of cargo through the Canal
on the basis of origin and destination. Further, a single country Japan, con-
tinued its rise in the ranks of Canal customers to a level of 39 percent of
total oceangoing commercial cargo on the same basis. In part Vietnam and
Suez have accounted for the extremely sharp rise of 1968, but a review of
Chart B and the data from 1947 indicates the continuous upward trend.
Nine major trade routes in Canal traffic are shown in tabular form in the
following table with a comparison of their importance in 1967 and 1968. Two
routes showing the sharpest rise in cargo movement, East Coast United States-
Asia and West Indies-Asia, further demonstrate the tendency of the traffic to
the Far East. A third sharply rising route Europe-Oceania would appear to
be at least partially due to the Suez closure as European shipments to Australia,
the bulk of which normally go via the Suez route, shifted to Panama.

CANAL TRAFFIC

MAJOR TRADE ROUTES IN CANAL TRAFFIC

Trade route
East Coast United States-Asia ---------------
Europe-West Coast United States, Hawaii, and C
East Coast United States-West Coast South Amei
Europe-West Coast South America-------------
U.S. Intercoastal (including Alaska and Hawaii)_
South America Intercoastal ---... -----------..
West Indies-Asia-......----.... ---- --------
Europe-Oceania ------.----------.---.. ...-..
Europe-Asia -------. ....-------- ..--....-.
Subtotal---.....- --. ------... -. -----
All other routes .------------... ... _.........
Total .....----------

Fiscal year
(in thousands of tons)

1968 1967
Panama Panama
Canal Long Canal Long
net tons net tons
tons cargo tons cargo
---.----- 30,249 34,691 25,085 29,742
anada .-------. 7,870 7,481 7,321 6,916
rica ---------- 8,382 6,778 9,680 7,867
--------- 7,603 5,901 7,425 5,754
------.-- 4,306 4,678 5,065 5,273
----.---- 2,812 3,498 2,144 3,163
2,166 2,618 2,022 2,001
--.------ 3,524 2,752 3,075 2,184
------------ 3,582 4,642 1,030 1,075
---..---- 70,494 73,039 62,847 63,975
--------- 25,994 23,511 25,419 22,218
----.-..- 96,488 96,550 88,266 86,193

TRENDS

The high traffic level of 1968, and to a lesser degree the levels of 1966 and
1967, was largely a reflection of one or both of two unrelated political events
and was only in part influenced by economic secular trends. Concurrent
with any effective settlement of the conflict in either or both of the problem
areas, Vietnam and Suez, will be a beginning of lowering demand for Canal
services generated by the conflicts. The timing, depth and sequence of
reductions in such demand will be dictated by the nature and timing of
the settlement.
If, as anticipated, settlements are achieved in both Vietnam and Suez within
the next several years there should be a significant short-term drop in cargo
transited and a leveling out effect on tolls and transits until longer term growth
again offsets the temporary decline. Neither tolls nor transits will drop
in proportion to the reduced cargo volume since excess shipping capacity
should result in about the same number of ships carrying less cargo. This
lower load factor combining with the somewhat larger ships expected to ply
the Canal routes should serve to stabilize tolls over the recovery from any
reduction of Vietnam activity and the re-opening of Suez.
Over the long term all studies show nothing but growth in most aspects
of Canal traffic.

Percent in-
crease or
(decrease)

Panama
Canal
net
tons
20.6
7.5
(13.4)
2.4
(15.0
31.2
7.1
14.6
247.8
12.2
10.2
9.3

Long
tons
cargo
16.6
8.2
(13.8)
2.6
(11.3)
10.6
30.8
26.0
331.8
14.2
5.8
12.0

Chapter II

CANAL OPERATIONS

Canal operations may be grouped according to basic functions as transit
operations, maintenance, and special projects. These functions are not mutually
exclusive and are the responsibility of several bureaus within the Canal agency.
TRANSIT OPERATIONS
Transit operations during fiscal 1968 involved the largest number of ocean-
going vessels ever handled through the Panama Canal. Not only did the
14,807 transits represent an increase of 10.6 percent over 1967 traffic, but
the transiting ships were, on average, some 2.3 percent larger as measured in
Panama Canal net tons. Ship beam size provides another basic indicator of
transit workload. In 1968, 1,593 transiting ships were in the 80 foot and
over beam class compared to 1,309 in 1967, and 260 vessels were 100 foot
beam and over versus 232 in 1967. In addition, more large vessels transited
at deeper draft than ever before with 1,160 ships drawing 34 or more feet
while only 900 such deep draft transits were registered in 1967.
The basic significance of larger, beamier, deeper draft ships transiting in
greater number is the increased handling time necessary as well as the higher
levels of coordination of operations and personnel skills required. Large,
deeply laden vessels require more tugboat assistance, are more difficult to
con through the Canal, take longer and require more careful handling
approaching the locks and locking through, and always present a greater
handling risk sometimes compounded by the type of cargo carried such as
highly volatile aviation gasoline. During 1968 large ship transits were made
somewhat more difficult because of continuing excavation in the remaining
narrow reaches of Gaillard Cut.
A new record in daily transits was established in February 1968 when
65 oceangoing vessels transited in a 24-hour period, reflecting the working
off of a backlog of ships awaiting transit due to the Shozan Maru incident
discussed below. In addition, a new sustained high traffic level was set
during April 21 through the 29 when 428 oceangoing ships transited for
a daily average of 47.6 transits, as heavier than usual workloads coincided
with routine locks overhaul creating a temporary backlog. Time spent by
vessels in Canal Zone waters, excluding time spent for their own account,
was an average of 18 hours per transit compared to the 14-hour average
during 1967. The number of ships spending more than 24 hours in Canal
Zone waters reached 3,110 or 21 percent of the total.

CANAL OPERATIONS

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Two major accidents occurred in 1968 one of which could have had very
serious consequences if it had not been handled rapidly and efficaciously.
On February 25, the Shozan Maru laden with iron ore sheered and struck the
east bank in Gaillard Cut holing the vessel and causing it to sink in the Cut
channel. Though damage to the Shozan Maru was serious, the possible conse-
quences to world shipping of a Canal closed to transit for any length of time far
outweighed the immediate damage to the ship. That the channel was closed
only 18 hours and 20 minutes is a genuine tribute to the capabilities of the
work force of the Panama Canal which succeeded in refloating the vessel
using air pumped into the hull and removing it from the Cut. A second
accident which did not affect Canal traffic occurred when the Oriana struck
the bank in Bohio reach causing damage and delay losses in excess of $1 million.
MAINTENANCE
The Panama Canal, now in its second half century of operation, has required
constant maintenance, design improvements and structural up-grading without
which the-Canal could not have fulfilled its task over the ears. Such
basically routine functions as channel dredging, maintenance of channel
markers and locks overhauls were accomplished in 1968 with the same high
level of competence as in past years.
Approximately 1.5 million cubic yards of earth and rock were dredged from
the Canal channel, the Pacific and Atlantic entrances and from various harbor
areas in regular maintenance dredging programs. In addition, considerable
dredging was completed under special programs and some emergency removal
became necessary during the year because of material moving into the channel
due to construction blasting.
Some 2,500 navigational aids located in the channel and its approaches
were in service and were maintained during 1968. The total includes the
electrically operated fluorescent luminaries which comprise the Gaillard Cut
lighting system and the Gatun and Miraflores locks approach lighting. The
magnitude of the job can be appreciated when it is recalled that the fully
marked Canal channel from breakwater to breakwater is over 50 miles long.
The methods used for Locks Maintenance, a vital part of maintaining an
efficient Canal, have been constantly improved over the vears. The overhaul
of Gatun Locks during the 1968 dry season utilized a system in use since 1961
marking the last year in which that particular system will be used. The over-
haul was accomplished in four stages, each requiring approximately 20 days
of lane outage causing a moderate backlog of ships waiting to transit. Future
major overhauls will reduce lane outage time to 6 days or less which, in view
of ever rising transits \will be not only desirable but necessary to continued
efficient performance.
It is easy to slide over or dismiss maintenance as "routine" especially when
more dramatic aspects of Canal operations are considered, but it is well to
remember that the net value of the Panama Canal Company property, plant
and equipment is almost $500 million, and that maintenance and improvement
of fixed plant are the backbone of the organization.

CANAL PROJECTS
All Canal improvements projects are designed to either enhance capacity
or safety or both. Current studies to improve the Canal were begun in 1967

16 CANAL OPERATIONS

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PANAMA CANAL COMPANY

as an extension of previous studies and continued through the fiscal N eanr just
past. Considerable time and effort were expended during the year running
Canal capacity studies at the three locks sites, feeding the data into computers
for simulation tests and selecting, testing, accepting or rejecting a variety of
proposals for improvement. Though studies are not yet complete a number
of promising areas for real improvement have been outlined as possible
future projects.
One project currently under way and scheduled for completion in 1969 is
the widening of Gaillard Cut to a full 500 feet along its entire length. This
project, a result of prior studies, is only one and one half miles from completion
and when completed will provide a decidedly safer channel than before.
A potentially dangerous situation developed during 1968 which required
immediate emergency action. During April a pattern of large ground cracks
extending 1,200 feet along the slope of the Canal on the west side of Culebra
reach in Gaillard Cut were discovered. An immediate full scale investigation
was initiated in order to determine the geologic structure of the mass in
motion, its cubic magnitude, and the rate of surface motion. Field inspection
showed that to a lesser degree the cracks extended 2,800 feet farther north
for a total distance of 4,000 feet involving most of the west bank of Culebra
reach. An extensive surface and subsurface field monitoring system was put
into action and the adjacent channel was put under 24-hour surveillance.
Lime slurry was placed in cracks at strategic locations, diversion ditches were
dug, and sandbag revetments were put in rock areas in order to divert rainfall
from the cracks. Action taken during 1968 was essentially of an emergency
nature while any permanent changes such as grading back would have to
await the 1969 dry season.

CANAL OPERATIONS

Chapter III

SUPPORTING OPERATIONS

Panama Canal support operations are in the long run as vital to the smooth
working of the organization as any of the other activities within the agency.
In most cases support operations perform a dual role as direct backup to
Company/Government operations and indirectly via the provision of em-
ployee services which ultimately redound to the organization's benefit. For
convenience of discussion the operations are grouped under: Employee
Services, Transportation and Public Utilities, and Housing.
EMPLOYEE SERVICES
Employee services include the provision of retail stores, service centers,
theatres, and various other recreational facilities.
The retail stores in the Canal Zone are combination stores operated by the
Panama Canal Company and are located in all major Canal Zone commu-
nities. Various supplies for home and personal use are stocked including
food items, clothing, furniture, and other products such as would be found
in similar retail outlets in the United States. With some exceptions prices
during the year were maintained roughly on a par with prices of a private
retail chain located in New Orleans, the site of Panama Canal Company
procurement.
In 1968 total marketing operations grossed approximately $26.8 million,
or $1.8 million over the previous year. Though the Canal Zone population
has been relatively stable over the years and total sales at retail have reflected
this stability, some gro\%th has occurred and wage increases of recent years
have resulted in higher sales as employees have upgraded their purchases.
An additional and considerable part of the increase has, of course, been the
result of inflation ke\ ed to U.S. price increases as well as autonomous Canal
Zone increases designed to cover higher wage costs. Prices of food items
rose some 3 percent, apparel approximately 5.5 percent, personal care items
some 4 percent, and all items rose approximately 7 percent during the year.
TRANSPORTATION AND PUBLIC UTILITIES
The operations of harbor terminals, the railroad, and motor and water
transportation facilities are managed by the Transportation and Terminals
Bureau.
Basically, terminals operations involve the handling of general cargo and
petroleum shipments for the Canal Zone, the Republic of Panama, and in

SUPPORTING OPERATIONS

and out shipments that are dropped at the piers for transshipment. The
cargo tonnage workload handled, transferred, and stevedored during 1968
declined some 86,000 tons to 2,361,000 from 2,447,000 tons in 1967. The
decline was primarily due to the competition of a private Panamanian steve-
doring firm which began its operation in May of 1967, and secondarily to
the diversion of some roll-on roll-off cargo to Las Minas Bay, Panama, since
handling facilities for this type of cargo do not exist in the Canal Zone.
Marine bunkering operations increased substantially in 1968 over the prior
year with 61.5 million barrels passing through Panama Canal Company
facilities this year versus 48.3 million previously. The increase is largely
due to higher Canal traffic, high ocean freight rates and the convenience and
apparent price attractiveness of bunkering in the Canal area when transiting.
All bunker fuel sold is by private firms with the only return to the Panama
Canal Company being for the use of storage and handling facilities.
Operations of the Panama Railroad reached new highs during 1968 as
freight tonnage of 209,414 tons and passenger travel of 836,192 travelers
exceeded the previous year by 6 and 13 percent respectively. The increased
number of passengers carried is especially noteworthy as it was the first time
in over 25 years that more than 800,000 persons traveled on the railroad
during any single year. The freight load of 209,414 tons was also a record
breaker. It has been over two decades since the railroad carried more than
200,000 tons of freight, the last time being just prior to the opening of the
competitive Trans-Isthmian Highway to full commercial use.
Motor Transportation comprises a vehicle fleet of 720 and consolidated
repair shops and garages on both sides of the Isthmus. In addition, the
franchised public bus transportation system operating in the Canal Zone is
supervised by the Motor Transportation Division. Total vehicle mileage by
the fleet was 8.7 million miles in 1968 as compared to 7.7 million in 1967.
Transportation services income, including cost transfers, increased to $2.7
million from $2.5 million in the previous year. Vehicle use includes: the
transportation of Company/Government employees on official business, the
moving of heavy construction equipment to on site locations, the hauling of
petroleum products for power generation, and the bussing of school children.
The Panama Canal also owns and operates an oceangoing steamship, the
SS Cristobal, which operates as a combination passenger-cargo vessel between
the Canal Zone port of Cristobal and New Orleans. The vessel makes a
scheduled 27 round trip voyages annually. Passengers carried in 1968 were
up slightly to 6,200 from the 6,100 of 1967. Freight carried declined by
2 percent during the year, while operating expenses increased substantially
in 1968 reflecting increased New Orleans handling costs as well as increased
crew wages and benefits. These costs were partially offset by increased
freight rates, but the over-all operating deficit was still $107,000 compared
to $162,000 in 1967 of which $89,000 was a special non-recurring item.
Public utilities services are provided by a number of Canal Company
organizations not only to the Company/Government and their employees and
dependents, but to the military and other Government agencies, private
organizations and firms, and others in the Canal Zone. The system is inter-
connected with a private power system in the Republic of Panama and some
power is interchanged.

PANAMA CANAL COMPANY

Electric power requirements increased in 1968, as they have in all recent
years. The peak load reached during the year was 95,400 kilowatts compared
to the previous high of 92,100 kilowatts during 1967. Total gross power
generated by Company hydroelectric and thermal generating units and
purchases of power from commercial and military sources totaled 622,252,800
kilowatt hours during the year. In order to temporarily ease the power
shortage problem, the Company leased late in 1968 the floating nuclear
power plant Sturgis which will add 10 megawatts to plant. A partial,
longer-term solution will be the construction by the Military of a 33-megawatt
plant at the Miraflores plant site to meet added military requirements, and
another possible long-term solution is to be offered by the construction of a
power plant in the Republic of Panama for partial use by the Company/
Government on a contract basis. This installation will, in conjunction with
the military plant, provide sufficient extra capacity to meet emergency
demands as well as day-to-day operational demands.
With the assistance of private consulting engineers, specifications were
prepared and bids invited during 1968 for the replacement of the Balboa and
Pedro Miguel telephone exchanges. A complete new telephone system for
the entire Canal Zone was considered, but only the most critically needed
segments of the system will be replaced at this time. The new exchanges
should be in operation during 1970.
Filtered water production increased during the vear to meet the additional
demand from the Republic of Panama as well as the Canal Zone. It is now
estimated that plant capacity will be reached during 1969 and the Govern-
ment of Panama has been so advised and is taking the steps necessary to
alleviate the problem. A 56 million gallon per day plant is being planned
to serve Panama City and surrounding areas, using the Madden reservoir as
a source of raw water.
HOUSING
The provision of adequate housing has been a chronic problem in the
Canal Zone. A brief study made by representatives of the Federal Housing
Administration in 1968 at Company request confirmed that at least 862 U.S.
housing units, or approximately one third of the total, are ". . undesirable
or substandard as compared to what an American family in a similar income
group would prefer, if acting intelligently and well informed in a free rental
market." The average age of Company U.S. citizen housing is approximately
25 years with no new houses having been built in the last 5 years. Though
age per se is not an indication of quality, a large part of Company housing
was built of wood in a tropical environment not suitable to wood frame
construction, built during the Depression or World War II according to the
restrictive standards of those two hardship periods, and in many cases was
built along construction camp lines for supposedly temporary use.
Inadequate housing is now deemed to be a basic reason for many' U.S.
hire employees leaving the Company/Government after expiration of the
initial 2 year contract. The high turnover rate especially applies to the
professional category individual. Data covering U.S. citizen family housing
is shown in the table below:

SUPPORTING OPERATIONS

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U.S. CITIZEN FAMILY HOUSING

Total family units-----------------
Occupied---------------------------
Vacant --------------------
Families in bachelor units-----------
Vacancy factor ----------------------
Family in leased apartments in R. P.---------

June 30, 1968 June 30, 1967
2,506 2,507
2,418 2,404
88 103
100 82
3.5 4.1
34 33

Chapter IV

PERSONNEL'

The Personnel Bureau of the Panama Canal Company administers and
manages a variety of functions for, in 1968, 16,094 employees of the Company
and the Canal Zone Government. Its functions are performed within the
framework of laws, executive orders, and regulations applicable to Federal
employees generally, together with applicable provisions of the Canal Zone
code and regulations of the President of the United States and the Secretary
of the Army relating to employees of Government agencies in the Canal Zone,
and the bylaws of the Panama Canal Company.

FORCE EMPLOYED AND RATES OF PAY
The total civilian force of the Company/Government in the Canal Zone
as of June 30, 1968, was 15,893 as compared to 15,282 as of the same date
in 1967; the increase of 611 persons represents an approximate 4 percent gain.
In addition to the Canal Zone force there were 157 employees in the United
States (4 in Washington, 29 in New Orleans, and 124 officers and crew of
the SS Cristobal), 10 in the Republic of Panama and 34 military employees
located in the Canal Zone not included in the figures above. The work
force of the Company/Government organization in the Canal Zone is composed
of 74 percent Non-U.S. citizens (predominantly Panamanian) and 26 percent
U.S. citizens.
A comparative tabulation of the Company/Government full-time force is
shown below by citizenship and by wage base:
Fiscal Year 1968 Fiscal Year 1967
U.S. Non-U.S. U.S. Non-U.S.
Citizen Citizen Citizen Citizen
U.S. Wage Base:
Panama Canal Company --- -_- 2,251 948 2,401 891
Canal Zone Government ------- 1,504 478 1,363 434
3,755 1,426 3,764 1,325
Canal Zone Wage Base:
Panama Canal Company .---- 238 8,852 225 8,540
Canal Zone Government ___-- 54 1,046 137 1,057
292 9,898 362 9,597
Total Full-time Force ----__- 4,047 11,324 4,126 10,922
I Includes both Panama Canal Company and Canal Zone Government personnel.

26 PERSONNEL

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PANAMA CANAL COMPANY

Rates of pay are established on a Canal Zone wage base for occupational
categories which can be filled by recruitment on the Isthmus and on a U.S.
wage base for those positions which would normally be filled by recruitment
from the United States. Up until the mid 1950's only citizens of the United
States were eligible for employment in executive, supervisory, professional,
subprofessional, and clerical positions. Since that time, however, progress
has been made in employing non-U.S. citizens, primarily Panamanian, in
positions of responsibility and at a higher U.S. rate of pay. In addition, rates
of pay to non-U.S. citizens on the Canal Zone wage base have recently tended
to increase at a faster rate than that of U.S. citizens.

TRAINING AND EMPLOYMENT PROGRAMS
There are a number of Company training and employment programs
designed, to improve the organization's hiring position. In 1968, as in all
recent prior years, U.S. recruitment of qualified employees has been severely
handicapped. Housing which is a prerequisite to States hiring is, and has
been, inadequate for a number of years. Further, high levels of employment
in the States coupled with reduced financial incentives to work in the Canal
Zone, have reduced the U.S. employee pool available to the Canal.
Increasingly the Company has turned to the Panamanian labor market
for its skilled employee needs, and accordingly major emphasis throughout
1968 continued to be centered on increased utilization of locally available
applicants, particularly citizens of the Republic of Panama, both through
emphasis on direct recruitment and on special training programs. Of special
significance have been the Floating Equipment Training Programs which were
authorized in April of 1968 in order to utilize locally available U.S. and
non-U.S. citizen in-service personnel for filling of floating equipment positions
of tugboat masters and mates and dredge mates and engineers. Of 42
screened applicants for the positions 14 were non-U.S. citizens.
Another important activity has been the work of the Special Placement
Branch established to aid in the search for and placement of qualified Pan-
amanians in positions of responsibility in the Company/Government. Con-
siderable progress was made in this area during 1968 as is shown in Chart C,
page 26, showing the increasing number of Panamanian citizens in U.S. wage
base positions in terms of percent of the total number of U.S. wage positions
in the Company/Government. The basic idea is to locate and employ
professional and subprofessional persons at the U.S. wage base in order to
substitute local hire for U.S. recruitment.
To help smooth the way for easier entry to Company/Government jobs at
all levels the number of "security" positions required for continuity of oper-
ations was reduced in many occupational categories. At the close of 1968
only two occupational groups, Canal Zone pilots and customs guards and
inspectors, remain as total security position groups. All other occupations
are now made up of various combinations of security and non security
positions, thus partly eliminating the former restrictions on employment of
Panamanians in these occupations. Further progress in this area will be the
aim in future years.

Chapter V

FINANCIAL REPORT AND
STATISTICAL DATA

FINANCIAL STATEMENTS AND RELATED SUPPLEMENTARY
REPORTS FOR THE YEAR ENDED JUNE 30, 1968
The financial statements of the Panama Canal Company appearing as
tables 1 through 10, with the accompanying notes, present the financial posi-
tion of the Company at June 30, 1968, and the financial results of its operations
for the fiscal year then ended.
All statements have been examined by the General Auditor of the Panama
Canal Company and are subject to audit by the General Accounting Office.
Detailed audit reports of the General Accounting Office are directed to the
Congress and are presented as congressional documents.
Summary information concerning operating results, net direct investment
of the U.S. Government and retained revenue, and capital expenditures follows:
Financial Results
Net revenue for fiscal year 1968 amounted to $11.4 million after interest
payments of $12 million and net cost of Canal Zone Government of $22.5
million. Corresponding net revenue for fiscal year 1967 amounted to $13.1
million after payments of $12.2 million and $21.7 million for interest and net
cost of Canal Zone Government, respectively.
Equity of the U.S. Government
The interest-bearing net direct investment of the U.S. Government in the
Panama Canal Company was reduced $10 million during the year as the
result of a capital repayment on December 8, 1967.
Capital Expenditures
Capital expenditures amounted to $13.7 million for the year as compared
to $8.4 million for the preceding fiscal year. The budgeted estimate for
the year was $15.1 million. The largest expenditure, amounting to $5.9
million, was for widening Las Cascadas-Bas Obispo Reaches and the second
largest expenditure, amounting to $1.2 million, was for the purchase of
two tugboats.

FINANCIAL REPORT AND STATISTICAL DATA

Table 1.-Comparative Statement of Financial

Assets
CURRENT ASSETS:
Fund balances with U.S. Treasury and cash:
Fund balance in U.S. Treasury checking
account--------------------
Cash in commercial banks, on hand, and in
transit_-------- -.---.-- .

Accounts receivable:
Canal Zone Government
Government agencies-
Republic of Panama -
Other --------

and other U.S.

Inventories (note 1):
Materials and supplies ----
Merchandise held for sale-- ---. -

Other current assets -----

Total current assets ... __
FIXED ASSETS (note 2):
Cost_____---------------
Less depreciation and valuation allowances

DEFERRED CHARGES:
Relief payments to former employees-
Other----- -----------------

1968

$25,321,852

2,123,755

27,445,607

1,634,965
2,835,970
3,177,784

7,648,719

8,440,820
4,466,057

12,906,877

214,623

48,215,826

710,894,935
220,797,347

490,097,588

10,292,000
441,003
10,733,003
$549,046,417

1967

$17,358,927

5,946,271

23,305,198

4,237,822
2,597,227
2,687,788

9,522,837

7,771,086
4,384,942

12,156,028

135,611

45,119,674

698,303,629
214,254,611

484,049,018

8,554,000
566,669
9,120,669
$538,289,361

NOTES TO FINANCIAL STATEMENTS

1. Inventories. Inventories of operating materials and supplies are stated
principally at standard cost. Inventories of merchandise for sale in ware-
houses are stated at average cost on a line item basis; and inventories of
merchandise for sale in retail outlets are stated at average cost using the
retail method for valuation.
2. Fixed assets. Fixed assets generally are stated at cost or, if acquired
from another Government agency, at original cost to such agency. Valuation
allowances have been established in accordance with sections 62 and 412 of

PANAMA CANAL COMPANY

Condition June 30, 1968 and 1967

Liabilities and Equity
CURRENT LIABILITIES:
Accounts payable:
U.S. Government agencies _____------
Other----------------- -------. -

Due U.S. Treasury --------- ---
Accrued liabilities:
Employees' leave--------------
Salaries and wages---__ --------
Relief payments to former employees -
Claims for damages to vessels -------. .
Employees' repatriation ------
Other --------- --------

Other current liabilities ----------

Total current liabilities ------- --

LONG-TERM LIABILITIES:
Relief payments to former employees ____
Employees' repatriation__-- ------

RESERVES:
Stabilization of canal slides _-----
Overhaul of canal locks _____ .------------

EQUITY OF U.S. GOVERNMENT (note 3):
Net direct investment:
Interest-bearing _-_ --. -----. -----
Non-interest-bearing __-----_-_--- -_-..--
Retained revenue, non-interest-bearing -- --..

The accompanying "Notes to Financial Statements" are an

1968

$1,783,914
3,165,695

4,949,609

427,195

12,229,848
2,589,956
1,328,000
3,391,587
496,375
3,448,811

23,484,577

826,260

29,687,641

8,964,000
4,490,025

13,454,025

5,000,000
636,483

5,636,483

321,736,896
18,051,630
160,479,742

500,268,268

$549,046,417

integral part of tl

1967

$2,329,423
3,691.953

6,021,376

1,156,585

11,570,864
1,704,835
1,460,000
971,144
627,000
3,038,864

19,372,707

781,555

27,332,223

7,094,000
4,426,000

11,520,000

566,992
566,992

331,759,383
18,051,630
149,059,133

498,870,146
$538,289,361

is statement.

title 2 of the Canal Zone Code (1) to offset the cost of defense facilities and
suspended construction projects-principally the partial construction of a third
sets of locks abandoned in the early part of World War II-totaling $82.7
million (both the cost and valuation allowances have been excluded from the
statement of financial condition) and interest during original construction
aggregating about $51 million and (2) to reduce to usable value the cost of
those fixed assets transferred to the Company from The Panama Canal (agency)
at July 1, 1951. Because of historical practice and a construing of the Canal
Zone Code as not requiring the depreciation or amortization of certain assets,
depreciation or amortization allowances have not been provided on titles,

FINANCIAL REPORT AND STATISTICAL DATA

treaty rights, and excavation of channels, harbors, basins, and other works
costing about $317 million. If these assets were depreciated at the rate of
1 percent per annum, there would be an annual charge against operations of
approximately $3.2 million. Depreciation allowances on all other fixed assets
are accumulated on a straight-line basis.

3. Equity of the U.S. Government. The net direct interest-bearing
investment was established in accordance with section 62 of title 2 of the
Canal Zone Code. Interest thereon is paid at a rate established annually by
the Secretary of the Treasury. The rates for 1968 and 1967 were, respec-
tively, 3.668 and 3.655 percent. The net direct non-interest-bearing invest-
ment consists of the costs of the Thatcher Ferry Bridge constructed in accord-
ance with the Act of July 23, 1956 (70 Stat. 596). The Act of August 25,
1959 (73 Stat. 428) amended section 71 of Title 2 of the Canal Zone Code
to provide the Company with authority to borrow funds from the U.S. Treasury
not to exceed $10 million outstanding at any time at interest rates to be
determined by the Secretary of the Treasury.

4. Contigcnl and other liabilities. The Company is contingently liable
with respect to certain pending suits and claims. In addition, the Company
has outstanding at all times certain liabilities of indeterminable amounts,
which are recognized in the accounts on an as-paid basis. These liabilities
include, principally, commitments for construction work, supplies and services,
and death and disability benefits payable under provisions of the Federal
Employees' Compensation Act. The maximum liability which could result
from outstanding claims and lawsuits is estimated to be $4.3 million exclusive
of claims that may arise as a result of a bus/train collision that occurred
subsequent to June 30, 1968, the cost of which is not determinable at this
time. Commitments under uncompleted construction contracts and unfilled
purchase orders amounted to about $7.9 million at June 30, 1968. The
Company held at June 30, 1968, negotiable U.S. Government securities and
Republic of Panama securities in the face amount of $2,515,000 deposited by
customers and Panamanian insurance firms to guarantee contract performance
and pa 1)nnt of tolls and other charges and, on behalf of the Canal Zone
Government, negotiable securities in the face amount of $633,000 to guarantee
payment of possible judgments against insurance companies operating in the
Canal Zone.

PANAMA CANAL COMPANY

Table 2.-Comparative Statement of Revenue and Expenses,
Fiscal Years Ended June 30, 1968 and 1967

REVENUE:
Tolls_-------__-----------------------
Credit for tolls on U.S. Government vessels ----
Commodities sold----------------
Service sales and rentals -__-----

OPERATING EXPENSES AND OTHER COSTS:
Payroll and related costs ---------
Material and other operating expenses -----_-
Cost of commodities sold --------
Provision for stabilization of slide hazards. --
Locks overhaul accrual -_---
Damage to vessels -------------
Depreciation-------- ----
Net cost of Canal Zone Government----
Interest on net direct investment of U.S. Govern-
ment-------------------- ---------

Less payroll and other costs transferred to Com-
pany capital projects and Canal Zone Govern-
ment programs--------
Total operating expenses and other costs ...
NET REVENUE _. __------

1968
$83,943,461
9,211,220
26,524,041
40,770,461

160,449,183

75,835,777
10,190,357
18,240,402
5,000,000
2,920,969
2,596,653
7,269,301
22,536,947

11,983,947

156,574,353

7,545,779
149,028,574
$11,420,609

1967
$76,804,031
5,492,625
24,607,878
37,994,969

144,899,503

68,782,510
8,094,910
17,239,832

871,897
225,386
6,868,623
21,692,425

12,207,079

135,982,662

4,141,554
131,841,108
$13,058,395

Table 3.-Statement of Changes in Equity of the United States Government,
Fiscal Year Ended June 30, 1968

EQUITY AT JULY, 1 1967.-_- -.-__---------
Additions:
Net revenue -_ _____-------------
Transfers from other U.S. Government
agencies:
Vessel Q-612 (renamed Anayansi),
from the Department of the Army--
Adjust value of Building 82, Coco Solo,
previously transferred from the U.S.
Navy_____ _______ _____
Reactivation of plant:
Building 1-D, Balboa Industrial
Area .- ---- ---- -_
Tool crib in Building 2-A, Balboa
Industrial Area _-____------
Adjust value of Buildings 2-A and
3, Balboa Industrial Area, previ-
ous reactivation --__- ___

Reductions:
Capital repayment _--- ----
Transfers to other U.S. Government
agencies:
West Bank fuel oil facilities, to U.S.
Air Force ------_--__.---

EQUITY AT JUNE 30, 1968 ..--------------

Net direct investment
interest- non-interest-
bearing bearing
$331,759,383 $18,051,630

Retained
revenue,
non-interest-
bearing
$149,059,133

11,420,609

85,750

38,594

1,913
1,590

1,094
331,888,324
10,000,000

151,428
10,151,428

$321,736,896

18,051,630 160,479,742

$18051630 $160479,74-----------
$18,051.630 $160,479,742

FINANCIAL REPORT AND STATISTICAL DATA

Table 4.-Statement of Source and Application of Funds,
Fiscal Year Ended June 30, 1968

SOURCE OF FUNDS:
Revenue ---------- ----------- ---- -----
Net change in working capital, other than cash _.
Other ---------------- ----

APPLICATION OF FUNDS:
Operating expenses and other costs ----
Less operating expenses not requiring expenditures
of funds:
Provision for depreciation -_----_-_.
Provision for stabilization of canal slide ----
Provision for locks overhaul------
Other -_____----------------------

Capital expenditures -___-_-_--_
Canal locks overhaul expenditures
Capital repayment ___-__------
Increase in cash -------- -- --

S$160,449,183
3,399,675
-- 267,476

$164,116,334

$149,028,574

$7,269,301
5,000,000
2,920,969
365,574 15,555,844
133,472,730
--- 13,651,717
S 2,851,478
10,000,000
---- 4,140,409

$164,116,334

Table 5.-Statement of Revenue and Operating Expenses,
Fiscal Year Ended June 30, 1968

TRANSIT OPERATIONS (table 6)_ - -

SUPPORTING SERVICES (table 7):
Maritime services--_- -
Employees' services .___
Transportation and utilities
Other supporting services

GENERAL CORPORATE EXPENSES:
Administrative and other general
expenses (table 8)--- -
Net cost of Canal Zone Govern-
ment----- ---
Interest on net direct investment of
the U.S. Government- --

Revenue
$105,302,403

12,254,:396
29,268,140
9,572,086
3,867,602
54,962,224

160,264,627

Operating
expenses
$48,527,935

9,391,373
29,285,754
9,248,225
3,871,394
51,796,746

100,324,681

184,556 14,182,999

22,536,947

184,556

$160,449,183

11,983,947
48,703,893

$149,028,574

Operating
income
and expenses
$56,774,468

2,863,023
(17,614)
323,861
(3,792)
3,165,478

59.939.946

13,998,443

22,536,947

11,983,947
48,519,337

NET OPERATING INCOME

- $11,420,609

PANAMA CANAL COMPANY 35

Table 6.-Transit Operations, Statement of Revenue and Operating Expenses,
Fiscal Year Ended June 30, 1968

REVENUE:
Canal tolls.--------------- ------------
Credit for tolls on U.S. Government vessels--- ---
Harbor pilotage, tug, launch, and other services--

$83,943,461
9,211,220
12,147,722

105,302,403

Total revenue-----

OPERATING EXPENSES:
Navigation services and control_ .
Engineering and maintenance serv-
ices ------ -------
Operation and maintenance of
locks------------------ -
Dredging of channels and harbors ..
Vessel repair------------
Provision for stabilization of canal
slides ----------------
Provision for periodic overhaul of
locks ---------------
Damage to vessels----------
Meteorology and hydrography serv-
ices--------------------
Locks security force ---_---.---
Annuity to Republic of Panama (re-
payment to U.S. Treasury)-- -
Diesel power generation------
Operation and maintenance of
Thatcher Ferry Bridge_----
Operation and maintenance of dams,
reservoirs, and spillways---
Miscellaneous ------------ --
Total operating expenses_--- -.

Less charges to other activities--
Net operating expenses -------

Direct
expenses
$15,617,740

12,669,310

11,004,994
8.973,122
5,133,941
5,000,001)

2,920,969
2,596,653
805,708
693,062
430,000
32-1,000

234,820
157,736
640,727
$67,202,782

Deprecia-
tion
$273,109

157,738

1,452,640
484,325
154,790

15,499

315,206
114,192
8,347
$2,975,846

Total
$15,890,849

12,827,048

12,457,634
9,457,447
5,288,731

5,000,000

2,920,969
2,596,653
821,207
693,062
430,000
324,000
550,026
271,928
649,074
70,178,628

21,650,693
------------- 48,527,935

------------ $56,774,468

OPERATING INCOME __

FINANCIAL REPORT AND STATISTICAL DATA

I

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PANAMA CANAL COMPANY

Table 8.-Administrative and Other General Expenses,
Fiscal Year Ended June 30, 1968

EXECUTIVE DIRECTION:
Board of directors -- _--... ...... ___
Office of the president ---------- ___-- _...
Information office -- ----
Tourist facilities_________ ____
Office of the secretary------------
Consultants and advisors -------------__ .

OPERATIONS DIRECTION:
General and special engineering services --__ -
Office of the engineering and construction director .
Office of the marine director ___ _____________ .
Office of the supply and community service director
Office of the transportation and terminals director -.
FINANCIAL MANAGEMENT:
Office of the comptroller _--___..-______ .
Annual audit_-----------------------_ _
PERSONNEL ADMINISTRATION:
Personnel bureau ...
Apprentice program -- ___ ____._.
GENERAL SERVICES:
Administrative branch--_ _- ._ -....
Maintenance of buildings ___________
Public services---__--_____ -__-___________ -
Miscellaneous---________.. _____________ ______
EMPLOYMENT COSTS:
Alien cash relief--------------
Recruitment and repatriation -----
Employees' home leave travel ---- -__
Apprentices' school time __________
Death and disability compensation -----------..._
Contribution for employees' health benefit associa-
tion--------_-- ________
Medical and other services for relief annuitants --- .
Contribution for employees' group life insurance --
Transportation of employees' vehicles________ __
Leave liability variation____ ____ ------_
Over-distribution of civil service retirement contribu-
tion ---______ ____-___- _-_ _--
Miscellaneous_- --_____ --_ ___ -

OTHER EXPENSES:
Loss on disposition of fixed assets ___-----....-
Depreciation ------- ----------__------
Correction of landslide at Los Rios -- --
Law suits and tort claims--------------- -
Slide prevention-Gamboa water tank_ __ --.---.

DEDUCT:
Charges to other activities _-- ------------ -

REVENUE __---____-_______--____-----_ ____
NET ADMINISTRATIVE AND OTHER GENERAL EXPENSES_

$12,408
793,648
482,913
69,355
87,608
380,547

314,407
209,985
134,825
156,753
140,212

3,899,961
25,511

1,299,412
135,817

768,307
721,758
78,824
132,232

1,458,839
562,910
615,822
464,017
258,134

175,878
117,819
94,807
53,063
(211,158)

(84,398)
236,389

$219,953
348,470
7,748
54,345
153

$1,826,479

956,182

3,925,472

1,435,229

1,701,121

3,742,122

630,699
14,217,274

34,275
14,182,999
184,556
$13,998,443

FINANCIAL REPORT AND STATISTICAL DATA

Table 9.-Inventories, June 30, 1968

MATERIALS AND SUPPLIES:
Storehouse branch:
General materials and supplies.
Scrap-------------------
In transit to Isthmus

Locks division ----- ---
Marine terminals division __-
Water transportation division_
Water system -- ---
Power system-------

Manufacturing and repair work in progress:
Industrial division- ________
Other units ______ ____ -

Total materials and supplies-

MERCHANDISE HELD FOR SALE:
Retail stores and allied operations:
In warehouses and in stores
In transit________

Water transportation division
Service centers_________
Tivoli guest house_____

Total merchandise held for sale_

TOTAL INVENTORIES

S $7,134,075
192,633
453,884
7,780,592

138,592
110,706
15,000
70,000
204,191
538,489

121,351
388
121,739

8,440,820

3,430,374
748,501
4,178,875
..---- -- 1,866
257,647
- 27,669

4,466,057

$12,906,877

40 FINANCIAL REPORT AND STATISTICAL DATA

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PANAMA CANAL COMPANY 41

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FINANCIAL REPORT AND STATISTICAL DATA

Table 11.-Ocean Traffic Through Panama Canal-Fiscal Years 1958

Through 1968

Total traffic

Fiscal
year

1958..---...----------
1959..--------------......
1960......._
1961 -------------- - -
1962.......____. .
1982---------------
1963.._._._ ._
1964 .- ------
1965 ....
1966...
1967....
1968.................

1958.._.......
1959...
1960-.- -------.
1961
1962-.. .--------....
1963........ ---
1964... ....
1965.... ._ . __ _
1966-...... . . . .
1967-.... ..-----------
1968--- ...---.. --......

1958-
1959 --
1960 ---
1961...
1962 ----.---.
1963--.. _-------_
1964..- ---------..
1965 ----
1966
1967 ......_.. .
1968---- -------
196758 '----- ----

1958----...
1959 ..
1960..--..
1961- ...
1962 ..- -..-----------
1963 ....
1964 ...__
1965....__
1966--------------......
1967-- ...
1968....................._

1958--- ------------------
1959------.---------------
1960----------------------
1961--.-------------------
1962--..------------......
1963-----.---------------.
1964----------------------
1965----------------------
1966--------------......
1967--..........._..__- _
1968-----------------.....

Number
of
transits

9,187
9,718
10,795
10,866
11,149
11,017
11,808
11,834
11,925
12,412
13.199

279
204
182
188
191
300
285
284
591
879
1,504

43
60
94
93
84
91
91
85
85
94
104

9,509
9,982
11,071
11,147
11,424
11,408
12,184
12,203
12,601
13,385
14,807

750
958
833
627
473
430
627
577
544
570
571

Traffic assessed tolls
on net tonnage basis

Long tons Number
of of
Tolls cargo transits

COMMERCIAL OCEAN TRAFFIC1

41,795,905
45,528,728
50,939,428
54,127,877
57,289,705
56,368,073
61,098,312
65,442,633
69,095,129
76,768,605
83,907,062

48,124,809
51,153,096
59,258,219
63,669,738
67,524,552
62,247,094
70,550,090
76,573,071
81,703,514
86,193,430
96,550,165

9,162
9,682
10,745
10,823
11,096
10,973
11,756
11,777
11,859
12,366
13,142

U.S. GOVERNMENT OCEAN TRAFFIC1

972,110
965,643
813,313
997,842
1,028,396
1,460,281
1,395,548
1,647,653
3,446,219
5,484,566
9,206,815

791,310
1,012,842
804,581
1,149,934
1,126,418
1,115,352
1,177,269
1,923,538
3,220,190
6,147,479
8,497,221

224
172
148
160
166
213
184
216
479
782
1,368

FREE OCEAN TRAFFIC1 2
---- 47,107 35
----- 145,267 44
----- 320,722 94
---- 379,660 79
----- 403,831 82
---- 505,473 91
---- 422,092 87
----- 403,920 82
----- 378,626 73
--- 642,882 88
---- 482,483 94
TOTAL OCEAN TRAFFIC'
42,768,015 48,963,226 9,421
46,494,371 52,311,205 9,898
51,752,741 60,383,522 10,987
55,125,719 65,199,332 11,062
58,318,101 69,054,801 11,344
57,828,354 63,867,919 11.277
62,493,860 72,149,451 12,027
67,090,286 78,900,529 12,075
72,541,348 85,302,330 12,411
82,253,171 92,983,791 13,236
93,113,877 105,529,869 14,604

SMALL COMMERCIAL TRAFFIC3
47,619 18,710 750
42,835 17,766 956
42,500 18,126 823
38,086 17,249 621
22,459 8,644 469
23,385 8,980 428
48,686 19,202 622
53,786 20,698 568
48,485 21,054 532
40,097 14,081 566
35,367 8,357 566

Panama
Canal net
tonnage

47,924,345
52,153,563
58,301,926
61,826,002
65,378,845
64,438,115
69,632,611
74,734,814
78,912,824
88,266,343
96,487,843

1,020,267
1,047,674
864,177
1,088,393
1,095,074
1,387,597
1,337,065
1,733,736
3,682,835
6,044,162
10,421,084 .

52,659
146,783
417,457
416,003
442,932
556,031
471,291
452,191
405,221
704,153
511,278

48,997,271
53,348,020
59,583,560
63,330,398
66,916,851
66,381,743
71,440,967
76,920,741
83,000,380
95,014,658
107,420,205

58,914
53,013
50,522
45,653
27,638
28,429
57,587
62,707
57,954
49,027
43,498

Traffic assessed tolls on
displacement tonnage
basis

Number Displace-
of ment
transits tonnage

78,691
112,609
193,471
140,760
197,390
110,002
134,221
208,205
218,092
166,242
220,411

219,938
120,562
134,965
130,905
135,236
552,928
493,655
332,827
494,479
419,701
719,247

11,400
35,795
25,807
3,815
7,790
8,030
31,050
26,760
22,516

310,029
268,966
328,436
297,472
336,441
662,930
635,666
549,062
743,621
612,703
962,174

716
3,807
2,107
1,231
859
2,092
2,900
2,924
938
1,369

1 Ocean traffic includes ships of 300 net tons and over, Panama Canal measurement, or of 500 displacement tons and over
on vessels paying tolls on displacement basis (dredges, warships, etc.).
2 Free traffic includes ships of the Colombian and Panamanian Governments and ships transiting for repairs at the
Company operated yards.
3 Includes vessels under 300 net tons, Panama Canal measurement (or under 500 displacement tons for vessels assessed
on displacement tonnage.)

PANAMA CANAL COMPANY 43

Table 11.-Ocean Traffic Through Panama Canal-Fiscal Years 1958

Through 1968-(Continued)

Total traffic

Number
of
transit

1958 ---------------
1958.......... ..
1959......._ .
1961 ------......................-----
1962.................... .
1963......................
1964 ......................
1965......................
19658..... ... .... .

195866.... . .

1959-...-..
1960...................
1961 .................
1962............. ...
1963................
1964.................
1965............ .....
1366 .......... ........
1967 ......- -----.-
1968 .-------

1958 ---- -------------
1959..............
1959--- --------------
1960.-- -------
1961.. -----.---
1962.-------------
1963.......--------........
1964-...................-
1965.6------._----__
19667. ----------
19678. ----------- --
1968.... -------------

Long tons
of
cargo

Traffic assessed tolls
on net tonnage basis

Number
of
transit

SMALL U.S. GOVERNMENT TRAFFIC3
18.372 ....--

10,608
11,192
12,147
12,019
12,106
12,005
12,945
12,918
13,304
14,070
15,511

9,414
7,791
8,914
6,730
4,192
3,844
4,379
4,277
3,370
4,405

86
44

SMALL FREE TRAFFIC2 3
---- 100 12
-- 16 22
---- 85 13
-- -- 15
S30 17
301 28
- 37 15
1,704 28
79 20
- 9
--- 48 8

TOTAL PANAMA CANAL TRAFFIC
42,834,006 48,982,036 10,393
46,546,620 52,328,987 10,970
51,803,032 60,401,733 11,871
55,172,719 65,216,581 11,746
58,347,290 69,063,475 11,878
57,855,931 63,877,200 11,774
62,546,390 72,168,690 12,687
67,148,451 78,922,931 12,697
72,594,110 85,323,463 13,007
82,296,638 92,997,958 13,851
93,153,649 105,538,318 15,212

Panama
Canal net
tonnage

15,931
3,643
1,863
623
872
773
969
733
2,001
1,844
1,865

1,416
850
862
706
2,299
1,608
1,287
3,226
2,848
213
374

49,073,532
53,405,526
59,636,807
63,377,380
66,947,660
66,412,553
71,500,810
76,987,407
83,063,183
95,065,742
107,465,942

Traffic assessed tolls on
displacement tonnage
basis

Number Displace-
of meat
transits tonnage

10.315
12,999
12,694
16,901
12,195
7,271
6,291
7,702
5,673
3,870
5,764

35
328

213
180
144

320,344
282,681
344,937
316,515
350,195
671,060
644,049
559,664
752,431
617,691
969,451

1 Ocean traffic includes ships of 300 net tons and over, Panama Canal measurement, or of 500 displacement tons and over
on vessels paying tolls on displacement basis (dredges, warships, etc.).
2 Free traffic includes ships of the Colombian and Panamanian Governments and ships transiting for repairs at the
Company operated yards.
Includes vessels under 300 net tons, Panama Canal measurement (or under 500 displacement tons for vessels assessed
on displacement tonnage.)

Table 12.-Traffic by Months-Fiscal Years 1968 and 1967

Number of
transits

1967-68
July --------. -- 1,177
August .. ---------- 1,117
September ..... 1,023
October.......... 1,048
November........... 1,041
December........ 1,100
January......---- 1,094
February.-------. 1,055
March.---- ---- 1,132
April ------- --- 1,132
May ----------- 1,168
June--..------ 1,112
Total--.... 13,199
Average per month 1,100

1966-67
1,039
1,008
988
1,005
985
987
1,043
968
1.079
I .,M04
1,128
1,088
12,412
1,034

Panama Canal
net tonnage

1967-68
8,538,614
7,751,144
7,295.441
7,759,759
7,712.786
8,239,960
7,956,063
7,647,149
8,070,108
8,390 ,-.50
8,609,288
8,516,711
96,487,843
8,040,654

1966-67
7,132,524
7,351,048
6 ,958,306
7,053,937
6,955,559
6,973,795
7,240,372
6,932,996
7,835,490
7,886,986
8,097,824
7.847,506
88.266,343
7,355,438

Long tons of cargo

1967-68
8,377,549
7,842,849
7,179,421
7,874,353
7,395.513
8,266.618
7,969,242
7,867,167
8.091.245
S,32S ,57,
8,691,244
8,666,386
96,550,165
8,045,847

1966-87
7,071,081
7,479,839
6,780,147
6.961,904
6,549.291
6,744,325
7.012.821
6,929,472
7 ,909,287
7,136,036
7,777,911
7,841,316
.6,,193,430
7,182,786

1967-68
$7.399,917
6,750,5$93
6,369,725
6,753.73.1
6,672,439
7,132.819
6,915.807
6,685.,006
7,026,020
7.3"0,821
7.492,786
7,405,291
$83,907,062
6,992,255

1966-67
$6,205,197
6,392,171
6,056,748
6,157,127
6.028,045
6,083,532
6,318.474
6,048,669
6,830.732
6.822,645
7,005,053
6,820,212
$76,768.605
6.397,384

NoTr.-The above includes only commercial vessels of 300 net tons and over, Panama Canal measurement, or of 500
displacement tons and over on vessels paying tolls on a displacement tonnage basis. Statistics on these vessels, except as
relates to displacement tonnage, have been included in the table above.

FINANCIAL REPORT AND STATISTICAL DATA

Table 13.-Canal Traffic1 by Flag of Vessel-Fiscal Year 1968

Measured Tonnage

Panama
Number of Canal
Transits Net

Registered
Gross

Tolls

Long
Tons of
Cargo

Argentina ___________-- 17 99,650 130,953 $88,493 75,050
Australia -_____________ _.. 2 2,967
Belgium -----------______ 109 530,608 600,511 438,191 275,042
Brazil----------____________ 15 86,736 102,923 76,630 95,334
Bulgaria- ____ _______ 11 93,298 117,322 77,435 96,288
Burundi -------------------3 17,360 24,225 14,576 15,300
Canada -------------------- 14 11,998 16,914 16,476 215
Chile------____--- __..-_ 114 776,182 981,583 692,188 691,186
Colombia ---______________- 202 1,144,315 1,409,078 1,028,573 433,024
Cuba --_- ------ ----.-_ 31 219,398 294,698 197,458 331,805
Cyprus ---- ___--------- 21 134,972 174,359 111,069 132,205
Czechoslovakia ---------.-.- 7 96,483 118,969 86,835 155,608
Denmark ----------------.- 434 2,770,233 3,042,369 2,469,982 2,538,773
East Germany-------------- 13 63,680 76,618 52,298 33,694
Ecuador- ------------------_ 161 321,460 436,652 282,783 169,308
Finland --------------------- 38 277,480 310,323 242,423 216,472
France -------------.------- 204 1,100,709 1,489,523 1,035,916 1,015,648
Greece _----_____-------- 444 3,721,763 4,750,961 3,222,731 4,467,674
Honduras---------_____----- 199 269,768 439,230 226,713 116,047
India_--------------------- 31 422,604 555,304 350,553 409,645
Indonesia_________- 5 17,116 20,401 14,509 2,910
Ireland -------------------_ 20 62,126 88,569 55,913 73,521
Israel--------___________--- 113 647,796 796,884 567,349 632,923
Italy _-------_----------- 252 2,054,243 2,716,270 1,804,576 1,881,085
Japan---------------------- 1,036 7,701,053 10,333,112 6,830,144 8,191,057
Lebanon-------_______ __-- 5 29,156 40,287 24,087 30,750
Liberia ------ --_--___ 1,543 16,429,863 20,681,349 14,058,249 21,253,720
Mexico---_____________---- 58 272,774 349,307 222,383 177,468
Netherlands------________ __ --469 2,288,718 3,014,627 1,994,012 2,014,299
Nicaragua__----------------_ 74 183,240 181,274 163,095 118,874
Norway--------------------__ 1,498 13,949,573 18,209,218 12,136,400 16,409,131
Panama --------------------. 519 2,702,916 3,458,573 2,251,921 2,779,659
Peru ------------------- 170 748,125 943,621 662,351 780,694
Philippines_____ ------ __-- 94 641,142 923,548 577,803 413,567
Poland ---____________ __ 36 276,561 314,607 248,905 366,385
Republic of China (Formosa) 107 720,215 936,315 639,390 735,947
Rumania_----------------- 2 15,044 27,472 13,540 36,082
Somalia--__-------------- 1 5,004 5,059 4,504 6,114
South Korea-_______-__---__ 40 219,831 281,317 189,557 171,861
Spain -----------------__- 24 95,638 116,458 84,153 102,653
Sweden----------_________ 466 3,394,075 4,596,629 2,955,366 3,036,667
Switzerland ------------- 74 179,345 215,839 152,693 98,487
Thailand-------______------- 5 37,451 45,557 33,706 39,174
United Kingdom ---------_--- 1,453 11,358,412 15,223,562 9,979,719 11,363,599
United States -------------- 1,647 13,008,852 15,405,087 11,173,704 8,594,846
U.S.S.R._--________--------- 98 435,287 629,746 383,721 572,292
Venezuela-__________________ 2 1,874 2,870 1,517 1,821
West Germany --------------- 1,279 6,524,987 6,963,546 5,684,033 4,974,583
Yugoslavia_ -----______-------39 328,729 418,874 285,472 421,678
Total Fiscal Year 1968 --- 13,199 96,487,843 122,012,493 $83,907,062 96,550,165
Fiscal Year 1967 --_- 12,412 88,266,343 112,216,244 76,768,605 86,193,430
Fiscal Year 1966----_ 11,925 78,912,824 100,762,225 69,095,129 81,703,514
1 Includes only commercial vessels of 300 net tons and over Panama Canal measurement,
or of 500 displacement tons and over on vessels paying tolls on displacement basis (dredges,
warships, etc.).
NoTE.-In Canal traffic statistics, foreign naval vessels such as transports, supply ships, tankers,
etc., with a measurement of 300 net tons (Panama Canal measurement) and over, and vessels
of war, dredges, etc., with a displacement of 500 tons and over are classified as oceangoing com-
mercial vessels. Statistics on these vessels, except as relates to displacement tonnage, have been
included in the table above. As displacement tonnage cannot be combined with net tonnage the
following table shows statistics covering 57 vessels which transited the Canal during fiscal year 1968
and paid tolls on displacement tonnage:

PANAMA CANAL COMPANY

Table 13.-Canal Traffic by Flag of Vessel-Fiscal Year 1968-Cont.

Flag
Australia------- -------------------
Canada----------------------
-- do-------------------
do
Chile do------------------------------
Chile
Ecuador------- -----
France--------------
--do------------------
-_do -------------------------------
Japan -
Mexico-------------------------------
Philippines ----------
Republic of China (Formosa)---- ----.--
United Kingdom-------- -----------
United States--- -------------------

Type

Naval -----
Icebreaker -___-
Dredge------
Naval _-------
-- do------
-- do-----
----do ------
Drydock ----__
Naval --------
-- do-----
--do----
--do-----
--do.
Dredge --------

Total_------------------ --------------

Number Displace-
of ment
transit tonnage
2 5,934
--- 1 7,550
1 2,650
S 1 2,700
2 6,860
3 6,146
24 132,604
1 1,544
---- 8 18,662
2 3,030
1 1,550
1 2,550
.- 7 25,324
---- 3 3,307
57 220.411

Toll
$2,967
3,775
1,325
1,350
3,430
3,073
66,302
772
9,331
1,515
775
1,275
12,662
1,654
$110,206

46 FINANCIAL REPORT AND STATISTICAL DATA

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FINANCIAL REPORT AND STATISTICAL DATA

Table 15.-Laden and Ballast Traffic by Flag of Vessel

Fiscal Year 1968

Laden

Ballast

Flag
Argentina ---------
Belgium ---------
Brazil_-----
Bulgaria -----------
Burundi ---------
Canada------------
Chile------------
Colombia ----------
Cuba---------------
Cyprus--------------
Czechoslovakia --_--
Denmark ---.......
East Germany---------
Ecuador-------__--
Finland--------------
France------------
Greece----------
Honduras------
India_-------------
Indonesia------------
Ireland----------
Israel------------
Italy------------
Japan------------
Lebanon----------
Liberia-----
Mexico -----------
Netherlands--------
Nicaragua -----------
Norway------------
Panama-------------
Peru_-----------
Philippines--------_
Poland_----------
Republica of China
(Formosa) ----
Rumania-----------
Somalia --_----------
South Korea--------
Spain _.__------_ _
Sweden---_----
Switzerland ---_--_---
Thailand__-----
United Kingdom ----
United States --------
U.S.S.R.__ --------
Venezuela ---------
West Germany-------
Yugoslavia---------.
Total FY 1968----
FY 1967 ----
FY 1966 .---

Number Panama
of Canal net
transit tonnage
16 93,030
67 311,965
13 78,780
7 57,006
2 11,538
7 7,710
105 721,705
196 1,137,036
31 219,398
12 77,161
7 96,483
407 2,641,188
7 35,824
95 268,106
33 236,872
152 979,615
374 3,017,008
114 180,443
20 257,103
3 12,140
20 62,126
95 560,755
222 1,808,450
977 7,089,197
3 17,195
1,192 12,381,930
36 135,948
384 1,922,973
70 173,122
1,272 11,626,150
319 1,699,008
163 687,227
93 641,142
36 276,561
99 664,225
2 15,044
1 5,004
31 173,768
21 84,962
403 2,842,400
43 130,916
5 37,451
1,243 9,938,891
1,368 10,031,537
80 390,634
1 937
1,064 5,478,017
33 271,038
10,944 79,586,719
10,314 72,965,092
10,009 67,604,720

NoTE.-Above table involves only commercial
measurement.

vessels of 300 net tons or over. Panama Canal

Tolls
$83,727
280,768
70,902
51,305
10,384
6,939
649,535
1,023,332
197,458
69,445
86,835
2,377,069
32,242
241,295
213,185
881,653
2,715,307
162,399
231,393
10,926
55,913
504,680
1,627,605
6,380,277
15,476
11,143,737
122,353
1,730,676
155,810
10,463,535
1,529,107
618,504
577,028
248,905
597,803
13,540
4,504
156,391
76,466
2,558,160
117,824
33,706
8,945,002
9,028,383
351,571
843
4,930,215
243,934
$71,628,047
65,668,583
60,844,248

Number
of
transit
1
42
2
4
1
4
7
6
9

27
6
63
5
27
70
85
11
2
18
30
51
2
351
20
85
4
226
200
7

7

9
3
63
31
203
276
18
1
215
6
2,198
2,025
1,850

Panama
Canal net
tonnage
6,620
218,643
7,956
36,292
5,822
4,288
54,477
7,279
57,811
129,045
27,856
53,354
40,608
121,094
704,755
89,325
165,501
4,976
87,041
245,793
611,856
11,961
4,047,933
136,826
365,745
10,118
2,323,423
1,003,908
60,898

55,990

46,063
10,676
551,675
48,429
1,419,521
2,977,315
44,653
937
1,046,970
57,691
16,901,124
15,301,251
11,308,104

Tolls
$4,766
157,423
5,728
26,130
4,192
3,087
39,223
5,241
41,624
92,912
20,056
38,415
29,238
87,188
507,424
64,314
119,161
3,583
62,669
176,971
440,536
8,612
2,914,512
98,515
263,336
7,285
1,672,865
722,814
43,847

40,313

33,165
7,687
397,206
34,869
1,022,055
2,143,667
32,150
675
753,818
41,537
$12,168,809
11,016,901
8,141,835

FINANCIAL REPORT AND STATISTICAL DATA

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52 FINANCIAL REPORT AND STATISTICAL DATA

eqn 1C) 0eq'n'to0e~QC)C)C)-eq( 0CreqXC)0eq0OaC)0eqeqeqeq arlC( t- aCeq)~C)) eq~

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54 FINANCIAL REPORT AND STATISTICAL DATA

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FINANCIAL REPORT AND STATISTICAL DATA

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FINANCIAL REPORT AND STATISTICAL DATA

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FINANCIAL REPORT AND STATISTICAL DATA

Table 21.-Cargo Shipments by Trade Routes-Atlantic to Pacific
[Thousands of long tons]
Fiscal year

EAST COAST UNITED STATES TO:
West Coast United States _---------
West Coast Canada------------
West Coast Central America------
Balboa, C.Z.------------
West Coast South America------

Chile -------------
Colombia------ --------
Ecuador----------
Peru --- ----------
Other--------------
Hawaii-------------------------
Oceania ----------- ----
Australia -- --------
New Zealand -- ------
Other .----------.--
Asia------------- -----
British East Indies -----
China ------- .--------------
Formosa-- -------------
Hong Kong -- ------
India----------------------
Indochina ---- ---------
Indonesia----------- -------
Japan ---------
Pakistan ------------------
Philippine Islands---------
South Korea
South Vietnam -- -
Thailand-----------------
Other__ -----
Total------
EAST COAST CANADA TO:
West Coast United States ---- ----
West Coast Canada -------__
West Coast Central America-- ----
West Coast South America -- -------
Oceania------------------ --

Australia-----
New Zealand----- --
Other-----------
Asia--------- -
China-----------
Hong Kong-------
Japan -- --
Philippine Islands-___
Russia----------
Thailand -- -------
Other----------
Total----

::::

--- -214
27
2
------ 670
-------- 6

EAST COAST CENTRAL AMERICA TO:
West Coast United States-----------
West Coast Central America ------------
West Coast South America-----------
Balboa, C.Z.---------------_--
Hawaii-------- ------- ----

17
527
26
1
11
88
1,022

207
303
30
468
15

1967 1966 1965

1968
2,885
230
382
95
1,849
819
156
291
522
61
109
1,418
1,134
231
53
28,732
93

631
232
55
2
213
24,299
15
565
1,115
970
177
365
35,700

24
3
82
243

3,189
155
320
129
2,107
990
195
245
627
50
139
1,978
1,498
432
48
23,910
45
605
158
24
226
77
20,105
21
484
886
736
158
385
31,927

21
4
2
83
242
210
30
2
691
93
21
448
31
14
84
1,043

6
93
24

3,164
182
320
69
1,867
879
213
170
574
31
164
2,059
1,514
524
21
19,299
41

434
131
45
639
21
16,242
24
506
801
N.A.
103
312
27,124

32
13

61
184
140
27
17
399

16
320
24
18
21
689

6
24
27

3,021
36
306
51
1,655
773
171
171
511
29
160
1,714
1,257
428
29
17,612
34
25
611
184
55
416
49
14,644
52
432
805
N.A.
96
209
24,555

37
22
21
37
260
230
29
1
592

24
495
21
19
8
25
969

16
34
24

-----------
-----------
-----------
-----------
--- --------
------------

PANAMA CANAL COMPANY 75

Table 21.-Cargo Shipments by Trade Routes-Atlantic to Pacific-Continued
[Thousands of long tons]
Fiscal year
EAST COAST CENTRAL AMERICA TO- F
Continued 1968 1967 1966 1965
Oceania-------------------- 176 125 100 88
Australia ------------------------- 144 90 75 57
New Zealand-----------------32 35 25 31
Asia------------------------ 109 99 87 85
Japan----------------------- 43 83 63
Formosa -------------------- 53 -- 22
Other------------------------ 2 3 4 --
Total------ ------------- 1,308 347 244 247
EAST COAST SOUTH AMERICA TO:
West Coast United States ---- 1,845 2,090 2,547 2,684
West Coast Canada---- ---- 136 118 235 110
West Coast Central America.------.----- 1,258 1,271 1,184 979
West Coast South America 3,557 3,181 2,748 1,941
Chile ---- -------------- 1,730 1,859 1,420 829
Colombia ------------------- 224 63 310 212
Ecuador ------------------- 623 506 363 340
Peru --------------------- 965 742 655 540
Other ---------------- 15 11 -_- 20
Balboa, C.Z. ------- 588 368 290 294
Hawaii------------- 335 416 266 143
Oceania -------- --------------- 40 104 34 206
Australia .---- ---------------- 7 13 31 119
New Zealand ----_ 33 86 84
Other ------______ 5 3 3
Asia --- ------------------_ 1,436 1,597 1,698 1,480
Japan -------- ------------- 1,352 1,442 1,608 1,464
South Korea ------ ------------- 5 64 19
Other --------------------- 79 91 71 16
Total --- ---------------- 9,195 9,145 9,002 7,837
CRISTOBAL, C.Z., TO:
West Coast United States------------- --- 79 18 17
West Coast Central America ---_----- _-- -- 75 41 48
West Coast South America -------------_ --- 1 21
Balboa, C.Z. ---------- ----------3 501 406 223
Asia. -------- ------_-------- --____ _46 83 28
Japan ------------------- ----- 46 83 28
Other territories --- ------------ ---- 28 20 __--
Total ------- -------------- 3 730 589 316
WEST INDIES TO:
West Coast United States -------- 2,022 2,291 1,686 1,615
West Coast Canada - --328 411 469 425
West Coast Central America --- ------- 193 201 162 292
Balboa, C.Z. -- --------- 266 273 226 221
West Coast South America --------- 677 816 803 952
Chile --------------------- 306 318 396 596
Colombia ---------------- 1 1 3 9
Ecuador ---- ------------- 65 72 28 45
Peru------- --------------- 282 413 364 263
Other ----------------- 23 12 12 39
Hawaii ----------------- 480 287 176 142
Oceania ------ ---------------3 43 44 194
Australia ----- --- --- ----- 28 40 72
French Oceania--------------- -----------1 1

76 FINANCIAL REPORT AND STATISTICAL DATA

Table 21.-Cargo Shipments by Trade Routes-Atlantic to Pacific-Continued

[Thousands of long tons]

Fiscal year

WEST INDIES TO-Continued
New Zealand-------------------
Other-----------------------
Asia ---------------------------
British East Indies- ----
China--- -----------
Hong Kong ---
Indochina-------------
Indonesia---------
Japan-------------
North Korea -------
Philippine Islands --- --
Russia ----- -----
Other---------------------
Total----- ------
EUROPE TO:
West Coast United States---
West Coast Canada ----- --
West Coast Central America-- _
West Coast South America __---
Chile -------
Colombia ---------
Ecuador.-----___-----
Peru-------
Other--------
Hawaii _-- _____-_-- -
Oceania-----------------
Australia -- __----_-_
British Oceania _____ ____-
French Oceania -___-----------_-
New Zealand ------
Other-----------------
Asia____----------
Formosa -----------
Hong Kong ----_- --
Japan----------_ ---
North Korea----------
Russia---------
South Korea-------
Other------------------
Other territories ------
Total.---------
AFRICA TO:
West Coast United States -----
West Coast Canada--- ---
West Coast South America ---------
Oceania ---------
Asia -------__--
Total -------
ASIA (MIDDLE EAST) TO:
West Coast United States --_--------_
Asia --_---________
Other territories .-------__-
Total ------___
Total cargo, Atlantic to Pacific----_----

1968 1967
3 15

2,384
13
196

1,994
100
11
69
1
6,353

1,031
266
378
1,177
343
98
146
448
142
1
843
56
27
244
468
48
3,439
20
26
3,306
19
15

53
2
7,137

28
15
10

557
610

9
22
1
32
61,360

1,911
33
254
6
6
1
1,493
61
12
40
5
6,233

1,068
316
369
1,288
355
138
148
548
99
3
827
33
28
189
531
46
497
5
1
474

17
1
4,369

109
23
3
1
45
181

14

3
17
53,992

1966 1965
3 103
18
1,538 1,376
43 10
151 123
3 4
74-
2 6
1,168 1,122
N.A. N.A.
10 13
83 98
4----
5,104 5,217

853 882
245 260
344 376
1,265 967
388 299
128 121
113 109
533 394
103 44
2 12
920 903
19 26
25 33
213 225
599 577
64 42
87 88
2 1
1 2
77 73
N.A. N.A.
4
1---
6 8
11
3,716 3,499

112
8
21
39
13
193

11

11
46,672

180
12
53
34
17
296

12
1

13
42,949

PANAMA CANAL COMPANY 77

Table 22.-Cargo Shipments by Trade Routes-Pacific to Atlantic
[Thousands of long tons]
Fiscal year
1968 1967 1966 1965
WEST COAST UNITED STATES TO:
East Coast United States ---------- 1,280 1,440 1,957 2,177
East Coast Canada. -------------------- 45 12
East Coast Central America ------------- 14 1 2 2
Cristobal, C.Z. -- ---------- 136 3 4 6
East Coast South America -------------- 161 147 145 155
Argentina ---------------------- 1 3 12 21
Brazil -------------------------- 12 10 22 24
Colombia ------------------------- 18 14 19 6
Uruguay ------------------------ ------ -----1 1
Venezuela------------------------ 127 115 90 102
Other ------------------------- 3 5 1 1
West Indies -------------------------- 465 288 283 295
British West Indies------------------ 174 33 22 33
Haiti-Dominican Republic ----------- 5 5 4 20
Netherlands West Indies------------ 61 4 4 5
Puerto Rico ----------------------- 220 243 251 236
Other --------------------------- 5 3 2 1
Europe ---------------------------- 2,424 2,443 2,888 2,411
Belgium------------------------ 152 105 119 108
Denmark ----- ---- -------- 26 37 47 41
Finland ----------- ----------- 13 17 21 15
France -------------------------- 151 203 192 197
Greece -- --------------------- 32 11 36 35
Irish Republic --- --------- 6 11 10 11
Italy ------------------------- 361 428 481 340
Netherlands-- ---------------- 681 656 762 725
Norway ------------ ---------- 16 47 61 29
Poland ------------------------ 1 32 109 15
Spain-Portugal ------------ 62 38 63 90
Sweden ------------48 63 68 63
United Kingdom ------ ------ 191 267 278 352
West Germany ------------------ 460 376 499 311
Yugoslavia ---------------------- 7 16 6 10
Other ------------------------- 217 136 136 69
Asia (Middle East)------------------ 77 74 61 18
Cyprus -------------------------------- 11
India------ ----- --------------------- --- 4
Israel ---------------------------- 15 22 36 8
Lebanon --------------- 3 8 4 5
Syria ------------------------49 32 1-----
Other----- -------------------- 10 1 20 1
Africa_------------- -------- 77 112 161 97
Algeria ------------------------- 40
Kenya--------------------- 9 7 13 7
Egypt ------------ -------------- 4 27 4
Morocco ------------------------ ---21 1
Mozambique ---------------------8 6 9 13
South Africa ------ ------ 27 31 35 56
Tunisia ------------------------- 14 29 26 10
Other ----------- 19 14 10 7
Total------ ------------ 4,679 4,508 5,501 5,173
'EEST COAST CANADA TO:
East Coast United States ----------- 1,750 1,417 1,626 1,184
East Coast Canada---------- ----3 6 6 9
Cristobal, C.Z.---------------- --- -------- 1

78 FINANCIAL REPORT AND STATISTICAL DATA

Table 22.-Cargo Shipments by Trade Routes-Pacific to Atlantic-Continued
[Thousands of long tons]
Fiscal year

WEST COAST CANADA TO-Continued
East Coast South America -------------
Argentina .-------..----------
Brazil ----- -----
Colombia ------ ------
Venezuela ----------
Other ----------
West Indies ----------------------
British West Indies ----------
Haiti-Dominican Republic -- __-
Puerto Rico
Other --------------
Europe-------------
Albania -------- ------
Belgium--------------
Finland --------------
France -- _---- ------
Greece-- ---------
Irish Republic -------
Italy--------------
Netherlands ...._ ------------
Norway -- ______
Poland
Russia
Spain-Portugal --_____________.-___
United Kingdom ___. -____
West Germany ---- ---__._-- __.
Yugoslavia------------_ __________
Other .---------------------
Asia (Middle East): ---------
Israel ---- -----
Lebanon-------
Africa- ___--___--__
Egypt---------------
Mozambique ---- ---_-
South Africa -__ ---______
Tunisia-- __
Other---
Total --------.. -----
WEST COAST CENTRAL AMERICA TO:
East Coast United States ---
East Coast Canada ------- -
East Coast Central America ----
Cristobal, C.Z. -------
East Coast South America _..- --------
West Indies --------
Europe---------_~_
Belgium- ------
Denmark __----_--- -
France----_--------- --_---
Italy ---- ----------------
Netherlands ------ _____
Poland -------- --
Spain-Portugal-------------
Turkey----------. _____

1968
131

23
12
95
1
150
34
7
108
1
3,761

139

83
34
41
382
703
16
35

30
1,688
231
6
373
56
55
1
196
1
34
139

22
6,047

1967
153
3
23
2
124
1
131
31

96
4
3,028

100

91
23
31
382
513
16
26

33
1,421
182
27
183
53
52
1
271

24
190

57
5,059

880 706
16
6 18
3 2
101 15
11 12
524 689
57 168
55 39
10 26
39 65
131 103
11
13 25
8 14

1966
216
6
14
1
195

124
32
7
85

3,357
23
158
24
90
15
42
280
490
6
64

31
1,583
366
17
168
38
37
1
275

73
189

13
5,642

491

25
4
17
8
838
29
25
40
64
72
263
54

1965
340
8
44

286
2
122
28
1
91
2
3,329

109
1
79
23
40
210
292
1
82
53
14
2,075
215
13
122
37
27
10
269

39
212
12
6
5,291

639

88
8
27
11
912
26
25
25
36
57
509
22

PANAMA CANAL COMPANY

Table 22.-Cargo Shipments by Trade Routes-Pacific to Atlantic-Continued
[Thousands of long tons]

WEST COAST CENTRAL AMEMCA TO-
Continued
United Kingdom----------------
West Germany--- -------------
Other------------ ---------
Africa---------- -----------------
Egypt------------------------
Morocco---------------------
Senegal --------------------
Other-----------------------
Other territories--------------------
Total_--- -------------
WEST COAST SOUTH AMERICA TO:
East Coast United States-------
East Coast Canada---------- --
East Coast Central America ------------
Cristobal, C.Z.---------------------
East Coast South America-------
Argentina--------------------
Brazil----------------------
Colombia------------- --------
Venezuela---------------------
Other-----------------------
West Indies-----------------------
British West Indies -----
Cuba__------- -------
Netherlands West Indies ------
Puerto Rico--------------------
Other --------- ------
Europe--------
Belgium ----- -----------
Bulgaria----------------
Denmark-- ------
East Germany -----
Finland -------
France---- -- -
Greece -------
Irish Republic ---- __--___
Italy----------
Netherlands -------
Norway -------
Poland ---------------
Rumania -- -----
Russia -----------
Spain-Portugal-------- -_ ---_
Sweden ---------______
United Kingdom----------
West Germany -----
Yugoslavia --------.__-
Other ----- _-_-- --
Asia (Middle East)_ ------
India --------- __
Israel ----_ ____
Lebanon -- -------
Other --------__
Africa ____. _
Total --____ _

Fiscal year

1968
28
108
64
15
2

8
5
1
1,541

4,828
17
119
4
93
9
18
18
43
5
241
23

57
161
4,563
380
9
19
19
43
552
7
23
562
678
4
94

15
165
97
441
1,013
69
373
11

4
6
1
3
9,879

1967 1966 1965

9
166
74
1

1
6
1,465

5,702
78
71
5
68
1
1
31
35

92
29

1
62

4,406
452
13
23
48
20
429

10
533
771
6
62

1
154
84
405
981
57
357
29
24
3
--1-4
2

10,451

36
187
68
325
309
3

13

1,708

5,762
91
67
6
49

21
28

35

35

5,380
630
11
34
48
22
316
27
8
483
1,200
13
96

243
85
392
1,456
57
259
11
8

3

11,401

32
159
21

1,685

6,169
103
43
6
42

18
23
1
33

5
1
27

6,186
542
5
59
24
12
463
6
8
359
1,730
6
75
6

207
102
517
1,722
68
275
28
17
2
8
1

12,610

80 FINANCIAL REPORT AND STATISTICAL DATA

Table 22.-Cargo Shipments by Trade Routes-Pacific to Atlantic-Continued
[Thousands of long tons]
Fiscal year

BALBOA, C.Z., TO: 1968
East Coast United States----------------- 16
East Coast South America------- ---
Europe_------------------ 3
Other territories----------------------- 2
Total ------------------21
HAWAII TO:
East Coast United States --- 439
East Coast Canada --------------
Europe-------------------- ----
Netherlands-------_----
United Kingdom----- ------- _----
West Germany ------.. -_------------
Other------------
Other territories------------------ 1
Total -------------_-------- 440
OCEANIA TO:
East Coast United States-----------.-- 986
East Coast Canada-------------------- 234
East Coast Central America--------- 14
Cristobal, C.Z.------------------------ 7
East Coast South America------------ 11
West Indies-------------------- --- 458
British West Indies----------------- 59
Netherlands West Indies -------- 2
Other------------- ---------- 397
Europe------------- ------------- 1,836
Belgium------------ ---------- 49
France ----------------- 132
Netherlands ----------- 94
United Kingdom--------------- 1,294
West Germany----------------- 76
Other--------- ----- ---- 191
Other territories--------- ------ 6
Total ------------- ---------. 3,552
ASIA TO:
East Coast United States----------- 7,277
East Coast Canada-------------------- 208
East Coast Central America --- 23
Cristobal, C.Z.----------------- 39
East Coast South America -------- 324
Argentina--------------------- -- 24
Brazil ---------- -------- 48
Colombia ---------------------19
Netherlands Guiana ------------ 12
Venezuela----------------------- 210
Other------------------ 11
West Indies--------------------- 470
British West Indies -------------54
Cuba--------------------- 290
Haiti-Dominican Republic_- -- 26
Netherlands West Indies -----_-.--- 10
Puerto Rico----------------- 76
Other ---- ----------------14

1967 1966 1965

2
1
5
8

385

49
3
35
6
5

434

1,026
291
12
7
10
191
149
1
41
1,258
21
77
42
1,004
50
64

2,795

6,368
222
36
37
351
21
50
46
5
225
4
279
37
152
22
10
53
5

10
2
2
16
30

502
2
29
5
9
15
1
534

879
206
12
3
8
77
57
4
16
1,335
31
94
34
1,070
44
62

2,520

6,604
232
25
38
318
29
50
45
12
178
4
309
29
153
15
23
78
11

25
3

28

465
4
27
2
7
18
3
499

721
201
15
4
12
72
67
2
3
1,476
27
80
26
1,195
51
97

2,501

4,928
147
19
35
369
41
38
62
4
202
22
210
25
122
16
9
38

PANAMA CANAL COMPANY

Table 22.-Cargo Shipments by Trade Routes-Pacific to Atlantic-Continued
[Thousands of long tons]
Fiscal year

ASIA To-Continued 1968 1967
Europe--_ -------------------------- 679 179
Belgium ---- ---------------- 95 19
East Germany------------------ 9 --
Italy --- ------------------ 48 5
Netherlands --------------- 135 102
United Kingdom_-- -------------- 137 24
West Germany----------------- 122 19
Other ------------------------ 133 10
Africa-------------------------11 ---
Other territories ------- -------- ------ 10
Total------ --------- 9,031 7,482

Total cargo, Pacific to Atlantic --- -- 35,190 32,202

1966
164
20
2

77
19
16
30
6

7,696

35,032

1965
127
8

60
28
13
18
2

5,837

33,624

FINANCIAL REPORT AND STATISTICAL DATA

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific
[Thousands of long tons]

EAST COAST UNITED STATES TO WEST COAST
UNITED STATES:
Chemicals and petroleum chemicals ------
Caustic soda -- _-----------
Chemicals, unclassified ---------
Petroleum chemicals ----------- __- -
Benzene ---------- --
Toluene ----------.----___
Other and unclassified--__ _-
Manufactures of iron and steel --_.
Angles, shapes, and sections---
Plates, sheets, and coils -
Tubes, pipes, and fittings ---. -----
Wire, bars, and rods._ __- _
Other and unclassified--- ____-
Minerals, miscellaneous __-- -_--
Soda and sodium compounds- _..----
Nitrates, phosphates, and potash ----
Ammonium compounds ------
Fertilizers, unclassified ----
Phosphate--------- --
Ores and metals ----_-_ _-_- .----
Ores _-____-- -----
Alumina/bauxite -----_---------
Metals--------- ------
Iron _---- ------
Other and unclassified .....--- .
Petroleum and products --_______
Asphalt_-----------
Diesel oil-------_ ---
Fuel oil, residual---------------
Gasoline------ ----------- -
Jet fuel-------------------
Kerosene---------------------
Lubricating oil -- ----------
Other and unclassified ----.------
Miscellaneous_------- ------- -----
Cement_ -___-------- -
All other and unclassified _.----- --
Total ----------- -----
EAST COAST UNITED STATES TO WEST COAST
CANADA:
Chemicals and petroleum chemicals .----
Caustic soda --- ------ --
Chemicals, unclassified ------
Grains---------------------------
Rice- ----------- -------
Minerals, miscellaneous _--- ---------
Soda and sodium compounds-- ---__-
Nitrates, phosphates, and potash ------__-
Phosphate ----------- ------
Ores and metals-----------------
Ore, alumina/bauxite -------------
Miscellaneous --------------- --

Fiscal year

1968
334
63
135
136
11
7
118
767
112
234
40
33
348
8
8
105

11
94
298
287
287
11
7
4
1,306

53)

802
56
109
244
42
67

67
2,885

32
27
5

4
4
161
161
33
33

1967
330
N.A.
140
190
N.A.
N.A.
190
802
N.A.
N.A.
N.A.
N.A.
N.A.

N.C.
97

97
266
263
263
3

3
1,290

)
27)
647
N.A.
319
271
26
404
40
364
3,189

N.A.

N.C.
N.C.
137
137
18
18

1966
309
N.A.
148
161
N.A.
N.A.
161
753
N.A.
N.A.
N.A.
N.A.
N.A.

N.C.
101
13

88
286
285
285
1

1
1,287
16

57'
481
N.A.
363
274
96
428
68
360
3,164

1965
264
N.A.
137
127
N.A.
N.A.
127
609
N.A.
N.A.
N.A.
N.A.
N.A.

N.C.
74

74
243
217
217
26
25
1
1,544

S 61
830
N.A.
295
272
86
287
27
260
3,021

---- -- --- -
N.A. N.A.
7 5
7 5
N.C. N.C.
N.C. N.C.
166 28
166 28

9 -3
----- ---- -
9 3

PANAMA CANAL COMPANY 8:

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific-Continued
[Thousands of long tons]

EAST COAST UNITED STATES TO WEST COAST
CANADA-Continued
Miscellaneous-Continued
All other and unclassified-----
Total_ ------
EAST COAST UNITED STATES TO WEST COAST
CENTRAL AMERICA:
Canned and refrigerated foods ----
Canned foods, miscellaneous---
Chemicals and petroleum chemicals_--
Chemicals, unclassified -----
Petroleum chemicals, miscellaneous -
Other and unclassified -------------
Grains __------------
Corn----------- ----
Rice-- ---------- --
Wheat----------- ----
Other and unclassified-------
Lumber and products, miscellaneous---
Machinery and equipment, miscellaneous --
Manufactures of iron and steel,
miscellaneous-----------
Minerals, miscellaneous------
Sulfur-----------------
Nitrates, phosphates, and potash -------
Ammonium compounds ----
Fertilizers, unclassified -----
Phosphate ------
Potash ---------
Other and unclassified ----
Ores and metals-----------
Metals------------ --------
Scrap-------------
Other and unclassified ---- --.--
Petroleum and products-----
Lubricating oil ----
Other and unclassified--------
Miscellaneous---------
Flour, wheat--------
Glass and glassware ----
Paper and paper products ----
All other and unclassified ----
Total_____---------
EAST COAST UNITED STATES TO WEST COAST
SouTH AMERICA:
Canned and refrigerated foods --------
Canned foods --- -
Milk-------------
Other and unclassified----
Refrigerated foods, miscellaneous ..--
Chemicals and petroleum chemicals-----
Caustic soda.. ------------
Chemicals,unclassified -------
Petroleum chemicals, miscellaneous ..-

Fiscal year
1968 1967 1966 1965

230 155

5
5
30
18
10
2
94
6
6
80
2
2
11

8

91
4
43
34
7
3
7
7
4
3
13
6
7
121
3
2
60
56
382

22
19
12
7
3
46
8
30
8

9
9
19
18
1

50
6
17
27

7
7

10
8
8
75
2
19
39
15

8
8
5
3
12
7
5
115
3
2
53
57
320

10
8
3
5
2
60
N.A.
58
2

9
182

7
7
31
29
2

35
11
17
7

2
8

18
2
2
84
24
16
34
10

4
4
1
3
12
8
4
117
8
5
55
49
320

33
26
19
7
7
55
N.A.
49
6

3
36

15
15
16
14
2

33
16
6
11

3
7

13

89
10
18
56
5

7
7
5
2
16
11
5
107
5
2
55
45
306

52
46
27
19
6
49
N.A.
48
1

84 FINANCIAL REPORT AND STATISTICAL DATA

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific-Continued
[Thousands of long tons]
Fiscal year
EAST COAST UNITED STATES TO WEST COAST Fiscal year
SOUTH AMERICA-Continued 1968 1967 1966 1965
Coal and coke ----- ---------_ 185 171 154 176
Grains-_____________________________ 542 703 491 371
Corn -- -----_----------------- 86 36 31 16
Oats-------_________________ 6 3
Rice -- ----- ---------------- 8 57 21 46
Soybeans --- ------------__ _____ 1 7 4
Wheat_------_________________ 435 604 431 293
Other and unclassified- ----- ------ 7 2 1 12
Lumber and products ---------___------_ 22 8 10 13
Pulpwood------------- ____ 20 5 5 10
Other and unclassified---------_---_ 2 3 5 3
Machinery and equipment-------- ------ 161 205 188 157
Agricultural machinery and implements_ 34 19 24 20
Automobiles, trucks, accessories and
parts- ---- ___---------------- 61 76 62 47
Construction machinery and equipment- 27 N.A. N.A. N.A.
Electrical machinery and apparatus-- 16 13 16 14
Other and unclassified ----- -.__.-- 23 97 86 76
Manufactures of iron and steel---- ------ 74 65 123 77
Angles, shapes, and sections------ --15 N.A. N.A. N.A.
Nails, tacks, and spikes --_.- 4 N.A. N.A. N.A.
Plates, sheets, and coils --- -------- 10 N.A. N.A. N.A.
Tubes, pipes, and fittings ------- 20 N.A. N.A. N.A.
Wire, bars, and rods -- ------- 8 N.A. N.A. N.A.
Other and unclassified ------------17 N.A. N.A. N.A.
Minerals, miscellaneous -------- ----- 19 33 31 32
Soda and sodium compounds------- 3 N.C. N.C. N.C.
Sulfur ------------------ 13 30 28 29
Other and unclassified ------- 3 3 3 3
Nitrates, phosphates, and potash __ ---- 230 220 172 160
Ammonium compounds---------- 21 13 14 17
Fertilizers, unclassified -------24 28 11 12
Phosphate------------------- 163 159 136 116
Potash ---------- ------- 21 18 11 15
Other and unclassified ------ 1 2---- ----
Ores and metals----------- -------- 36 50 80 61
Ores, miscellaneous-------------- 15 6 5 4
Metals --------------------21 44 75 57
Scrap------------ 1 21 36 41
Tin, including tinplate_._--- 12 15 15 10
Other and unclassified-------- 8 8 24 6
Petroleum and products----------- 65 86 75 75
Asphalt -- --------------- 2 3 11 9
Gasoline_------------- 5 8 1--
Lubricating oil ---- -------- 54 66 52 60
Other and unclassified----------- 4 9 11 6
Miscellaneous ------ --------- 447 496 455 432
Bricks and tile-------------------- 7 8 10 15
Carbon black--------------- 5 6 9 9
Clay, fire and china-------------- 10 9 9 8
Flour, wheat ------ 106 147 94 89
Glass and glassware------------- 5 5 6 4
Groceries, miscellaneous------------ 9 6 3 4
Marble and stone -------- 12 12 21 23

PANAMA CANAL COMPANY

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific-Continued
Thousands of long tons]

EAST COAST UNITED STATES TO WEST COAST
SOUTH AMERICA-COntinued
M iscellaneous-Continued
Oil, vegetable-------------
Paper and paper products ____-
Resin----------------
Rubber, manufactured ----
Tallow--------------------
Tobacco and manufactures_----
Wax, paraffin--------------
All other and unclassified ---.--- --
Total-----------------
EAST COAST UNITED STATES TO BALBOA, C.Z.:
Canned and refrigerated foods---_ _
Canned foods, miscellaneous --
Refrigerated foods, miscellaneous .. --
Grains------------------
Wheat------------- ----
Petroleum and products-_---
Diesel oil---- --------------
Fuel oil, residual -------
Other and unclassified-------
Miscellaneous---------------
Flour, wheat-------
Oil, vegetable -----
All other and unclassified--- -
Total------ ------------
EAST COAST UNITED STATES TO HAWAII:
Canned and refrigerated foods __--. ---
Canned foods, miscellaneous----
Refrigerated foods, miscellaneous ----
Chemicals and petroleum chemicals ------
Chemicals, unclassified -------
Grains, miscellaneous ---- _
Machinery and equipment ----
Automobiles, trucks, accessories and
parts_ -------
Electrical machinery and apparatus -
Other and unclassified ----
Manufactures of iron and steel __--
Angles, shapes, and sections ______
Tubes, pipes, and fittings -- __
Other and unclassified-- __-
Nitrates, phosphates, and potash --------
Phosphate---.. --------..
Other and unclassified ----
Ores and metals ----------
Metal, tin, including tinplate --
Miscellaneous _________
Liquors and wines_ _____
Paper and paper products -----
Textiles -------__
All other and unclassified --------
Total--- ------

Fiscal year
1968 1967 1966
9 20 18
124 96 63
14 9 9
15 14 20
25 22 23
5 6 4
15 15 18
86 121 148
1,849 2,107 1,867

7
1
6
24
24
18
-- -- )
17)
1
46
6
7
33
95

2
1
1
3
3
3
11

6
2
3
22
5
7
10
18
17
1
17
17
34
2
1
1
30
110

5
1
4
59
59
19
)
18)
1
45

5
40
128

3
2
1
4
4
2
15

4
3
8
21
N.A.
N.A.
N.A.
21
19
2
30
30
43
2
2
2
37
139

4
1
3
27
27
2
)
1
1
36
1
5
30
69

4
3
1
2
2

14

4
3
7
29
N.A.
N.A.
N.A.
27
26
1
34
34
54
3
2
2
47
164

1965
40
56
10
15
19
2
16
122
1,655

2

2
23
23
2

2
24
2

22
51

4
3
1
2
2
8
10

3
2
5
25
N.A.
N.A.
N.A.
24
22
2
36
36
51
3
1
1
46
160

WS FINANCIAL REPORT AND STATISTICAL DATA

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific-Continued
[Thousands of long tons]
Fiscal year

EAST COAST UNITED STATES TO OCEANIA:
Chemicals and petroletun chemicals --._____
Caustic soda____________
Chemicals, unclassified ______
Petroleum chemicals, miscellaneous __
Coal and coke --- ___ ____
Grains -________________
Rice ---- _______
Soybeans--_____________
Lumber and products --______ _________
Pulpwood --- _---------------
Other and unclassified -..____________
Machinery and equipment ________

Agricultural machinery and
implements_ ______ __ ___
Automobiles, trucks, accessories and
parts- --_____---____ __-
Construction machinery and equipment
Electrical machinery and apparatus- -.
Other and unclassified ----
Manufactures of iron and steel,
miscellaneous ---- _------
Nitrates, phosphates and potash- _____
Ammonium compounds- _--______-
Fertilizers, unclassified -____---
Phosphate------_--- ----
Potash _--- ------------..-
Minerals, miscellaneous-----_-------
Soda and sodium compounds ---
Sulfur----------
Other and unclassified ________
Ores and metals _____ ____
Ores _---------
Alumina/bauxite __-_____
Other and unclassified ---
Metals, miscellaneous----- _
Other agricultural commodities ----
Beans, edible -_________
Cotton, raw----------------__
Sugar--- ------_____- __
Petroleum and products---------- -
Lubricating oil ______
Other and unclassified _______
Miscellaneous------------------__
Ammunition and explosives- --
Bricks and tile---- ---------_--
Carbon black ---------------
Clay, fire and china--_---- _-
Floor coverings ---- ---
Flour, wheat____ ------
Glass and glassware ------
Nuts, edible -----_ -------- -
Oil, vegetable ------
Paper and paper products ---
Resin---_ ~__-- __- __

1968
141
82
51
8
3
43
12
31
8
4
4
128

27

49
14
5
33

26
546
16
5
503
22
195
8
183
4
6
3
3
3
7
3
4

55
42
13
260
7
4
5
48
5
1
9

5
32
19

1967
108
N.A.
104
4
13
30
11
19
9
7
2
130

19

46
N.A.
4
61

26
921
17
6
878
20
308
N.C.
303
5
10
6

6
4
20
5
3
12
60
48
12
343
13
3
4
31
5
5
9
1
9
28
15

1966
101
N.A.
86
15
13
53
9
44
7
4
3
131

26

42
N.A.
6
57

25
1,072
33
1
1,007
31
300
N.C.
299
1
14
9
5
4
5
14
3
11

64
54
10
265
3
4
4
34
4
1
8
6
11
26
21

1965
68
N.A.
61
7
6
16
7
9
9
7
2
142

32

42
N.A.
5
63

26
757
5
12
720
20
260
N.C.
258
2
62
48
41
7
14
22
4
18

94
83
11
252
2
6
4
30
4

8
1
11
23
18

PANAMA CANAL COMPANY 87

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific-Continued
[Thousands of long tons]
EAST COAST UNITED STATES TO OCEANIA- Fiscal year
Continued
Miscellaneous-Continued 1968 1967 1966 1965
Rubber, manufactured--- 17 16 14 13
Tobacco and manufactures --------_ 12 14 12 11
Wax, paraffin --___--- ------ --- 6 7 9 6
All other and unclassified-------- 90 183 108 115
Total ---------------------- 1,418 1,978 2,059 1,714
EAST COAST UNITED STATES TO ASIA:
Canned and refrigerated foods__ --____--_ 58 69 90 109
Canned foods _------- --------- 40 57 76 90
Milk_ --- ------------- 19 26 55 67
Other and unclassified ---------21 31 21 23
Refrigerated foods -------------._ 18 12 14 19
Meat---- ----------- 14 10 11 9
Other and unclassified ------- 4 2 3 10
Chemicals and petroleum chemicals--- .- 421 427 325 361
Caustic soda -----------_ --- 6 N.A. N.A. N.A.
Chemicals, unclassified -- --------- 251 381 248 283
Petroleum chemicals ------------- 164 46 77 78
Benzene -- ------------ 10 N.A. N.A. N.A.
Cyclohexane------------ 23 N.A. N.A. N.A.
Toulene ----- ---- ------ 8 N.A. N.A. N.A.
Other and unclassified ---------- 123 46 77 78
Coal and coke------- ---------- 12,082 8,883 6,720 6,280
Grains----------------- 7,418 5,603 5,635 4,380
Barley-- --------------- 1 _--- _----- 10
Corn-------- ---------- 2,736 2,601 2,646 2,189
Oats --- ----------- --------8 3-- --
Rice--------------------- 769 89 70 83
Sorghum --------------_ 1,123 504 520 208
Soybeans --------- ---------_ 2,421 1,870 1,972 1,515
Wheat ------ --------------- 325 510 333 304
Other and unclassified ------_-------- 35 26 94 71
Lumber and products -------_- ------ 93 96 67 69
Boards and planks ___--------------- 7 N.A. N.A. N.A.
Pulpwood ---- ------------- 78 76 50 60
Other and unclassified ------------8 20 17 9
Machinery and equipment ------------- 227 200 168 161
Agricultural machinery and implements_ 19 5 7 7
Automobiles, trucks, accessories, and
parts ---- --------------_ 88 68 51 47
Construction machinery and equipment_ 39 N.A. N.A. N.A.
Electrical machinery and apparatus-_ 30 22 15 15
Other and unclassified ------ --- 51 105 95 92
Manufactures of iron and steel --------- 130 233 143 134
Angles, shapes, and sections -__-__-- 20 N.A. N.A. N.A.
Plates, sheets, and coils ------------- 27 N.A. N.A. N.A.
Tubes, pipes, and fittings --------- 15 N.A. N.A. N.A.
Wire, bars, and rods__---_ --_ -- 17 N.A. N.A. N.A.
Other and unclassified----------- 51 N.A. N.A. N.A.
Minerals, miscellaneous---------------- 82 124 66 71
Soda and sodium compounds -------- 8 N.C. N.C. N.C.
Sulfur ---------------- 69 121 62 67
Other and unclassified --- ------- 5 3 4 4

88 FINANCIAL REPORT AND STATISTICAL DATA

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific-Continued
[Thousands of long tons] Fiscal year

EAST COAST UNITED STATES TO AsiA-Continued 1968 1967 1966 1965
Nitrates, phosphates, and potash_ _________ 2,971 2,207 2,221 2,165
Ammonium compounds-----------22 5 60 77
Fertilizers, unclassified_ --- 116 101 55 79
Fishmeal ------------------------- 2 1 1 5
Phosphate --- --------------- 2,825 2,098 2,101 1,997
Potash ----- --------------- 6 2 4 7
Ores and metals----------- ------ 2,732 3,422 1,544 2,020
Ores, miscellaneous -------- ----- 11 27 35 7
Metals--- ------------ 2,721 3,395 1,509 2,013
Iron --- ------- --------20 10 6 13
Scrap------------- 2,607 3,288 1,405 1,910
Tin, including tinplate__-- 67 59 78 67
Other and unclassified------ --27 38 20 23
Other agricultural commodities ------- 622 525 390 366
Beans, edible------------ 47 12 14 11
Cocoa and cacao beans--------- 4 6 13 9
Cotton, raw 531 473 332 316
Oilseeds _---------- ------- 10 4 3 2
Skins and hides--------- _-- 27 21 17 19
Other and unclassified ---_-- ---_-- 3 9 11 9
Petroleum and products ------------- 696 598 521 472
Asphalt-------- ----------- 5 17 13 15
Crude oil-- ----------------- 4 ______ 1
Diesel oil ----- --------------- 15) ) )
Fuel oil, residual--------------- 1) 11) 1) ----
Gasoline------------ ------ 14 11 27 31
Kerosene -- ------------ 2 6 ___-- 1
Lubricating oil --- 486 514 419 381
Petroleum coke------------- 121 N.A. N.A. N.A.
Other and unclassified -------- 48 39 60 44
Miscellaneous------------- -- 1,200 1,523 1,409 1,024
Ammunition and explosives--------- 16 53 10 9
Beer------------- ------------ 1 6
Bricks and tile -- -- ---------- 6 5 3 5
Carbon, black------ ------------- 15 14 8 10
Cement ------ --------------- 3 12 3 7
Clay, fire and china ------------ 97 78 51 54
Fibers, plant ------------ ---- 7 N.A. N.A. N.A.
Flour, wheat ------------ 175 70 142 107
Glass and glassware------------ 6 6 5 6
Groceries, miscellaneous --------_ 22 14 11 9
Oil, vegetable ----------------- 43 33 19 41
Paper and paper products __---------- 90 67 49 66
Pharmaceutical products _----- 2 6 4 6
Rags and waste--------- --- 5 6 9 7
Railroad materials------------- ------ 7 1 1
Resin --------------------- 126 417 427 180
Rubber, manufactured-------- 50 44 38 53
Tallow--------------------------- 59 27 30 33
Textiles---------- ------------- 25 49 21 19
Tobacco and manufactures------- 53 53 48 37
Wax, paraffin--------- --------- 11 16 11 5
All other and unclassified---------- 389 545 513 369
Total -----------------28,732 23,910 19,299 17,612

PANAMA CANAL COMPANY 81

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific-Continued

[Thousands of long tons]

EAST COAST CANADA TO WEST COAST
UNITED STATES:
Minerals, miscellaneous -----
Asbestos__----------
Ores and metals_ -----
Ores, miscellaneous ---- __
Metal, iron ------ ---
Miscellaneous -------
Paper and paper products --- _--._-
All other and unclassified- --
Total ---- ---.....-_
EAST COAST CANADA TO WEST COAST
CANADA:
Chemicals and petroleum chemicals---
Chemicals, unclassified____-----
Ores and metals__ ___________ _
Ore, alumina/bauxite-------
Miscellaneous----- _---- -------
All other and unclassified------
Total--- -----
EAST COAST CANADA TO WEST COAST
CENTRAL AMERICA:
Miscellaneous----__ ___-------
All other and unclassified-----
EAST COAST CANADA TO WEST COAST
SOUTH AMERICA:
Chemicals and petroleum chemicals ----
Chemicals, unclassified _- ---
Lumber and products--- _--------
Pulpwood --------
Manufactures of iron and steel,
miscellaneous ________ -
Minerals, miscellaneous ---- _____
Asbestos ------_
Ores and metals------___
Ores, miscellaneous ------
Metals -------_~_-_-
Tin, including tinplate ----- _
Other and unclassified ---
Miscellaneous _----------- -----
Paper and products --__-----
All other and unclassified ----
Total- ------
EAST COAST CANADA TO OCEANIA:
Chemicals and petroleum chemicals -----
Chemicals, unclassified-----
Lumber and products---____-- ---_
Pulpwood----- _- _
Other and unclassified ----
Machinery and equipment .
Automobiles, trucks, accessories, and
parts----- __________
Other and unclassified ------- .

Fiscal year

1968
13
13
5

5
6
3
3
24

3
3

2
2

12
12
13
1
12
8
4
54
33
21
81

10
10
2
1
1
21

14
7

1967 1966 1965

8
8
13
13

21

4
4

4

2
2

1
1
5
5

4
11
11
7
7

1
6
55
37
18
83

22
22
3
2
1
14

5
9

10
10
22
22

32

11
11

2
2
13

1
1

1
1
1
1

7
10
10
6
6
2
4
36
21
15
61

15
15
8
7
1
11

7
4

7
7
18
18

11

11
36

4
4
16
16
2
2
22

20
20

1
1

1
9
9
4

4

4
22
9
13
37

22
22
5
4
1
17

13
4

FINANCIAL REPORT AND STATISTICAL DATA

Table 23.-Important Commodity Shipments Over Principal Trade Routes
Atlantic to Pacific-Continued
[Thousands of long tons]

EAST COAST CANADA TO OCEANIA-
Continued
Manufactures of iron and steel,
miscellaneous
Minerals, miscellaneous__________
Asbestos --___________
Nitrates, phosphates, and potash -________
Ammonium compounds_______
Ores and metals _- --
Metals_ __- __ _--- ___________.__ -
Tin, including Tinplate -------
Other and unclassified --_________
Miscellaneous_______________
Paper and paper products ______
All other and unclassified __-_-_____.--
Total---_____ _______
EAST COAST CANADA TO ASIA:
Canned and refrigerated foods -___-_____-
Canned foods, miscellaneous _________
Refrigerated foods, miscellaneous .---
Chemicals and petroleum chemicals -_..____
Chemicals, unclassified_____________
Petroleum chemicals, miscellaneous __

Grains_________ ________________
Corn______ _______________ _
Soybeans ____-------.. -
Wheat --__________________
Other and unclassified----- __ -
Lumber and products -_____ ___-.---____
Pulpwood_______- ---- _____
Other and unclassified ---- __- -
Minerals, miscellaneous ---_____________
Asbestos-- _----- _--____----
Ores and metals ------------------
Ores, miscellaneous ___--------------
Metals _---_ -----__ -----------
Scrap---------_-------__-
Other_--- --------__ ---
Other agricultural commodities ------
Skins and hides------_____________
Miscellaneous___. ________
Paper and paper products
Resin ------___ __
Ruber, manufactured -----
Slag--_---------- ---
All other and unclassified ----________
Total----- --------------- I

Fiscal year
1968 1967 1966 1965

10
24
24
5
5
20
20
11
9
150
116
34
242

6
3
3
6
6

C

I
fi
C
4

I

I

36

36

10
9
1
116
116
354
194
160
139
21
3
3
139
106
4
5

24
670

EAST COAST CENTRAL AMERICA TO WEST COAST
UNITED STATES:
Petroleum and products. 207
Diesel oil--------------- 5)
Fuel oil, residual -__--- --- ----- _---) -
Gasoline------------------- 42

9
23
23

12
12
4
8
[59
131
28
242

17

1
1

8
23
23

5
5
1
4
114
79
35
184

1 1
1 1

6 11
4 9
2 2
113 95
5 3
80 91
127 --
1 1
2 1
2 1

112 65
L12 65
S21 123
L08 108
.13 15
.00 9
13 6
4 6
4 6
116 97
70 51
5 3
7 4
10 21
24 18
91 399

84 24
) )
) )---)
58 18

10
23
23

20
20
14
6
163
114
49
260

7
5
2
140
14
121

5
3
3

86
86
218
55
163
145
18
4
4
133
66
9
6
35
17
592

	Front Cover
	Front Matter
	Table of Contents
	Panama Canal Company
	Canal Zone Government
	Back Cover

MILLISECOND	CLASS.METHOD	MESSAGE
0	sobekcm_page_globals.constructor
0	sobekcm_page_globals.constructor	Application State validated or built
0	sobekcm_database.verify_item_lookup_object
0	sobekcm_page_globals.constructor	Navigation Object created from URI query string
0	sobekcm_database.verify_item_lookup_object
0	sobekcm_page_globals.display_item	Retrieving item or group information
0	sobekcm_page_globals.get_entire_collection_hierarchy	Retrieving hierarchy information
0	sobekcm_assistant.get_entire_collection_hierarchy
0	cached_data_manager.retrieve_item_aggregation
0	cached_data_manager.retrieve_item_aggregation	Found item aggregation on local cache
0	item_aggregation_builder.get_item_aggregation	Found 'all' item aggregation in cache
0	system.web.ui.page.page_load (ufdc.page_load)
0	sobekcm_page_globals.constructor.on_page_load
0	html_echo_mainwriter.add_style_references	Adding style references to HTML
0	html_echo_mainwriter.add_text_to_page	Reading the text from the file and echoing back to the output stream
76	html_echo_mainwriter.add_text_to_page	Finished reading and writing the file