Citation
Annual Report

Material Information

Title:
Annual Report
Creator:
Panama Canal Company
Place of Publication:
Balboa Heights C.Z
Washington D.C
Publisher:
(multiple)
Panama Canal Company
For sale by the Supt. of Docs., U.S. G.P.O.
Publication Date:
Frequency:
annual
regular
Language:
English
Physical Description:
24 v. : ill. ; 23 cm

Subjects

Subjects / Keywords:
Politics and government -- Perodicals -- Canal Zone ( lcsh )
Genre:
serial ( sobekcm )
federal government publication ( marcgt )
periodical ( marcgt )
Spatial Coverage:
Panama

Notes

Dates or Sequential Designation:
5th (1956)-28th (1979)
Issuing Body:
Also issued by Canal Zone Government
General Note:
Cover title
General Note:
Some years accompanied by supplements
Statement of Responsibility:
Panama Canal Company, Canal Zone Government

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
This item is a work of the U.S. federal government and not protected by copyright pursuant to 17 U.S.C. §105.
Resource Identifier:
177519266 ( OCLC )
53060088 ( LCCN )
0475-6126 ( ISSN )
Classification:
CZ 1.1 ( sudocs )

Related Items

Preceded by:
Annual reports of the Panama Canal Company and the Canal Zone Government
Succeeded by:
Annual report

Downloads

This item has the following downloads:


Full Text








PANAMA CANAL


COMPANY


CANAL ZONE GOVERNMENT


ANNUAL REPORT


a


FISCAL YEAR ENDED JUNE 30, 1958


11^























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


http:..www.archive.org/details/annualreportpana1958pana










PANAMA CANAL COMPANY
Balboa Heights, Canal Zone
OFFICE OF THE PRESIDENT
January 5, 1959.
TO THE STOCKHOLDER OF THE PANAMA CANAL COMPANY:
The \year ju'it ended broke all records for number of ships
transition the Panama Canal and tolls collections. A total
o(l 9,466 oceanigo)ing vessels were transported from ocean to
ocean. These ships sailed under the flags of some 36 different
nations of the world.
This record level of traffic was handled with a minimum
of delays to our customers. This accomplishment is es-
pecially significant in view of the fact that the periodic
overhaul of the Pacific locks was performed during this
period.
Work was started on the canal improvements which were
developed and approved in connection with the Short Range
Panama Canal Improvements Study of 1957. These im-
provements are designed to increase the capacity of the
canal to handle the anticipated volume of traffic for the
next decade.
The Board of Directors, through a committee consisting
of three members, continues the studies of longer range
canal requirements. Several elements of these studies,
notably the future traffic projections, have been completed.
Down through the years the Panama Canal has kept
pace with world shipping requirements. It is the intention
of your Board of Directors to keep well ahead of future
demands on the canal by timely recommendations for
needed improvements.
By order of the Board of Directors.



W. E. POTTER,
President.














PANAMA CANAL COMPANY

INTRODUCTION

THE CANAL-A BRIEF DESCRIPTION . . .
ORGANIZATION . . . . .
TOLLS RATES . . . . .
BOARD OF DIRECTORS AND GENERAL OFFICERS . .
COMPARATIVE TABULATION OF HIGHLIGHTS OF OPERA-
TION ... . . ...
SUMMARY-PANAMA CANAL COMPANY OPERATIONS.
Canal traffic . . . . .
Financial results . . . .

CHAPTER I-REVIEW OF CANAL TRAFFIC


OCEANGOING TRAFFIC . .
OTHER TRAFFIC . . .
COMMERCIAL TRAFFIC HIGHLIGHTS .
PRINCIPAL TRADE ROUTES .
NATIONALITY OF VESSELS . .
CARGO STATISTICS . .
TRANSIT AVERAGES . .
DATA IN STATISTICAL CHAPTER .

CHAPTER Il-THE WATERWAY
TRANSITING OF SHIPS . .
LOCKS OPERATION . ...
WATER SUPPLY . . .
MAINTENANCE OF CANAL CHANNEL


REPLACEMENT OF LOCKS TOWING LOCOMOTIVES .
CANAL IMPROVEMENT PROGRAM . .
MARINE TRAFFIC CONTROL . . .
CLOSING OF GAS MANUFACTURING FACILITY .
FERRY SERVICE . . . .

CHAPTER Ill-SUPPORTING OPERATIONS

EMPLOYEE SERVICES . . . .
Supply and Community Service Bureau .
Supply Division . . .
Procurement Division . . .
Community Services Division . .


Page
1
1
2
3


S 18
20
21
22





CONTENTS


CHAPTER Ill-SUPPORTING OPERATIONS-Continued
Page
TRANSPORTATION AND UTILITY SERVICES . .. 28
Railroad operations . . . 28
Motor transportation . . . 29
Steamship operations . . . 29
Electrical power system . . . 30
'Communications system . . . 30
W ater system . . . 31
Printing plant . . ... .. 31
Vessel repairs . . . ... 32
Harbor terminals operation . . 32
PRINCIPAL ENGINEERING AND CONSTRUCTION PROJECTS 33
Bridge, Balboa, C.Z. . . . .. 33
Sixty cycle power conversion program . 34
Phase I of increased dependable capacity of the
locks . . . . . 34
Miscellaneous and other projects . . 35
Operations, and capital construction by contract 35
CHAPTER IV-ADMINISTRATION
MAJOR ORGANIZATIONAL CHANGES . . 37
MAJOR PERSONNEL CHANGES . . . 37
FORCE EMPLOYED AND RATES OF PAY . . 38
EMPLOYEES PAID AT U.S. RATES . . 39
Turnover in force ... . . 39
Recruiting . . . . 39
W ages . . . . . 39
EMPLOYEES PAID AT CANAL ZONE WAGE RATES 40
W ages . . . . .. 40
Cash relief for disabled employees . .. 40
Repatriations . . . . 40
Separations . . . . 40
INCENTIVE AWARDS . . . . 41
SAFETY PROGRAM . . . . 41
LEGISLATION . . . . . 43

CHAPTER V-FINANCIAL REPORT AND STATISTICAL DATA
FINANCIAL STATEMENTS AND RELATED SUPPLEMENTARY
REPORTS
NARRATIVE STATEMENT . . . . 44
Source and application of funds . . 44-
Financial operating results . . . 45
Net direct investment of the U.S. Government . 45
Retained revenue . . . . 45





CONTENTS


CHAPTER V-FINANCIAL REPORT AND STATISTICAL DATA-
Continued
Financial Tables
Page
TABLE. 1.-Statement of financial condition . .. 46
Notes pertaining to financial statements 48
T.ABLE 2.-Statement of equity of U.S. Government 50
TABLL :3.-Statement of revenue and expenses . 51
T.ANBL 4.-Statement of revenue and operating expenses,
Cainal operation . . 52
TIABLE -..-Statement of revenue and operating expenses,
Supporting services . . . 53
T.\BLE 6.-Administrative and other general expenses 54
T. B LL 7.-Inventories . . . .. 55
TABLE 8.-Changes in fixed assets and related allowances for
depreciation and economic valuation . 56
TABLE 9.-Comparative statement of financial condition 62
TABLE 10.-Comparative statement of revenue and expenses. 63
TABLE 11.-Statement of changes in equity of the U.S. Govern-
m ent . . . . 63
Shipping Statistics
TABLE 12.-Ocean traffic through Panama Canal, fiscal years
1948-58 . . . . 64
TABLE 13.-Traffic by months, fiscal years 1957 and 1958 65
TABLE 14.-Canal traffic by nationality of vessels . 66
TABLE 15.-Classification of canal traffic by type of vessel. 67
TABLE 16.-Laden and ballast traffic by nationality of vessel. 69
TABLE 17.-Frequency of transits of vessels through Panama
Canal. ...... ... ........ 70'
TABLE 18.-Segregation of transits by registered gross ton-
nage . . . . 72
TABLE 19.-Principal commodities shipped through canal. 73
TABLE 20.-Origin and destination of cargo through the Pana-
ma Canal from Atlantic to Pacific segregated
by countries in principal trade areas . 75
TABLE 21.-Origin and destination of cargo through the Pana-
ma Canal from Pacific to Atlantic segregated by
countries in principal trade areas . 78
TABLE 22.-Cargo shipments by trade routes-Atlantic to
Pacific . . . . 81
TABLE 23.-Cargo shipments by trade routes-Pacific to At-
lantic . . . . 84
TABLE 24.-Important commodity shipments over principal
trade routes-Atlantic to Pacific . .. 88
TABLE 25.-Important commodity shipments over principal
trade routes-Pacific to Atlantic . 98
TABLE 26.-Small vessels transiting canal . . 109






CONTENTS



CHAPTER V-FINANCIAL REPORT AND STATISTICAL DATA-
Continued
Other Statistics
Page
TABLE 27.-Water supply and expenditures . . 110
TABLE 28.-Dredging operations . . . 110
TABLE 29.-Electric power generated . . 111
TABLE 30.-Number of full-time employees paid at U.S. rates 111
TABLE 31.-Number of full-time employees paid at Canal
Zone wage rates. . . .. 113





CONTENTS


CANAL ZONE GOVERNMENT


Letter of Transmittal . .
Introduction . . .
Canal Zone Government .
Organizational changes . .
Major personnel changes .
CHAPTER I-PUBLIC HEALTH
Sanitation . . .
Preventive medicine . .
School health . . .
Quarantine . . .
Veterinary activities . .
Hospitals and clinics . .
CHAPTER II-PUBLIC EDUCATION
General description . .
Enrollments ..........
Special education . .
Plant . . . .
Library-Museum . .
CHAPTER Ill-PUBLIC ORDER AND P
Police activities . .
Court activities . .
Pardon board . . .
Fire protection . . .
Civil defense . . .


Page
. . . 115
. . . 117
. . . 117
. . . 117
. . . 117


. . . 119
. . . 120
. . . 120
. . . 121
. . . 121
. . . 122


PROTECTION


CHAPTER IV-POSTS, CUSTOMS, AND IMMIGRATION
Postal system . . . . .
Customs, immigration, and shipping commissioner serv-
ices . . . . . .
V isas . . .. . . .
CHAPTER V-LICENSES, INSURANCE, AND ESTATES
L licenses . . . . . .
Insurance . . .. . ...... .
Administration of estates . . . .
Foreign corporations . . . .
CHAPTER VI-MUNICIPAL IMPROVEMENTS
Roads, streets, and sidewalks . . .
Maintenance of quarters, hospitals, and public buildings .
Sewer system . . . . .


131

132,
132


133
133
134
134


135
135
135





CONTENTS


CHAPTER VII-FINANCIAL REPORT AND STATISTICAL DATA
Financial Statements and Related Supplementary Reports
Page
NARRATIVE STATEMENT . . . . 136
Invested capital . . . . 136
Capital additions . . . . 137
Financial results . . . . 137
TABLE 1.-Statement of financial condition . . 138
TABLE 2.-Statement of changes in equity of U.S. Govern-
m ent . . . . 1411
TABLE 3.-Statement of operations . . .. 141
TABLE 4.-Changes in fixed assets and related allowances for
depreciation and economic valuation . 142
STATISTICAL DATA .. . . . 144
Personnel data . . . . 144
Area of the Canal Zone .............. 145

Illustrations
Chart-Panama Canal tolls . . . 5.
Chart-Oceangoing transits . . . 8
Photograph-SS Santa Mercedes making 200,000th commercial
transit of canal . .. faces page 10
Chart-Traffic moving over principal trade routes .. 13
Chart-Nationality of transiting vessels . . 15-
Photograph-The Vanda, of Honduran Registry, completed
50 transits during fiscal year 1958 . ... faces page 11
Photograph-Tanker SS Gulfking in transit at Pedro Miguel
Locks . . . . faces page 20(
Photograph-Repairing Culvert Failure in East Chamber,
Pedro Miguel Locks . . . faces page 21
Photograph-Suction dredge Mandinga placed in operation
November 1957 . . . ... faces page 22
Photograph-Architectural rendering of bridge to span canal
channel at Pacific entrance . . faces page 23
Chart-Panama Canal Company organization . faces page 38
Photograph-Hon. George H. Roderick presenting "Award of
Honor" to Governor Potter . ... faces page 42
Chart-Canal Zone Government organization. ficees pege 144










THE CANAL
Thlie Piianrn.i Cnal i a In:.k-type canal that connects the Atlanti-:
anil the Puaihri- c :'r-eanS through the Isthmus of Panama, tiravert;ing a
distairnce of appixtilnately 51 miles from deep water to deep water.
In the il'edged channel, the canal has a minimum width of 300 feet and
a minimum depth of 42 feet. The greatest part of the canal channel
is at the level o'f (Gatun Lake, the surface of which is normally 85 feet
above sea level. In transiting the canal a ship is raised in three steps
frormi sea level to the level of Gatun Lake, and subsequently lowered
in three steps to sea level at the other side of the isthmus. The six
steps or flights of locks are in duplicate, to enable simultaneou- loi:k-
alge of two ships transiting in the same direction or of ships paszitig in
opposite directions.
The past fiscal year marked the completion of 44 years of successful
operation of the canal. The canal was opened on August 15, 1914,
and has served world commerce without major interruption since
fiscal year 1916, when the last canal-closing slide occurred in Gaillard
Cut at the Continental Divide. A total of 274,529 vessels of all types
have made the canal transit, of which 206,734 were oceangoing com-
mercial vessels plying the various channels of world trade. The
service provided by the canal has, moreover, been of incalculable value
to the United States and her allies in time of war.
ORGANIZATION
The Panama Canal Company Act, which created the Panama Canal
Company and defined its basic purposes, organization, rights, powers,
and obligations, constitutes article 3 of chapter 12 of Title 2, Canal
Zone Code, consists of sections 245 to 258 of Title 2, Canal Zone Code,
and was enacted by the act of June 29, 1948 (62 Stat. 1076), as
amended by the act of September 26, 1950 (64 Stat. 1041). This act
became effective on July 1, 1951, pursuant to the provisions of Execu-
tive Order 10263 of June 29, 1951. In its capacity as owner of the
Comnparny, the U.S. Government is represented by the Secretary of
the Arm), referred to as "Stockholder," in his individual capacity as
the personal representative of the President of the United States for
such purpose. The Company operates under the management of a
Board of Directors appointed by the Stockholder. The Company is
charged with the maintenance and operation of the Panama Canal
and tlhei condu.t of the business-type operations incident to such
rmiaintii.nane amid incident. to the civil government of the Canal Zone.
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 interrelated in mission, organization, and oper-
ations. The combined function of these agencies is the administra-
tion of the Panama Canal enterprise as a whole. The Governor of the
Canal Zone, who is charged with the administration of the Canal Zone





INTRODUCTION


Government, under the supervision of the Secretary of the Army, is
ex officio a director and President of the Company.
The Panama Canal Company is expected (a) to recover all costs of
operation and maintenance of its facilities, including depreciation; (b)
to pay interest to the Treasury on the net direct investment of the
Government in the Company; and (c)-to reimburse the Treasury for
(1) the annuity payments to the Republic of Panama under the con-
vention of 1903 as modified by the treaty of 1936 between the two
governments, and (2) the net costs of operation of the Canal Zone
Government, including depreciation on fixed assets. The interest
rate for the fiscal year 1958, as set by the Secretary of the Treasury,
was 2.482 percent. The Board of Directors is required to appraise,
at least annually, the Company's working capital requirements, to-
gether with reasonable foreseeable requirements for authorized plant
replacement and expansion, and to pay into the Treasury as a repay-
ment of capital the amount of any funds in excess of such requirements.
All funds other than working balances are carried with the U.S.
Treasury.
The activities of the Company are classified under two major head-
ings, namely: (a) the canal and (b) supporting operations. Category
(a) embraces those functions directly related to the waterway and
the transiting of ships and to services to shipping, including mainte-
nance of the canal channel, maintenance and operation of the locks,
meteorology and hydrographic services, and a ferry service across the
canal at Balboa. The supporting operations include vessel repairs,
and harbor terminal operations, a railroad across the isthmus, a steam-
ship line operating between New York and the Canal Zone, motor
transportation facilities, storehouses, an electric power system, a com-
munications system, and service activities that are essential to em-
ployees' needs including the operation of quarters, retail stores, and
service centers.
TOLLS RATES
The rates of canal tolls remained unchanged during the year. These
rates are as follows:
(a) On merchant vessels, Army and Navy transports, tankers, hos-
pital ships, supply ships, and yachts, when carrying passengers or
cargo: 90 cents per net vessel-ton of 100 cubic feet of actual earning
capacity-that is, the net tonnage 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 r(.ntts
per net vessel-ton;
(c) On other floating craft: 50 cents per ton of displacement.
Tolls charges for the canal remain substantially at the level estab-
lished in 1912 in anticipation of the completion of the construction of
the canal.





PANAMA CANAL COMPANY 3

BOARD OF DIRECTORS AND GENERAL OFFICERS OF THE PANAMA
CANAL COMPANY AS OF JUNE 30, 1958
Board of Directors
lIon. VWILBER M. BRUCKER, Secretary of the Army, Stockholder


Hon. George H. Roderick, As-
stantu i S..cretary of the Army,
Chalirianu of the Board.
John H. Blaffer.
Robert P. Burroughs.
Ralph H. Cake.
Maj. Gen. Glen E. Edgerton,
USA (Ret.).
John W. Martyn


Howard C. Petersen.
Maj. Gen. William E. Potter,
USA.
Charles S. Reed.
Ogden R. Reid.
Maj. Gen. Julian L. Schley,
USA (Ret.).
Ralph A. Tudor.


General Officers
GEORGE H. RODERICK, Chairman of the Board.
Maj. Gen. WILLIAM E. POTTER, USA, President.
Col. HUGH M. ARNOLD, USA, Vice President.
PHILIP L. STEERS, Jr., Comptroller.
WILLIAM M. WHITMAN, Secretary.

COMPARATIVE TABULATIONS OF HIGHLIGHTS OF OPERATIONS


Net income ------------------------ -------
Number of oceangoing transits:
Commercial ------------------------------
U.S. Government---------------------------
Total------------------------------------
Tolls earnings (including small vessels):
Commercial--------------------------------
U.S. Government-----------------------...----
Total----------------------------------
Total cargo transiting (long tons)----------------
Lockages:
Gatun. ---------------------------------
Pedro Miguel------------------------------
Miraflores -----------------------------
Terminals operations (tons of cargo handled, trans-
ferred, and stevedored at piers) -----------------
Oil handling (number of barrels pumped) ----------
Maintenance of channel (cubic yards dredged) ......
Number of full-time company employees (as of
June 30):
U.S. rate---------------------------------
Canal Zone rate----------------------------
Total Company employees .--------------


Fiscal year
1958 1957
$2,826, 381 $3, 821,456


9, 187
279
9, 466

41, 843, 525
990, 481
42, 834, 006
48, 934, 829
8, 548
8, 815
8, 655
1, 833, 087
16, 410, 902
5, 156, 700


2, 755
8, 391
11, 146


8, 579
269
8, 848

38, 513, 404
1, 140, 116
39, 653, 520
50, 649, 835
8, 053
8, 260
8,244
2, 049, 605
16, 948, 273
5, 010, 600


2, 697
8, 154
10, 851





4 INTRODUCTION
SUMMARY
Panama Canal Company Operations
Canal traffic.-Commercial transits and tolls reached an alltime
high record in 1958. For the seventh consecutive year tolls paid on
such vessels exceeded previous records. Total oceangoing transits in
fiscal year 1958 advanced to 9,466, and tolls revenues from oceangoing
ships to $42,768,015, gains of 7 percent and 8 percent, respectively,
over the previous year.
This record level of traffic was handled with a minimum of delay to
shipping customers. The accomplishment is especially noteworthy
in view of the fact that the periodic overhaul of the Pacific Locks,
comprising two out of the three sets of locks, was performed during
the fiscal year period.
Cargo moving through the canal totaled 48,916,119 long tons, the
second highest tonnage in the history of the canal, and only 3 percent
below the alltime high established in 1957.
Commercial traffic comprised 94 percent of the combined com-
mercial/Government total in 1958. Oceangoing commercial transits
of 9,187 exceeded by 7 percent the record of 8,579 established in 1957;
commercial tolls collected amounted to $41,795,905, a gain of 8.7
percent, while commercial cargo totaled 48,124,809 long tons, 3 per-
cent under the previous year.
Of the total cargo transiting in commercial bottoms during the
year, 23,580,878 long tons moved from the Atlantic to the Pacific,
a decrease of 7 percent under the tonnage moving in that direction in
1957. The Pacific-to-Atlantic volume totaled 25,354,239 long tons,
a gain of about 5 percent over 1957.
The grand total of transits for the year by all classes and sizes
of tolls-paying vessels was 10,553.
During the month of March 1957, oceangoing traffic through the
canal established a record high total of 840 transits, the highest month
in the history of the canal. In October 1957, the second highest
total, 836 transits, were recorded. Further records established in
fiscal year 1958 included total tolls revenues of $42,834,006, while
cargo movements totaling 48,934,829 long tons were the second
highest in the canal's history.
One of the significant features contributing to the increase of
commercial traffic during the year was the abnormal rise in the number
of vessels transiting in ballast. An appreciable increase was noted as
early as the close of the first quarter, in the number of tankers, (arg'
vessels, and ore carriers transiting without cargo. The increase in
ballast tonnage of tankers is due principally to the heavy movements
of Venezuelan and West Indies mineral oils through the canal to the
Pacific, with tankers returning empty. The newly built bulk carriers
of large capacity have stimulated movements of oil and ores, and
usually go one direction in ballast. Most of the ballast tonnage is
normally attributable to general cargo vessels and consists of fruit
ships returning empty to the banana ports of Central and South
America; however, an increasing number of dry-cargo vessels moved
through the canal with empty holds during the past year. This
situation is indicative of reduced cargo movements, low charter
rates, or a combination of both of these factors.








U S GOVERNMENT
E COMMERCIAL


z
PANAMA CANAL TOLLS
FISCAL YEARS 1948-1958
MILLIONS p
.... a,
:''B 40 s

.E.'. ..... FF' .SB Tl'::: z
il .s.l ^ .:. ,:;:... ,,


1948 1949 1950
.uC E # E.uTI. P* ~ idr' r4






6 INTRODUCTION
Financial review
It is again a pleasure to report that the Panama Canal Company has
finished another year without cost to the American taxpayer, thus
completing 7 successive years of operation without loss since its re-
organization on July 1, 1951.
As to dollar volume of traffic, fiscal year 1958 was the best in the
history of the Panama Canal. Gross tolls amounted to a record $42.8
million.
Revenues exceeded expenses by $2.7 million for the year, after
provision for (1) payments to the U.S. Government of $20 million
covering interest, net cost of the Canal Zone Government, and
annuity payments to the Republic of Panama; and (2) retroactive
costs of approximately $1 million for various wage increases granted
toward the close of the year or during the first quarter of fiscal year
1959. Expenses do not reflect depreciation charges against certain
assets (historically classified as nondepreciable), such as the excava-
tion of the canal channel and other similar items valued at $282.1
million.
We are pleased to report that the Company's financial statements
for fiscal year 1957 have been certified by the Comptroller General of
the United States. This certification was made possible as a result of
approval by the Director of the Bureau of the Budget of the valuation
of certain assets included in the U.S. Government's net direct invest-
ment in the Company, final disposition of a major lawsuit involving
toll rates, and the satisfactory results of an independent audit made
by the General Accounting Office.
Financial statements and comments appear in chapters 5 and 7,
respectively.










It EIEW OF CANAL TRAFFIC

OCEANGOING TRAFFIC 1

Another significant story in Panama Canal traffic records became
apparent as early as March 195S. At the close of the fiscal year
the number of oceangoing transits, the net tonnage of vessels, and
the receipts for tolls from vessels transiting the canal exceeded those
in any preceding year in the history of the canal operations. This
marked the seventh consecutive year that new records have been
established for commercial traffic using the waterway.
The number of commercial ships transiting the canal averaged 25.2
per day, and for the first time such transits exceeded the 9,000 mark
for a single year, recording a total of 9,187 transits for this fiscal
period. A grand total of 9,466 oceangoing vessels made the passage
during the year; of these, 9,187 were of strictly commercial types,
and the other 279 were U.S. Government owned or controlled vessels.
Flags of 36 nations were flown over the commercial ships transiting,
for which the Panama Canal Company received $41,795,905 in tolls
for services rendered; in addition, $972,109 was received in tolls
credits from the U.S Government vessels. The $42,834,000 paid
and credited in tolls during the year marked the first time in the
history of the waterway that such income has exceeded the $40
million total. This is an increase of 8 percent above the previous
year's figures. U.S. owned or controlled vessels that transited during
the year were at their lowest level since 1940. This was the first
year since 1940 that income from this classification of ships fell below
$1 million.
Commercial cargo tonnage passing through the canal failed by
1,577,391 long tons of equaling the record established during the
previous year. However, the 48,125,000 long tons of commercial
cargo transiting did establish the second highest tonnage in -the
history of the canal. The Pacific-to-Atlantic flow of cargo regained
its first-place position and established a new record with 25,281,508
long tons of cargo. On the other hand, the Atlantic-to-Pacific
movements of cargo were 10 percent below the volume that moved
in this direction during the previous year. This decline is attributed
to a sharp reduction in shipments to Japan which were down by some
2,240,000 long tons from the previous fiscal year. Scrap metal ship-
ments to Japan were 965,000 long tons lower than in the previous
year, accounting for a large part of this decline.
The declining movement of cargo to Japan contributed significantly
to the fact that the volume of U.S. exports that passed through the
waterway was some 2,777,000 long tons short of the volume which
transited the canal during the previous 12-month period. Some
17,867,000 long tons of cargo transiting the canal this fiscal year
originated in the United S'iit1-s, and import tonnage to the United
1 Vessels of 300 tons and ov. r 1 ta n i rnal measurement) for vessels rated on net tonnage, or of 500
tons, displacement and over : -- .. i. ri- -I on displacement tonnage (naval vessels, dredges, etc.).























SOURCE. EXECUTIVE PLANNING STAFF


OCEAN- GOING TRANSITS
FISCAL YEARS 1948-1958
THOUSANDS
OF
TRANSITS
10
9
.. -------------------------------- 104









0
1952 1953 1954 1955 1956 1957 1958
-II





PANAMA CANAL COMPANY


State.- wln,.h pan.ed through the -a nal during the year established
a n1ew 1igh of ,oIme I,.it'ii.i UI long tons, a gain of 13 percent above
lthe p'rx'viOu N, y:.ir.
TIe," inireasii! si7.ie of i.'om iner il P sliiph ii ng th-,* Panlilnii Canal i.
briii 'g iin- ,,r,:-iiiglv large_-r .toll, per transit. In tii-:, ye.ur 1''52.
the avi,rage aiimount *,,ll.,'-ie,'l p.tr tr:,i. it was $4,127; during aisc l
yar 1'.",'. liii. p,:I' trii'.il t "l',r g-* ri.r-ased to $4 .54:1. The grrowt i
in largi.r ship- i- prI ,ahnbly bIct Ii ll -tr io.-d by the !;,,.t I t in I .: 1c .
silps trai- nIiti ng te .. anal in a Aingle ye'ar with beams of 86 feet or
greater hive in:rea-,.-d front, 13 such:l hips to a total of 109 for the
vyjir just .(ir :ld.:,l. (Clea -iiiut ti.aiits have increased from 696 in
1"1.15 to l,,i'?7 in l'-:',, or .716 percent This type of transit is of sig-
niti.:;int impFortainric: bIc.nu- c ,of it,; effect on the capacity of the canal.
The .lv,:ra ocL-',iIgoniig ommiriicr'ial ve-ssel transiting was slightly
larger tharin i pr..viouc y-e;ar., av-..ragitlg 5,221 Panama Canal net
\e(,.il ii s uin iomp.tr'i.ni with l!t .'.,,i55 average in 1957.
A ialulutitili ,,f ihe four princiipal features of traffic for the fiscal
y,..,,rs 1 'S, 1.l.",7, anl 1';.d ib- .hl.n i below :
Fiscal year
1968 1957 1956
Number of oceangoing transits ----- 9,466 8, 848 8, 475
N ,r.?nt .---------------------- 49, 110, 351 45, 018, 760 42, 685, 742
C rre., I I...g Lous .:.f 2,2411 p,"iiiil- -.. 48, 916, 119 50, 624, 373 46, 269, 163
T-ll- .1 il, ll.- tr.in ------.. ------- $42, 768, 015 $39, 561, 595 $37, 369, 533
OTHER TRAFFIC
In addition to the oceangoing vessels, 1,087 small craft of less than
.100 net tons, Panrma Canal measurement (or under 500 displacement
tonts .In ve;,.ls Icssesc,.d on displacement tonnage), transited the canal
during licril, y,'r 19':,. Transits of these small vessels have but slight
effect o,, w,,rkloadc and tolls revenue volume, and are generally ex-
dluded fr,n analysis of canal operations. Also excluded from the
pri, eding ttble are slitistics on 55 vessels exempted from tolls charges,
including vessek owned, operated, or chartered by the Government of
the Republi of Panama., war vessels of the Republic of Colombia, and
vessels transiting the canal solely for repairs at the Panama Canal
-iorops. Further details or, thiL traffic will be found in table 26, chapter
V, page 10l).

COMMERCIAL TRAFFIC HIGHLIGHTS
In (October 1':.57, the Gracie liner Santa Mercedes, made the
200,000Ithl commercial transit of the waterway, less than 8 years after
thle SS Vt',mai/i7t of the American Hawaiian Line became the
1.'5,0O00th ci.Itonme.r, April 26, 1951. It was on October 10, 1938, that
the.' Stil Export, operated by the Isthmian Steamship Line, made the
liui0l._.i-lth transiit of tIhe anal.


495687-59---2





10 REVIEW OF CANAL TRAFFIC
PRINCIPAL TRADE ROUTES
Approximately 79 percent of the commercial traffic served by the
Panama Canal in fiscal year 1958 moved over eight main routes of
trade. The table below shows the net vessel tonnage (Panama Canal
measurement) moving over these routes in fiscal year 1958 and 1957,
with the percentage change between the 2 years.
Fiscal year
1958 1957 Percent in-
(In thousands of Panama crease or
Trade route Canal net tons) (decrease)
East coast United States/Canada and Asia ...--------- 9, 282 9, 232 0. 5
East coast United States and west coast South
America------------------------------------ 8,421 6,739 25.0
Europe and west coast United States/Canada------ 5, 386 4, 685 15. 0
Europe and west coast South America ------------- 4, 566 4, 040 13. 0
United States intercoastal ----------------------- 3,675 3,282 12.0
Europe and Oceania ---------------------------- 3,014 3,698 (18.5)
East coast United States and west coast Central
A merica/Mexico ------------------------------ 1,815 1,383 31. 2
West coast United States and east coast South
America------------------------------------- 1,769 1, 140 55.2
All other --------------------------------------. 9,996 9,429 6.0
Total ----------------------------------- 47, 924 43, 628 9.8
An increase of 9.8 percent is shown in the volume of net vessel ton-
nage transiting the canal this fiscal year over the previous year, with
the highest volume change in shipments occurring again in the east
coast United States and west coast of South America trade.
All the.major routes ranking in position 1 to 8 maintained their
status in the lineup of principal trade routes served by the canal. The
east coast United States and west coast South America area, which
retained its second position in importance among the routes, shows the
highest percentage gains in both net tonnage and cargo movements.
Some gains were reflected on each of the other trade routes with the
exception of the route between Europe and Oceania, on which net
tonnage declined by 684,000 net tons, or 18.5 percent. The greatest
net tonnage gains recorded were in the tonnages between the east coast
United States and west coast of South America, up 1,682,000 tons, or
25 percent, and between Europe and west coast United States/Canada,
which increased by 701,000 tons, or 15 percent.
A brief discussion of shipping engaged in these trade routes is given
in the following paragraphs:
East coast United States/Oanada-Asia.-Traffic in these two impor-
tant areas retained first-place position for the seventh (,rccu:luti\-
year among the various trade routes served by the canal. The volume
of net tonnage used on this route, Panama Canal measurement, estab-
lished a new high, however, the volume of cargo moving between the
two areas was 18 percent below the previous year, yet accounted for
some 42 percent of all the Pacific-bound cargo. Again, Pacific-bound
traffic accounted for the majority of the net tonnage, forming 67
percent of a total of 9,282,000 net tons. Substantial losses were sus-
tained in cargo shipments in the east-to-west movement, principally in
rice, ammonium compounds, iron and steel manufactures, scrap and
various other metals, and phosphates. The decrease in scrap iron ship-
ments alone accounted for some 980,000 long tons. On the other hand,
noticeable increases in this direction were made in exports of corn, up









I 7
!


I


4.9
I


p


TI


SS "Santa Mercedes" Making 200,000th Commercial Transit of Canal.






































The "Vanda," of


Honduran Registry, Completed 50 Transits During Fiscal Year 1958.





PANAMA CANAL COMPANY


19lt0,0 long tons, ?syiieans increased by 121,000 long tons, with
whelt hl.-girning a ;1ub.uitiil movement for the first time since 1955.
In thr- ,tiher mwvenment, w.:-t to east, a decrease of some 282,000
loig tnii wais esx[p,,ri:.ncd ,i:in.-r the 1957 period, with lo s--e in ship-
munts of :-.rniiie aore n:md ;-.igr predominating and accounting for
232.000 ton, or 82 pri. tit -if thie total tonnage lost.
Eai i ,4,,tt Uni'f, Stall -rt,.'i ., ast South America.-For the seventh
con-..it iv,. y"-.ar thl[ii u,iJr1, rout'- continued its spectacular rise in all
ih:,i f .. f 11hippiigi, ;inid h1-hld its -zocond-ranking position in importance
ti, the Painama Canal. The net tonnage moving over this route in-
-r;,-.>. irn r v.ais. ,-vr the volume moving during the preceding year. This is
thi.: minit im[r-,sive gain among the various trade routes. It is over
this lane that the large quantities of essential raw materials such as
th- v:irnmus n; ie flow to the industrial areas of the United States.
UIzualy, the volume of net tonnage totals approximately the same in
elu(i1 dire.:-tirn. but during this fiscal year west-to-east movements
Fx:..eded eient-to-west by 590,000 tons. Eighty-four percent of the
.:rgo t'nngrig.: moved west to east during this fiscal year, an increase
of 24 percent, despite the existing business recession in progress in
the llnier.d States. Shipments of iron ore, up by 1,313,000 long tons
Ir'm iIth. previous year, showed the most significant commodity in-
irat.v, amounting to 33 percent. Slight increases over last fiscal
ypi:r w-r noted in shipments of bananas, coffee, and sugar.
Erro.', and west coast United States/Canada.-This major route con-
tinutii to rank third in importance for the seventh consecutive year,
a.--ountin-z for a total of 5,386,000 net vessel tons and showing a gain
of 15 per,:'-int o:v.r last fiscal year. Movements of cargo in this trade
are pri:-dorniri:,iitly eastbound and this year's movement in that direc-
tioin fOirnii-,il S5 pi.rcent of the total cargo exchanged by the two regions.
Total cargo moving in the trade, amounting to 6,015,000 long tons,
slu: d n i sli-ht gain of less than 1 percent. Two commodity groups-
lunmbir .,ml harley-made up 31 percent of the 5,126,000 long tons of
,rg- ,Lipp.li eastward, showing gains of 41 percent and 56 percent,
rspieti.-ly, over such shipments last year. Wheat, for years one
of the most important commodities shipped in appreciable quantities
in the trade, sustained a decided decrease of 552,000 long tons this
period, or 23 percent under last year's total of 2,394,000 long tons.
Eto f','' and west coast of South America.-Net vessel tonnage in this
ro-itrt, the fourth-ranking one, was up by slightly more than 500,000
net tons. This is a gain of 13 percent over the preceding fiscal year,
when a 10-percent increase was registered in the net tonnage utilized
ov'.'r hti route. Coupled with this continued gain in net tonnage
volume, of course, is the phenomenal increase in vessels being em-
ployed to transport the increasing volume of goods exchanged be-
tween the t'wo areas.
Althoiuglh the volume of goods exchanged between the areas this
~'i\\. \:,ar continued to rise, a total of 3,694,000 long tons being
recorded in comparison with 3,590,000 tons last year, the 1958 period
shows the slightest iinirea.se in tons of cargo since 1954 when only
2,025,000 tons was exchanged in the trade. As in past years, the
movement of cargo was predominantly west to east which this year
a:.:-..unted for 79 percent of the total cargo moved over the route.





REVIEW OF CANAL TRAFFIC


Despite the business recession in progress, which is being felt especially
in world commerce, raw materials obtained from the west coast of
South America for European industries continued to show increases.
Again, as in fiscal year 1956, a very slight decrease in cargo shipments
is recorded in the east to west direction, down by 2 percent over 1957
figures.
The most important percentage increase in commodity shipments
over the route occurred in bananas, up by 73,000 long tons, or an
increase of 37 percent. Shipments of nitrate of soda ranked second
in importance of increases with 502,000 long tons, or a rise of 35 per-
cent in comparison with 373,000 long tons in 1957. Iron ore moving
from western South America to European ports again showed a slight
gain over last year, utilizing 1,064,000 long tons to compare with the
1,009,000 tons in 1957.
Western Germany continued to be the principal recipient of east-
ward-bound cargo, receiving 964,070 long tons, a gain of 35 percent
over last year. The Netherlands ranked in second place, receiving
650,974 long tons, while Great Britain was third with 438,773 tons.
Belgium and Germany were again the principal suppliers of westward-
bound cargo, with Belgium exporting some 205,000 long tons and
Germany 185,000 tons.
A 69-percent increase in the number of vessels operating in these
trade areas is shown within the past 5 fiscal years. From a total of
562 in 1954 to a total of 949 in 1958, there was a total of 387 ships
added in the trade with the largest single addition of 114 craft occur-
ring in fiscal year 1958. This is an increase of 39 percent in vessels
over the fiscal year 1957.
United States intercoastal.-Retaining its position of fifth place in
importance in canal commerce is the trade between the Atlantic and
Pacific coasts of the United States. During the period of 1958 over-
all increases were experienced in all phases of shipping over this route
which recorded more vessels plying in the trade, more net vessel tons
and cargo tonnage, as well as more tolls collected than was the case
in fiscal year 1957. Net vessel tonnage in fiscal year 1958 totaled
3,675,000 tons, an increase of 393,000 tons over last year. The
unusually heavy volume of residual oils moving from California dur-
ing the last quarter of the fiscal year was primarily responsible for the
increase, a total of 470,000 net tons moving in 50 tankers during the
3-month period. Total net vessel tonnage in the tanker class in this
route amounted to 980,808 tons, up 64 percent over the total of 597,982
tons last year. The remaining net tonnage of 2,694,000 tons crn-
sisted of dry cargo type vessels.
Despite the heavy increase in oil shipments of some 279,000 long
tons, and a substantial increase of 174,000 tons of unclassified chemi-
cals during the period, only a slight overall gain of 90,000 tons was
recorded in cargo movements. Such gains in oils and chemicals were
offset by heavy losses in shipments of iron and steel products, a pre-
dominant east-to-west trade, down 29 percent from the 1957 fiscal
period. Lumber, moving in the opposite direction, contributed a
decrease of 97,000 long tons in cargo, a decline of 7 percent from the
period last year.


















iI&" E P4,T:'^ ,



UNITED STATES
PiTEFC.-.'- '-L

EASI COAST U.S
WEST COAST
SOUTH AMERICA

:u; : A P E COAST
US /CANADA






EUROPE- -u:'-"L :-ia


EAST COAST SOUTH
AMERICA-WEST COAST
U S. / CANADA

E : T INDIES- WEST
:3' T SOUTH AMERICA



tLL OTHER


TRAFFIC MOVING OVER PRINCIPAL TRADE ROUTES

Fi","'.L iEA R I? A6"UD ID 57

TrIC.SariDS O'F LOrIG TOri .- F ,".r,,

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ATLANTIC TO PACIFIC

PACIFIC TO ATLANTIC





14 REVIEW OF CANAL TRAFFIC
Europe and Oceania.-Reflecting a trend to return to a somewhat
more normal status, consistent with commerce prior to the closure of
the Suez Canal, this route is the only one out of the eight major trade
routes showing an overall decrease. Statisticalwise, 95 fewer vessels,
684,000 fewer net vessel tons, 757,000 fewer long tons of cargo, and
$609,289 less in tolls were derived from these areas during fiscal year
1958 in comparison with the 1957 period. Sustained losses of 20
percent occurred in ships using the route, some 19 percent occurred
in net vessel tons, and a 26 percent reduction was felt in total cargo
moving over the lane.
Principally a west-to-east movement, this route saw a decline of
760,000 long tons of cargo from the 1957 period, down 39 percent,
while a very minute gain in tonnage was shown in the opposite direc-
tion for the period. The cargo losses occurred among the most usual
commodities shipped to European ports, consisting of copra, dairy
and meat refrigerated products, phosphates, sugar, and wool.
East coast United States and west coast Central America/MAexico.-
Traffic routed between these two areas in fiscal year 1958 recorded a
percentage increase of 31 percent in volume of net vessel tonnage.
This was the second highest percentage gain in net tonnage during
the fiscal period. Holding its position as seventh ranking in impor-
tance, the trade accounted for 1,815,000 net vessel tons, or a gain of
432,000 tons over the 1,383,000 tons recorded in this trade in 1957.
Net vessel and cargo tonnages represented in this route, as in past
years, consist mainly of bananas from Costa Rica and Panama to the
eastern seaboard. The volume of cargo tonnage in the west-to-east
movement alone accounted for 73 percent of the total cargo tonnage
gain made during the fiscal year and can be attributed almost solely
to the recovery made in the banana trade. Recovering from a disas-
trous year in 1957, this commodity reached the high peak of 337,000
long tons exported, the highest tonnage attained since fiscal year 1953
when 350,000 long tons were recorded. Manganese ore, the only
other commodity shipped in appreciable quantities in the movement,
was down slightly but accounted for 102,000 long tons out of the
total of 495,000 tons of cargo.
West coast United States and east coast South America.-A newcomer
to the list of important trade routes of the Panama Canal just 2 years
ago, this route topped all others in gains in net vessel tonnage among
the eight major routes. An increased net tonnage of 629,000 was
experienced, registering the year-high increase of 55 percent over
fiscal year 1957. Increased oil tanker movements alone an i, itn,1l
for 238,000 net vessel tons of this total gain with an increase oi 22
tankers plying in the trade. Shipments of crude oil from Venezuela
to the west coast of the United States increased from 1,235,000 long
tons in 1957 to a high peak of 1,614,000 long tens in 1958, a rise of 31
percent. Of the 1,949,000 long tons of cargo passing over the route
in 1958, 88 percent was recorded in the east-to-west movement.
NATIONALITY OF VESSELS
Vessels of 36 nationalities comprised the oceangoing commercial
traffic in fiscal year 1958, 2 less than in the previous year. Transits
of U.S. registry, numbering 2,023, with an aggregate net vessel
tonnage, Panama Canal measurement, of 11,672,797 tons ranked






NATIONALITY OF TRANSITING VESSELS
FISCAL YEARS 1958 AND 1957


HUNDREDS OF TRANSITS
22 20 18 16 14 12 10 8 6 4 2 0


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BRITISH

LIBERIAN

NORWEGIAN

JAPANESE

GERMAN

PANAMANIAN

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COLOMBIAN

HONDURAN

ALL OTHERS


TOLLS PAID MILLIONS OF DOLLARS
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EMU FY 1957





16 REVIEW OF CANAL TRAFFIC
first among the nations participating in canal traffic, as they have in
almost every year since the opening of the canal in 1914. Traffic of
British registry, contributing 1,203 transits registering 7,454,501 net
vessel tons, has traditionally ranked second in canal traffic and this
position was retained in fiscal year 1958.
Some 2,378 different commercial vessels made 9,187 transits for an
average of 3.82 transits per vessel. The number of transits inil,- by
such vessels varied from 1 to 50. The greatest number of transits
made this year by a single vessel was accomplished by the Honduran-
registered Vanda, with 50 trips through the (1iannil, traniipriuing
bananas from Ecuadoran ports to Florida.
During this year, not only an increase of 104 Auni-i wi-IIanll tir:.-iil-
was recorded over last year's total of 1,919 but an increase of 657,825
net vessel tons, is noted, which accounted for an increase of .$5i'5-.4,I22
in tolls collected from U.S.-registered vessels. Vessels under U.S.
registry paid 24.6 percent of the total tolls collected and accounted
for 22 percent of the total transits made. On the other hand, a loss
of 106 British-registered transits was sustained this fiscal year, with a
resultant loss in Panama Canal net tonnage of 673,068 tons, and
$641,696 in tolls revenues from British vessels. However, British-
flag transits continued to hold second place in importance, paying 16
percent of the tolls collected while making 13 percent of the total
transits. Next in importance, and replacing Norway as a tolls-
paying customer, is Liberia who accounted for 11 percent of the total
tolls with 9.8 percent of the total transits.
Of the 10 top-ranking nationalities contributing 85 percent of the
transits, 89.3 percent of the Panama Canal net tonnage, and ,'s.4
percent of the tolls, the United States led with 24.4 percent of the
total net tonnage; British, 15.6 percent; Liberian, 11.8 percent;
Norwegian, 10.1 percent; Japanese, 8.2 percent; German, 7.0 percent;
Panamanian, 4.2 percent; Danish, 3.4 percent; Italian, 2.4 percent;
and the Netherlands, 2.2 percent.
The most striking increase from the previous year, as measured by
net vessel tonnage, was made in traffic of vessels flying the Liberian
flag. Vessels flying the flag of this nation have steadily climbed
from sixth place in importance tonnagewise during the past 4 yii'--.,
increasing from 1,040,175 net vessel tons in 1954 to 5,633,036 tons
in 1958, a gain of 442 percent.
CARGO STATISTICS
Although the combined movement of cargo in both direction.; this
fiscal year fell short of last year's record by 1,577,391 long tons, or a
decrease of 3.2 percent, a second-place alltime high record was set with
a total of 48,124,809 long tons of cargo.
A substantial gain of 1,009,151 long tons was shown in the Pacific-
to-Atlantic flow of cargo over the record established last fiscal year.
As a result of this gain, movements in this direction again returned to
the leading position, a place it had held each year since the opening
of the waterway until 1957 when it was replaced by the Atlantic-to-
Pacific movement. The 25,281,508 long tons of cargo moving in the
Pacific-to-Atlantic area this fiscal year established a new record by
slightly more than 1 million tons over the 24,272,357 tons moving in





PANAMA CANAL COMPANY


that direction last fiscal year. The Atlantic-to-Pacific movement.
returned to seLond-place position by sustaining a loss of 2,586,542
long tons this year, down 10.17 percent from the record high figure of
25,429,843 tons in 1957.
Of the 12 commodity groups which have consistently accounted for
approximately 75 percent of the volume of cargo passing through the
canal, 6 showed increases and the remaining 6 registered declines this
period. The six groups registering declines were: other ores and
metals, manufacture- of iron and steel, wheat, sugar, canned and
refrigerated food products, and phosphates.
Average Tonnage, Tolls, and Tons of Cargo per Transiting Vessel
The average measurement of tonnage, tolls, and tons of cargo per
oceangoing commercial vessel during fiscal years 1958 and 1957 are
shown in the following tabulations:
Fiscal year
Average per vessel 1958 1957
Panama Canal net measured tonnage-------------------- 5,217 5,095
Tolls-------------------------------------------- $4, 549 $4, 481
Tl.k per Panama Canal net ton----------------.--------- $0. 871 $0. 879
Tons of cargo per laden transit --------------------------- 6, 378 6, 779
Tolls per ton of cargo (laden only) ----------------------- $0. 753 $0. 700
DATA IN STATISTICAL CHAPTER
Further particulars of traffic through the canal are presented in
chapter V of this report in the form of tables and charts.






a/t. II


THE WATERWAY

The efficient and dependable operation of the Panama Canal is of
vital concern not only to maritime interests throughout the world but
also to a host of others whose livelihood and general welfare are
dependent to some degree upon an even flow of world commerce.
The process of getting the ships through the canal and the perform-
ance of certain auxiliary or supporting functions are grouped under
the classification of "The Waterway," for purposes of this report,
and are the primary missions of the Marine Bureau and the Engi-
neering and Construction Bureau. These two Bureaus must provide
for the transiting of ships, operation of the locks, maintenance of the
canal channel, meteorology and hydrographic work, and ferry service
across the canal at Balboa.
TRANSITING OF SHIPS
Traffic control
The dispatch of ships into the canal and their movement through
the waterway are closely controlled by the Navigation Division of the
Marine Bureau. Dispatches are regulated from each terminal so that
all ships that arrive each 24-hour period normally clear the waterway
prior to closing time. The following is a summary of the typical
operating program in effect at the end of the fiscal year: From Cris-
tobal Harbor, the Atlantic entrance, the first ship begins its south-
bound transit at 6 a.m., the last at about 4 p.m. From Balboa
anchorage, Pacific entrance, the first ship starts northbound at 5:30
a.m., the last at 3:30 p.m.
Certain vessels such as tankers, ore carriers, and those carrying
hazardous cargoes are selectively dispatched so that they will not
meet or pass any other vessel in Gaillard Cut and are not normally
permitted to proceed unless they can clear the cut and the locks
during the daylight hours. Such ships are called "daylight clear-
cuts."
Since 1951 there has been a significant trend developing in the
number of clear-cut and daylight clear-cut transits. Of most impor-
tance, because it affects the capacity of the canal, are the increases in
large size vessels. From 1955 through fiscal year 1958, vessels of -9-
foot beam and above have increased by over 500 percent. The
number of vessels of this size-transiting in 1958 exceeded the number
handled during 1957 by more than 25 percent.
Harbor work
Five tugs were in service throughout the year-three at the Atlantic
terminal and two at the Pacific terminus. The tugs operated a total
of 12,784 revenue-hours in the servicing and assisting of ships, in
comparison with the 12,803 revenue-hours in fiscal year 1957.





PANAMA CANAL COMPANY


'i',t' ti' ,'i a 'w l /. 1' :
Th-, C('iiIpny'. salvage tug, U.S. Taboga, was engaged in four off-
shore jobs of salvaging and towing for private interests during the
fiscal year 1958 and was used for servicing outlying aids to navigation
,i-f II,:_ Pacific coast of Panama and in the Caribbean.
.4,e',l isii to shipping
f)Duii,, fiscal year 1958 the Board of Local Inspectors was called
upon to investigate 32 marine accidents in Canal Zone waters and to
!ix the blame and responsibility for same. Of these 32 accidents, 19
occurred during transit, the balance occurred in the terminal ports.
This compares with 20 investigations in the previous fiscal year.
The Panama Canal Company was found responsible for damages
incurred in 17 accidents, with joint responsibility fixed in 3. A reserve
in the amount of $459,555 has been set up to cover claims which
might arise as a result of the Company's liability. This compares
with five accidents of Company responsibility and a reserve of $22,000
in 1957. The remaining 15 accidents were determined to have been
caused by fault of the vessel or other causes for which the Company
assumed no responsibility.
The most serious marine accident which occurred during the year
was the collision on October 10, 1957, in San Pablo Reach between
the MS Rangitane southbound, and the SS Hawaiian Tourist, north-
bound. Responsibility for the accident was placed on the Panama
Canal Company. Estimated liability of the Company for damage
to both vessels was $250,000.
There were 558 transits per accident during 1958 as compared to
534 in 1957, and 262 in 1956.
Admeasurement and boarding party operations
A total of 602 new oceangoing-type vessels were measured and, in
addition, 206 ships with structural changes were remeasured. This
compares with 514 new ships, 235 with structural changes in the pre-
vious year.
The function of the boarding party consists of all phases of routine
boarding, which includes admeasurement of vessels for tolls assess-
ment; inspection to insure compliance with customs, immigration,
quarantine, and navigation regulations; and the performance of
Deputy Shipping Commissioner duties for seamen aboard the U.S.-
flag vessels. There were 10,750 ships boarded and inspected during
the year as compared with 9,392 in 1957 and 8,523 in fiscal year 1956,
respectively.
Aids to navigation
On October 6, 1957, the former Aids to Navigation Section of the
Marine Bureau was transferred to and became a unit of the Dredging
Division, Engineering and Construction Bureau. The complete
integration of the two units was effected by October 31, 1957. Con-
solidation of these activities will result in a net reduction of operating
expenses in the amount of $143,200 in fiscal year 1959.
As of June 30, 1958, there were 870 navigational aids maintained
by the Dredging Division in the canal proper and the approaches
thereto, the terminal harbors, and the adjacent coastal areas. Classi-
fled according to the character of the illuminant used, these were as





THE WATERWAY


follows: acetylene gas operated, 123; electrically operated, 370; and
unlighted, 377. Outlying navigational aids were visited for the
purpose of inspection and servicing, and all aids were maintained in
good operating condition throughout the year.
Signal stations
Effective December 1, 1957, the U.S. Navy transferred the Flamenco,
Island Signal Station, located in the outer Pacific harbor waters, to*
the Panama Canal Company for operation and maintenance. Cur-
tailment of funds and personnel in the Department of the Navy made.
necessary this change in organizational management.
LOCKS OPERATION
In traversing the lock-type canal, ships are raised in three steps
to a fresh-water lake 85 feet above sea level. The Locks Division of
the Marine Bureau is primarily concerned with the operation and
maintenance of the three sets of locks, their related installations and:
facilities, including the periodic overhaul of underwater parts.
Gatun Locks near the Atlantic entrance to the Canal forms one-
continuous flight of three steps which raise and lower the ships 85
feet above sea level. The three flights at the Pacific entrat.-e are
divided between Pedro Miguel Locks with one flight ardl Mniralorii:-
Locks with two flights. Each of the twin chambers in ,o.ich ligit of
locks has a length of 1,000 feet, a width of 110 feet, and a depth of
70 feet. Since the flights are in duplicate, ships may p.iS. ii opposite
directions simultaneously.
The duration of a lockage depends on many factors, including the
size of the ship, its handling characteristics, and whether the ve;el i,
locked separately or in tandem. This latter procedure is ured to s;ave
overall time and water. The normal lockage intervals are 40. i6.
and 80 minutes at Pedro Miguel, Miraflores, and Gatun Locks.
respectively.
The number of large vessels passing through the lock.; iii lIi; al year
1958 was greater than ever before. Ten-locomotive loi kig(-es iincreoi;ea.I
by 13.5 percent over the previous year; eight-locomotive lockagie'-
increased 6.1 percent. Total lockages showed an increuai. of ippr.),:-
imately 6 percent over the previous fiscal year.
Lockages-vessels handled
The number of lockages and vessels handled (including Pi.namia
Canal equipment) is shown in the following tables for the fi;,cal year.
1958 and 1957:
Fiscal year
Gatun Locks: 1958 1957
Number of lockages -..------------------------------..8,548 8, 053:
Number of ships ----------------------------------- 10, 882 10, 348.
Pedro Miguel Locks:
Number of lockages --------------------------------- 8,815 8,260,
Number of ships------------------------------------ 11,713 11, lI&
Miraflores Locks:
Number of lockages ---.---------------------------- 8,655 8,244
Number of ships ----------------------------------- 11,358 11,105,





















WrnqI&W"., I j


~6 t


Tanker SS "Gulfking" in Transit at Pedro Miguel Locks.








ar


AAI


Repairing Culvert Failure in East Chamber, Pedro Miguel Locks.





PANAMAA CANAL COMPANY


Luck.- te'rhai l
T Th.- 5.-ye:Ir oqv,-rhla'I oIf th ':lie Pcifit.- loez;c was accomplished, except
for rising stein \val\>- iii the I"..dro Niguel :-center wall, which will be
.completed in July 19'S. Prep.iiatoly work was begun early in fiscal
year I15S, a iin overhaul work proper lb.-gani at Miraflores on January 4,
1ffoiS, and renmanildl in progreS--5s u.luring the balance of the fiscal year.
All inmdrrwatrr parts w.ere inspected. repaired, cleaned, and painted
na rucquirt-d. Tr,. mter gt.t'. leave, wu'e unhinged for replacement
.of hiearing-.1 i1 :1 ring plate.. Eighteien old i ising stem valves at
Miraulorus were replace-d with i;e vlnl--I. Work in the Miraflores
*. enter culvert \vas done with both ch:lrni:er- in service and the culvert
isolate'.l by use of Interal culvert plt-
On June 7, the Iniwati:.rel iast chlln.-her of the Pedro Miguel Locks
revealed a1 failure of onie ol the iulvi'rt.. ait.l the adjacent floor areas on
either sidle a2tioin Itinhg to a total of abo tt 1,0010 square yards of con-
crete. It vas ,?.:tiriinI:ed that the upheaval of the concrete had
-oe:,urredl dinnrg tI-e fir-t killing of the- i'hamilier following the overhaul.
Cleanup aniI repair work wa; conipleted on June 24, and consisted
of repouring the top half of t lie lateral tilvert that was ruptured;
r.'pa irilig a*tn I Iling leaks in several other li teral culverts which
siow.ld -ign- of weakness; and the pouring of about 1,000 square
yvrdl- of new Iljoor slab
WATER SUPPLY
Tlie supply of v.watr ne,. isary for th., operation of the Panama
Canal in transiting of h hipse, thei generation of electrIn power, and for
mnitni,-ipal ui-.e is derived fro in. several tribtiary itreaini that flow into
Mladtlen and Gnatn Laket., which -erve :, storagee and flood control
re-servoir' of a drainage ain .omnpri-ing 1,'-'S' square miles. All
inflow front Mauddlen Lke., n' ihether drawn for hydroelectric power
Sor spilled I for lake ouitrol, Iwo%- into Gatuin Lake and together with
the runolt frorn the area I-low Maddu.hln Dam is used for lockages,
power generation, anI muni .ilpal plrpoi'tJ, ,or may be spilled to
control tLe operating level of Gatinu Lake.
Total runoff froini Gatin Litnd Maddilen Lake drainage basin for the
fiscal year 195S 'va 19I perc-nt b lo'. normal and amounted to
8:,S7(I,552 are-feet. Of this total, 41 percent was derived from the
iau;in ibove NMla.den Dam.
Runoff for the period, Jan'ia.ry-April, from the Gatun Lake Basin
amounted to i.'16.621 I.:re-feet, which wxas .1I percent above the
45-i-ear average From the area above Nlad,.lden Dam, which consti-
tutes the greatest so-urun. of hiydroel.ictric po,,wer, the total runoff
aniunuteil to .1.|4,775 acre-feet, v.Shich was 2S percent above the 45-
year average for that :area.
After deducitioon of evaporation lo--e- from both lakes of 488,129
.acre-feet, tiet remaining net yield or runoff amounted to 3,382,323,
whiih wa; combrii..d with 313,9;-4 are-feet from lake storage and
us- d to furnish 1,4-62,92 acre-let-t for Gatun Lake lockages (using
li19 aere-feit per lockage of which there was an average of 23.8 per
day.. Ou ot of r- th tt.t yi.hld al;o. 1,459'),344 acre-feet were used to
generate -4,i,.25,200 kllowatt-bionrs at Gatun hydroelectric plant.
In addition, leakage and miscellaneous losses of 19,651 acre-feet were





22 THE WATERWAY
sustained during the period and of the remaining net yield municipal
requirements took 35,652 acre-feet, gain in storage of 313,934 acre-
feet, and the spilling of 90,817 acre-feet at Gatun spillway for lake
regulation during the rainy season. Madden hydroelectric plant
used 1,166,528 acre-feet to generate 125,249,100 kilowatt-hours of
electricity.
For further details on water supply and expenditures, see table
27, chapter V, page 110.
MAINTENANCE OF CANAL CHANNEL
The Dredging Division is charged with the maintenance of the canal
channels from the Pacific entrance at Balboa to the C(iiol',I.l 'reauk-
water in the Atlantic. This division is also responsible. 1f.r I-h,. i,,p.r.'r -
tion and maintenance of all other navigable channels, IharlI''-t, niiii
anchorages; the extermination of impedimental plants in the canal
and its tributaries; and the maintenance of the Atlantic breakwater.
This maintenance of the canal channel, its terminal harbors, the
adjacent navigable waterways of the Panama Canal, and special
improvement projects was accomplished during the year with a 28-
inch suction dredge, a 13%-cubic-yard dipper dredge, and a 10-inch
suction dredge which was placed in operation in November 1957 to
be used in drainage correction work in the Telfers Island area, in
lieu of higher cost excavation by land machines.
Dredging operations are divided into three major areas; the Atlantic,
a Central, and a Pacific district. The canal channel is maintained at
the following predetermined controlling depths: For the Atlantic
district, from deep water in the Atlantic to Gatun Locks, is 42 feet
below mean low water; that for the Central district,.from Gatun Locks
to Pedro Miguel Locks, 42 feet below minimum lake level of 82 feet;
and that for the Pacific district, from Pedro Miguel Locks to Mira-
flores Locks, 42 feet below Miraflores Lake elevation of 53 feet; from
Miraflores Locks to deep water in the Pacific, 42.4 feet below mean low
water springs.
A total of 5,156,700 cubic yards of earth and rock was removed
from the harbors and waterways in 1958, an increase of 2.9 percent
over the 5,010,600 cubic yards in the previous fiscal y-nr
Slide incidence in Gaillard Cut was again below Inii ial, wilth nI,
42,300 cubic yards of material being removed, l'riringii tIe i.il-
material removal since June 30, 1913, to 52,929,550 .iil.. y.ail. Tl..
Culebra Slide West continues to be the most activ.. ad i ii iiii.-rou,
small bank breaks occurred but with movements of mniii :,:.ii.'.-'uiiii .
A summary, of dredging operations for the fiscal v..-ir 1'.'.5 %%ill i,.
found in table 28, chapter V, page 110.
REPLACEMENT OF LOCKS TOWING LOCOMOTIVES
In January 1958 the two test locomotives which had arrived in
December 1957, and which were placed on the north center wall of
Gatun Locks, were demonstrated to the Board of Directors of the
Company and to the Governor of the Canal Zone. The machines
proved to be nonoperative and were not acceptable. Further tests
were suspended pending corrective measures to bring them up to
measurable standards of the specifications. Corrective work was




















Vff


- -I
F*-


-I


Suction Dredge "Mandinga" Placed in Operation November 1957.

















0.. :ii .


Architectural Rendering of Bridge to Span Canal Channel at Pacific Entrance.





PANAMA CANAL COMPANY


bl:g-,ii, ii My Pr'cliniiiiiry tests were again performed in June and
ii.hlatedi tlir thi. rnip..r repairs were -iltifat-uly although the
ri,m: ries h 1 I l IH-II i v vi I, lh. tl .Iernns aHtL:. lie.llu a ilitvl to handle
l-hiT:. A proi'"i"t "perattnig schedule, prepared on the basis that no
m;,i>-.r I IIhl:,l11ty or z",ri, uii- delaying accident will occur, was scheduled
ti, li..rii on July 1, 1958. The towing devices are to be tested through
tr nii-ii- with two barges lashed together, small vessels, and oceangoing

CANAL IMPROVEMENT PROGRAM
Ti,.-, canal improvement, short range program, developed in 1957
was approved during 195S for accomplishment. At year's end, dry
cX aIv;ltli.nt, hil ,n-.:n ,' l ..mii l .- I iuiii blasting was in progress on the
ul..I4n1ing ,f B.-ndl 15G S P-i':'I.:, Curve). A contract was in progress
for ligl itig1 o If Il in' 1i, k :[i.1I (G illard Cut on an experimental basis
only; preliminary geological data was being obtained with preparation
of plans and specifications under way on widening the Paraiso-Cucara-
cha Reach; and the projects of widening Bend 1660 and the Paraiso
Mooring Station have been deferred until 1961.
In the Canal Improvement, Long-Range, Special Studies Program,
general engineering studies, editorship and coordination of a report
are nearing completion under the direction of the Vice President who
is Chairman of the Working Committee for the Ad Hoc Committee.
It includes updating and revision of 1947 cost estimates for Third
Lock and Sea Level canals, a study of the vulnerability of various
types of canals in this location, and an analysis of new construction
methods and equipment as related to new, canal plants.
MARINE TRAFFIC CONTROL
During the fiscal year the Panama Canal Company contracted with
an engineering firm for a study of the present methods and equipment
for marine traffic control in the Panama Canal and for recommenda-
tions for improvements of a marine traffic control system.
A preliminary oral report was presented to Company representatives
and the final report was scheduled for submission to the Company
early in fiscal year 1959. This report recommended the installation
of an extensive electronic marine traffic control system. The pro-
posed system would be an integrated, or coordinated method of con-
tinuously providing and utilizing more complete, accurate, and up-to-
the-moment information for scheduling and controlling the movement
of vessels in the canal.
CLOSING OF GAS MANUFACTURING FACILITY
For the past several years the possibility of closing the Industrial
Division's gas manufacturing facility has been considered. At the
close of the fiscal period a plan had been approved for its closing, and
negotiations for a contract with a firm in the Republic of Panama to
furnish oxygen, hydrogen, and acetylene were underway.
It Wv,- *.I:ileil that r thi Storehouse Branch will handle the trans-
pt ii ali f I Ih. gi cyviders to and from the plant in Panama and
will ha'i thL rr-,spir-.bility for storing, issuing, and receiving cylinders






24 THE WATERWAY
and the maintenance and repair of cylinders. No sales will be made
to any military or commercial unit in the Canal Zone.
The Industrial Division gas plant will be converted to 60-cycle and
mothballed. The plant will be reactivated should the local source
of subject gases fail at any time in the future to meet contractual
obligations for supply of the gases to the Company. (On July 9, 1958,
a contract was signed between the Panama Canal Company and the
Panamanian supplier, to become effective August 1, 1958.)
The new cost of the three gases to the consuming agency will be approxi-
mately the same as presently charged by the Industrial Division.
Savings will accrue through the following items: Plant additions
and replacements, rising rate of U.S. rate salaries coupled with effects
of the single wage plan in the Canal Zone, community services to
Panama Canal Company employees; and the intangible cost of main-
taining an extremely hazardous gas manufacturing facility in a heavily
populated industrial area and in the vicinity of a heavily populated
residential area.
FERRY SERVICE
The Thatcher Ferry service operates across the canal near the
Pacific entrance of the canal. It is operated as a public service and
no charge is made for its use. Service is maintained by retaining
three diesel ferryboats on a daily schedule, with two ferries being in
simultaneous service. A third ferryboat is kept in reserve to relieve
the two regular ferries during periods of overhaul and to carry tourists
and special parties in the canal as required. Statistical data on the
ferry service for the past 2 fiscal years are given below:
Fiscal year
1958 1957
Single trips made ------------........-------------------- 22, 945 27, 144
Total vehicles carried -------------------------- 512, 878 606, 648
Total passengers carried --------------------------...... 3, 663, 587 4,281, 474

During the year some 7,716 tourists, special parties, and 3,568
schoolchildren were passengers on ferry trips through Gaillard Cut,
partial canal transits, and excursions on Gatun Lake.






a/e' III


SUPPOIUTING OPERATIONS

It i.; ,..I,.,itlil if thei, is any other Federal organization in the
or~ld thli:t .l-nil)riE. tIhe variety of distinct, but closely interrelated
aItivtI.s tlial :ir.n: fl':uid in the Canal Zone. In support of the mainte-
uunce an. ,i.-ral i': of 1 lie waterway and incident to the civil govern-
ment of thI.. C.an.il Z,:.ne. the Company conducts many auxiliary
:per:ali,-ni that are ee intiUn! to the accomplishment of its basic mission.
'Fhlies'? iIn. iil, roil. :oceai,, ;:nd highway transportation; public-utility-
ty &[: a.rvi .-, tlie ,:t:.p:rti ii of retail stores and housing for employees;
and a wide variety of engineering, supply, and service functions.
These services are also made available to other Federal agencies in
the Canal Zone and, to a limited extent, to the Republic of Panama.
EMPLOYEE SERVICES
Supply and Community Service Bureau
lUinl.i the program of regrouping facilities, the integration of the
Se-r :. Center, Commissary, and Storehouse Divisions was formally
.11'if .r:.- July 1, 1957. The Supply Division has two branches-the
Storehouse Branch and the Sales and Service Branch, which comprises
all activities formerly operated by the Commissary and Service Center
Divisions. Its principal objectives and responsibilities consist of:
procurement of supplies and materials, storage and sales thereof;
scrap processing; and operation of theaters, restaurants, and bowling
alleys.
The Community Services Division has the responsibility of housing
management and attendant operations; care of public buildings and
grounds; operations pertaining to collection of garbage and trash;
street-cleaning facilities and cemetery maintenance.
In addition, in November 1957, the responsibility for direction of
the Procurement Division was transferred from the New York Office
to the Director of this Bureau.
SUPPLY DIVISION
Sales and Service Branch
S, n '. r., u,* r operations
TI[? -ervice centers provide certain essential sales and recreational
fall.it i1s for the employees of the Company/Government organization,
their dependents and guests, as well as others authorized or entitled
to receive Canal Zone privilege?. These facilities include cafeterias,
soda fountains, guest ;i,::i.i.iin I.: uti;.,n; recreational activities such as
theaters, bowlin.i- ::l.' -, .ind merchandise sections. In addition,
rL-ilI r.].: ; ,-.i, r.uii..ii!vy furnished for the use of the various
]<:.-?iee slIn I. >, I. l in. !iihIl- barber, beauty, shoe, tailor, and dress-
ri:,Iiking -.tI.-il--ilibl,,.-i-., public libraries, and union organizations.


4'-*-,. 7--.'--!'






26 SUPPORTING OPERATIONS
Implementation of the 1955 treaty commitments and deactivation
of two communities resulted in the closing of several retail units and
the initiation of several new ones. Revenues increased slightly, a
total of $23,285 in gross income being shown over the 1957 fiscal
figure.
Retail stores, warehousing, manufacturing, and allied operations
The retail stores, warehouses, manufacturing plants, and related
operations provide food supplies, clothing, general household, and
other essentials to U.S.-citizen employees and their families in the
Canal Zone and in the Republic of Panama, to noncitizen employees
residing in the Canal Zone, and the members of the Armed Forces.
In addition to retail stores in the Canal Zone, the operation of gasoline
service stations, warehouse facilities, a bakery, coffee-roasting facilities
a dairy, and a laundry were maintained throughout the year.
Retail stores and related operations
During fiscal year 1958, an intensified program of realignment of
operations consistent with the policy of offering merchandise and
services at the lowest possible prices to support good business practices
was continued. Loss in retail store sales as a result of implementation
of treaty commitments was slightly less than anticipated and in-
ventories were increased beyond originally planned levels. A drop
of 22 percent from the previous year was sustained in retail sales,
services, and issues. Revenues for fiscal year 1958 were some
$4,920,138 under fiscal year 1957 volume.
Storehouse Branch
The organizational units of this branch include administrative,
stock management, warehousing, scrap, and salvage operations;
excess disposal; and office furniture and equipment pools.
During the year excess stocks held in this branch of the division
were brought down from a value of $700,712 to $57,673.
A continued program of regrouping facilities and rewarehousing
stocks so as to promote efficiency in the warehousing activity and to
reduce operating and depreciation expenses to a minimum was vigor-
ously pursued throughout the fiscal period.
Scrap operations were curtailed this fiscal year due to the business
recession in the United States which caused a drop in the market
price of scrap. Improved scrap-processing operations were initiated
that resulted in an appreciable decrease in operating costs.
Methods of operation in office equipment and furniture pools were
studied throughout the fiscal period, resulting in improvements in
several areas. Unserviceable pool items retired reached a total of
767 in comparison with 1,061 in 1957; acquisitions of new equipment
for the fiscal year period totaled 906 in comparison with 352 for
fiscal year 1957.
PROCUREMENT DIVISION
This division, comprised of three commodity branches and one
administrative branch, is charged with the responsibility of providing
procurement services to the Supply and Community Service Bureau.
The division is also responsible for the forwarding, expediting, and
correlating of shipments to the isthmus in compliance with required





PANAMA CANAL COMPANY 1
d,>l.iv.rv ulte'. l'.iiit l ] it-?Il .i -iirpli,.*-. rJiit,.i.[i1-, :Il- *'I e lui]pmi nit are
pir.:.l '-_d f:.i r i.: ,1 h..' i C ,:,nip i y ii i.he C .in0 il Z', in:, i, it; N _.wv York
, ,..,,i ,,in-, .,r t. 2 '-:i alt' ..' ii-< '.iipl. yees. This division continued
i- ii :ii .:. -'r .. :, htw..:ii iI l'-- E1i.y- ering and Construction Bureau
,inh l S (:itl.-: ,.',,lirf .'t* O '- ,:,ii .il -1p1 iri i,': tracts.
Dunn-' ,i,- I,-..l vi.,tr O1''5, the division made 22,752 awards for
pi,.p,:i,-i- vii-l a;it .4.14 \,1..,'.m'. In .:'.nmparison with 20,003 awardsfor
[pin:lu. --. i- le, I ;a t i 1 ,14.771,11- '5 i ical year period 1957.
Alth,., 'i'hi the dtil:l v.,Im-' o tAh i,, chasingg workload decreased in
Il'., l,.- ,l1tern_ ii 'di.d a0 l v-ri.,d:i -olicited increased by 10 percent
fal tI '-rit, r. -p,., tv-ly, .." .1 Ir,--alt of expansion of merchandise
lines and the purchasing of smaller quantities more frequently in order
to hold inventories as low as possible. By taking advantage of the
various economic opportunities offered in procurement of goods
throughout the year, a total of $149,296 in savings was effected by
the division.
COMMUNITY SERVICES DIVISION
Housing Branch
The Panama Canal Company operates living quarters for all U.S.-
citizen employees and, to a limited extent, for non-U.S.-citizen
employees.
No new housing construction was begun during the year. However,
effective January 14, 1958, sixty-nine 4-family apartment buildings,
comprising 124 3-bedroom apartments and 152 2-bedroom apartments,
and four 1-family buildings located in the Coco Solo area were added
as U.S.-citizen housing when the Department of the Navy released
them to the Company. The demolition program was accelerated
during the year to accomplish the evacuation of a total of 16 U.S.-
citizen quarters buildings and apartments, and a total of 521 non-U.S.-
citizen quarters buildings, apartments, and bachelor rooms.
A reduced operating margin this fiscal year over last year reflects
increased maintenance requirements on all residential housing and is
attributed mainly to increases in Canal Zone rates and U.S. Wage
Board labor rates.
Revenues for U.S.-citizen housing were slightly under those for
fiscal period 1957. The financial results of the non-U.S.-citizen
housing show a substantial improvement over fiscal year 1957 as a
result of a rental increase made effective in January 1957. The
operating deficit was reduced to $17,270.
U.S.-citizen quarters
As of June 30, 1958, there were 2,460 family units in operation for
citizen employees and their families. These excluded 8 apartments
held in a standby status and 313 substandard units that were in the
prrivo-s of demolition or transfer to the Republic of Panama. With
tli: x-.r--,:tliii, f wh,'..'. occupants, the complete evacuation of New
C r''-tLail lir- b ,-,- : i.:,i plislied

A. ,, ,,n,, 1.1. i:.'.S, there were 1,854 family units in operation for
Ino:n-I S_.-, ii.', p.-r-,iaiiawl and their families. In addition, 88 family
;ipat mni:i nit .- in the process of demolition or transfer. During late
calendar year 1957, seven 12-family buildings at Pedro Miguel were






SUPPORTING OPERATIONS


reactivated for use as the final demolition program of La Boca was
accomplished. There were 228 fewer non-U.S.-citizen families occu-
pying quarters on June 30, 1958, than on June 30, 1957.
Other activities
The Housing Branch of the Community Services Division is also
responsible for the administration, care, and maintenance of the
Company/Government buildings. Care of grounds, collection and
disposal of trash and garbage; cleaning of streets within townsites in
the Canal Zone; landscape activities; and operation and maintenance
of Summit Park and the Canal Zone cemeteries are administered by
the Grounds Maintenance Branch.
There was no change of consequence in the workload of the Company
and Government building subprogram. The increase in depreciation
expense includes the reinstatement of plant previously offset by
economic valuation allowance, and the provision of special reserves
to offset the net book value of 16 Company buildings licensed to
various religious, civic, welfare, and commercial groups.
Canal Zone rate wage increases and upwardly revised truck rental
rates, effective July 1, 1957, account for the two major areas of
increased operating expenses of the care of grounds. The addition
of 200 acres of housing areas in Coco Solo and Pedro Miguel added to
the workload of both branches; however, the phaseout of the towns
of La Boca and New Cristobal offset this increase.
Added depreciation costs on new replacement machines and Canal
Zone rate wage increases account for the increased operating expenses
of the Garbage Collection and Disposal Unit. The closing margin
approximates $29,333 as compared to the budgeted figure of $17,300.
This difference is due to the failure of anticipated reductions in the
volume of service furnished to the military.
The street cleaning, Summit Park, and cemeteries operations all
continued at the approximate levels of the 1957 operating figures.
TRANSPORTATION AND UTILITY SERVICES
Railroad operations
The Panama Railroad comprises 48 miles of main-line single track
across the isthmus between the terminal cities of Panama and Colon.
In addition, it furnishes industrial switching service to the most
important Company/Government and Armed Forces warehouses and
installations, as well as to some industrial facilities in the Repuihlir of
Panama. It also maintains appurtenant freight and '.,-". '
stations, railroad yards, and locomotive and car repair shops. It
serves all Federal Government agencies on the isthmus and is a
common carrier serving commercial interests in the Canal Zone and
the Republic of Panama.
Passenger and freight workloads of the division showed increases of
33% percent and 18 percent, respectively, during the fiscal year over
the previous year's figures. The increase in passengers carried pro-
duced a 22 percent increase in income, while the increase in freight
tons hauled accounted for a 15 percent increase in income. Due to
an overall workload increase with the exception of a reduced workload
,on the docks and piers which produced a reduction in switching





PANAMA CANAL COMPANY 23

liomiotive service income, and the reduction in force, tih operating
deficit. wats r,.diuced lI.y 51 pere.nt.
Comipar;ative workload and, income statistics are shown in the
table iln\w\ -
t' .. .1; l.:.ir
1958 1957
P:,~r-,, r, r- -.rri, d ...................- --------------- 540, 641 1115 )t06
R, i ii ; t ol,. c rr,,.d ---......---------------------- 129, 121 1W,. 72'i
P -.i: .u..r rt i.. i n,,,. ..... ...--..-- ------------------ $433, 165 :5..;., 74i
Fr.:ight -. I: -.: i,.nCm.... -...-.- ---...----------------- $731, 953 .: ,;7, toS9
St. it-iii ...:1 l.to:,.,ti. -. r e: onie -------------- $64, 104 $75, 933
N.:t op rati deti ---.......----....-------.....------------------ $124, 830 $252, 071

The Motor Traniisportation Division operates two fully equipped
repair inps, 'one :t :-.ih ,-inall terminal, and small repair facilities
lc-(.red itn the Cristhlijl iind Balboa pier areas; motor pools from three
central g rages; ail ;i lir, retreading plant at the Ancon garage. The
ili\ iz ,on a I l .o ma itains t h- motor vehicle fleet and various other types
of power-driven equipment used by the Panama Canal Company/
Canal Zone Government for construction, materials handling, fire-
fighlting, grounds maintenance, and related motorized equipment
ow eil I.y various units of the Company/Government. In addition,
it also provides miscellaneous repair services to other U.S. Government
agencies, employees, and others authorized to utilize such services.
It siujpervies. the operation of public bus transportation systems op-
e (ing .I n lioth sides of the isthmus under franchise or concession, and
performs annual inspections of commercial and privately owned motor
vehicles as required by Canal Zone traffic regulations.
Various Company/Government projects and other factors contrib-
uted to the overall increased demand for motor transportation services
which resulted in a workload that was greater than that anticipated
and budgeted for the year.
The decrease shown in repair shop services furnished to units of the
Company/Government and others eligible to use such services is due
primarily to reduced credits from setting up only 52 new vehicles in
the year as compared to 123 new vehicles in the previous fiscal year.
Approximately 42 percent of the repair shops' workload was utilized
in repair and maintenance of the division's motor fleet. Significant
workload indices for the fiscal year as compared with the previous year
are given below (reduction in transisthmian hauling is result of Com-
pany/Government units using railroad to fullest practical extent):
Fiscal year
1958 1957
V.-hi .r.ic.--------- ..............-- ------------------- .. 535 535
V.-h, .. nii.,g --------------------------- ..... 5, 757, 000 5, 488, 000
Transisthmian freight hauled (tons) --------------- 14, 662 19, 791
Nunl... r :lf l i. ha ll. r rrried (transisthmian) _--. 53, 682 65, 175
t..-iir iuhop -. r.i%.-- frnii-h.:d others ------------- $394, 872 $419, 048
Op. r.-tirg rn:[irli (lor .:le t i---------- $28, 318 ($2, 513)

The Pani ma Canal C"ompany operates the Panama Line which pro-
vide, ,i i_'lill r freight and passenger service between New York and
the ('andl Z.in.e, via Pot t,-au-Prince, Haiti. The steamship line is an
impi, tiant a1Ijunct t*:- the operation and maintenance of the Panama






30 SUPPORTING OPERATIONS
Canal, furnishing ocean transportation for the large quantity of goods
required by the Panama Canal Company/Canal Zone Government,
and supplying passenger transportation for employees and their fam-
ilies between the Canal Zone and the United States. Commercial
passengers and freight are accepted on a space-available basis.
This is the first year in which the two remaining vessels, the SS
Ancon and the SS Cristobal, operated under the new schedule which
provided for 41 round-trip voyages annually. During the last 6
months of the fiscal year the business recession, affecting shipping
throughout the world, was experienced also by the Panama Line. In
spite of an initial 6 months' profit, the operating loss of the line at
year's end rose to $111,041, primarily because of lower freight traffic.
In addition, and contributing also to this loss, was the political unrest
in Haiti, and a planned rehabilitation program initiated during the
year to improve the mechanical and structural condition as well as the
appearance of the two vessels as rapidly as the financial situation
allows.
Shown below is the statistical comparison of the fiscal years 1958
and 1957:
Fiscal year
Workload 1958 1957
Number of completed voyages----------------------- 41 45
Tons of freight carried------------------------------ 167, 951 199, 915
Average number of tons per voyage------------------- 4, 096 4, 442
Number of passengers carried------------------------ 9,528 10, 739
Average number of passengers per voyage------------- 232 238
Operating margin (or deficit) ------------------------- ($111,041) $64, 724
Electrical power system
The Panama Canal Company provides all electric power used in
the Canal Zone. It operates and maintains hydroelectric and diesel
generating stations, substations, transmission lines, and appurte-
nances. Two hydroelectric generating plants, one at Gatun and the
other at Madden Dam, provide the normal power needs of the Canal
Zone. Three major diesel standby plants are maintained to supple-
ment the hydroelectric plants when water supply is inadequate.
The combined generated output of the power system for fiscal year
1958 was 250,177,080 kilowatt-hours, a decrease of 4,798,020 kilowatt-
hours, or 18.8 percent less than 1957. A total of 222,640,477 was
delivered to customers as compared with 229,108,926 for the preceding
year. Due to the prolonged dry season, diesel generation for water
conservation was the heaviest on record. The total diesel p.\t-r
generated, 41,004,380 kilowatt-hours for the year, was 89.2 percent
greater than the previous heavy record in 1949.
Further particulars on electric power generated will be found in
table 29, chapter V, page 111.
Communications system
The communications system consists of two main exchanges located
in Balboa and Cristobal, with small exchanges at Pedro Miguel,
Gamboa, Gatun, and Coco Solo, with their respective distribution
systems connected by two transisthmian trunk cables. The system
is independent of, but interconnected with, the Army and Navy
systems in the Zone, and with the systems in the cities of Panama and
Colon.





PANAMA CANAL COMPANY


Al. tb .-rl of the fiscal year 1958, there were 7,670 telephones in
i.:rvie, ., ::.compl'ar,' with 7,543 telephones in service at the end of the
Ire.li;-p ti-:.il yIe. an increase of 127.

Thl.: \\:teir Branch continued to supply all the filtered water require-
iJnt.- I .1I' the Canal Zone, including that required for shipping, Armed
F.,',.,s installations, the cities of Colon and Panama, and suburban
P:F,l:1 n1.i in the Republic of Panama.
The system consists of two principal units, one serving the Pacific
side of the isthmus, and the other the Atlantic area. The Pacific
unit takes its water supply from the Chagres River near Gamboa,
from which point the raw water is pumped to a filtration and treat-
ment plant at Miraflores. The Atlantic side unit receives its water
from Gatun Lake, from which water flows by gravity to a filtration
and treatment plant at Mount Hope. Each unit has its own pumping
stations, reservoirs, mains, and distribution piping. Two laboratories
are maintained as adjuncts of the water system to perform the neces-
sary tests to assure the production and distribution of safe, potable
water. In addition to work performed in connection with water
purification, the laboratories render various chemical, physical, and
bacteriological tests for other Company/Government units and outside
agencies. They also handle the chemical inspections for explosive
and asphyxiating gases on burning or damaged ships.
The total annual production of water for this fiscal period is 1.1
percent lower than in fiscal year 1957. The increased use by Panama
and suburban Panama was more than offset by the reduced use by
the Armed Forces and a reduction in water consumption by the city
of Colon.
The table below shows for the fiscal year 1958 and 1957 the con-
sumption of filtered water for municipal purposes and for sales to
vessels:
Fiscal year 1958 Fiscal year 1957
(Thousands of cubic feet)
Canal Zone (including Armed Forces)--------------- 562, 997 605, 030
City of Panama (including suburbs) ---------------- 737, 838 707, 464
City of Colon ----------------------------------- 175, 014 179, 551
Sales to vessels ----------------------------------- 22, 054 23, 345
Total ---------------------------------- 1,497, 903 1, 515, 390
Printing plant
The printing plant performs the general printing and bookbinding
services that are required by the Panama Canal Company/Canal
Zone Government and other U.S. Government agencies operating on
the isthmus. Authorized under regulations of the Joint Congressional
Committee on Printing, it supplies letterpress and offset printing,
provides addressograph and bookbinding services, and other miscel-
laneous printing services.
\VilI. the workload of the printing plant decreased slightly (1 per-
cent) in the number of print impressions registered, the number of
production units increased by 1,812,846 in fiscal year 1958 in com-
parison with last fiscal year, an overall gain of 20 percent, in plant
production. During the year, five positions were abolished in the
plant as a result of improved operating procedures and methods.
Total revenues and credits for the fiscal year amounted to $351,683,





32 SUPPORTING OPERATIONS
with total expenditures of $351,806, resulting in a net operating
loss of $123.00.
Vessel repairs
The Industrial Division of the Marine Bureau provides repair
facilities for commercial and Government shipping in the Canal Zone.
Its operations are centralized in Mount Hope at the Atlantic terminal
of the canal, and consist of a shipyard, drydock, shops, and related
operations. A large drydock at Balboa, on the Pacific side, is main-
tained in a state of readiness for emergency use only as are other
repair facilities.
A total of 1,063 vessels, 65 feet or over, were repaired during the
year, accounting for 1,763 ship-days. There were 43 vessels of this
class drydocked during the year.
Normally, the Company's own floating equipment provides the
largest single source of work for the division through its routine dry-
docking and overhaul. During fiscal year 1958 Company sources
provided the principal workload and backlog throughout the entire
year, and accounted for 49 percent of total revenues earned and 61
percent of the productive force. Actual workload in the division
declined during the latter part of the year mainly because of cancel-
lation of scheduled Navy work due to redeployment of these locally
based naval craft to other areas.
Harbor terminals operation
The Company's terminal facilities consist of wharves and piers,
with about 3 miles of berthing space, and other appurtenances
necessary for handling, transferring, and stevedoring of cargo landed
at the Atlantic and Pacific terminals of the canal either for ultimate
destination in the Canal Zone or the Republic of Panama, or for
transshipment to points beyond the isthmus. Facilities also include
a tank farm at each terminal for storage of petroleum products, fuel
handling plants for the transfer of petroleum products to storage
facilities and for the delivery of bunker fuel to vessels at terminal piers.
Cargoes handled include imports for the Canal Zone and the Re-
public of Panama, outgoing isthmian cargo, and the transshipment
of cargoes to various world ports. A total tonnage decline of 11 per-
cent during 1958 from the previous year's total is shown in the com-
bined cargo stevedored between ships and shore at the two canal
terminals, transferred between ships, or otherwise moved over the
piers. Among the primary factors accounting for this loss were the
direct shipments of coffee and raw cotton from west coast Central
American ports to Europe and Japan, the curtailment -fI Armed
Forces shipments, continued reduction in the Company's commis-
sary sales, and decreases in scrap and banana exports. Improved
cargo-handling techniques were introduced during the year to increase
productivity on the piers.
In compliance with the 1955 treaty, pier No. 3, located in Colon
Harbor, was transferred to the Republic of Panama on November 7,
1957. This pier is a small pier, 160 feet long and 60 feet wide, located
in the port of Colon adjacent to Cristobal Harbor. It is used by small
vessels in coastal trade with Panama. While under the jurisdiction
of the Panama Canal Company, the use of this pier was restricted
to vessels whose length did not exceed 125 feet.





PANAMA CANAL COMPANY


Coniparratie cominiried caryo nmvninrrnts. in tons of cargo steve-
dnrcdi aind finarcinl r sult. thcreif a2t ;i. I'~ allows:
Fiscal year
1958 1957
Cr,nlji,-,l c:>r .. miii,.,.en-,l. I..t: -,-:r, ;ip ..nJ ipier._ 940, 527 1, 050, 165
r. pi.---------------------------------..................... 892, 560 999, 440
Total r. tn -.......... ..-------------....----.....-- -- 1, 833, 087 2, 049, 605
Inc,,m--------.............................-------------------..---.....-----....-- $4, 191, 109 $4, 528, 316
Epene.........---------------...............-- ..------......-- ...---..---- $3, 823, 724 $3, 737, 436
Net ii mern.: -------------------------------- $367, 385 $790, 880
The nar iink-rl.inir- oipei'ration % lhii.h is the other prime function
ol the Terminail Diviioii is .iincernled pruriarily with the pumping
1and i\\uwarl liaii -lie, of ptrlndmin pi ductis from tankers to storage
tanii;-, lioiti Cnmipaiy aiLd privately nw-ned, and the outward handling
of -iilh products from storage tanks to vessels or to tank farm loading
phint form for local consumption.
Tit, increase in receipts in view of an overall decrease in the work-
load was in a large measure due to the discontinuation of the practice
of loaning products among local oil companies. The decrease in
overall workload is due primarily to reduced bunkers to vessels,
reflecting in part the depressed state of shipping, and to the return
to regular trade routes and bunkering at other ports of shipping that
wis diverted to the Panama Canal during the Suez Canal closure.
Tli.. following comparative workload data is furnished for fiscal
yenr.; 1958 and 1957:
Fiscal year
Workload 1958 1957
o'rnhine.- receipts (Cristobal and Balboa) --------- 8. 686, 386 8, 589, 190
Cmbinr, issues (Cristobal and Balboa) ---------- 7, 724, 516 8, 359, 083
Total barrels of products moved ------------ 16, 410, 902 16, 948, 273
T'nii:, rs- discharging (Cristobal and Balboa)-------- 127 120
Vessels bunkering ------------------------------- 2, 823 3, 061
PRINCIPAL ENGINEERING AND CONSTRUCTION PROJECTS
Bridge, Balboa, C.Z.
Construction of a high-level bridge spanning the canal channel on
the Pacific side of the isthmus is scheduled to begin during the coming
fiscal year. The completion of this bridge will fulfill treaty commit-
ment- made hb.tween the United States of America and the Republic
of Pai';-, n1i.
During November 1957, a contract was awarded to an engineering
coa'mprdvi 1 make preliminary studies and estimates. A five-man
Board C'on-ii-ltants was appointed for the purpose of evaluating
ilesigns aid tn provide general engineering consulting services. This
hoard coisilts of: Ralph A. Tudor, Panama Canal Company Board
rnrmlncr; Hoilatii P. Davis, Dean Emeritus of the University of West
Virgriiaia; F C Turner, Deputy Commissioner and Chief Engineer
it thi. Bureau of Public Roads; Edward B. Burwell, Jr., retired Chief
Gicolog;st of the Office of the Chief of Engineers; and Aymar Embiury
II, bridge architect of New York.
On April 10, 1958, the preliminary engineering report was presented





SUPPORTING OPERATIONS


to the Panama Canal Company and the Board of Consultants. A
three-span, arch-truss-type bridge was selected as the most feasible
from the standpoint of design, cost, and ease of construction, and a
contract for the full design of the bridge was awarded. A considerable
amount of preliminary work remains to be done, much of which will
hinge on the selection of the alignment of the bridge and its approaches
which were still under study at the close of the fiscal year.
This bridge will permit uninterrupted highway traffic movement
across the canal. Its overall length will be slightly over 2 miles
from the ends of the highway approaches on the east and west sides.
The main span crossing the canal will be 1,128 feet long and will have
a minimum clearance of 201 feet above the canal at mean high tide.
The bridge will connect with Thatcher Highway on the west, while
the east side approach will provide vehicular outlets directly to the
Canal Zone and Panama City street systems at the Canal Zone-
Republic of Panama boundary limits.
Under a schedule for the bridge project submitted by the engineering
firm, preparation of the design plans and specifications can begin in
July 1958. It is anticipated that a contract for the substructure work
will be let by July 1, 1959, and the contract for the superstructure
shortly thereafter. Contracts for the approaches are scheduled for
award in December 1958 and February 1959. The project is sched-
uled for completion by December of 1962.
Sixty-cycle power conversion program
Eighteen major contracts were in progress during fiscal year 1958.
Included in these were five closely related replacement projects which
are being coordinated with the power conversion project. The five
related project contracts total $3,477,400 and the 13 conversion project
contracts total $7,030,800. The remaining major projects in the
power conversion program are: System voltage correction, $381,500;
conversion of unit No. 6, Gatun hydroelectric station, $230,000. The
contract for the conversion of Gatun, Pedro Miguel, and Miraflores
Locks amounts to $2,005,000. This contract is included in the total
for the five related contracts.
Conversion of all 25-cycle consumer equipment in the Atlantic
area to 60-cycle operation was virtually completed. In the Central
area, consisting of Gamboa, Santa Cruz, Summit, and Paraiso, con-
sumer equipment was completed except for the Gamboa pump station
and substation transformers. Conversion of the Pacific area com-
menced and proceeded energetically on or ahead of schedule
Again the principal impediment to fieldwork was the co u-lt'illy
recurring delay in receipt of materials ordered from U.S. manufacturers
or suppliers.
Phase I of increased dependable capacity of the locks
A 60-foot extension to the south end of the overhaul shed at Mira-
flores Locks was started and will be completed in fiscal year 1959. It
is required for storage of additional overhaul equipment involved in
Phase I.
All openings from side and center culvert laterals in the chamber
floors at Pedro Miguel and Miraflores Locks were reshaped to fit





PANAMA CANAL COMPANY


thl. I;;t,-iI :u]v-rt plug-i. Extensive cracks and open construction
jints In : iulret lat-erals were found at Pedro Miguel A]l bu.se
b,_tw eel II:,ir -laIb aid culvert riser were closed with c-iumient morln'tr.
Theie remain to i::. co-alI.' a great many open construction joints and
I,.:rI"-k- i laterals ltad r,'ers in both lanes of Pedro Miguel Locks.
Tl'ii. miu-t i:,.e ,oI t.:, 4.al off leakage to a point where use of the
IaIteral :.ulvrt plgIs will be practical.
A sluic: ;;:t*, wais installed in the center culvert drain at Pedro
Nl1iu,.Il to lI:a.-ilit:at its control. Two elevator shafts, one in each
level, e ..T ::nii'usttr:tI at Miraflores, and one shaft at Pedro Miguel
Lo'ks for lirc..t ic:.:.. to the center culvert. A well for the culvert
d.wlt,.ri- pjmp w4 c.:,nstructed at the south end of the center
,ulv,:it ait MirNltior:.- :ld a similar well was constructed at the south
cr.i ,:..t P1,.:rd I iig, l.
.1 i !(l l,ii ,,,'i a ,I -,t l, / 1,1ejects
Other major engineering and construction projects initiated or
concluded during the year included the remodeling of the Governor's
residence; construction of executive quarters for the Lieutenant
Governor; modernization of the Administration Building and instal-
lation of air conditioning, Balboa Heights, and modernization of the
Terminals Building in Cristobal; remodeling of the former Ancon
Commissary to provide office space; alterations to Balboa Heights
Post Office; rehabilitation of Coco Solo housing project; reconstruction
of the air-conditioning system in the Civil Affairs Building; designs
for retail store and gas station at Coco Solo, Civil Defense Control
Center, and the Pacific side passenger and freight terminals; site
development studies for a new housing development, studies and
designs for improvements to quarters; rewiring of Administration
Building, Cristobal, and replacement of electrical distribution system,
Cristobal piers; replacement of raw water pumps and appurtenances
at the Gamboa pump station; replacement of pumping and electrical
systems for locks caisson No. 1; replacement of streets at Old Cristobal
and Margarita; and remodeling of BOQ for an elementary school at
Coco Solo.
Operations, and capital construction by contract
Nearing the fiscal year's end, contracts in force reached a peak
of $4,200,000 in March and April, and finished the year with $3,800,000.
This was a 280 percent increase over the $1,500,000 at the beginning
of the year. Forty-one Company/Government operations contracts
were awarded during fiscal year 1958 having a total value of $693,000.
Forty-seven contracts for capital construction were awarded for a
total of $3,414,000 and the earnings amounted to $980,000.
Boyd-Roosevelt highway maintenance
Regular maintenance and emergency work was accomplished on
the 45.81 miles of this highway located within the Republic of Panama.
Emergency work consisted of the removal of road-blocking slides
and replacement of failed culverts.






36 SUPPORTING OPERATIONS

Sosa Hill quarry
The quarry continued at a higher level of production than for the
previous fiscal year.


Unit
Quarry and crushing-------------- cubic yard ...-----
Concrete mixing plant ------------- ---do --------
Asphalt mixing plant...-----..------- ton----------


Daily
capacity
385
230
160


Produced Produced
fiscal year fiscal year
1958 1957
38, 532 31, 030
4,538 3,511
13, 134 6, 053






/ir/ te IV


ADMINISTRATION

MAJOR ORGANIZATIONAL CHANGES
During the past fiscal year a number of organizational changes were
made in an effort to improve efficiency within the operations and to
provide better service to all concerned.
Effective July 1, 1957, a Tabulating Section was established in the
General Ledger and Processing Branch of the Accounting Division,
to replace the Machine Tabulating Section of the Administrative
Branch.
Effective July 1, 1957, the general accounting functions of the
Supply Division were transferred to the Supply Accounting Section
in the Office of the Comptroller.
Effective July 14, 1957, Plant Accounting Branch and Plant
Evaluation and Transfer Staff, were merged into one organizational
unit, the Plant Accounting Branch.
Effective October 1, 1957, the Commissary Division, Hotels Wash-
ington and Tivoli, Service Center Division, and Division of Store-
houses were consolidated into the Supply Division of the Supply and
Community Service Bureau. This division now consists of the
Commissary Branch, Service Center and Hotel Section, Motion
Picture Unit, and Storehouse Branch. The Housing and Grounds
Division was subdivided into Grounds Branch and Housing Branch.
Effective October 6, 1957, the Aids to Navigation Section of the
Marine Bureau was consolidated with the Dredging Division of the
Engineering and Construction Bureau.
On November 3, 1957, the responsibility for direction of the Pro-
curement Division was transferred from the New York office to the
Supply and Community Services Bureau, Canal Zone.
Effective November 7, 1957, the Hotel Washington was turned
over to the Republic of Panama. Also transferred on this date to
the Republic of Panama was pier No. 3, of the Terminals Division
operation, Atlantic side.
On December 1, 1957, the U.S. Navy turned over the Flamenco
Island signal station to the Marine Bureau, Port Captain, Balboa,
for operation and maintenance.
Control of the Company/Government's capital obligations and
exp[nlilturi-. was transferred from the Comptroller's office to the
Enrgiii-. riiig and Construction Director.
MAJOR PERSONNEL CHANGES
Col. Hugh M. Arnold (USA) (CE) was reassigned to Lieutenant
Gov. 'i ior-Vice President, effective July 10, 1957, vice Colonel Herman
,W Si ,1111, Jr. (USA), relieved from duty July 9, 1957.
Col. John D. McElheny (USA), Lieutenant Governor-Vice Presi-
(:.I-t-I-signatit,. :iirriv,'d in the Canal Zone preparatory to assuming
diuitis up'.i, .I,:pai, l-r. of Col. Hugh M. Arnold, July 12, 1958.






ADMINISTRATION


Capt. Peter Grosz, Jr. (USA), was detailed from the U.t' "uny as
Military Assistant to the Governor, effective July 12, 1,5.7, vice
Major David H. Smith (USA), relieved from duty July 26, 1957.
Lt. Col. Robert D. Brown, Jr. (USA) (CE), was detailed from the
U.S. Army, effective August 3, 1957, as Engineering and Construction
Director, vice Colonel Hugh M. Arnold (USA) (CE), reassigned.
Mr. Lester A. Ferguson, General Manager, New York Operations,
was reassigned to the position of Supply and Employee Service
Director, effective October 29, 1957, vice Mr. Wilson H. Crook,
deceased.
Mr. John J. Barton was transferred May 29, 1958, from the Pro-
curement Division, to General Manager, Supply Division, Supply
and Community Service Bureau.
Capt. James A. Flenniken (USN), was appointed Port Captain,
Balboa, May 18, 1958, vice Captain Anthony C. Roessler (USN),
relieved from duty with the Panama Canal Company May 8, 1958.
Mr. Edward N. Stokes, Superintendent, Railroad Division, was
separated by reduction in force, effective July 31, 1957.
ORGANIZATION CHART
A chart of the Panama Canal organization as of June 30, 1958, is
included with this report.
FORCE EMPLOYED AND RATES OF PAY
The full-time force employed by the Panama Canal Company as
of June 30, 1958, totaled 10,844, an increase of 310, or 2.94 percent,
over the number employed on June 30, 1957. The increase consisted
principally of temporary employees who were employed for locks
overhaul.
The highly diversified activities of the enterprise include a large
number of different functions, and almost every employment category
will be found in the organization. For many years only citizens of
the United States were eligible for employment in executive, super-
visory, professional, subprofessional, and clerical positions. During
the past several years, however, properly qualified citizens of the
Republic of Panama have been eligible for appointment to these
positions in which special education, training, or other high qualifica-
tions are a requisite. The rates of pay for such positions, normally
referred to as "U.S.-rate positions," are based on rates fur im,ilar
positions in the Federal service in the United States plus, normally, a
25 percent tropical differential allowed in the case of U.S. citizens.
All positions for which the predominant area of recruitment is the
Panama labor market constitute a second category, the Canal Zone
wage group. The rates of pay within this group are based generally
upon locally prevailing rates of pay. At the present time, most of
these positions are those occupied by nonskilled or semiskilled workers,
helpers, laborers, etc. However, the number of skilled positions in
this group is increasing due to the increased utilization of non-U.S.
citizens in all positions for which suitably qualified local a|ppliica:ul I
can be obtained. Most of these positions are filled by persons
indigenous to the areas adjacent to the canal, although a scattering
of nationals of other countries is included.








PANAMA CANAL COMPANY


PRESIDENT
OF THE
UNITED STATES C.A


STOCKHOLDER


BOARD OF DIRECTORS



| | PRESIDENT .



COMPTROLLER VICE PRESIDENT SECRETARY
RESPONSIBILITIES AS SET RESPNSIBILITIES AS SET RESPONSIBILITIES AS SET
FORTH UNDER ARTICLE Z FORTH UNDER ARTICLE Y FORTH UNDER ARTICLE V
SECTION 5. PANAMA CANAL SECTION 4 PANAMA CANAL SECTION 6, PANAMA CANA
COMPANY YLADS COMPANY EYLAWS COMPANY 9TLATS


STAFF


I
OFFICE OF
GENERAL COUNSEL
GENERAL COUNSEL

LEGOPL MATTERS
LEGISLATION





OPERATIONS


I I
PUBLIC SAFETY
INFORMATION OFFICE BRANCH
INFORMATION OFFICER CHIEF
SUPERVISION AND PROMOTIDI
PUBLIC INFORMATION ACTIVITIES OF SAFETY MEASURES
PUBLICATION OF PANAMA CANAL DEVELOPMENT AND IMPACVEM


_________________________________________________ t


I
ENGINEERING AND
CONSTRUCTION
BUREAU
DIRECTOR
DESIGN a CONSTRUCTION
MAINTENANCE OF BUILDINGS,
STRUCTURE ES B UTILITIES
'STREETS. ROADS 8 SEWERS
PUBLIC UTILITY OPERATIONS
SURVEY ANO MAPPING
METEOROLOGY a HYCROGRAFy
CHA-,l MAINTENANCE
HWVERNMIT-. *---l,'


I
SUPPLY AND
COMMUNITY SERVICE
BUREAU
DIRECTOR
PROCUREMENT
STOAEHOUSES
EMPLOYEE SALES
EMPLOYEES QUARTERS
t8UILOINGS AND GROUNDS
*CEMETERIES
GUEST HOUSE
INCLUDES GOV'T PROPERTY
'GOVERNMENTAL FUNCTIONS


TRANSPORTATION
AND TERMINALS
BUREAU
DIRECTOR
TERMINAL PIERS AND DOC.S
CANAL 7.NE FREIGHT AGENT
FOR PANAMA LINE
MARINE BUNKERING
CTOR TRANSPUTATIGN
PANAMA RAILROAD


I
NEW YORK
OPERATIONS
CHIEF PANAMA LINE
ADMINISTRATIVE OFFICE
GENERAL PROCUREMENT II]
STEAMSHIP LINE
I1 ROCUREM T 3 F SOIAM
LINE


DIRECTOR


STOCKHOLDER
-oH WLBER M BRUCKR SEC'" OF flMY





ASST IAG Onf.T


PREsGOENT JUHN 0 -LsENt
COLONEL. I S ARMY
E-" M LL .UICI AN

ATRLER PHILIP L STEERS JH
















ADMINISTRATIVE
ASSISTANT


N GNFRAL OFFICE MANAGEMENT
UENT PRESIDENT
N CIDDEOINATION OF ACMJNISTRATIVE
SERVICES AND PROCEDURES
OER aUTIES SP'OCICAU.
ASSIGNED







ADMINISTRATIVE
BRANCH
CHIEF
ER CORRESPONDENCE

FILE S AND RECORDS
A EMPLOYEE TRANSPORTATION
OLPLICATiNE
STrAMS 1P ASE.... A.SN.

OP-- 1 1IF


I
EXECUTIVE
PLANNING STAFF
CHIEF
LON RANGE PLANNING
CAPITAL BUDGET
MANAGEMENT STUDIES
CANPER CONTROL
CANAL TRAFFIC STATISTICS
ECONOMIC STUOIES
ANNUAL AND MONTHLY REPORTS


I
PERSONNEL
BUREAU
DIRECTOR




CENTRAL LABOR OFFICE


I
MARINE
BUREAU
DIRECTOR

PORT OPERATION
SLO. KS

sV REPAIR
BOARD O" LOCAL INSPECTION
ADIEASUR MENT
SCBARDING PARTIES





PANAMA CANAL COMPANY 39
The full-time f.onr, ...f the Company for employees paid at U.S.
rates on the isthmus numbered 2,463 on June 30, 1958, as compared
with 2,389 on June 30, 1957, an increase of 74, or 3.10 percent. The
full-time force of those paid at Canal Zone rates numbered 8,381 as
of June 30, 1958, in comparison with 8,145 on June 30, 1957, an
increase of 236, or 2.90 percent. In addition to employees in the
Canal Zone there were 381 U.S. citizen employees in the New York
office and 1 U.S. citizen and 10 non-U.S. citizens employed in Haiti
on June 30, 1958, as compared with 380 in the New York office and
1 U.S. citizen and 9 non-U.S. citizens in the Haiti office on June 30,
1957, an increase of 2.
The number of employees by function will be found in tables 30
and 31, chapter V, pages 111 and 113.
EMPLOYEES PAID AT U.S. RATES'
Turnover in force
Three hundred and eighty-four full-time employees for whom
replacements were required terminated during fiscal year 1958, as
compared with 345 in fiscal year 1957. There were 85 employment
in addition to the 384 terminated employees who were replaced.
The net turnover rate (based on replacements on total terminations)
was 10.9 percent as compared with 9.8 percent in fiscal year 1957.
Voluntary terminations for the year totaled 222, a rate of 6.3 percent,
in comparison with 217, a rate of 6.2 percent in the previous year.
Involuntary terminations for fiscal year 1958 totaled 162, a rate of
4.6 percent, in comparison With 188, or a rate of 5.3 percent in fiscal
year 1957.
Recruiting
Of the 469 full-time additions to the isthmian U.S.-rate force
during fiscal year 1958, 81, or about 17 percent, were recruited from
the United States, and 388, or about 83 percent, were recruited
locally. The addition of these 469 employees represents an accession
rate of approximately 13.3 percent.
At the close of fiscal year 1958, there were 45 U.S. requisitions
pending, covering 58 U.S.-citizen positions.
Wages
On June 20, 1958, Public Law 85-426 granted a 10 percent increase
in wages for Classification Act employees, retroactive to January 12,
1958. On May 27, 1958, Public Law 85-426 granted a similar
increase for postal employees, retroactive to January 11, 1958,
Wages of a number of other U.S.-rate groups, including craft, super-
visory, floating equipment, power branch, railroad, printing plant,
and miscellaneous, were adjusted upward during the fiscal year.
The total annual cost involved was $2,024,392. The cost for fiscal
year 1958 amounted to $893,261.
1 Statistics in this section cover both Panama Canal Company and Canal Zone Government employees.





40 ADMINISTRATION
EMPLOYEES PAID AT CANAL ZONE WAGE RATES
Wages
No changes were reflected in the Canal Zone wage rate schedule
during the fiscal year. Automatic and administrative pay increases
at a total cost of approximately $153,608 per annum were given to
2,954 employees during fiscal year 1958. Annual increases were
given to approximately 100 schoolteachers in July 1957.
Cash relief for disabled employees
The Cash Relief Act of July 8, 1937, as amended, affords a non-
contributory, unfunded system for the payment of gratuities to
employees of the Panama Canal Company and the Canal Zone
Government who are disabled through age or disease. This act
provides for a maximum monthly benefit of $1.50 multiplied by the
number of years of service, not to exceed a total of $45.
During fiscal year 1958, monthly payments averaged $167,857
($155,700 for the Company and $11,500 for the Government). The
average monthly payment per case was $37.81 for the Company and
$38.78 for the Government, with a combined average of $37.88.
New applications totaled 339, of which 295 were approved for
payment, as compared with 162 received and 89 approved for pay-
ment in fiscal year 1957. The increase in applications is the result of
a policy of deferment begun in 1957 for all of those employees reaching
62 years of age pending passage of legislation to bring non-U.S.
citizens under coverage of the Civil Service Retirement Act. This
legislation was not passed during the first session and consequently
those persons deferred in fiscal year 1957, as well as those employees
who became disabled or who reached age 62, were considered for
disability relief in fiscal year 1958.
Removals from the disability relief rolls due to death or subsequent,
reemployment totaled 255 for the Company and 19 for the Govern-
ment. The number of disability relief beneficiaries as of June 30,
1958, totaled 4,456 (4,154 for the Company and 302 for the Govern-
ment).
Repatriations
During fiscal year 1958, $1,304 was expended for the repatriation
and rehabilitation of four former non-U.S.-citizen employees and
their eight dependents. The number who can qualify under present
regulations is extremely small and this function is now of little con-
sequence.
Separations
Separations of Canal Zone rate employees were for the most part
involuntary. Of the 1,202 separations in fiscal year 1958, 7 were due
to reductions in force, 279 were transfers to the disability relief rolls
or deaths, 734 were terminations of temporary employees and dis-
charges; 182 were resignations.
2 Statistics in this section cover both Panama Canal Company and Canal Zone Government employees.





PANAMA CANAL COMPANY


INCENTIVE AWARDS3
During the fiscal year 1958 the Company/Government organization
continued its program designed to stimulate beneficial suggestions
and meritorious performance of employees throughout both agencies.
Emphasis was placed on the quality of suggestions rather than on
tii. qjniiitity of contributions. This year 378 contributions were
re ,iVn-,,1 in comparison with 503 in fiscal year 1957. Twenty-two
honorary award recommendations and 49 suggestions were approved
har ra!ih awards totaling $3,235. Tangible savings resulting from
the adoption of the suggestions are estimated at $51,824 per year, the
hIlnheI. estimate in the history of the program begun in 1956.
SAFETY PROGRAM
The safety program of the Panama Canal Company and the Canal
Zone Government is designed to develop and improve the program
of accident prevention, including the coordination of occupational
health, sanitation, and fire-prevention activities, and by reducing
disabling injuries, reduce the frequency rate, severity, and cost of
accidents. These functions and responsibilities are further emphasized
by the Federal Employees' Compensation Act, which in part authorizes
and directs the heads of the various departments and agencies to
develop, support, and foster organized safety promotion.
The Company/Government accident prevention program made
gains in important areas during fiscal year 1958 over the previous
3-year average even though the year's activities included a hazardous
locks overhaul and the Panama Line operations were, for the first
time, included in the Company's safety records. The most notable
single gain among the various bureaus and the New York operations
was that of the Transportation and Terminals Bureau which less-
ened its disabling injury rate by a total of 50 percent during the
past 3 fiscal years despite the fact that a large part of its operations
include high accident-risk stevedoring work. This Bureau's steve-
doring frequency rate for the calendar period 1955-57 was 9.27 as
compared to the 46.50 average reported by the National Safety
Council, for the entire stevedoring industry in the United States
(luring the same period. In addition, the Marine Bureau and the
Engineering and Construction Bureau made marked improvements
in reducing disabling injuries to their personnel over the same period.
During the fiscal period, the safety program successfully strove to
foster more active supervisor and employee participation in the
program and a greater sense of responsibility on the part of these two
groups for its success. The collective welfare was highlighted in terms
of relief from painful injuries while obtaining tangible employment
and other benefits from immediate and long-range economy of opera-
tion through the reduction of wasteful accidents. Stress was placed
upon tile importance of joint employee, supervisor, and manage-
ment teamwork in accident prevention, which resulted in more closely
knit efforts on the part of management officials and employees, and
consequently in safer, improved equipment, conditions, and work
I Statistics in this section cover both Panama Canal Company and Canal Zone Government employees.


495687-59----4





ADMINISTRATION


practices. The results of this approach and its reception by super-
visors and employees have been such that increased reduction in
accidents is anticipated for fiscal year 1959. It is believed that the
groundwork has been provided for long-range improvement in acci-
dent prevention in all areas of the Company/Government.
Two fatalities occurred during the period and 127 disabling injuries
were sustained, resulting in considerably increased compensation costs
and arbitrary lost-time charges. However, this is the second lowest
number of disabling injuries recorded in a single year since 1941, or
since the opening of the canal for that matter. The fatality rate this
year is equivalent to 1 accidental death for every 6,775 employees, as
compared to the national average of 1 death for every 4,348 workers
employed, as reported for calendar year 1956 by the National Safety
Council. There were three injuries causing permanent partial dis-
ability as compared to four last year, and there was one permanent
total disability case this fiscal year.
This year's disabling injury frequency rate of 4.64 represents a 39-
percent increase over last year's rate of 3.35. However, this was the
third time in the history of the organization's accident prevention
program that the frequency rate was lower than the most recently
published national average of 6.27, which was a new low experienced
by all industry during the calendar year 1957, as reported by the
National Safety Council. This year's severity rate of 787 represents
an increase of 395 percent over the 1957 rate of 159. This rate repre-
sents the time charges in days per million man-hours of exposure.
Disabling injuries increased by 44 percent this fiscal year in compari-
son with only 88 sustained during 1957.
As a result of the safety achievements earned throughout the period,
the National Safety Council presented its highest award, the Award
of Honor for calendar year 1957 to the Company/Government and
to the Transportation and Terminals Bureau. This award is earned
on the basis of "outstanding improvement" in both disabling injury
frequency and severity over "par" rates prescribed by the Council
to rule out chance fluctuations.
The Governor-President Annual Safety Trophy, awarded each
calendar year to the bureau achieving the highest percentage im-
provement in disabling injury frequency rate over its own previous
3-year average, was awarded to the Transportation and Terminals
Bureau for their 64-percent improvement in 1957.
Safety Statistics
Fiscal year
1958 1957
Employee-hours of exposure --------------------- 27, 342, 000 26, 251, 000
Disabling injuries ------------------------------- 127 88
Injuries causing permanent partial disability------- 3 4
Injuries causing permanent total disability-------- 1 0
Frequency rate -------------------------------4. 64 3. 35
Severity rate 2----------- ....--------------------.. 787 159
Number of fatalities ---------------------------- 2 0
Days charged ---------------------------------- 21, 516 4, 163
1 Disabling injuries per million employee-hours of exposure.
2 Severity rate is the time charged in days, per million employee-hours of exposure.







0
,1


Hon. George H. Roderick Presenting Safety "Award of Honor" to Governor Potter.





PANAMA CANAL COMPANY


LEGISLATION
During fiscal year 1958, Congress enacted six laws, briefly discussed
1bl.l1,r, whi.Ih apply t. or- aftf:.' I (hi: ranal eiit.-rpris-. 'il ahii illiion t..
:ip lIIop i:illiIri acts Oaril vt'i,.i; ge:iejtr:,Il acts w' i j ,il:.-1 in pru livi'i
a.ppli, ill to these azE-.nies ot to the Canal Zone).
The act of August ,0, 19'.:7 (Piibli,_ Law 85-223, 85th C(:"ng.; 71
Stat. 509), authorized the conveyance of various lands and improve-
m,nts to tio PtltR-public of Panama in fulfillment of the 1955 treaty
iinl 'c-i,:-nllp lii 'Is nme H llO I'.l in,Jit of understandings.
Th: ac:'t of August 30, 1957 (Public Law 85-231, 85th Cong.; 71
Stat. 514), amends the Fair Labor Standards Act of 1938, as amended,
to m.:larify its application in the Canal Zone and certain other overseas
; I l :'1'i .
The act of February 20, 1958 (Public Law 85-331, 85th Cong.; 71
Slat. Ir.W, amends section 216(b) of the Merchant Marine Act, 1936,
Ua 1 ;miri-nI,II. to provide for appointments of cadets from the District
of (_'olirni:i, Guam, American Samoa, Virgin Islands, and the Canal
Zone. The effect of this act, so far as the canal enterprise is con-
cerned, is to include the Governor of the Canal Zone among officials
authorized to nominate candidates for annual competitive examina-
tions for the Academy, and provide for the allocation of two vacancies
each year to the Canal Zone.
The act of March 17, 1958 (Public Law 85-346, 85th Cong.; 72
Stat. 37), amends the Canal Zone Code to provide for the transfer
to the Canal Zone postal revenues of the amounts of money orders
issued by the Canal Zone postal service and remaining unpaid after
20 years from date of issuance.
The act of May 19, 1958, amends section 831 of title 5 of the Canal
Zone Code so as to make it a felony to injure or destroy communication
facilities in the Canal Zone.
The act of June 18, 1958 (Public Law 85-460, 85th Cong.; 72
Stat. 200), amends the definition of the term "State" in the Veterans'
Readjustment Assistance Act and the War Orphans' Educational
A--ist.iLnm. Act to clarify the question of whether the benefits of those
;:ti mia., be afforded to persons pursuing a program of education or
training in the Canal Zone.










FINANCIAL REPORT AND
STATISTICAL DATA


FINANCIAL STATEMENTS AND RELATED SUPPLEMENTARY
REPORTS FOR THE YEAR ENDED JUNE 30, 1958
The financial statements of the Panama Canal Company appearing-
in tables 1 through 11, with the accompanying notes, fairly present
the financial position of the Company at June 30, 1958, and the finan-
cial results of its operations for the fiscal year then ended. Tables 9
through 11 were previously published on October 10, 1958, as an
official release to the press and were included in the Annual Report of
Board of Directors to Stockholder.
All statements have been examined by the Internal Audit Staff of
the Company, and are subject to audit by the General Accounting
Office. Audit reports of the General Accounting Office are directed to
the Congress and are printed as congressional documents.
Supplementary information concerning funds, operating results,
payments to the U.S. Treasury, net direct investment of the U.S.
Government, and retained revenue is presented in the tabulations and
comments which follow:
Source and application of funds
The following is a condensed statement of funds provided and
applied during the year ended June 30, 1958:
FUNDS PROVIDED:
Income from operations (table 3)------------- ---------- $2, 656, 382
Add back nonfund transactions:
Provision for depreciation -------- $5, 262, 336
Provision for locks overhaul ---------- 1, 040, 800
Amortization of slide hazard 200, 000
Miscellaneous ----------------------. 50, 261
6, 553. 397
Total funds from current operations ------------ 9, 209, 779
Currently realized proceeds from sale of SS Panama ------- 1, 069, 500'
Excess of market over book value of Canal Zone Government
properties transferred to Republic of Panama under 1955
treaty----------------------------------------------- 372, Ilo
Decrease in accounts receivable ------------------------ 640, 368
Decrease in inventories ---------------------------------- 23, 343
Increase in current liabilities ----------------------------- 145, 164
Appropriation for Panama Canal bridge --- --------------- 750, 000
Total funds provided ---------------------------------- 12, 210, 694





PANAMA CANAL COMPANY


F'cUNE APPLIED:
AcqiI,,itIiun -f I x, I-\J u-.t- .............. ... 7. 73S. 274
L, net plal t r 1i -6 -- ---.-.-. -- .-.---- ... 3111, 10S
7. 427. 866
C,.,t .l' -, rhTiuil of ,c.-i, l I ...k- ....................... .. 2. 7%4 548
Ircrea e iii can- ....................................... I, 791, 211
Irir.a.-e in other current an;.: -..-..... ... 8, 014
P'aama Caial bridge :-xp diture ...........---------.----- 187, 055
Total urnd- ppl.d..--...----...-..........----------------.----------.... 12, 210, 694

tli1 ( ;,ul '-''. rv t;inJ ,., i/t
-'.iia,. it_ reoIganization on July 1, 1"51, the Panama Canal Company
ha; c:rompleted 7 years of operation without cost to the American
taxpayer. Net revenue for the fiscal year ended June 30, 1958, after
provision for payiiw,.-nt to the U.S. Treasury of $8.8 million interest
on the U.S. G(.v,.-rlrm niri's direct investment, and $10.7 million cover-
ing net co-zt of the (Canal Zone Government, was $2.66 million as
t vminpurenlI with net revenue of $3.82 million for the preceding year.
A to dollar volume of traffic, fiscal year 1958 was the best in the
history of the Panama Canal. Tolls and tolls credits reached an all-
time high of $42.8 million, as compared with the previous highs of
$39.7 million for the preceding year and $37.5 million in 1953. The
decline in net revenue was caused by a sharp rise in operating expenses,
primarily due to wage increases, which more than offset the increase
in tolls.
Net direct investment of the U.S. Government
Certain properties, having an appraised market value of $4.8 million,
were transferred to the Republic of Panama to fulfill treaty obligations.
Additional properties, having an appraised market value of $14.7
million, will be so transferred during subsequent years. Public Law
85-223, approved August 30, 1957, provides for a reduction in the
interest-bearing investment of the U.S. Government for the economic
loss based on market value of such properties transferred and on net
capital loss of certain properties which have become excess due to
the Treaty.
Retained revenue
As provided by section 246 of title 2 of the Canal Zone Code, as
amriended, the Company's retained revenue consists of all net revenue
from :peratioti of the Company and its predecessor, the Panama
Railroad Company (New York), from and after 1904 plus the undis-
trilhjr.ed net revenue prior to 1904. All capital repayments made to
the U.S. Government by both corporations are treated by law as re-
payments of the Government's direct investment in the Company and
serve thereby to reduce the interest-bearing portion of the Govern-
ment's equity. The amounts thus applied to date are shown in Table 2,
Comparative Statement of Equity of U.S. Government.
Retained revenue, exclusive of a $10 million emergency fund held by
the U.S. Treasury, increased from $85,564,383 at June 30, 1957, to
$88,548,430 at June 30, 1958. The composition of retained revenue
is detailed in Table 2, Comparative Statement of Equity of U.S.
Government.






FINANCIAL REPORT AND STATISTICAL DATA


Table 1.-Statement of Financial Condition, June 30, 1958


Assets
CURRENT ASSETS:
Fund balances with U.S. Treasury and cash:
Fund balances:
Checking account .---- $26, 862, 697
Allocation from U.S.
Government agen-
cies-------------- 8, 905

Cash in commercial banks, on hand and
transit---------------.---.....-.. .


$26, 871, 602

3, 892, 555


Notes receivable --------------------------------------.

Accounts receivable:
Canal Zone Government -------------- $1, 387, 436
Other U.S. Government agencies -------..... 513, 374
Others------------------------------ 1,438, 172

Inventories, principally at average cost
(table 7):
Materials and supplies, less allowance of
$1,047,906 for excess, obsolete, and in-
active stocks -------.---------------- $4, 491, 880
Merchandise held for sale ------------- 3, 412, 911


$30, 764, 157

1, 069, 500


3, 338, 982






7, 904, 791


Other current assets---------------------------------- 201, 339

Total current assets-------------------------------- 43, 278, 769

LONG-TERM NOTES RECEIVABLE ---- ---------------------- 2, 139, 000

FIXED ASSETS (note 1 and table 8):
Cost ....---------------------------------. $598, 011, 736
Less depreciation and valuation allowances-- 185, 562, 286
412, 449, 450


PANAMA CANAL BRIDGE:
Fund balance with U.S. Treasury ---------- $590, 382
Construction work in progress --------------............ 159, 618


750, 000


DEFERRED CHARGES AND OTHER ASSETS-----------..-...--.....-------.... 4, 044, 907


462, 662, 126






PANAMA CANAL COMPANY


Table 1.-Statement of Financial Condition, June 30, 1958-Continued
Liabilities and equity


I.' nI;r lR ; Li rI ILITIF ::

l' S ;i *:ron t .'iL -rcies ..- .. ..-.
I tIIbT -r. -...... .......- ---- .. ------

Du-. U S. Trj-iIrv-
Ne ,:t -:.t t i,.,I Z.on Government .---
Interest on net direct investment -------
Annuity payment to Republic of
Panama ---------------------------


$1,355,164
2,349,927

$1,644,310
710,994

35, 833


Accrued liabilities:
Salaries and wages ------------------- $1,794, 103
Employee's accrued leave ----.---------. 6, 606, 940
Damages to vessels ------------------- 463,833
Others------------------------------------- 432,230
Customers' deposits and advances (includes
Army funds of $8,905)-------------------------------


$3,705,091


2, 391, 137




9,297, 106

345, 149


Other current liabilities ---------------------------------- 315, 030

Total current liabilities -------------------------------- 16, 053, 513


RESERVES:
Periodic overhaul of canal locks ------------
Noncapital costs of power conversion -------

EQUITY OF U.S. GOVERNMENT (note 2 and table 2):
Net direct investment, interest-bearing ------
Retained revenue, noninterest-
bearing ------------------- $98, 548,430
Less fund on deposit with
U.S. Treasury, available
on loan basis without in-
terest ----------------- 10,000, 000

Panama Canal bridge---------------------


$1,448,531
4, 000,000


5,448,531


$351,861,652





88,548,430

750,000
441,160,082


462,662,126


The accompanying "Notes Pertaining to Financial Statements" are an integral
part of this statement.





48 FINANCIAL REPORT AND STATISTICAL DATA
NOTES TO FINANCIAL STATEMENTS, JUNE 30, 1958
1. 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 246 and 412 of 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 set of locks abandoned
in the early part of World War II-totaling $89.4 million and interest
during original construction aggregating about $50.9 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. De-
preciation or amortization allowances have not been provided on
certain assets-land titles, treaty rights, and excavations of channels,
harbors, basins, and other works-costing about $281 million based on
historical practice and a construing of the Canal Zone Code as not
requiring the depreciation or amortization of such costs. Deprecia-
tion allowances on all other fixed assets are accumulated on a straight-
line group basis; losses or gains on retirements generally are charged
or credited to the accumulated allowances.
2. Equity of the U.S. Government.-The equity of the U.S. Govern-
ment in the Company consists of the net direct investment, established
in accordance with section 246 of title 2 of the Canal Zone Code, and
the retained revenues. The Company is required to pay interest to
the U.S. Treasury on the net direct investment at a rate established
by the Secretary of the Treasury. The rates for 1958 and 1957 were,
respectively, 2.482 and 2.485 percent.
An emergency fund of $10 million is available in the U.S. Treasury
from which the Company may borrow funds for authorized purposes
on an interest-free basis for limited periods. The fund was estab-
lished by the predecessor Company in June 1948 out of retained rev-
enues pursuant to section 254 of title 2 of the Canal Zone Code.
Public Law 85-223, authorizing the transfer of properties to the
Republic of Panama pursuant to the 1955 treaty, provided for a re-
duction in the net direct investment of the U.S. Government of the
market value of the properties-aggregating about $14.7 million-and
of any capital losses sustained in the relocation or disposal of facilities
resulting from the treaty. The net direct investment was reduced
$4.8 million during fiscal year 1958 representing the market values of
the properties transferred to Panama during the year.





PANAMA CANAL COMPANY


Puillic Law 753, S4th Con"',rress, directed the Company to construct,
maintain, ani :'p,,rrit.' a l,.i'h-level bridge across the canal at Balboa;
the *o.ts of .ontrIucti'in iInd of maintenance and operation to be
trpatil a-s .xtraordtniiary ..*ots incurred through a directive based on
national poli.y aud tot related ti. the operations of the Company. An
appropriation of 7.511,01i0 fi.r planning and engineering studies was
inaIdl in fi.-al yo'ar I'.1S. An additional appropriation of $19,250,000
I'or <.:nstru.tin I:. toI h, I iue b.'. ame available on July 1, 1958.
:; (',,,,/,. ., .,-It ,il,./ a 1,b/ 1 dies.-The Company has outstanding,
:lt all times, contingent and continuing liabilities in indeterminable
a tiiiunts arising principally from monthly relief benefits payable to
retired alien employees; benefits payable under provisions of the
Fd-r.al Employees Compensation Act; commitments for construction
'A n)i k, s.ippli.-, and services; and pending suits and claims.
The relief payments to be made to retired alien employees in fiscal
year 1959 are estimated at $1.9 million. Commitments under un-
completed construction contracts and unfilled purchase orders
amounted to about $8.5 million at June 30, 1958. The maximum lia-
bility which would result from outstanding claims and lawsuits is esti-
mated to be about $3 million.
Public Law 85-550, approved July 25, 1958, bringing non-U.S.-
citizen employees under the civil service retirement system resulted
in a payment to the U.S. Civil Service Commission of about $4.9
million for retroactive costs to June 30, 1958. These costs will be
recorded as an adjustment of retained income.
The Company held at June 30, 1958, negotiable U.S. Government
securities in the face amount of $770,000, deposited by customers to
guarantee payment of tolls and other charges and, on behalf of the
Canal Zone Government, securities in the face amount of $391,500
to guarantee payment of possible judgments rendered against insur-
ance companies operating in the Canal Zone.






50 FINANCIAL REPORT AND STATISTICAL DATA

Table 2.-Statement of Equity of U.S. Government, June 30, 1958

NET DIRECT INVESTMENT:
Capital stock in Panama Railroad Company -------------- $7, 000, 000
Valuation of net assets transferred from The Panama Canal
(agency) -..----------------------------------------.--- 402, 176, 883

Gross direct investment ---------.------------------------....... 409, 176, 883

Less dividends and other charges deductible from direct in-
vestment:
Capital repayments to U.S. Treasury:
Prior to June 30, 1951 ---..-----------------------.....23,994, 905
Subsequent to June 30, 1951 --------------------- 15, 000, 000
Appraised value of properties conveyed to the Republic
of Panama without reimbursement:
Dec. 16, 1943 ..... ------------------------------ 11, 759, 956
Nov. 7, 1957 ----------------------------------- 4,820,000
Property transfers, other U.S. Government agencies, net 1, 740, 370

Total deductions --------------------------------- 57, 315, 231

Net direct investment--------------------------------- 351, 861, 652

RETAINED REVENUE:
Retained revenue at July 1, 1951 ------------------------. 71, 136, 026
Net revenue subsequent to July 1, 1951 --------------------- 22, 812, 635
Extraordinary (charges) and credits to retained revenue:
Net gain on sale of SS Panama ----------------------- 4, 272, 104
Excess of market over book value of properties trans-
ferred to Republic of Panama under 1955 treaty:
Panama Canal Company properties --------------- 3, 955, 125
Canal Zone Government properties --------------- 372, 540
Provision for noncapital power conversion costs -------- (4, 000, 000)

98, 548, 430
Less fund held by U.S. Treasury ------------------------ 10, 000, 000

Retained revenue..-------------------------------------- 88, 548, 430

PANAMA CANAL BRIDGE......---------...------------------------- 750, 000

EQUITY OF UNITED STATES GOVERNMENT ...-------------------- 441, 160, 082

The accompanying "Notes Pertaining to Financial Statements" are an integral part of this statement.






PANAMA CANAL COMPANY


Table 3.-Statement of Revenue and Expenses. Year Ended
June 30, 1958


[I i. L \ U c
l .,r, ,1 1' l. .........- - -
'r-. t f.i,,r oll oi i z'. Govern-
o-. 1 --... -l. -
S' ?. ,:, =er ,., --- -----
l .it, lol' c. .ir r ... -- --

Total revenue--------------

OPERATING EXPENSES:
Direct expenses and interdivi-
sional sales and services ..-
Cost of commodities sold ------
Depreciation ---_------------

Total operating expenses ..---
Less interdivisional sales and
services-..----------------

Net operating expenses ------

OPERATING INCOME--------------


Total
$41, 843, 525

990, 481
17,706, 260
19, 970, 846
2,599,497

83, 110, 609



56,592,645
13,361, 199
5,140, 134

75,093, 978

20, 871, 875

54, 222, 103

28,888, 506


Canol
operations
(table 4)
$41, 843, 525

990,481

3, 694, 093


46,528,099



19,029, 933
-- -------
2, 030, 610

21,060,543

1, 332,584

19, 727, 959

26, 800, 140


Supporting
service
operations
(table 5)
-----------


$17, 706, 260
16, 276, 753
2, 599, 497

36, 582, 510



37,562,712
13, 361, 199
3, 109, 524

54,033, 435

19, 539, 291

34,494, 144

2,088, 366


GENERAL CORPORATE EXPENSES:
Net cost of Canal Zone Govern-
ment (table 3, Canal Zone
Government financial state-
ments) -------------------- 10,737, 194
Interest on net direct invest
ment of the U.S. Government- 8, 778, 560
Administrative and other ex-
penses (includes $122,202 de-
preciation) (table 6) --------. 6, 716, 370

Total general corporate ex-
penses ------------------ 26,232, 124

NET REVENUE ------------------- 2, 656,382

The accompanying "Notes Pertaining to Financial Statements" are an integral part of this statement.







52 FINANCIAL REPORT AND STATISTICAL DATA

Table 4.-Statement of Revenue and Operating Expenses, Canal Oper-
ations, Year Ended June 30, 1958

REVENUE:
Canal tolls .... -----------------------------------------------------------.. $41,843, 525
Credit for tolls on U.S. Government vessels....---- -------------------------------.. .. 990,481
Harbor pilotage, tug, launch, and other services---------------------------------- 3,694,093
Total revenue ................------------------------------------.---------------------... 46, 528, 099

Direct
expense
and inter-
divisional
sales and Depreci-
OPERATING EXPENSES: services action
Navigation services and control--------..-------- $6, 391, 727 $261,070
Locks operation and maintenance------------------ 5,717,016 1,224,798
Provision for periodic overhaul of locks ----------.......... 1,040,800 -
Dredging of channel and harbors---------------- 2,972,002 356,517
Amortization of cost of removing slide hazard .------ 200,000 ---------
Meteorology and hydrography ------------------ 383, 188 8, 724
Operation and maintenance of dams, reservoirs, and
spillways ---------------------------------- 81, 710 115,573
Operation and maintenance of ferry across canal.. 522, 062 52, 297
Annuity to Republic of Panama (repayment to
U.S. Treasury) ---------------------------- 430, 000 ------
Damage to vessels ---------------------------- 355,658
Other operating expenses ------------------------- 935, 770 11,631
Total operating expenses--...........------------...------........ 19,029, 933 2,030, 610
$21, 060,543
Less interdivisional sales and services --------.......---.....------------.. ... 1,332, 584
Net operating expenses -------------------------------------------------- 19,727,959
OPERATIN INCOME (table 3)-----................-------..----------...................---------------..........-----------... 26,800,140








Table 5.-Statement of Revenue and Operating Expenses, Supporting Services, Year Ended June 30, 1958

*cvctnuet '.''r.,,, ,; i p


Hales of
SUPPORTING SERVICES: commod-
Maritime services: tiles
Marine terminal operations---- --------..
Vessel repairs operations ----------------------- .........
Hotel Washington operations ------------...-- $25, 457

Total maritime services ----.--.... .---...... 25,457

Employees' services:
Commissaries ---------------------------....._ 13, 230, 516
Service centers....------------------. ----- 2,902,977
Housing operations:
U.S.-rate quarters.--------------------- -
Local rate quarters ------------ .........


Total employees' services .-..----.__

Transportation and utilities services:
Railroad ---- --------------....- .....
Motor transportation .-------------...-.. .- _.
Steamship line -----------------------------...
Power system .--- ------------.-.........--
Communication system -............. ....
Water system............----------------------

Total transportation and utilities services ....

Other supporting services:
Engineering and maintenance services.....-
Supply operations ........--------- ...-........
Scrap operations ----...-..... .. .......
Procurement division --- ------......
Tivoli Guest llouse---..................-..
Printing plant .......-- ........
Grounds maintenance........................

Total other supporting services.....___........

TOTAL OPERATI.N INCOME (table 3)-............---------


Sales of
services
$4, 758,776
1,537,238
38, 544

6,334, 558


Rental of Total
quarters revenue
------- $4, 78, 776
----.--- 1,537,238
---------- 64,001

-------- 6,360,015


Direct
expenses
and inter-
divisional
sales and
services
$4, 249,170
2, 684, 455
29,024

6, 962, 649


Cost o
common l
iles sol


$13,"24i

13, 2 -


168,728 ...- ----- 13,399,244 5,214,370 10,493,1 ',
265,206 ---------- 3,168,183 1,405,755 1,786,6'.


16,133,493 433, 934


.-------- 818,704
.--------- 124,665
46, 941 4,630,631
---------- 1,415,824
--------- 293,317
--.-----.- 1,155,122

46, 941 8, 438, 263


-------- 694,706
1,082,458 20,620
161,415 880

256, 49Ii 133,816
------.-. 18,237
------- 201,739

1,500, 369 1, 069, 998

17, 706, 260 16,276,753


1,972,651 1,972,651 993,822
626, 846 626, 846 509, 828

2,599,497 19, 166, 924 8,123,775


...--.- 818, 704 1,393, 848
-------- 124, 665 1,448,640
-...---..- 4,677,572 5, 948,511
--------- 1,415,824 1,750,292
293,317 449,169
----- 1,155,122 939,031

----.... 8,485,204 11,929,491


--------- .-

12, 279, 7' .




21, S .



21,8 r.


1'.,.,*.


,75


/., .'.. ,r .


I1 1.. ,
Io '* .7
I2 21
I "":

I '


It II .:7
I '. I1.'.


* I I : II


1~~'~'''


74
t*I IA'


I 1* 11. I 1- .I1 I 1
17 aSI I I 2


"; ',
I "i

".- -%'




1 L1 1 .
e. J-
24', .?"
l 7: I'+"


I 1 I


l l' 1" ~l
I I II"




.4. F.
4 l e.I
1,. .

I .1
I 4.**


'.1 .'


S.-r.. I .







,1 4 1 '.'
''IIl 'II'


.....----- 694,706 4,682,462 i' 7' I .. *' 11 '.2 .' 1' 1
--------- 1,103,078 3,969,428 829,0: .4 .* ',-.' I 4 I4 I.
.......-------- 162,295 44,183 85,8'. '1 I" I i. :. -:.
------- -------- 243,977 -------. *- 1 .11 1.
-.....------ 390,312 272,995 131,4.,r I .'.. : .. '- 11
------.... 18,237 338,664 ......- I I12 1. 1 3.'" l.i
......------- 201,739 995,088 .----.... 26,514 847,383 174,219 27,520

......------ 2,570, 367 10, 546, 797 1,046, 293 274, 476 9, 670, 865 2,196, 701 373, 666

2,599,497 36, 582, 510 37, 562, 712 13,361,199 3,109,524 19, 539, 291 34, 494, 144 2,088,366


- - -






FINANCIAL REPORT AND STATISTICAL DATA


Table 6.-Administrative and Other General Expenses, Year Ended
June 30, 1958

ADMINISTRATIVE EXPENSES UNDER STATUTORY LIMITATION:
Comptroller's office and staff------------------------------- $1, 901, 919
Personnel Bureau----------------------------------------- 526,648
President's office and staff----------------- 507, 727
Administrative Branch------------ ------------- 318, 262
Office of the Secretary------------------------------------- 67, 624
Provision for General Accounting Office audit services -------- 97, 329
Board of Directors' expenses ------------------------------- 15, 846
Consultants and advisers ---------------------------------- 7, 734
Branch accounting offices ---------------------------------- 263, 898
Office of Marine Director -- --------- 98, 851
Office of Engineering and Construction Director --------- 118, 494
Office of Supply and Employee Service Director -------------- 71, 612
Office of Transportation and Terminals Director------. 47, 232
General and special engineering services --------------------- 158, 404
Apprentice program------------ --------------------------- 67, 810
Public services ------------------------------------------- 76, 211
Maintenance of Company buildings ------------------------- 147, 024
Duplicating unit ------------------------------------------ 72, 130
Alien cash relief ------------------------------------------ 1,867,919
Employees' States travel ---------------------------------- 673, 806
Recruiting and repatriation -------------------------------- 200, 485
Death and disability compensation------------------------- 88, 669
Provision for retroactive pay adjustment -------------------- 146, 041
Leave liability variation -------------------------------85, 365
Contribution to Federal employees' government life insurance-- 59, 232
Other miscellaneous expense ------------------------------- 31,833
Depreciation --------------------------------------------- 99, 639

Total ------------------------------------------------ 7,817,744

OTHER GENERAL EXPENSES NOT UNDER STATUTORY LIMITATION:
Branch Accounting Office ----------------------------------...70, 715
Inventory reserve expense --------------------------------- 170,000
Noncapital losses resulting from treaty implementation -------- 467, 427
Provision for retroactive pay adjustment ---------- 247, 986
Leave liability variation ----------------------- 70, 758
Other miscellaneous expenses ------------------------------- (113, 306)
Depreciation --------------------------------------------- 22, 563

Total ------------------------------------------------ 936, 143

Total administrative and other general expenses------------ 8, 753, 887

LESS REVENUES AND OTHER CREDITS:
Revenues------------------------------------------------ 287, 835
Administrative expenses assessed to Canal Zone Government--- 750, 000
Distribution of alien cash relief ----------------------------- ',,... 554
Other transfers of costs ------------------------ ------ 33, 128

Total revenues and other credits -------------------------- 2, 037, 517

NET ADMINISTRATIVE AND OTHER GENERAL EXPENSES (table 3) ---- 6, 716, 370





PANAMA CANAL COMPANY


Table 7.-Inventories, June 30, 1958

M\IATL.i.iLi AND SUPPLIES:
Storehouse Branch:
General materials and supplies ------------------------- $3, 793, 239
Petroleum products ----------------------------------- 167, 190
Scrap ----------------------------------------------- 213,237
In transit to isthmus --------------------------------- 306, 329

4, 479, 995

Other divisions' stock:
Dredging Division ------------------------------------ 99, 471
Commissary Branch ---------------------------------- 86,570
Locks Division ---------------------------------------....104, 259
Railroad Division ------------------------------------ 186, 589
Construction and maintenance activities ----------------- 162, 158
Water system ---------------------------------------- 57, 557
Steamship line --------------------------------------- 67, 443
Industrial Division ----------------------------------- 36,003
Terminals Division ----------------------------------- 96, 817
Motor Transportation Division ------------------------- 58, 992
Printing plants --------------------------------------- 3,012
Electric power system --------------------------------- 45, 937

1,004,808

Manufacturing and repair work in progress:
Industrial Division ----------------------------------- 54, 755
Other units ------------------------------------------ 228

54,983

5, 539,786
Less allowance for losses ----------------------------------- 1, 047, 906

Total materials and supplies -----------------------------4, 491, 880

MERCHANDISE HELD FOR SALE:
Commissary Branch:
In warehouses and in stores --------------------------- 2, 648, 775
In transit to isthmus ---------------------------------- 590, 536

3, 239, 311
Service centers ------------------------------------------- 162, 488
Tivoli Guest House --------------------------------------- 6, 798
Steamship line ------------------------------------------- 4, 314

Total merchandise held for sale -------------------------- 3, 412, 911

TOTAL INVENTORIES (table 1) ---------------------------------- 7,904,791













Table 8.-Changes in Fixed Assets and Related Allowances for Depreciation and Economic Valuation,
Year Ended June 30, 1958

Fixed assets


CANAL AND OlIIIER MARINE FACILITIES:
Lands, titles, and treaty rights:
Treaty payments to Republic of Panama, 1901 ----------------.-.-........-
Depopulation of Canal Zone _--_.-. ------- ------- -----...-..... ..... ..... ....
Lands owned in fee, Colon, Republic of Panama---------------------------

Total lands, titles, and treaty rights ..--------------.........-------..--------.....

Interest during construction ------- ..- ........ -.. . --------... -.. ...- .. .... ......

Canal excavation, fills, and embankments:
Canal channel, harbors, and basins -- ---------------- -----------
Dams---------------------. ----------------- -------------- -- -- --.. ..........
Locks, excavations-------------------------------------------.-----.....-..........
Breakwaters---------------...--------------------------...--------_____.....
Spillways---- ------------------------------------------- ----------

Total canal excavations, fills, and embankments --------------------------.....

Canal structures and equipment:
Locks Division -------------------------------------- --
D redging D division -- -------- ----- --................. ... ..... ... .... .
Dams and spillway structures----
Port Captains, Balboa and Cristobal. ------.------ -- --...............
Aids to navigation ---- .- ... .. _______... ..... .....
Meteorological and Hydrographic Branch ---------------------------------------.
Ferry facilities ----------------------------------- ... ..- .. ......
Industrial Division salvage depot---
Engineering Division --... -- ----.- --.. -. .. ___._.. ___._._. __._. ____

Total canal structures and equipment-------------------------...............

Total canal and other marine facilities -----------_----------_-------------.---
OTHER MARITIME FACILITIES:
M marine Term inals Division ---- --. ... . . ... .. .......
Industrial i ..**....
H otel W' :. r,-.i .. ..... .......

Total other maritime facilities .....----............ .---.-.-- .._-_-__. -- .....__._-_..


Balances
June 30, 1967
$10,000,000
4,728, 889
1, 552, 500

16,281,389

50,892,311

227, 628, 057
14, 999, 298
11,613,816
9, 287,095
1,733,999

265,262,265

79,336, 149
12, 591,718
10, 033, 351
5, 818, 153
3,092, 328
194,087
1, 619, 434
242, 572
36,198
112,963, 990

445,399, 955

17, 500, 504
6, 550, 209
763,041


Current addi-
tions Adjustments


.... ($27, 658)

------- (27,658)



$1,041,285 --..........




1,041,285 0 --------

64,195 ......-..- .
28,168 (668)

36, 409 --.---......
8,946 74,610
3,004 .--..._-....
..-......-.. --........-
------------ _-------- --
5,076 ..--------........--

145,798 73,942

1, 187, 083 46, 284

239,641 -__-
12, 735 3,888
- - - - - -


24, 813, 754 252, 276 3,888


Balances
Transfers Retirements June 30, 1958
..------....... ----------. $10,000,000
..---------- ---------- 4,728,889
($539,960) ......-..... 984,882

(539,960) --------- 15,713,771
------------ ------------ 50,892,311


---------- -------. .. 228,669,342
------- ------- 14,999,298
.....---------. --..---. 11,613,816
-------- ------ 9,287,095
------. ------ 1,733,999

--..----. ------ -- 266,303,550

4, 415 ($148, 750) 79, 256, 009
(1,546, 645) (601,231) 10, 471,342
--.----- ------. 10, 033,351
1,155,674 (34, 718) 6,975,518
64,252 (16, 227) 3, 223,909
157 ------------ 197,248
328, 769 --..----------. 1, 948, 203
10,274 (2,360) 250,486
3,920 (1,998) 43,196

20, 816 (805, 284) 112, 399, 262

(519,144) (805, 284) 445, 308, 894

(98, 358) (115,991) 17,525,696
(246, 635) (497, 346) 5,822,851
(763,041) ........................

(1,108, 034) (613, 337) 23,348,547







SUPPORTING AND GENERAL FACILITIES:
Transportation and utilities:
Panama Railroad ---------------------------------------------------------------
Motor Transportation Division ---------------------------------------
Steamship line -------------------------------------------------------
Power system------------------------------------------------------------------
Communication system -------------------------------------------------
Water system ----... ------------------------------------------------

Total transportation and utilities ................-----------------------------------

Employee services and facilities:
Commissary Division -------- -------------------------------------
Service centers ----------------------------------------------------
Housing Division....----.....................-------------------------------------------------

Total employee services and facilities -------------------------------

Other supporting services:
Tivoli Guest House..----------------------------------------------------------
Printing plant --.__-- ----------- ----------------------------------------
Grounds maintenance -------------------------------------------------
Engineering maintenance.--.---..................................----------------------------------------
Storehouse Division -----.-------------------------------------------

Total other supporting services ... ...---------------------------------

General facilities:
Miscellaneous Company buildings ---------------------------------...................................
Miscellaneous office equipment-Isthmus ----------------------------------------
Miscellaneous office equipment-New York Office ------------ --- --------

Total general facilities......................----------.....----------------------------------.-----------

Total supporting and general facilities----..................-----------------------

Total fixed assets in service ---------------------------------- ---------

FACILITIES HELD FOR FUTURE UE. --------------------------------.........................------------------

CONSTRUCTION AND RETIREMENTS IN PROGRESS:
Construction work ---------------------------------------------------------
Retirements...............................................-----------------------------------....---.............-------------------....

Total construction and retirements in progress ----.....----------------------------------


11,736,543
2,313,491
0,147,346
21,219,240
2, 828, 237
10,664, 850

57,909,707

i, 578, 570
3,371,165
34, 132, 506

44, 082,241

422, 104
332,073
322, 716
2, 759, 738
3, 675, 6878

7,512,509

2, 933, 957
1, 058, 700
48, 062

4,040,719

113,545,176

583.758, 885

1,516,056

7, 414,878
3, 269. 547

10, 684, 425


6,157
140,924
12, 780
41,601
60,259
50, 384

312,105

77,179
9,029
179, 767

265, 975

814
8, 438
2, 137
49, 799
93, 803

154, 991

16, 959
16, 303
5,572

38, 834

771,905

2,211, 264

-----------


(7 .. r

-- --.--, '
(14,79e ........... ..'" .1 ,' .I

(14,7 .6 .

35,7 '

(55,2(. I t i t ,:' *, ', 2 ,,:'.

( 1 9 5C I i ; ,'l i 1I ,2. I S




10- .' ;:.- .. 1

1,1- -.- -. .., .-- -



- --- 79 94,083 (234,713) 2 -"I- :*
798 (12, 717) (2,009) 1,', 1 ,' *
- (539) ---------- 53,095

798 80, 827 (236, 722) 3, 924, 456

(32, 296) (2, 552, 290) (1,761,775) 109, 970, 720

17, 876 (4, 179, 468) (3, 180, 396) 578, 628,161

(2.005,317) 4,223,103 (366,436) ." Ir ..


5,264,865 (1,579) ----------
(221,827) -----------

5,043,038 (1,579) -----.......


290, 285

290. 285


12, 678,164
3, 338, 005

16, 016, 169















RESERVE FOR EARLY RETIREMENT OF 25-CYCLE POWERPLANT .......---------------- --
Total fixed assets in service, construction and retirements in progress, facilities held
for future use and reserve---------------------------------------------------------

DEFENSE FACILITIES AND SUSPENDED CONSTRUCTION PROJECTS:
Defense facilities:
Canal defense property-- ---------------------------------------------------------
Navy reserve ship repair aclell ies ------------------. -....- ----------------
Total defense facilities ---------------------------------------------------------

Suspended construction projects:
3d set of locks ------------------------------------------------------------------
Isthmian sea level canal studies, 1947 --------------------------------------------
Total suspended construction projects -----------------------------------------

Total defense facilities and suspended construction projects -------......----------
Totals ...- ----------------------------------


Table 8.-Changes in Fixed Assets and Related Allowances for Depreciation and Economic Valuation,
Year Ended June 30, 1958-Continued
Fixed assets


Balances Current addi-
June 30, 1957 tions
----- --- --- ---- --------

$595, 959.366 $7, 254,302


37,624,715 -----------
9,019,491 ------------

46, 644,206 ----- -----


38,197,203
4, 622,738

42,819,941

89,464.147

685,423, 513


Balances
Adjustments Transfers Retirements June 30, 1958


($1,989,020) $43,635 ($3, 256,547) $598, 011. 736


.------. (41,485)
(43,635) ...------

(43,635) (41,485)


37,583, 230
8,975, 856
46,559,086


---- --- --- --- ---- --- --- --- ... .-- .-- 38,197,203
...... '..... .---- -------- -.------ 4,622,738
..------------ ----------- ------------ 42,819,941

---..---.- ----..---- (43,635) (41,485) 89,379, 027

1 7, 254, 302 (1, 989.020) ...... (3, 298, 032) 687, 390, 763


See footnote on p. 61.







('AvAL AND OTHER MARINE PACILITTEs:
Lands, titles, and treaty rights:
Treaty payments to Republic of Panama, 1904.......-------------
Depopulation of Canal Zone-................................
Lands owned in fee, Colon, Republio of Panama -.-......... ...

Total lands, titles, and treaty rights -----. .......-


Allowances for depreciation and economic valuation


Balances Current de-
June 30, 1957 preciation Adjustments


Transfers


Retireme ,


-- ------------ ------------
Interest during construction-....... ---------------------------------........... $50, 892, 311 ..........

('anal excavation, fills, and embankments:
Canal channel, harbors, and basins ......------------ ------.....___. ---
Dam s------------------------------ - - --.. .... ... .....-.
Locks, excavations ------------------------ ...- ---------- ---------
Breakwaters --------------------- ..--. .. .... ... -. -- .-- .
Spillways... ------------------ ------- ----------------------- ---------

Total canal excavations, fills, and embankments ..........------------ ------------ ----------


Canal structures and equipment:
Locks Division
D redging D division ----- - ------ -------------------------"
Dams and spillway structures ---..
Port Captains, Balboa and Cristobal ..-.........- ...............
Aids to navigation -------------------------..........--
Meteorological and Hydrographic Branch ....... ...............
Ferry facilities----. ............ ... .. ... .... .. ....
Industrial Division salvage depot-....
Engineering Division... --------- ....--- ..........

Total canal structures and equipment...........--------------------........

Total canal and other marine facilities------------...........- .....

OTHER MARITIME FACILITIES:
Marine Terminals Division-- ......---
Industrial Division -..................- .......
Hotel Washington -------------...--------.. ..----------------... ...

Total oili her maritime facility les-..----------.............................


34, 326, 818
6, 589,624
3, 405, 235
4, 134,906
1, 645,313
102, 712
1, 252, 506
157, 557
19, 583

51, 634, 254

102, 526, 565

12, 555,830
4,342,190
580,120

17,478,140


$1,224, 798
356,517
115,573
182, 714
78,356
6, 745
52, 297
11,631
1,980

2,030,611

2,030,611

400 fl.7

3,320

497, 252


($655)

41, 494




40, 839

40, 839


$3, 608
(694, 373)
658, 926
46,378
296

8,413
2,711

25, 959

25, 959


$2, 085 35, 557, 309
(604,523) 5, 646, 590
.-----.-.-- 3, 520, 808
(34, 901) 4, 941,645
(14, 764) 1, 796, 777
1--- ---- 9,753
---- .------ 1,304,803
(2,373) 175,228
(1, 984) 22, 290

(656, 460) 53,075, 203

(656, 460) 103, 967, 514


(66,571) (119,425) 12,769,891
(106, 699) (504, 457) 3, 824, 909
(583, 440) ---------- -----------

(756, 710) (623, 882) 16, 594, 800


228, 669,342
14, 999, 298
11,613,816
9,287,095
1, 733, 999

266, 303,550

43, 698, 700
4, 824,752
6, 12,643
2, 033, 873
1, 427,132
87.,495
643,400
75,258
20,906
59, 324, 059

341,341,380

4, 755,805
1 ye .'

6, 753, 747


I,, :, 4 I ,.
9 I, il.lli ,,i .
.... .. i. '

--- 15,------.-

$50,892,311 -----


-- ---- -- --- -----------... .. ..

- - - - - -
















Table 8.-Changes in Fixed Assets and Related Allowances for Depreciation and Economic Valuation,
Year Ended June 30, 1958-Continued


Allowances for depreciation and economic


SrPPORTINn AND GENERAL FACILITIES:
Transportation and utilities:
Panama Railroad ------------..............--------.--------------...
Motor Transportation Division......................----------------------------
Steamship line -----------------------------------------------
Power system.--------.......---------------------------------
Communication system -----------...........-----------------------
Water system------------------------------------------------
Total transportation and utilities -----------.....-------------....

Employee services and facilities:
Commissary Division -----------------------------------------
Service centers ----------------------------------------
Housing Division-----... ----------------------------------

Total employee services and facilities--..........---.....----------------..

Tlvoil Guest House ---------------------- ---------------------
Printing plant -----------------------------------------------
Grounds maintenance ------------------- ------------
Engineering maintenance.--------------------------------------
Storehouse Division-------------------------------------------

Total other supporting services --- ---------------------------------
General facilities:
Miscellaneous Company buildings ---------------.........................
Miscellaneous office equipment-Isthmus --........------------
Miscellaneous office equipment-New York Office...------..........-------..
Total general facilities ..................--.....-----.............--

Total supporting and z. '-ial i. lia u.:. .......... ...........

Total fixed assets in service..--.......---..........-------..........------------

FACILITIES HELD FOR FUTURE USE..................... --------------


Balances
June 30, 957
$10, 286, 976
1, 244, 080
6,228,515
9, 410, 898
2, 042,594
4,693,942

33, 907, 005

4, 030, 644
1, 133,086
11, 766, 286

16, 930, 016

363, 226
224,887
213, 892
1,742,933
1,784,370

4,329,308

1,815, 746
603, 739
16, 921

2,436,406
67, 602, 735

177, 607,440
754,635


Current de-
preciation
$79, 388
235,022
167.,836
582, 190
63,547
245,226

1, 373, 209

147, 375
93, 551
721,370

062, 296

11,263
13,142
26.514
118,742
103,869

273, 530

65, 564
50, 991
5,363

121, 918

2, 730, 953
5, 258, 816

3,520


Adjustments Transfers

. -........ $I, 620
$118 (40,0950)
(1..------ (6,042)
(1,379) 846
(1, 261) (43,666)


10, 596
(41)
13, 631

24,186


(286, 075)
255
(1,004,016)

(1, 289, 836)

48


valuation Net book
Balances vaune
Retirements June 30. 1958 June 80, 1958


($8,573) $10,357, 791
(73,025) 1, 407,697
(34) 6,396,318
(228,857) 9,724,259
(5,228) 2.094,870
(181,306) 4,757,329

(497,023) 34,738,264

(48,359) 3,854, 181
(54,739) 1,172,112
(581, 360) 10,912, 911

(687,458) 15,939, 204

(a irss\ a', 1,3 1


.------ (4,155) 233,874
75 -- 9,077 249,558
---- 90,632 (101,708) 1,850,599
424 (252,356) (146,357) 1,489,950

499 (161, 676) (246, 539) 4,195, 122

..... 32, 968 (230, 980) 1,683, 298
465 (7,085) (2,006) 646,104
---- (1,033) .------------ 21,251
465 24,850 (232,986) 2,350,653

23,889 (1, 470,328) (1,664, 006) 57, 223, 243

64,728 (2,201,079) (2,944,348) 177,785,557

(1,011,805) 2,244,714 (325,864) 1,665,200


$1,374, 824
953, 902
2,763,702
11, 174,046
781,351
5,765,342

22, 813, 167

2,095, 150
2, 155, 217
21,113,044

25, 363,411

48,524
101,586
72, 272
1,031,349
1,743,365

2, 997,096

1,126,988
414,971
31, 844

1, 573, 803
52, 747, 477

400, 842, 604
1,702,206







CONSTRUCTION AND RETIREMENTS IN PROGRESS:
Construction work.---------....................------------.----......---------.....-------
Retirements------.............----------------------------------------------

Total construction and retirements In progress .........................-------

RESERVE FOR EARLY RETIREMENT OF 25-CYCLE POWERPLANT.............

Total fixed assets in service, construction and retirements in progress,
facilities held for future use and reserve ---..........................----

DEFENSE FACILITIES AND SUSPENDED CONSTRUCTION PROJECTS:
Defense facilities:
Canal defense property ............----------------------------------....
Navy reserve ship repair facilities...................................--------

Total defense facilities ............................................--

Suspended construction projects:
3d set of locks -----------------------......----..........
Isthmian sea level canal studies, 1947---- --------------

Total suspended construction projects.. -----------

Total defense facilities and suspended construction projects --.....-

Totals.............................................-........-.....-


3, 269, 47------------
3, 269, 547


2,828,317


184, 459, 939



37,624,715
9, 019, 491

46, 644, 206


38, 197, 203
4, 622, 738

42, 819, 941

89, 464, 147

273, 924.086


I Current expenditures...-----.......... ------------------------- $7, 476,130
Removal cost, plant retirements .....------------------------------- 88,580

Total....--------------------.......................................----------------------...... 7,564,710
Less salvage credits from plant retirements---.....................------------........ 310, 408

Net....................................................-----------------------------------------------......... 7,254, 302


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

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

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


5, 262, 336


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

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



2 5, 262, 336


- - ------------- -- - .. .
........... --------- 68,458 3 3:.,-' ,

-------........................ ------ 68,458 3':.3*,..

----- ----- -- (54,793) 7:3 521


(947, 077) 43, 635 (3, 256, 547) 1 -. 2 2. .,r.



............ ------ (41,485) 17 '" :'.s'
(43, 635) ---------- '..

------ (43, 635) (41,485) 4V '. .....


---------- -- ---- --.................... 38,197,203
-------............---------------------.. 4.622, 738

-----............ ....--- -----.... .. 42,819,941

.-----... (43, 635) (41, 485) 89, 379, 027

(947, 077) ------------ (3, 298, 032) 274, 941,313


.1. ? ....


- - -
- - -

- - -

- - -

412, 449, 450


2 Distribution of depreciation:
Canal operations (table 4) ...-------------------------------- $2,030. 610
Supporting services operations (table 5) ----------------------- 3 I,
Administrative and general expenses (table 6)------------------ 1--., 22

Total operations ---------------....................------------.....-----------......... 5, 262,336
The accompanying "Notes Pertaining to Financial Statements" are an integral part
of this statement.







62 FINANCIAL REPORT AND STATISTICAL DATA

Table 9.-Comparative Statement of Financial Condition, June 30, 1958,
and June 30, 1957


Assets
CURRENT ASSETS:
Fund balances with U.S. Treasury and cash -
Notes receivable--------------------------
Accounts receivable ....-------------------
Inventories------------------------------
Other-----------------------------------

Total current assets--------------------

LONG-TERM NOTES RECEIVABLE ---------------

FIXED ASSETS-------------------------------
Less allowances for depreciation ------------

Fixed assets, net..---------------------..

DEFERRED CHARGES AND OTHER ASSETS ..-------


Liabilities and equity
CURRENT LIABILITIES:
Due U.S. Treasury-----------------------
Other accounts payable-------------------
Accrued liabilities ------------------------
Other-----------------------------------

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

RESERVES:
Periodic overhaul of canal locks ------------
Noncapital power conversion costs --------

Total reserves....-------------------------

EQUITY OF U.S. GOVERNMENT:
Net direct investment ---------------------
Retained revenue ------------------------
Panama Canal bridge---------------------

Total equity---------------------------


June 30, 1958
$31,354, 539
1, 069, 500
3,311,545
7,904,791
201, 339

43, 841, 714

2, 139,000

598,198, 791
185, 562, 286

412, 636, 505

4, 044, 907

462, 662, 126


2,391, 137
3, 705, 091
9, 297, 106
660, 179

16, 053,513


June 0S, 1957
$29, 563, 328
1, 069, 500
3,951, 913
7,928, 134
193, 325

42,706,200

3,208,500

595, 959, 366
184,459,939

411,499, 427

4, 148,849

461,562, 976


3,675, 069
3,559,064
8, 061, 388
612, 828

15, 908, 349


1,448,531 3,204,278
4,000,000 ----------

5,448,531 3, 204,278


351,861, 652
88,548, 430
750, 000

441, 160, 082

462, 662, 126


356, 885, 966
85, 564,383

442, 450, 349

461, 562, 976






PANAMA CANAL COMPANY 63

Table 10.--Comparative Statement of Revenue and Expenses, Fiscal
Years Ended June 30, 1958 and 1957


REVENUF-
'.:,lli from commercial vessels --------------
T.:-l!. credits from U.S. Government vessels--
( il.. i services to shipping-----------------
Sales of goods and services-----------------



OPERATING EXPENSES AND DEDUCTIONS:
Payroll and related costs-----------------
Material and other -----------------------
Cost of goods sold -----------------------
Depreciation ....----------------------------
Reimbursement of annuity payments to Re-
public of Panama-----------------------
Net cost of Canal Zone Government --------
Interest paid to U.S. Treasury-------------



NET REVENUE ----_-------------------------


Fiscal year ended June 80
1968 1967
$41,843,525 $38, 513,404
990,481 1, 140, 116
10,054, 108 11, 120,978
30, 222, 495 35, 830, 557

83, 110, 609 86,605,055


38,399, 717
3,498,469
13,347, 951
5, 262, 336

430, 000
10, 737, 194
8,778,560

80,454, 227

2, 656, 382


Table 11.-Statement of Changes in Equity of the
Fiscal Year Ended June 30, 1958


EQUITY AT JULY 1, 1957-----------
Add:
Net revenue for the year__--
Excess of market over book
value of properties trans-
ferred to Republic of Pan-
ama under 1955 treaty:
Panama Canal Company
properties -----------
Canal Zone Government
properties -----------
Appropriation for preliminary
plans of Panama Canal
bridge ------------------



Deduct:
Market value of company
properties transferred to
Republic of Panama under
1955 treaty-------------
Provision for noncapital power
conversion costs ---------
Property transfers, other U.S.
Government agencies, net__--



EQUITY AT JUNE 30, 1958__---------


Net direct investment
$356,885,966


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

356, 885, 966




4, 820,000

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

204,314

5,024, 314

351,861,652


37, 511, 021
3, 233,909
17, 262, 958
5, 342, 265

430, 000
10, 135, 514
8, 867, 932

82,783,599

3,821,456


U.S. Government,


Retained revenue
$85,564, 383

2,656,382




3, 955, 125

372, 540


-----------

92,548, 430





4, 000, 000



4, 000, 000

88, 548,-430
88, 548,430


Panama
Canal bridge


$750, 000

750, 000


750,000









Table 12.-Ocean


FINANCIAL REPORT AND STATISTICAL DATA

Traffic Through Panama Canal, Fiscal Years 1948
Through 1958


Traffic assessed tolls
Total traffic on net tonnage basis

Number Number Panama
of Tons of of Canal net
transit Tolls cargo transit tonnage

Commercial ocean traffic


Traffic assessed tolls
on displacement
tonnage basis

Number Displace
of ment
transits tonnage


$19, 956, 593
20,541,230
24.430,206
23,906,082
26,922,532
31,917,515
33,247,864
33.849,477
36,153,842
38,444,128
41,795,905


508 1,755,134
658 2,405,519
443 1,918,785
693 2, 764, 747
774 3,383,900
1,064 5,526, 038
800 3,862,015
296 1,190,367
266 1,215, 883
269 1,117,467
279 972,110


24,117, 788
25, 305, 158
28,872, 293
30, 073, 022
33, 610, 509
36, 095, 349
39,095,067
40, 646, 301
45, 119,042
49, 702, 200
48,124,809


1,520, 569
2,217,495
1,429,283
1,165,986
3,237,311
5,049,922
2,708,380
838,305
1,150,121
922,173
791,310


1948......................--
1949-----------
1950....---- .-- .
1951.....-................-.
1952...... ................
1953- -----
1954 .....-------- .
1955.-- ---------
1956 ----9 --- .-. ..
1957------..........---...
1958....-----------


1948..----------
1949 ..--- ----
1950 --------
1951----------
1952......................---
1953.---------
1954-----------
1955.......---- -----
1956------------
1957.------------
1958...............-----------


1948-........-------
1949........................
1950-........................
1951 ---------
1952. ---------
1953 ........................
1954-...------
1955-........................
1956...............-.........
1957.- ...---------..
1958-.......................


21,711,727
22, 946, 749
26,348,991
26,670,829
30,316, 432
37,443,553
37,109, 879
35, 039, 844
37, 369, 725
39,561,595
42, 768, 015


25, 638, 357
27, 522,653
30, 301, 576
31,239,008
36,847,820
41,145,271
41,833,447
41,484,606
46,269,163
50,624,373
48,916,119


22, 902,064 14 58,398
23,473,236 22 110. 584
28, 013, 236 9 12, 807
27,180, 425 21 54, 639
30, 674, 302 24 107,732
36,678,636 18 77, 638
38,027,812 26 130,810
38, 567. 769 44 136, 9 7
41,202,961 52 126, 233
43,628,210 39 155,055
47,924,345 25 78,691


1, 551,293
2,397, 903
2,095,270
3,056,354
3,665,302
6,146.333
4,254,839
1,184,135
1,286,841
1,086,564
1,020,267


24, 453, 357
25. 871,139
30,108, 506
30, 236, 779
34. 339, 604
42, 824,969
42, 282, 651
39, 751,904
42, 489, 802
44, 714, 774
48,944, 612


857,077
688, 311
281, 542
633,799
521,625
562,186
570,506
341,199
226,813
392, 671
219,938


915,475
708, 895
294, 349
688,438
629.357
639, 824
701,316
478,186
353.046
547, 726
298,629


NOTE.-Tolls were not assessed against U.S. Government traffic prior to fiscal year 1952. Tolls indicated
for such traffic for fiscal years 1948 through 1951 are statistical figures which show tolls value for this traffic
at the prescribed rates.


Government ocean traffic


Total ocean traffic






PANAMA CANAL COMPANY

Table 13.-Traffic by Months, Fiscal Years 1957 and 1958


rr,; ,, ..
rr. ... ,.

1 '.
.I .:.I-

1.4 7,4
.1 .1.
--'ll'l 85 7
:I,:. ,h



9,187 8, 579


r.,d,..o .C ?.',.'vi 'et
f r, ;. ,
I '-' I -57
:,-; .l t ).i ,317

S,1 J. :,; ,743
-.', 1 ? I..1,0842
1. .:,', *' V,- 887
i.;; :' 894
,., 1 : ,745
A,1 '0 I1,139
I I.m*' .:. 4 ,''.,860
,:. i '. '3*", 870
., .. :: 4 ~G 927
;l3, ... :;. -'r1, 888

47, 924,345 43,628,210


Tol
1957-58 1966-57
$3,668, 461 $3,053,909
3,598,726 2,888.019
3,503,564 2.861.467
3,679,870 S :'. -*e
3,522,149 1..r'1A
3,520,572 i. ,'.*',
3,376,306 I'.1, l..'
3,103,608 3,032,647
3,627,699 3,602,541
3, 363,321 3,429,625
3,526, 28 3,551,340
3,305,101 3,484,354

41,795,905 38,444, 128


Average per
month...-------- 766 715 3,993,695 3,635,684 4,010,401 4,141,850 3,482,992 3,203,677

NOTE.-The above includes only commercial vessels of 300 tons and over, Panama Canal measurement,
or of 500 displacement tons and over on vessels paying tolls on displacement tonnage basis.


.l 1. . . .
. r r . .
r ..b-, r... ....

r .. ...r ....


M .-,A:b ... .....

I . . .
,1 .. .... ..

Total-.....


Tons of cargo
1957-58 1956-57
4,441,267 3,871,143
4, 334,306 3, 576,284
3.934,700 3,558,799
4,304,833 3.877,761
3,994,320 3,743,298
4,057, 864 4,607,944
3,735,448 4,252,657
3,420,104 3,896,981
4,055,216 4,812.784
3,863,386 4,397,018
4,072,316 4,585,965
3,911,049 4,521.566

48,124,809 49, 702,200







FINANCIAL REPORT AND STATISTICAL DATA

Table 14.-Canal Traffic by Nationality of Vessels


Nationality
Argentine.................------------.....-----
Belgian---------------------........................------
Brazilian--------------------------
British ....-------------------
Chilean -------------
Chinese .......................-------------
Colombian ...................------------
Costa Rican.--------- --------
Cuban...------.............----------
Danish ..............----------------
Dominican Republic..... .....------------
Ecuadoran----.........-------------....
Finnish..........................------------------------
French ----------------------
German--------------------------
Greek-.- ----------------------
Honduran...-------.----------
Irish.......-------.... ----..---...
Italian---------------------------
Japanese.-------------------------
Korean (South) -------------.----
Liberian........---------------.......------...
Mexican------------------------
Netherlands ..-----------------
Nicaraguan ----- ------.. ----
Norwegian...............---------------------...
Panamanian -----------------..
Peruvian .................. ....---
Philippines._ .
Piippnes---- --------------------
Spanish -------------------------
Soviet (U.S.S.R.) .. ...---------
Swedish -------------.
Switzerland.....--.......-.....---
United States.........----------......
Venezuelan.--------------........------..........


IMeasured tonnage
Registered
Number of Panama
transit Canal net Gross Net


Tolls


Tons of
cargo


1 5,341 7,625 4,583 $4,807 9,055
4 13,958 17,729 13,209 11,306 13,222
2 1,060 3,376 ------ 763 -------
1,203 7,454,501 9,841,461 5,717,737 6,591,490 7,370,112
89 490,976 718,223 414,956 440,014 507,441
54 245,415 340,085 208,918 218,469 406,575
231 679,716 823,853 452, 363 608,817 330,448
8 27,893 39,129 23, 863 25,104 51,343
2 (2) (2) (2) 1,890 ----
356 1,615,527 1,858,702 1,036,286 1,413,402 1,112,939
1 838 2,323 1,187 603 -- -----
38 113,285 144,399 80,022 100,897 46,511
30 125,314 134,703 72,195 111,801 125,884
85 527,589 654,901 373,460 475, 106 443,401
837 3,370,445 3,810,702 1,859,843 2,915,471 2,537,505
116 630,088 851,786 494, 760 549, 570 1,051,394
278 587,920 932,826 534,070 486,483 298,564
1 5,994 6,218 3,303 5,395 8,558
191 1,139,772 1,470,810 874,988 1,004,213 1,109,176
693 3,929,041 5,410,417 3,161,690 3,510,096 4,629,438
2 7,988 11,545 7,159 6,228 4,806
898 5,633,036 7,705,285 4, 602,586 4,744,043 7,802,371
1 6,985 9,313 5,364 6,286 12,149
206 1,047,290 1,523,579 873,029 911,911 899,738
81 201,178 215,788 108,222 180,620 141,211
956 4,845,380 6,128,804 3,590,818 4,160,761 4,456,990
472 2,011,759 2,695,175 1,616,712 1,674,720 2,152,332
54 154,083 214,400 127.728 140,387 226,350
23 130,580 149,283 88,744 117,522 122,770
43 181,016 247,735 164,559 153,319 180,709
3 15,198 18,697 10,189 13,678 21,850
200 1,024,867 1,246,222 739,039 906,914 748,142
3 18,675 17,181 9,620 16,808 28,779
2,023 11,672,797 15,313,156 9,034.419 10,278,951 11,267,630
2 8,840 17,382 10,986 7,160 7,416


Total:
Fiscal year 1958--------........ 9,187 47, 924,345 62,582,813 36, 316, 607 41,795, 905 48, 124, 809
Fiscal year 1957 ----.....-----.. 8,579 43,628,210 M6,915,104 33,205,307 38,444,128 49,702,200
Fiscal year 1956 ---------- 8,209 41,202,961 53,662,232 31,712,906 36,153,842 45,119,042
I Includes only commercial vessels of 300 net tons and over, Panama Canal measurement, or of 500 dis-
placement tons and over on vessels paying tolls on displacement basis (dredges, warships, etc.).
2 Displacement tonnage.
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 commercial vessels. Statistics on
these vessels, except such as pertain to displacement tonnage, have been included in the traffic summaries
shown in the preceding table. The following table presents by nationality statistics on the 25 vessels which
transited the canal during the fiscal year 1958 and paid tolls on displacement tonnage.


Nationality Type
British-.....----.................----------------------- Naval---------------
Chilean -----...................---------------------- -----do .....---------
Cuban ----------------------------- Frigate-...............
French-..... ..-----------------..... -------.... Naval-- ...----------
Liberian --------------------------- Dredge .......------------
Netherlands -----------.........................-------------- Naval-----------..
Peruvian-...... ...........------------------------- ----- do--------------
Spanish....-----........ ----------- -----do ..-----...--....
Swedish----------------------------------- ----- do--------------
Total..-...-..-........... ....... ..............---------


JDisplace-
Number of ment
transit tonnage Tolls
7 20,247 $10, 124
2 23,495 11,748
2 3,780 1,890
1 2,421 1,210
1 1,900 950
4 8,962 4, 481
3 4.852 2,426
4 ** ,, 4,475
1 4, "* 2,042
25 78,691 30.346






Table 15.-Classification of Canal Traffic1 by Type of Vessel-Fiscal Year 1958

Vessels of U.S. registry Vessels of foreign registry Total traffic
CARGO AND CARoo/PASSENGER SHIPS: Atlantic Pocific to Atlantic to Pacific to Atlantic to Pacific to
Tank ships, laden: to Pacific Atlantic Total Pacific Atlantic Total Pacific Atlantic Total
Number of transits.........-----------------------------....- 67 49 116 340 39 379 407 88 495 0
Panama Canal net tonnage----------------------- 549, 150 438, 231 987, 381 2, 632, 396 240, 333 2,872, 729 3,181,546 678, 564 3, 860,110 Z
Tolls ---------------------- ---------------------$494,235 $394, 408 $888, 643 $2, 369, 156 $216, 300 $2, 585, 456 $2, 863, 391 $610, 708 $3, 474, 099
Cargo (long tons)-----.-------------------------- 959, 851 658, 951 1,618,802 4,953, 557 384, 066 5,337,623 5,913,408 1,043,017 6,956, 425 r
Tank ships, ballast:
Number of transits------------------------------....8 31 39 23 333 356 31 364 395 9
Panama Canal net tonnage--------.............---.----......... 88, 415 245, 870 334, 285 163, 409 2, 722, 331 2,885, 740 251.824 2,968,201 3 220,025 a
Tolls.----------... ---------------------------------.......... $63, 659 $177, 026 $240, 685 $117, 655 $1, 960, 078 $2, 077, 733 $181,314 $2, 137, 104 $2, 318, 418 .
Ore ships, laden: j
Number of transits-----------------------------............. 41 41 1 136 137 1 177 178 Z
Panama Canal net tonnage---..........----.............-----------........--- .. ---------- 179, 515 179. 515 3,915 964, 417 968, 332 3,915 1,143,932 1,147,847 *<
Tolls --.-----------------------...........------------------ ---......---..--....-----... $161.564 $161,564 $3, 524 $867, 975 $871,499 $3, 524 $1,029, 539 $1,033, 063
Cargo (long tons) --------------------------------.......... 963, 850 963, 850 10 3,162,165 3,162,175 10 4,126,015 4, 126, 025
Ore ships, ballast:
Number of transit .....--......--------------------------.......... .. .. 41 41 128 1 129 169 1 170
Panama Canal net tonnage---------------- ------- 179,500 .......... 179, 500 832, 121 4.456 836, 577 1,011,621 4, 456 1, 016, 077
Tolls-...---------------------..........................--------------------- $129, 240 .......----... $129, 240 $599, 127 $3, 208 $602, 335 $728, 367 $3, 208 $731, 675
Passenger ships, laden: 2
Number of transits------------------------------- 58 52 110 110 108 218 168 160 328
Panama Canal net tonnage------.........---......--........ 377, 021 327, 808 704,829 878, 050 883. 243 1, 761,293 1, 255, 071 1, 211,051 2, 466, 122
Tolls --.....--..............................---------------------------------------....... $339, 319 $295, 027 $634, 340 $790, 245 $794, 919 $1,585, 164 $1,129, 564 $1,089.946 $2, 219, 510
Cargo (long tons)...-............--------.---............... 144, 866 316, 586 461, 452 356, 175 532, 510 888, 685 501, 041 849, 096 1, 350,137
Passenger ships, ballast: 2
Number of transits------------------------ --- ------- .................... .......... 2 1 3 2 1 3
Panama Canal net tonnage.....---------------------- -------- ----.......... .--...............--------------.. 12,939 5, 976 18,915 12, 939 5,976 18,915
Tolls---...--------------------------------------- ---------- .......... --------.........-- $9, 316 $4, 302 $13,618 $9, 316 $4, 302 $13,618
General cargo ships, laden: 3
Number of transits -------------- ----------------- 646 830 1,476 2,319 2,732 5,051 2,965 3, 562 6, 527
Panama Canal net tonnage...----.....----...........--------- 3,918,641 4,606, 519 8,525, 160 11,866,912 12, 393, 839 24,260, 751 15, 785, 553 17, 000,358 32, 785, 911
Tolls----------------------------------------- $3,526,777 $4,145,867 $7,672,644 $10.680,221 $11,154,455 $21,834,676 $14,206,998 $15.300,322 $29,507,320
Cargo (long tons).--................-------------------.........----------... 3,598,830 4,620,523 8,219,353 12,828,946 14, 639, 628 27, 468,574 16,427,776 19, 260,151 35, 687, 927
General cargo ships, ballast: 3
Number of transits----.....------------ --------------- 158 23 181 670 185 855 828 208 1,036
Panama Canal net tonnage...---------------....-------- 612, 875 128. 568 741,443 1,845,213 784, 957 2,630,170 2,458, 088 913,525 3,371,613
Tolls ------------------------------------------ $441, 270 $92, 569 $533, 839 $1,328,553 $565,169 $1,893,722 $1,769,823 $657,738 $2,427,561
See footnotes at end of table.







Table 15.-Classification of Canal Traffic' by Type of Vessel-Fiscal Year 1958-Continued
Vessels of U.S. registry Vessels offoreign registry Total traffic
Atlantic Pacific to Atlantic to Pacific to Atlantic to Pacific to
OTHER TYPE SHIPS: to Pacific Atlantic Total Pacific Atlantic Total Pacific Atlantic Total
Number of transits ----------------.--------------------------------- -- ---.----- 13 12 25 13 12 25
Displacement tonnage .----------------------------------------.--- --------- 39,916 38,775 78,691 39.916 38,775 78,691
Tolls ----------------.........................------------------------------ --------- -------- $19,958 $19,388 $39,346 $19,958 $19,388 $39,346
Cargo (long tons)--....................----------------------...........------------ ---------- ---------- ----- 12 110 122 12 110 122
Cable ships, yachts, etc.:
Number of transits-------...........--..-------------------- 10 9 19 5 6 11 15 15 30
Panama Canal net tonnage ------------....---------. 13, 665 7,019 20, 684 8,095 8,946 17,041 21,760 15,965 37, 725
Tolls ....... ................- ------------------------------------ $11,758 $6, 232 $17,990 $6, 964 $6,441 $13,405 $18, 722 $12, 673 $31,395
Cargo (long tons) ------------------------------ 1, 054 3,119 4,173 .......................------------------------------------ 1,054 3,119 4,173
SUMMARY:
Total cargo and cargo/passenger ships, laden:
Number of transit ------------------------------ 771 972 1,743 2, 770 3, 015 5, 785 3, 541 3, 987 7, 528
Panama Canal net tonnage.... -------------------4,844,812 5, 552, 073 10,396,885 15. 381,273 14, 481,832 29,863,105 20.226, 085 20,033, 905 40, 259, 990
Tolls ........................-----------------------------------. $4,360, 331 $4, 996, 866 $9, 357, 197 $13,843,146 $13, 033,649 $26, 876, 795 $18, 203,477 $18,030,515 $36, 233, 992
Cargo (long tons) -------------------------- 4,703,547 6,559,910 11,263,457 18,138,688 18,718,369 36, 857, 057 22, 842, 235 25, 278, 279 48, 120,514
Total cargo and cargo/passenger ships, ballast:
Number of transits .........................------------------------------ 207 54 261 823 520 1,343 1,030 574 1,604
Panama Canal net tonnage. -------------------- 880, 790 374,438 1,255,228 2,853, 682 3,517, 720 6,371,402 3,734,472 3,892,158 7, 626, 630
Tolls ----------------------------------- $634, 169 $269, 595 $903, 764 $2,054,651 $2, 532, 757 $4, 587, 408 $2, 688,820 $2,802, 352 $5, 491,172 *q
Total other types ships: z
Number of transits ....----------------------------- 10 9 19 18 18 36 28 27 55 z
Panama Canal net tonnage... --------------------- 13,665 7,019 20,684 8,095 8,946 17,041 21,760 15,965 37,725 z
Displacement tonnage --------------------------- ----------------- ------- 39,916 38,776 78,691 39,916 38,775 78,691 0
Tolls .------------------------------------- $11,758 $6,232 $17, 990 $26, 922 $25, 829 $52,751 $38, 680 $32, 061 $70, 741 -
Cargo (long tons)------------------------------ 1,054 3,119 4,173 12 110 122 1,066 3,229 4,295 r
Grand total ships:
Number of transits .....------------------------- ---- 988 1,035 2,023 3,611 3,553 7,164 4,599 4,588 9, 187
Panama Canal net tonnage -------------------5,739,267 5,933,530 11,672,797 18,243,050 18,008,498 36,251,548 23,982,317 23,942,028 47,924,345 M
Displacement tonnage.......------------------------...............-- ------.......------------------ 39, 916 38, 775 78, 691 39, 916 38, 775 78, 691 0
Tolls -----------------------------------$5, 006, 258 $5, 272,693 $10 278,951 $15, 924, 719 $15,592,235 $31, 516, 954 $20, 930, 977 $20,864,928 $41,795, 905
Cargo (long tons) -------------------------- 4,704,601 6,563,029 11,267, 630 18, 138, 700 18, 718, 479 36, 857, 179 22,843, 301 25, 281,508 48, 124, 809 "4
t Includes only commercial vessels of 300 net tons and over (Panama Canal measurement) for vessels paying tolls on net tonnage basis, or of 500 displacement tons and over z
for vessels paying on displacement tonnage. 0
2 Vessels certificated for more than 12 passengers. ta
'Vessels certificated for 12 passengers or less, or without passenger accommodations. -4
-*



-I


-I







PANAMA CANAL COMPANY 69

Table 16.-Laden and Ballast Traffic by Nationality of Vessels, Fiscal
Year 1958

Laden Ballast
Panama Panama
N,. ,', r Canal net Number Canal net
,%'. i. ril". Cttri irjrts tonnage Tolls oftransits tonnage Tolls
Art, rnan ..... ........ ... I 5,341 $4,807 ......-- ...................
B- ic .......................... 6,979 6,281 2 6,979 $5,025
RrAzu. iN,........................ ................. ...........------ ------- 2 1,060 763
Br ........ ................. 1, '. 6,745,143 6,070,629 144 709,358 510,738
('Ile a.......................... 420,352 378,317 9 70,624 50,849
Ci u.. ......... .......... ... 232,058 208, 852 1 13,357 9,617
C lorrJt... ... ..... ............. .222 663,450 597,105 9 16,266 11,712
C.,. i i>. 1 .:i ................... 27,893 25,104 .......... ......... ...........
S)l ....................... .. ; 1,390,127 1,251,114 59 225,400 162,288
[.: .: r.. ... ....... ....... .....................-------- -----..---. 1 838 603
E: v, lr b ............ ..... 107,399 96,659 2 5,886 4,238
F.r,L rh .......................... 119,859 107,873 1 5,455 3,928
Fr. r ................ ......... 522,394 470, 155 1 5,195 3,740
G ru .,. .. .................... ., 2,715,282 2,443,754 181 655,163 471,717
Greek.---------. ...----------------...............--.. 97 532,814 479, 533 19 97, 274 70, 037
Honduran ----------------------- 156 351,004 315,904 122 236,916 170, 580
Irish ------------------ ----------..... 1 5,994 5,395 ........ .......... ...........
Italian -------------..............--------------... 169 1,019,875 917,887 22 119, 897 86, 326
Japanese ....-------------------..------... 659 3, 784, 369 3, 405, 932 34 144, 672 104, 164
Korean (South) ------------------ 1 2,648 2,383 1 5,340 3,845
Liberian ------------------- ------ 637 3, 818,373 3, 436, 536 260 1,814,663 1,306,557
Mexican.------------------------- 1 6,985 6,286 -- ------
Netherlands -------------..................-------. 160 852,119 766,907 42 195, 171 140.523
Nicaraguan ... ......------------------ 80 198,733 178, 860 1 2, 445 1, 760
Norwegian ----------------------- 726 3, 733 819 3,360,437 230 1,111 561 800, 324
Panamanian---.------------------ 306 1,256,964 1,131,268 166 754, 795 543, 452
Peruvian .......------------------------ 48 150,117 135,105 3 3.966 2,856
Philippines ------------... --------- 23 130,580 117,522 -. ----- --- ..--.-.
Spanish -------------------------- 22 102,848 92, 563 17 78,168 56, 281
Soviet (U.S.S.R.) ----------------. 3 15,198 13,678 ------ -- -- ----
Swedish-..----------.............-------......... 177 927,600 834,840 22 97, 267 70, 032
Switzerland-----------............-----------...... 3 18,675 16,807 .................... ...........
United States -------------------- 1,759 10,414,005 9,372, 685 264 1,258,702 906,266
Venezuela ---------------.............-------- 1 4,420 3, 978 1 4, 420 3,182
Total:
Fiscal year 1958 ...... 7,546 40,283,507 36,255,156 1,616 7,640.838 5,501,403
Fiscal year 1957........ 7,332 38,634,942 34,771,448 1,208 4,993,268 3,595,153
Fiscal year 1956 ...... 6,904 35, 692, 184 32, 122,966 1,253 5,510, 777 3,967, 759
NOTE.-Above table involves only commercial vessels of 300 net tons or over, Panama Canal measure-
ment.







70 FINANCIAL REPORT AND STATISTICAL DATA

Table 17.-Frequency of Transits 1 of

[Number of vessels making
Nationality 1 2 8 4 5 6 7 8 9 10 11 12 I2 14 15 16 17 18 19 20 21
Argentine-----......... 1 --- --- -... --- --- -- -- -. .... ..
Belgium.......------...... 2 .. ... ... ... .. .. ..-.... ... ..
Brazilian----------2 -- -2 ... .......
British.------------........ 198 120 72 41 19 13 8 I 1 1 1 -- -- 1
Chilean...........---- 4 2 I .. 2 3 1 1 2 ..............
Chinese-............ --- 6 3 1 2 3 .. .. .. 1 .. .
Colombian.--..-...... 5 2 1 .. ..-- 1 .. 1 1 1 .. 1 .. 3 1 I 1 2 2
Costa Rican-....... 4 2 ................. ... .. .. .. .
Cuban -----------...- --...- 1 ..-... .. ..
Danish............ 18 20 9 6 8 3 2 2 3 4 ........ 1 2 1
Dominican 1 ... ... ... ... ............ .. .. ..... .....
Republic.
Ecuadoran--------...... 1 2 -.. 1.. ..- ----- 1 ..... ...1 ....
Finnish...-----------...... 3 2 1 2 -- 2
French------------ 4 8 6 1 2 2 3 ... .. .. .
German.--..--........ 21 51 12 17 5 10 10 9.. 1 1 2 2 5 1 .
Greek-..............-------28 16 7 1 1 1 .. .. .. .. .. I .
Honduran----........ 5 3 2 3 .-. 3 2 2 .. 3 .. 1 1 2 .. 1
Irish--- ........ 1 .. .. .. ......
Italian..--...........---------27 14 7 3 2 4 1 2 4 1 .. .. .. .
Japanese-----.......... 57 47 30 33 18 31 4 2 .. ... ..-. ...........
Korean (South).... 2 .. ........ .. .. .. ..........
Liberian..---------...... 119 80 26 21 4 7 3 3 5 2 1 1 -. 1 2 .. 6 1 ..
Mexican----------- 1 -
Netherlands -...-- 29 16 5 11 1 3 3 1 1.. 2
Nicaraguan .......- .... .. ........ .. ...11 .. 1 3 -
Norwegian---........ 67 67 29 18 14 13 9 11 2 2 1 1 3 1 -. 1 6 ....
Panamanian-....... 38 30 10 6 1 5 .. 1 1 1 .... 2 1 .. ..
Peruvian-----......... 3 3 1 2 2 1 2
Philippine.....----.... --- 3 1 1
Spanish .----------- 6 7 -- 3 1 1 .. .. .. .. .. .. ...
Soviet (U.S.S.R.).. 3 .- ... .
Swedish --..-------- 14 14 .. 9 3 7 7 1
Switzerland-------- 3 -- --- --- --- --- ---- .. ......
United States.....-. 71 63 47 30 27 27 12 18 5 15 10 2 3 8 2 3 6 3 2 .
Venezuelan.....-..-------... 2 ... .- ... .. .. .. .. -. .. -- -
Total 1958 ..... 742 577 265 213 III 140 67 51 25 33 15 14 4 16 7 16 10 24 4 8 1
Totai1957----.... 873 599 223 207 136 128 47 39 26 40 13 16 8 17 4 10 8 7 2 11 4
Total 1956..-..... 657 526 263 186 124 124 41 39 25 28 19 19 4 18 4 4 7 13 4 4 6
I Includes only commercial vessels of 300 net tons and over, Panama Canal measurement, or of 500 dis-
placement tons and over on vessels paying tolls on displacement basis (dredges, warships, etc.).







PANAMA CANAL COMPANY


Vessels Through Panama Canal

indicated number of transits] Total Total Transits

92 28 24 25 26 27 28 29 80 81 82 88 84 85 S6 88 89 40 41 42 48 45 48 49 50 52 54 ships transit per ship
- - - - - 1 1 1.00
- - - - - - 2 4 2.00
2 2 1.00
....... .......- - - -... 480 1,203 2.51
- - - - - 16 89 5.56
- - - - - 16 54 3.38
- - - - - 23 231 10.04
- - - - - 6 8 1.33
- - - - - 1 2 2.00
- - - - - 79 356 4.50
- - - - - 1 1 1.00

- - - - - 6 3 6.33
- - - - - 10 30 3.00
S -- -- - - 26 85 3.27
1 1 1 2 1 1 154 837 5.44
- - - - 55 116 2.11
- - 1 - 1 31 278 8.97
- - - - - 1 1 1.00
- - - - - -65 191 2.94
- - - - - - 222 693 3.12
2 2 1.00
1 1 - 285 898 3.15
- 1 1 1.00
72 206 2.86
S 6 81 13.50
1 1 - - - 247 956 3.87
1 2 .... 1 1 2 - 103 472 4.58
14 54 3.86
5 23 4.60
18 43 2.39
- - - - - - 3 3 1.00
- - 5 - - - - 5 200 3.64
3 3 1.00
2 1 2 2 1 1 - -- 365 2,023 5.54
2 2 1.CO
5 2 6 4 3 1 2 1 1 3 2 1 1 .... 2 .. 1 2,378 9,187 3.86
6 1 2 2 1 1 1 2 12 1 2 121 2,444 8,579 3.51
7 3 5 4 2 1 1 1 3 3 11 - 1 2,150 8,209 3.82









Table 18.-Segregation of Transits' by Registered Gross Tonnage-Fiscal Year 1958

Registered Average gross ton-
Under 2,000 to 4,000 to 6,000 to 8,000 to 10,000 to 12,000 to 14,000 to 16,000 to 18,000 gross nage per vessel
Nationality 2,000 8,999 6,999 7,999 9,999 11,999 13,999 15,999 17,999 and over Total 2 tonnage 1958 1957
Argentine------------------------ --------------- ------- 1 -------- -------- -------- -------- -------- 1 7,625 7,625 11,540
Belgian-------------------------- 2 -------- -------- 2 -------- -------- -------- -------- ------- -------- 4 17,729 4,432 4,321
Brazilian-...-----------------------...--------..-- 2 .. ---- ---------- -------- -----------------------.. ------- 2 3,376 1,688 7,874
British -------------------------..........--........... 83 34 183 338 292 125 47 19 44 31 1,196 9,841,461 8,228 8,252
Chilean-------------------------- 1 14 1 6 51 14 ------- ---------------... ------- 87 718,223 8,255 7,679
Chinese ...--------------- ------- 20 -------........ 32 -------.. -------- ---------------------- 2 54 340,085 6,298 6,382
Colombian ..................------------------- 59 85 87 ..----- -------- ------- ------- ------ ----- --..- 231 823,853 3,566 3,261
Costa Rican.------------------ 3 -------- -----............. 5 ------- -------- -------- ------ -------- -------- 8 39,129 4,891 5,344
Danish --------------..............------------ 21 103 119 63 44 6 ------- ------- ------ .-. 356 1,858,702 5,221 5,050
Dominican Republic ------------... ... --------... 1 -------- -------- ----- -------- -------- -------- ----- 1 2,323 2,323 961
Ecuadoran.----------------------- 2 35 1------- 1 ------ ------ ------------- ------ 38 144,399 3,800 3,844
Finnish .........-........- -... ---- -. 10 19 1 ------- ------- -------- ---.---- ---..- -. -- 30 134,703 4,490 5,216
French ------------...........----------- --......... ---------.... .....------. 18 35 20 ----......- 11 84 654,901 7,796 7,854
German..............-----------------........... 33 501 159 57 39 2 ------ 14 32 -------- 837 3,810,702 4,553 4,453
Greek ..... ........-----------------------.. ---...------- 3 94 15 4 -------- -------- ----- 116 851,786 7,343 6,985
Honduran................----------....... 99 98 58 23 ----- ------------------------------- ------- 278 932,826 3,355 3,044
Irish.................------------------------------........ 1 ------- ----- ----- -----.. -------- 1 6,218 6,218 5, 728 1
Italian.-----------.--------------- 5 5 2 93 78 7 1 .----- -------- --...-- 191 1,470,810 7,701 7,467 j
Japanese -----------------------... 15 ....---- --.. 8 380 279 9 2 -------- ---- ------ 693 5,410,417 7,807 7,709 >
Korean (South)........------ -------- 1 ------- 1 2 11,545 5,773 4,569 Z
Liberian-...-----------------.-------... .... 96 7 7 362 80 240 48 5 31 21 897 7,705,285 8,590 7,841 0
Mexican--------------------------------- ------- -------- ------ 1 ------- ------- ------- -------- 1 9,313 9,313 3,914
Netherlands ------- -- 22 31 6 59 29 30 17 ...- -------- 8 202 1,523,579 7,542 7,065 r
Nicaraguan....-------...---------- .. ----..... 81 -------- -------- -..--... 81 215,788 2,664 2,565 *
Norwegian ----------------------- 75 221 157 164 201 105 13 2 3 15 956 6,128,804 6,411 6,705 t
Panamanian---------------................--- 188 40 24 119 8 43 4 1 38 7 472 2,695,175 5,498 5,222 o
Peruvian....--- .....---------------------......... 2 36 7 6 --- -- ---- 51 214, 400 4,204 4,275 0
Philippine----- ------ ------- -------- 10 13 -------- ----- ------- -------- --- ---- 23 149,283 6,491 6, 760
Soviet (U.S.S.R.)..------------- -------- -------- 2 1 -------- -------- -------- ------ 3 18,697 6,232 3,747 -
Spanish ------------------------- --------.... 6 9 20 2 2 ------ --------------------39 247,735 6,352 5,402
Swedish--..................-------------------......- ------. 38 28 119 6 4 -------- 1 ----- 3 199 1,246,222 6,262 5,994 Z
Switzerland ........ -- ... ----- -.. .. 2 1 ------- -------- ------ ----- --.. ........ 3 17,181 5,727 5,901 a
Turkish--- ------ ---- --- ------- --- --- -- ----- --- -- -- ---- 9,184 in
United States---- ----- 51 2 193 1,005 624 109 23 ....-------- 9 7 2,023 15,313,156 7,570 7,537 -I
Venezuelan --..-----.. ---------- --- ------ ----- ------- 2 -------- ----..-- --------........-------- ........--------........ 2 17,382 8,691 8, 691
Yugoslav----- ---------------------------- ----------------------- ---------------- -------------- -- -------- -------- ------------------ -------- 7,:307
---- --- ---- --- ---------------------_______________ (
Total (1958) --------------- 759 1,369 1,102 3,002 1,771 700 166 42 157 94 9,162 62,582,813 6,831 6,665 -
Percent of total ..----------------- 8.3 14.9 12.0 32.8 19.3 7.7 1.8 0.5 1.7 1,0 100,0 --------- -..........----.. ...--------... 0
1 Includes only commercial ...If ir, i. .i F.i.s and over, Panama Canal measurement, r
? 5 vessels paying tolls op ii 1,*.. *.m'r .r.r.,.-. are not included. ,

-4
P





PANAMA CANAL COMPANY


Table 19.-Principal Commodities Shipped Through Canal
[Thousands of long tons)
'. .- Ir s Fiscal year
S i CIFIC 1958 1987 1956 1966
\ I[. -. ii'" '\CIFIC
I' r.:-lr uiii iil pr.-I -, '. ------------- --- 5, 964 5, 242 5, 310 4, 306
'%-' il : Ii '.-:,............................. 3, 849 3, 805 2, 996 3, 274
Ir...h :r..i -t el I :u .il .. i --..- 1, 922 2, 835 2, 131 1, 792
I-hr.-. h. .- ..---- .. .---- 1, 257 1, 523 1, 257 1, 043
-- -.v-i.--.- 814 698 746 568
g.r.. -- -- ------.........--. 654 896 787 520
r.-, .ir ..- ...........- .......... 561 612 317 187
. .:..---------.------------ 5-- 32 1, 497 498 23
'I. t..l.-. un.i. .i-.,l...----- ------ 482 316 271 233
. .:.r., r .----......-------.... --------------- 354 402 212 226
I'.i,...r :nd I .b, r r..,In .- --- ------ 353 463 433 377
lrrf:l-, .:i;.-,,,----- ------- --- ---. 341 751 122 113
Corn ---------------------------------- 338 81 175 170
Sulfur ------------------------------- 336 370 469 463
Machinery----------------------------- 334 342 301 285
Wheat-------------------------------- 307 267 218 216
Automobiles and parts ----------------- 283 304 260 268
Ammonium compounds .-----------------. 247 322 464 295
Flour, wheat --------------------------- 185 188 90 68
Fertilizers, unclassified------------------ 182 176 187 191
Canned food products- 170 193 170 190
Tinplate ------------------------------- 166 295 244 213
Asphalt ------------------------------- 166 122 119 105
Cement------------------------------- 158 226 289 300
Liquors and wines---------------------- 103 94 90 90
Potash ------------------------------- 97 248 112 40
Glass and glassware--------------------- 89 81 94 67
Electrical apparatus -------------------- 83 77 83 75
Rice---------------------------------- 81 273 164 28
Groceries, miscellaneous ----------------- 76 58 53 59
Textiles------------------------------- 71 80 78 90
Agricultural implements ----------------- 71 69 73 84
Asbestos------------------------------- 68 72 59 59
Coffee ----- 67 71 80 34
Soda and sodium compounds ------------- 65 120 70 60
Salt ------------------------------- 65 52 50 104
Slag --------------------------------- 61 52 68 66
Woodpulp------------------------- 58 69 70 64
Rubber, manufactures -------- ----------- 53 51 44 26
Resin--------------------------------- 51 56 46 42
Vegetable oils__-------------------------- 46 53 37 35
Tobacco and manufactures -------------- 45 49 57 49
Railroad materials---------------------- 42 127 100 61
Creosote------------------------------- 33 39 34 35
Pharmaceutical products ---------------- 33 30 33 34
Grains, other and unclassified ------------ 32 47 53 115
Lumber------------------------------- 31 29 24 36
W., paraffin 30 29 44 34
Carbon black_ 27 35 26 27
Paints and varnishes 27 27 29 29
Clav---------------------------------- 26 37 38 27
Floor coverings ------------------------- 25 22 29 30
Food in refrigeration 2--- _____. ___._____ 25 14 19 14
Bricks and tile ------------------------- 22 34 32 30
Confectionery-------------------------- 20 16 19 20
Soap and soap products ------------- 20 14 16 12
Tallow -------------------------------- 16 21 34 28
All others ------------------------------1,220 1,358 1,362 1,389

Total, Atlantic to Pacific------ --- 22,843 25,430 21,286 18, 419
1 Excludes asphalt.
FvcTudes fresh fruit.
495687-59-- 6






74 FINANCIAL REPORT AND STATISTICAL DATA

Table 19.-Principal Commodities Shipped Through Canal-Continued
[Thousands of long tons]


Commodity

PACIFIC TO ATLANTIC

Ores, various-----
Lumber------
Wheat------------------
Canned food products ---______________
Bananas .....---------------
Sugar------------- ----
Nitrate of soda -. _________
Metals, various ...-------------
Petroleum and products I--- --------
Barley---------------------------
Food in refrigeration 2------------
Coffee------------------------------.
Woodpulp -------------------------..
Cotton, raw---------- ____ __
Fruit, fresh (excluding bananas) --___--
Oilseeds (including oilseed cake and meal) -
Wool -. -----------------_...___._...
Copra -- ------------__--._. ____.
Chemicals, unclassified ----... ... .--- -
Fruit, dried_ ------- ________
Iron and steel manufactures----------_-
Borax --------------------.-.---------
Paper and paper products
Rice ---------------------- ___
Oils, vegetable ----------------
Rubber, crude------------ ___
Metal, scrap -----------------
Whale oil----------------- -----
Fertilizers, unclassified
Beans, edible ------------
Grains, other and unclassified------------
Phosphates -------__
Seeds, except oilseeds-------------------
Textiles --------------------------
Porcelainware -------------------------
Coal -----------------.-- ------- _-----
Wines-------------------- ---____
Molasses ------------------ ______
Flour, wheat ------------
Oats --------------- ____
Skins and hides -------___-------------
Machinery ----...------
Tallow---------------______----------___
Peas, dry --------------------
Groceries, miscellaneous -----..
Vegetables, dry.---------
Cocoa and cacao beans
Rubber manufactures ------
Hemp, unmanufactured
All others--------------------____


Fiscl year
19oo 1967 1956 1955

7,560 6,401 5,137 4,087
3, 323 2,900 3,549 3,747
1,986 2, 688 1, 478 1,387
1,286 1,311 1,301 1,221
1,082 870 936 939
1,068 1,446 1,425 1,281
1,046 867 1,167 1,271
902 935 742 789
746 752 1, 875 1,981
711 444 1,083 387
630 800 618 551
308 289 315 280
281 237 142 349
260 262 290 236
233 213 216 160
225 173 156 193
224 315 234 218
211 302 258 245
164 132 110 105
163 163 171 156
153 172 288 222
148 159 157 150
130 96 91 89
126 119 102 93
119 134 106 202
108 118 104 122
107 81 40 103
94 74 48 43
93 56 45 22
91 88 88 102
82 16 39 37
81 111 108 152
73 59 35 56
70 85 81 50
69 69 55 46
69 1 ------ 1
68 40 62 65
59 57 27 67
57 81 102 66
53 11 28 64
52 57 48 47
45 48 41 54
44 57 49 33
42 59 24 44
36 29 22 36
33 27 28 24
28 27 22 30
26 5 7 2
20 26 20 17
697 810 763 605


Total, Pacific to Atlantic ---------- 25,282 24,272 23,833 22,227
1 Excludes asphalt.
I Excludes fresh fruit.






Table 20.-Origin and Destination of Cargo through the Panama Canal from Atlantic to Pacific during Fiscal Year 1958
Segregated by Countries in Principal Trade Areas


East coast North America:
United States:
North Atlantic ports --...............
South Atlantic ports..-______________
Gulf ports ---------------..........
United States (other) 2 ...............

Total, United States...............
Canada-.......-..........-.. .........
Central America/Mexico.......... .
Cristobal, C .Z.'I---------------_ ------
West Indies----------............-.......

Total, North America-..................

Europe:
British Isles..............................
Belgium----....-..........._._.........
Denmark....-------..-.. ...--.-- ...
France.................
Italy....
Netherlands.. -- -- ----
Norway----- ------------
Poland---...-- -............-...-..
Spain-Portugal--- ------------
Sweden--------- ......... --------
West Germany........................
Europe (other) 2 --------------

Total, Europe ---.--- ----

East coast South America:
Argentine.......................... ._...
Brazil---...............................
British Guiana-- ----------
Colombia............................
Netherland Guiana ---..... ...- ...
Venezuela-----------...........................
South America (other) 2 .................

Total, South America ....---------.......
Asia----............
Africa.....................................

Grand total............................
Percent of Pacific-bound cargo--..............
Sea footnotes at end of table.


To west coast North America
Central
United America/ Balboa, Hawaiian
States Canada Afexico C.Z.1 Islands Total
1,230, 273 5, 865 66, 368 777 105, 445 1,408, 728
19, 367 --.--. 928 -.- 2,988 23, 223
646, 688 24, 343 115,334 15,298 50, 765 852, 428
----- --- .................. 11,175 11,175

1, 896, 268 30, 208 182, 630 16,075 170, 373 2, 295, 554
14, 232 28, 087 -------...--.....-------- .......-----........--42, 319
127 19 1,740 -------------- 1,886
278 12 1,251 --------------.....-- 1.541
582,770 299,154 517,299 337,504 92 1,736,819

2,493,675 357, 480 702, 920 353, 579 170, 465 4,078,119


131, 996
125, 796
12, 338
22, 403
35, 188
56, 447
43, 905
----------
12, 514
17, 811
85, 570
88, 043

632, 010


168, 956 1,678
27,698 116,643
4,253 554
7, 505 1, 836
11,711 3,921
7, 519 45, 960
762 84
--- 4, 372
499 244
1, 124 1,615
10,453 112,688
16,064 13,410

256, 544 303, 005


15.971 1,311
34,320 2,195
6,430 ........
17,839 -.--.
19,634 ........
1,616,398 .......-
691

1,711,283 3,506

103.684 12,500
61,863 2,355

5,002, 515 632,385
21.899 2.768


492
3,422
----------
127, 730

131, 644



1, 137, 569
4.980


141
1, 077








31

1,250




7,1088

72, 574

79, 682



434, 511
1.902


15
8,877
24
17
52

1, 227

76
1,662
272

12, 222













182,687
0.800


To west coast South America


Chile
317, 703
7, 871
196, 684

522, 258


438, 278

960, 536


Colombia
106, 410
11,246
122,884
193

240, 733
5,050
270
200
52, 659

298, 912


Ecuador
44, 490
6C9
39, 655
150

84, 904
335
159
1,607
20, 731

107, 736


Peru
202, 003
3, 768
302, 676
1, 042

509, 489
1, 388
49

18, 035

528, 961


South
America
(other) 2
3,450

10,276
523

14, 249
13

380

14,642


302,786 32,751 8,915 11,823 52,768 521
280, 090 57, 539 45, 439 24, 833 72, 579 4, 620
17,169 2,227 1,621 1, 081 4,182 86
31, 761 2, 355 865 1, 178 6. 555 1,060
50, 872 17, 519 1,254 946 9, 424 686
109,926 8,416 24,375 4,820 35,426 179
45, 978 331 1, 572 1, 635 2, 766 30
4,372 .----- ........ ............... ........
13, 257 25, 008 49 191 1,073 101
20,626 14, 565 5, 460 4,184 32, 209 1,809
210, 374 44, 092 39, 986 44, 461 52, 233 4, 496
117, 820 13, 020 8,015 3,717 18,607 6.477

1. 205, 031 217, 823 137, 551 98, 869 287, 822 20, 065


17,282
36, 515
6, 922
28, 369
19, 634
1, 816, 702
691

1,926, 115

116, 184
64, 218

7, 389, 667
32.349


80
143, 030

341, 309

484, 419

16, 000

1, 678, 778
7.349


860
255, 152

20, 409

276, 421



712,884
3.121


6

244

29, 150

29, 400



236, 005
1.033


861
139, 496
36
17, 029
760

158,182



974, 965
4.268


5
29


34



34, 741
0.152


Total
674, 056
23, 494
672,175
1,908

1,371, 633
6, 786
478
1.807
530, 083

1,910,787

100, 778
205, 010
9,197
12,013

6, 334
26, 422
58, 227
185, 288
49,836

762. 130

6

1,801
537, 927
36
407, 926
760

948, 456

16, 000

3, 637, 373
15. 923








Table 20.-Origin and Destination of Cargo through the Panama Canal from Atlantic to Pacific during Fiscal Year 1958
Segregated by Countries in Principal Trade Areas-Continued


East coast North America:
United States:
North Atlantic ports ------------.............--------
South Atlantic ports.---------------------------
Gulf ports--------..........--------------------------
United States (other) 2 --.---.. .------------

Total, United States------------- -----
Canada..........................--------------------------------------
Central America/Mexico..-----------------------
Cristobal, C.Z. --------------
West Indies.--------------------------------------

Total, North America ------ -------

Europe:
British Isles-----...................-----------------------
Belgium ........ ...-----------------------
Denmark _..-.... ------------------------------
France------------------------------------------
Italy ---... ----------------- -------
Netherlands --------... -------------------
Norway_ ----------------------------------------
Poland.--------. ---------------
Spain-Portugal ------------------------------------
Sweden -------------------------------------------
West Germany .... -----------------------
Europe (other) 2 ..-- ----------------

Total, Europe ----------------------------------

East coast South America:
Argentine -----------------------------------------
Brazil------------- -------------
British Guiana .------------------
Colombia -----------------------------------------
Netherland Guiana-----------------------------...
Venezuela ------------------------
South America (other) 2 ............................

Total, South America-..... -- -- ----

Asia....---------.
A fried ... .............. ... .

Grand total .------------...............................
Percent of Pacific-bound cargo-----------------------...................


To Oceania


Australia
100,559
21,149
270,537
7,801

400, 046
73,377
36,732

37, 454

547, 609


3,176


1,841

1,272






6, 289



3, 424
16,352

93, 529


113, 305




667,203
2.921


BEitish Oceania

600


600



49, 307

49,907


(S. 272
1,385


770



101


70, .528


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











120, 435
0. 527


To Oceania


French Oceania
2,466
----------
3,542
219

6,227

--------------g

617

6,844




41,636








41,636
------------------






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



---.------------- 1










48, 480
0.212


New Zealand
31,842
2,779
108,148
810

143, 579
25,362
11,005
212, 021

391,967


728,129
59, 904
310
25
1,547
18, 600
7,721
685
13,590
29,030
9, 436

868, 977


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



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







1,260,944
5.520


Oceania (other) 2
15, 564
------------------
5,172
177

20, 913


87

21,000


9,597
22










9,619














30,619
0. 134
-----------------



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



--- -- --- --





0,134 -- -- --


Total
150,431
23, 928
387,999
9,007

571,365
98,739
47,737
299, 486

1,017,327


809,174
61,311
310
43,502
1,547
20, 642
7,721
685
13,590
29,131
9, 436

997, 049


-------------------
3, 424
16,352
93, 529


113,305




2,127, 681
9.314











East coast North America:
United States:
North Atlantic ports.........------
South Atlantic ports --------.......
Gulf ports ......................
United States (other) -------........

Total, United States-.........
Canada -------...----------
Central America/Mexico-..........
Cristobal, C.Z..1 ---------
West Indies ........................


Total, North America..--------... 55,607 230,358 78,622 142,052 60,302 7,499,772 413,600 654,457 51,213 119,41 ,"' : 1 r' .' :1 4.


Europe:
British Isles--- ... ..-
Belgium ..........................
Denmark-.. .----- ....-.--------
France---------------------------
Italy----- -------
Netherlands ---------........................
Norway..---- ----------
Poland......---------------....................
Spain-Portugal --------
Sweden..- ...........----.......
West Germany
Europe (other) 2.......... ...

Total, Europe ---------

East coast South America:
Argentine .............- ... __..-
Brazil..---............ ......-..
British Guiana...-- .--.--- -
Colombia....-------..---_--..
Netherland Guiana-..............
Venezuela.....-------....--------..
South America (other) 2 ............

Total, South America --- ..

Asia---.-----................
Africa..-----------...---...---...

Grand total......................-
Percent of Pacific-bound cargo-.........


2








2


37

55, 646
0. 244


23








23


230,381
1.009


665









916

1,581


80,203
0.351


142,052
0.622


60,302
0.264


11,084
30,078
247
2,361
414
8,841



39, 685
12,900

106,510


45,522
127,678
4,880
8
40,413
253

218,754

6,128

7,831, 164
34.282


251









2, 595

2,846






10,380


10,380



426,820
1.867


216
530

6, 468
166



10, 930
693

19,003


4,822

678,282
2.971


2






142

144


12.953

12,953




64, 166
0.281


119, 558
0.523:


31,508
247
2, 361
6,909
9,007
----------
----------

50, 615
17, 246

130, 109


45,522
127,678
4,880
8

63,746
253

242, 087

10, 987

9, 688, 580
42.414


I, ", '' I 5. *
577,919 2.530
26, 923 .118
89,637 .392
89,157 .390
212,791 .931
60,033 .263
4,372 .019
40,364 .177
92,443 .405
475,388 2.081
194,338 .851

3, 04,319 13. 546


62,810
164,193
17,027
582,656
10,670
2,381,903
1,704

3,229,963

116,184
91,205

22,843.301
100.000


.275
.719
.074
2.551
086


14.139

.509
.399

100.000


I Includes both local and transshipped cargo.
2 Also Includes cargo not routed to permit segregation between definite countries.


To Asia


East
Indies
19, 629
462
32, 865
3

52, 959
1,588


1,060


Formosa
79,300
3,160
145,744
1,181

229,385
717


256


Hong-
Kong
27, 863
2,859
39, 962
491

71, 175
3, 854


3, 593


Indo-
china
60, 775
2,304
50,040
197

122,316
1,535


18, 201


Indonesia
37,409
2,111
20, 156
317

59,993
309


Japan
4,292,760
52, o27
2,436,342
9,343

6,790,972
170,321
1,943
331
536, 205


Philip-
pine
Islands
233,316
22, 287
142, 188
5,107

402, 898
6, 221


4, 481


southh
Korea
189,000
8,890
445,879
5,688

649,457


5,000


Thailand
37, 600
3, 026
8,945
204

49,775
1,438


Asia
(other:
29, 71i
6i'
56, 0.
6,5,;

92,9:;
5'1
3,9:-

21,91'


C,.,
4 C.,,
7
I,..,, 4


2 7,.,, i'.
.4


- I -
'.21 1

.I
.. :u


ci-
;- ,. ,e I
I ', ,,




i, I, '
_-2


I 4'I
.Ir.
S'I',.







Table 21.-Origin and Destination of Cargo Through the Panama Canal from Pacific to Atlantic during Fiscal Year 1958 S
Segregated by Countries by Principal Trade Areas
To United States To other North America
North South United Central Total
Atlantic Atlantic Gulf States Americal Cristobal, West North
West coast North America: ports ports ports (other) 2 Total Canada Mexico C.7.1 Indies America
United States -.....--------------------- .---------- 2,442,440 54, 923 184,707 88, 061 2,770,131 16,630 9,868 36,953 387, 851 3,221,433
Canada ------------------------------------------------------ 436, 116 5,000 32, 739 9,339 483, 194 13,639 45 925 109,567 607,370
Balboa, Canal Zone ---------------------------------- 673 1 598 ----- 1,272 .... ..... 46 3,029 4,347
Central America/Mexico ------------------- 385, 047 23,589 81,931 4,446 49, 013 6, 198 3, 384 21,987 14,782 541,364
Hawaian Islands --------------------------------------------- 261,278 14,806 166,092 12,719 454,895 9,115 .. 88 435 464,533
Total, North America ..--...........------ ------------ 3.525,554 98,319 466,067 114,565 4,204,505 45,582 13,297 59,999 515,664 4,839,047
West coast South America:
Chilest South Americ: ------------------------------------ ----------------- 3,458, 762 183, 948 385,577 96 4,028, 383 6 12,103 4,103 23,800 4,068,395
Colombia ---------------- 131,512 10,587 37,757 2,838 182, 694 118 164 858 238 184, 072
Ecuador ----------------------------------------------------- 226, 492 5,456 283, 840 6, 536 522.324 700 13 804 382 524, 223
Peru --------------- 2, 182, 285 5,377 365, 288 6 2, 552.956 3 739 2,242 2, 555, 940
South America (other) 2 -- 747 ....-- 4,920 27 5,694 ---------------- 253 5,753 11,700
Total, South America ............-- -------------------- 5,999,798 205,368 1,077,382 9,503 7,292,051 824 12,283 6,757 32,415 7,344,330 9
Oceania:
Australia ---------------------------------------------------- 133, 258 13, 964 12, 576 16, 647 176,445 149, 802 262 1,558 12,261 340,328 Z
British Oceania....----------------------------------------------- 28,453 ---------------------- --- 28, 453 --------.. -------- 5 5 28, 43
French Oceania ----------------------------------------------- 67,438 -------- ----------.-------- 67, 438 ---------------- 78 76 67,592
New Zealand ------------------------------------------------- 75,292 2,520 382 .------- 78,194 13, 858 10 777 20, 777 113,316 r
Oceania (other) 2 ............................................... 608 .-----------..--------------608 353 .. -- -------961
Total, Canada -----.........---------------------- -------------------305,049 16,484 12,958 16,647 351,138 163,713 272 2,418 33,119 550,660 g
Asia: X
East Indies--..------------------------.------------------------- 58, 348 590 40, 312 ..-- 99,250 ..-- 216 .....- 7,649 107,115
China ----------------------------------------------------------------------------- 388 ....3.8-------- -------- -------.-------- 388 )
Hong Kong -------------------------------------------- ----- 20,543 263 275 11 21,092 7 942 1,086 30 120 Z
Indochina ------------------------------------------ 2,397 --- 1 23-- 2,520 ---------------- ---------------- 2, 520
Indonesia ------------------------------------------------------ 11,910 465 8,421 ------- 20, 796 --------.--------.------------------ -20, 796
India ----------------------------------------------------------- 4,197 1------ 097 -------- 6,204 -------- 197 -------- 13 5,414 -4
Japan ------------------------------------------------------- 420, 594 10, 606 65,935 2,209 499, 344 366 36 12,198 20,945 532, 889 .
Philippine Islands -------------------------------------------- 977,220 11,540 98, 177 22, 525 1,109,462 ---------------- 3,693 893 1,114,048
Asia (other) 2 ......- ----------------------------------- 70, 281 1,089 1,753 497 73, 620 -.-.---- ------- 5,335 4,126 83, 081
Total, Asia ----------------------------------------------- 1,565.490 24,553 216, 391 25.242 1,831,676 366 449 29, 168 34, 712 1,896,371 0
Antarctica .....----------..........------------------------ ---------------- 8,227 ..... ------ 8,227 ------- -------- -------- -------- 8,227 r
Grand t ....... ..... .......... -..... 11,404,118 344, 724 1,772,798 165, 957 13,687,597 210, 485 26, 301 98, 342 615,910 14, 638, 635
Percent of Atlantic-bound cargo.....----------------------------------- 45. 109 1.364 7.012 0.656 54.141 0.833 0.104 0.389 2.436 57.903 3








T r. **ip. .


1*" ii.;'
West coast North America: ,' .
United States -----------.. .
Canada.----------------.. ;. ",-
Balboa, Canal Zone 1 ---........
Central America/Mexico- :1
Hawaiian Islands--------....... I. 7.

Total, North America. .1. I.,,

West coast South America:
Chile .......----------------....... ; :4.
Colombia -r..
Ecuador--.-..------------ 1..' I
Peru -------------------- .:'.
South America (other) .-. ., u56

Total, South America 438, 773

Oceania:
Australia---------------- 63,187
British Oceania ----------.......... 184, 181
French Oceania ----.....--.. 667
New Zealand -------..... 759,268
Oceania (other) 2--........ 20, 869

Total, Oceania-......--------. 1,028, 172

Asia:
East Indies-------------- ----------
China ..-------...-..--------.---... 748
Hong Kong-------------- ----------
Indochina--------------- ----------
Indonesia---------------- ----------
India....------------------- ----------
Japan .------------------ 27,708
Philippine Islands ... --------.......
Asia (other) 2........----. 203

Total, Asia ....------...-------. 28, 659

Antarctica-----------------.. .. 12,943

Grand total---...-...... 3,944,667


percent of Atlantic-bound
cargo.......................-


I .rt
Sl,. I l ,l, fr ., ', l., ,, f ,*, ,* ,'


;l. 1r'

,I U;1

201,013


5,709


7,457


13, 166







5,222



5, 222

10,107

629, 502


1,. r.




I

1:4
S2

27,002




11


11















75, 522


I r.t









196,214


1,814

52,897
30,514


85, 225







75



75



451, 684


I.C.











1, o&1

78, 299




2,032
9

2,050







70



70


34. 4,502


.










. 9.
9


19






19



22, 869


15.603 2,490 0.299 1,786 1.363 0.091


1 1. -," .





', ;i.'t

650, 974



----------
10,668


10, 668



516



7,715



8, 231

41,910

1,487,364


-.1. ,.i*.i






I .






2,555


97, 788


640


75





75















22, 943


I "



,. .'


I. I"

t.U



204, 684




9


9















213, 218


I. ,u





64,437



22



22




40



9,620



9, 660



132, 247


.',',', / ','i n r, ,F.0 i i ,' -I l


5.883 0.387 0.091 0,843 0.523 6.459 2,237 ','


See footnotes at end of table,.


S '




-1 n 1 II


h ,. ;''lI ., Il "



1; ,I I "I.
I, I, %I-




964,070 103, 565


1,223 --.---
4, 758 17,725
---- .. ------ -
15,433 22,118
..----- 7,660

21,414 47,503



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



......- 8,431



----......---- 8,431

9,310 -----

1, 633, 050 565, 643


11.'4', m'I.





.' 1 '.
I. ,".'


7.


2 '


72,008
206, 664
53,595
847,510
28, 538

1,208,315


748
575


58, 841

203



74, 270

9, 620, 999







Table 21.-Origin and Destination of Cargo Through the Panama Canal from Pacific to Atlantic during Fiscal Year 1958
Segregated by Countries by Principal Trade Areas-Continued


To east coast South America


Argen-
West coast North America: tine
United States -------------------- 9,208
Canada. --- .---------------------- -- 250
Balboa, Canal Zone 2 ------ 35
Central America/Mexico ...------------ --------
Hawaiian Islands -------------------- -------

Total, North America --------------- 9,493

West coast South America:
Chile---- ----------------------------------
Colombia--.------------------------ ------
Ecuador--------------------------------------
Peru ...---.- -------------------- -------
South America (other) 2 ------ --------

Total, South America--------------- --------................

Oceania:
Australia ----------------------------------
British Oceania ----------------- --------
French Oceania--------.............--------- --------
New Zealand---------- ----- --------
Oceania (other) 2. -------- -------

Total, Oceania...-------------------- --------


Asia:
East Indies ----------------------------
China ------------------------
Hong Kong -------------.-----------
Indochina ----------------------------
Indonesia ---....--------..............-----------
India----.. ... ...---------------
Japan_-------------------------------
Philippine Islands ------------------
Asia (other) 2 .-.......- ...---


Total, Asia.


Antarctica ------ ------------
G rEa i.l 1.., 1.. .. .. ... .........
Percent ol .\% ir .t i ..aJ '..,r ...........


19, 295


19, 295


28,788
0.114


Brazil
112, 819
1,192
23


114,034

3


140

143


Colombia
14,454
1,907
456
774
30

17, 621

10
9,042
7,454


16,506


33, 863 2, 009
40,794
----- 509

33,863 43,315

----.---- --------

148,040 77,442
0.586 0.306


Vene-
zuela
97,911
54,616
83
8,385
137

161, 132

12,757
8,018
20,197
71

41, 043

220

219


439

3
237



20, 513
25, 245
1,155

47, 153


South
America
(other) 2
3, 430
1, 492
2


4,924



2, 011
36

2,047


4


2, 301
5, 203
35

7, 543


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

249,767 14,514
0.988 0.057


Total
237, 822
59, 457
597
9,161
167

307, 204

12, 770
9,042
17,483
20,233
211

59, 739

220

219


439


3
244



77, 981
71,242
1, 699

151, 169


518.561
2.051


To Asia
28,318
17, 810



46,128

58,324

9,896

68,220


-3






3



114,351
0.452


To Africa
Porti.


guese
East
Africa
24,465
65,944



90, 409


Union of
South
Africa
52,813
199,082



251, 895


Africa
(other) 3
7,125
36, 203



43,388


Total
84,403
301,289



385, 692


Grand
total
5, 106, 877
4, 577, 256
7,908
715, 621
516, 221

10,923,883


5, 367,842
232,599
855,639
3,888,541
59, 903

10,404,524

412,556
235,127
121,187
961,045
29,499

1,759,414


90,409
0.358


251, 895
0.996


3, 280


3,280


40,668
0.185


3, 280


3, 280



388.972
1.539


Percent
of total
Atlantic-
bound
cargo
20. 200
18.105
.031
2.831
2.042

43.209


21. 232
.920
3.385
15.381
237

41.155

1.632
.930
.479
3.801
.117
6.959


107, 118 .424
1,136 .005
30, 942 .122
2,520 .010
20,796 .082
5,414 .022
672, 991 2. 662
1,185, 290 4. 688
84,983 .336

2,111,190 8.351

82,497 .326

25,281,508-....----
100.000 100.000


I Includes both local and transshipped cargo.
2 Also Includes cargo not routed to permit segregation between definite countries.


- - - -. .




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PAGE 1

PANAMA CANAL COMPANY CANAL ZONE GOVERNMENT ANNUAL REPORT FISCAL YEAR ENDED JUNE 30, 1958

PAGE 2

Digitized by the Internet Archive in 2009 with funding from University of Florida, George A, Smathers Libraries http:/www.aichive org/details/annualreportpanal958pana

PAGE 3

PANAMA CANAL COMPANY Balboa Heights, Canal Zone OFFICE OF THE PRESIDENT January 5, 1959. TO THE STOCKHOLDER OF THE PANAMA CANAL COMPANY: The year just ended broke all records for number of ships transiting the Panama Canal and tolls collections. A total of 9,466 oceangoing vessels were transported from ocean to ocean. These ships sailed under the flags of some 36 different nations of the world. This record level of traffic was handled with a minimum of delays to our customers. This accomplishment is especially significant in view of the fact that the periodic overhaul of the Pacific locks was performed during this period. Work was started on the canal improvements which were developed and approved in connection with the Short Range Panama Canal Improvements Study of 1957. These improvements are designed to increase the capacity of the canal to handle the anticipated volume of traffic for the next decade. The Board of Directors, through a committee consisting of three members, continues the studies of longer range canal requirements. Several elements of these studies, notably the future traffic projections, have been completed. Down through the years the Panama Canal has kept pace with world shipping requirements. It is the intention of your Board of Directors to keep well ahead of future demands on the canal by timely recommendations for needed improvements. By order of the Board ofDirectors. W. E. POTTER, President.

PAGE 4

I

PAGE 5

PANAMA CANAL COMPANY INTRODUCTION Page THE CANAL-A BRIEF DESCRIPTION .........1 ORGANIZATION ...................1 TOLLS RATES ...................2 BOARD OF DIRECTORS AND GENERAL OFFICERS .....3 COMPARATIVE TABULATION OF HIGHLIGHTS OF OPERATION ......................3 SUMMARY-PANAMA CANAL COMPANY OPERATIONS. ..4 Canal traffic ..................4 Financial results ................6 CHAPTER I-REVIEW OF CANAL TRAFFIC OCEANGOING TRAFFIC. ...............7 OTHER TRAFFIC ..................9 COMMERCIAL TRAFFIC HIGHLIGHTS ..........9 PRINCIPAL TRADE ROUTES .............10 NATIONALITY OF VESSELS ..............14 CARGO STATISTICS .................16 TRANSIT AVERAGES. ................17 DATA IN STATISTICAL CHAPTER ...........17 CHAPTER I[-THE WATERWAY TRANSITING OF SHIPS. ...............8 LOCKS OPERATION .................20 W ATER SUPPLY ..................21 MAINTENANCE OF CANAL CHANNEL .........22 REPLACEMENT OF LOCKs TOWING LOCOMOTIVES ....22 CANAL IMPROVEMENT PROGRAM ...........23 MARINE TRAFFIC CONTROL .............23 CLOSING OF GAS 'MANUFACTURING FACILITY .....23 FERRY SERVICE ..................24 CHAPTER III-SUPPORTING OPERATIONS EMPLOYEE SERVICES ................25 Supply and Community Service Bureau ......25 Supply Division ..............25 Procurement Division ............26 Community Services Division ........27

PAGE 6

CONTENTS CHAPTER IlIl-SUPPORTING OPERATIONS-Continued Page TRANSPORTATION AND UTILITY SERVICES .......28 Railroad operations ...............28 Motor transportation ..............29 Steamship operations ..............29 Electrical power system .............30 Communications system .............30 W ater system .................31 Printing plant .................31 Vessel repairs .................32 Harbor terminals operation ...........32 PRINCIPAL ENGINEERING AND CONSTRUCTION PROJECTS .33 Bridge, Balboa, C.Z. ..............33 Sixty cycle power conversion program ......34 Phase I of increased dependable capacity of the locks ....................34 Miscellaneous and other projects .........35 Operations, and capital construction by contract ..35 CHAPTER IV-ADMINISTRATION MAJOR ORGANIZATIONAL CHANGES ..........37 MAJOR PERSONNEL CHANGES ............37 FORCE EMPLOYED AND RATES OF PAY ........38 EMPLOYEES PAID AT U.S. RATES ..........39 Turnover in force. ...............39 Recruiting ...................39 W ages ....................39 EMPLOYEES PAID AT CANAL ZONE WAGE RATES 40 Wages ....'. ..40 Cash relief for disabled employees. .40 Repatriations .................40 Separations ..................40 INCENTIVE AWARDS ................41 SAFETY PROGRAM .................41 LEGISLATION ....................43 CHAPTER V-FINANCIAL REPORT AND STATISTICAL DATA FINANCIAL STATEMENTS AND RELATED SUPPLEMENTARY REPORTS NARRATIVE STATEMENT .................44 Source and application of funds ...........44 Financial operating results ..............45 Net direct investment of the U.S. Government .....45 Retained revenue ..................45

PAGE 7

CONrEfTS CHAPTER V-FINANCIAL REPORT AND STATISTICAL DATAContinued Financial Tables Page TABLE 1.-Statement of financial condition .......*. 46 Notes pertaining to financial statements ..48 TABLE 2.-Statement of equity of U.S. Government ...50 TABLE 3.-Statement of revenue and expenses ......51 TABLE 4.-Statement of revenue and operating expenses, Canal operation. ..* *. .....*. .* 52 TABLE 5.-Statement of revenue and operating expenses, Supporting services ............53 TABLE 6.-Administrative and other general expenses ...54 TABLE 7.-Inventories ...........*. .55 TABLE 8.-Changes in fixed assets and related allowances for depreciation and economic valuation .....56 TABLE 9.-Comparative statement of financial condition ..62 TABLE 10.-Comparative statement of revenue and expenses. 63 TABLE 11.-Statement of changes in equity of the U.S. Governm ent ..................63 Shipping Statistics TABLE 12.-Ocean traffic through Panama Canal, fiscal years 1948-58 .................64 TABLE 13.-Traffic by months, fiscal years 1957 and 1958 ..65 TABLE 14.-Canal traffic by nationality of vessels .....66 TABLE 15.-Classification of canal traffic by type of vessel ..67 TABLE 16.-Laden and ballast traffic by nationality of vessel. 69 TABLE 17.-Frequency of transits of vessels through Panama Canal ...................70 TABLE 18.-Segregation of transit by registered gross tonnage ...............72 TABLE 19.-Principal commodities shipped through canal ..73 TABLE 20.-Origin and destination of cargo through the Panama Canal from Atlantic to Pacific segregated by countries in principal trade areas .....75 TABLE 21.-Origin and destination of cargo through the Panama Canal from Pacific to Atlantic segregated by countries in principal trade areas ......78 TABLE 22.-Cargo shipments by trade routes-Atlantic to Pacific ..................81 TABLE 23.-Cargo shipments by trade routes-Pacific to Atlantic ................84 TABLE 24.-Important commodity shipments over principal trade routes-Atlantic to Pacific ......88 TABLE 25.-Important commodity shipments over principal trade routes-Pacific to Atlantic ......98 TABLE 26.-Small vessels transiting canal .........109

PAGE 8

CONTENTS CHAPTER V-FINANCIAL REPORT AND STATISTICAL DATAContinued Other Statistics Page TABLE 27.-Water supply and expenditures ........110 TABLE 28.-Dredging operations .............110 TABLE 29.-Electric power generated ...........111 TABLE 30.-Number of full-time employees paid at U.S. rates 111 TABLE 31.-Number of full-time employees paid at Canal Zone wage rates. .............113

PAGE 9

CONTENTS CANAL ZONE GOVERNMENT Page Letter of Transmittal ..................115 Introduction ......................117 Canal Zone Government ..............117 Organizational changes ...............117 Major personnel changes ..............117 CHAPTER I-PUBLIC HEALTH Sanitation .....................119 Preventive medicine ................120 School health ...................120 Quarantine ....................121 Veterinary activities ................121 Hospitals and clinics ................122 CHAPTER l1-PUBLIC EDUCATION General description .................124 Enrollments ....................124 Special education ..................125 Plant .......................125 Library-Museum ..................125 CHAPTER IlIl-PUBLIC ORDER AND PROTECTION Police activities ..................127 Court activities ..................128 Pardon board ...................129 Fire protection ...................129 Civil defense ....................129 CHAPTER IV-POSTS, CUSTOMS, AND IMMIGRATION Postal system ...................131 Customs, immigration, and shipping commissioner services .......................132 Visas .......................132 CHAPTER V-LICENSES, INSURANCE, AND ESTATES Licenses ......................133 Insurance .....................133 Administration of estates ..............134 Foreign corporations ................134 CHAPTER VI-MUNICIPAL IMPROVEMENTS Roads, streets, and sidewalks ............135 Maintenance of quarters, hospitals, and public buildings .135 Sewer system ...................135

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CONTENTS CHAPTER VII-FINANCIAL REPORT AND STATISTICAL DATA Financial Statements and Related Supplementary Reports Page NARRATIVE STATEMENT .................136 Invested capital ..................136 Capital additions ..................137 Financial results ..................137 TABLE 1.-Statement of financial condition ........138 TABLE 2.-Statement of changes in equity of U.S. Governm ent ...................140 TABLE 3.-Statement of operations ..........141 TABLE 4.-Changes in fixed assets and related allowances for depreciation and economic valuation .....142 STATISTICAL DATA ...................144 Personnel data ...................144 Area of the Canal Zone ...............145 Illustrations Chart-Panama Canal tolls ...............5. Chart-Oceangoing transits ...............8 Photograph-SS Santa Mercedes making 200,000th commercial transit of canal. ....faces page 10 Chart-Traffic moving over principal trade routes .13 Chart-Nationality of transiting vessels .........15. Photograph-The Vanda, of Honduran Registry, completed 50 transits during fiscal year 1958 ........faces page 11 Photograph-Tanker SS Gultking in transit at Pedro Miguel Locks ................faces page 2a Photograph-Repairing Culvert Failure in East Chamber, Pedro Miguel Locks ..............faces page 21 Photograph-Suction dredge Mandinga placed in operation November 1957 ................faces page 22 Photograph-Architectural rendering of bridge to span canal channel at Pacific entrance ...........faces page 23 Chart-Panama Canal Company organization ....faces page 38 Photograph-Hon. George H. Roderick presenting "Award of Honor" to Governor Potter ..........faces page 42 Chart-Canal Zone Government organization. ...faces page 144

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THE CANAL The Panama Canal is a lock-type canal that connects the Atlantic and the Pacific Oceans through the Isthmus of Panama, traversing a distance of approximately 51 miles from deep water to deep water. In the dredged channel, the canal has a minimum width of 300 feet and a minimum depth of 42 feet. The greatest part of the canal channel is at the level of Gatun Lake, the surface of which is normally 85 feet above sea level. In transiting the canal a ship is raised in three steps from sea level to the level of Gatun Lake, and subsequently lowered in three steps to sea level at the other side of the isthmus. The six steps or flights of locks are in duplicate, to enable simultaneous lockage of two ships transiting in the same direction or of ships passing in opposite directions. The past fiscal year marked the completion of 44 years of successful operation of the canal. The canal was opened on August 15, 1914, and has served world commerce without major interruption since fiscal year 1916, when the last canal-closing slide occurred in Gaillard Cut at the Continental Divide. A total of 274,529 vessels of all types have made the canal transit, of which 206,734 were oceangoing commercial vessels plying the various channels of world trade. The service provided by the canal has, moreover, been of incalculable value to the United States and her allies in time of war. ORGANIZATION The Panama Canal Company Act, which created the Panama Canal Company and defined its basic purposes, organization, rights, powers, and obligations, constitutes article 3 of chapter 12 of Title 2, Canal Zone Code, consists of sections 245 to 258 of Title 2, Canal Zone Code, and was enacted by the act of June 29, 1948 (62 Stat. 1076), as amended by the act of September 26, 1950 (64 Stat. 1041). This act became effective on July 1, 1951, pursuant to the provisions of Executive Order 10263 of June 29, 1951. In its capacity as owner of the Company, the U.S. Government is represented by the Secretary of the Army, referred to as "Stockholder," in his individual capacity as the personal representative of the President of the United States for such purpose. The Company operates under the management of a Board of Directors appointed by the Stockholder. The Company is charged with the maintenance and operation of the Panama Canal and the conduct of the business-type operations incident to such maintenance and incident to the civil government of the Canal Zone. 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 interrelated in mission, organization, and operations. The combined function of these agencies is the administration of the Panama Canal enterprise as a whole. The Governor of the Canal Zone, who is charged with the administration of the Canal Zone 1.

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2 INTRODUCTION Government, under the supervision of the Secretary of the Army, is ex officio a director and President of the Company. The Panama Canal Company is expected (a) to recover all costs of operation and maintenance of its facilities, including depreciation; (b) to pay interest to the Treasury on the net direct investment of the Government in the Company; and (c)-to reimburse the Treasury for (1) the annuity payments to the Republic of Panama under the convention of 1903 as modified by the treaty of 1936 between the two governments, and (2) the net costs of operation of the Canal Zone Government, including depreciation on fixed assets. The interest rate for the fiscal year 1958, as set by the Secretary of the Treasury, was 2.482 percent. The Board of Directors is required to appraise, at least annually, the Company's working capital requirements, together with reasonable foreseeable requirements for authorized plant replacement and expansion, and to pay into the Treasury as a repayment of capital the amount of any funds in excess of such requirements. All funds other than working balances are carried with the U.S. Treasury. The activities of the Company are classified under two major headings, namely: (a) the canal and (b) supporting operations. Category (a) embraces those functions directly related to the waterway and the transiting of ships and to services to shipping, including maintenance of the canal channel, maintenance and operation of the locks, meteorology and hydrographic services, and a ferry service across the canal at Balboa. The supporting operations include vessel repairs, and harbor terminal operations, a railroad across the isthmus, a steamship line operating between New York and the Canal Zone, motor transportation facilities, storehouses, an electric power system, a communications system, and service activities that are essential to employees' needs including the operation of quarters, retail stores, and service centers. TOLLS RATES The rates of canal tolls remained unchanged during the year. These 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-that is, the net tonnage 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 for the canal remain substantially at the level established in 1912 in anticipation of the completion of the construction of the canal.

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PANAMA CANAL COMPANY 3 BOARD OF DIRECTORS AND GENERAL OFFICERS OF THE PANAMA CANAL COMPANY AS OF JUNE 30, 1958 Board of Directors Hon. WILBER M. BRUCKER, Secretary of the Army, Stockholder Hon. George H. Roderick, AsHoward C. Petersen. sistant Secretary of the Army, Maj. Gen. William E. Potter, Chairman of the Board. USA. John H. Blaffer. Charles S. Reed. Robert P. Burroughs. Ogden R. Reid. Ralph H. Cake. Maj. Gen. Julian L. Schley, Maj. Gen. Glen E. Edgerton, USA (Ret.). USA (Ret.). Ralph A. Tudor. John W. Martyn General Officers GEORGE H. RODERICK, Chairman of the Board. Maj. Gen. WILLIAM E. POTTER, USA, President. Col. HUGH M. ARNOLD, USA, Vice President. PHILIP L. STEERS, Jr., Comptroller. WILLIAM M. WHITMAN, Secretary. COMPARATIVE TABULATIONS OF HIGHLIGHTS OF OPERATIONS Fiscal year 1958 1957 Net income_----------------------------------___ $2,826,381 $3,821,456 Number of oceangoing transits: Commercial.------------------------------9,187 8,579 U.S. Government ------------------------------279 269 Total-----------------------------------9,466 8,848 Tolls earnings (including small vessels): Commercial-----------------------------41, 843, 525 38, 513, 404 U.S. Government --------------------------990, 481 1,140, 116 Total ----------------------------------42, 834, 006 39, 653, 520 Total cargo transiting (long tons)----------------48, 934, 829 50, 649, 835 Lockages: Gatun------------------------------------8, 548 8,053 Pedro Miguel.------------------------------8,815 8,260 Miraflores -------------------------------8, 655 8,244 Terminals operations (tons of cargo handled, transferred, and stevedored at piers)----------------1,833,087 2,049, 605 Oil handling (number of barrels pumped).---------16, 410, 902 16, 948, 273 Maintenance of channel (cubic yards dredged)-----5, 156, 700 5, 010, 600 Number of full-time company employees (as of June 30): U.S. rate ----------------------------------2,755 2,697 Canal Zone rate---------------------------8,391 8,154 Total Company employees-----------------11, 146 10, 851

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4 INTRODUCTION SUMMARY Panama Canal Company Operations Canal traffc.-Commercial transits and tolls reached an alltime high record in 1958. For the seventh consecutive year tolls paid on such vessels exceeded previous records. Total oceangoing transits in fiscal year 1958 advanced to 9,466, and tolls revenues from oceangoing ships to $42,768,015, gains of 7 percent and 8 percent, respectively, over the previous year. This record level of traffic was handled with a minimum of delay to shipping customers. The accomplishment is especially noteworthy in view of the fact that the periodic overhaul of the Pacific Locks, comprising two out of the three sets of locks, was performed during the fiscal year period. Cargo moving through the canal totaled 48,916,119 long tons, the second highest tonnage in the history of tie canal, and only 3 percent below the alltiie high established in 1957. Commercial traffic comprised 94 percent of the combined commercial/Government total in 1958. Oceangoing commercial transits of 9,187 exceeded by 7 percent the record of 8,579 established in 1957; commercial tolls collected amounted to $41,795,905, a gain of 8.7 percent, while commercial cargo totaled 48,124,809 long tons, 3 percent under the previous year. Of the total cargo transiting in commercial bottoms during the year, 23,580,878 long tons moved from the Atlantic to the Pacific, a decrease of 7 percent under the tonnage moving in that direction in 1957. The Pacific-to-Atlantic volume totaled 25,354,239 long tons, a gain of about 5 percent over 1957. The grand total of transits for the year by all classes and sizes of tolls-paying vessels was 10,553. During the month of March 1957, oceangoing traffic through the canal established a record high total of 840 transits, the highest month in the history of the canal, In October 1957, the second highest total, 836 transits, were recorded. Further records established in fiscal year 1958 included total tolls revenues of $42,834,006, while cargo movements totaling 48,934,829 long tons were the second highest in the canal's history. One of the significant features contributing to the increase of commercial traffic during the year was the abnormal rise in the number of vessels transiting in ballast. An appreciable increase was noted as early as the close of the first quarter, in the number of tankers, cargo vessels, and ore carriers transiting without cargo. The increase in ballast tonnage of tankers is due principally to the heavy movements of Venezuelan and West Indies mineral oils through the canal to the Pacific, with tankers returning empty. The newly built bulk carriers of large capacity have stimulated movements of oil and ores, and usually go one direction in ballast. Most of the ballast tonnage is normally attributable to general cargo vessels and consists of fruit ships returning empty to the banana ports of Central and South America; however, an increasing number of dry-cargo vessels moved through the canal with empty holds during the past year. This situation is indicative of reduced cargo movements, low charter rates, or a combination of both of these factors.

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PANAMA CANAL TOLLS FISCAL YEARS 1948-1958 U.S. GOVERNMENT 0 MILLIONS ) z COMMERCIAL $ 40 NOTE: NO ASSESSMENT AGAINST U.S. GOVERNMENT VESSELS PRIOR TO 1952, .. .30 20 10 1948 1949 1950 1951 I952 1953 1954 I955 1956 1957 1958 $OURCE: EXEQUTiv PLANNING STAFF I

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6 INTRODUCTION Financial review It is again a pleasure to report that the Panama Canal Company has finished another year without cost to the American taxpayer, thus completing 7 successive years of operation without loss since its reorganization on July 1, 1951. As to dollar volume of traffic, fiscal year 1958 was the best in the history of the Panama Canal. Gross tolls amounted to a record $42.8 million. Revenues exceeded expenses by $2.7 million for the year, after provision for (1) payments to the U.S. Government of $20 million covering interest, net cost of the Canal Zone Government, and annuity payments to the Republic of Panama; and (2) retroactive costs of approximately $1 million for various wage increases granted toward the close of the year or during the first quarter of fiscal year 1959. Expenses do not reflect depreciation charges against certain assets (historically classified as nondepreciable), such as the excavation of the canal channel and other similar items valued at $282.1 million. We are pleased to report that the Company's financial statements for fiscal year 1957 have been certified by the Comptroller General of the United States. This certification was made possible as a result of approval by the Director of the Bureau of the Budget of the valuation of certain assets included in the U.S. Government's net direct investment in the Company, final disposition of a major lawsuit involving toll rates, and the satisfactory results of an independent audit made by the General Accounting Office. Financial statements and comments appear in chapters 5 and 7, respectively.

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0/m/t'& I REVIEW OF CANAL TRAFFIC OCEANGOING TRAFFIC 1 Another significant story in Panama Canal traffic records became apparent as early as March 1953. At the close of the fiscal year the number of oceangoing transits, the net tonnage of vessels, and the receipts for tolls from vessels transiting the canal exceeded those in any preceding year in the history of the canal operations. This marked the seventh consecutive year that new records have been established for commercial traffic using the waterway. The number of commeicial ships transiting the canal averaged 25.2 per day, and for the first time such transits exceeded the 9,000 mark for a single year, recording a total of 9,187 transits for this fiscal period. A grand total of 9,466 oceangoing vessels made the passage during the year; of these, 9,187 were of strictly commercial types, and the other 279 were U.S. Government owned or controlled vessels. Flags of 36 nations were flown over the commercial ships transiting, for which the Panama Canal Company received $41,795,905 in tolls for services rendered; in addition, $972,109 was received in tolls credits from the U.S Government vessels. The $42,834,000 paid and credited in tolls during the year marked the first time in the history of the waterway that such income has exceeded the $40 million total. This is an increase of 8 percent above the previous year's figures. U.S. owned or controlled vessels that transited during the year were at their lowest level since 1940. This was the first year since 1940 that income from this classification of ships fell below $1 million. Commercial cargo tonnage passing through the canal failed by 1,577,391 long tons of equaling the record established during the previous year. However, the 48,125,000 long tons of commercial cargo transiting did establish the second highest tonnage in 'the history of the canal. The Pacific-to-Atlantic flow of cargo regained its first-place position and established a new record with 25,281,508 long tons of cargo. On the other hand, the Atlantic-to-Pacific movements of cargo were 10 percent below the volume that moved in this direction during the previous year. This decline is attributed to a sharp redlctioll in shipments to Japan which were down by some 2,240,000 long tons from the previous fiscal year. Scrap metal shipments to Japan were 965,000 long tons lower than in the previous year, accounting for a large part of this decline. The declining movement of cargo to Japan contributed significantly to the fact that the volume of U.S. exports that passed through the waterway was some 2,777,000 long tons short of the volume which transited the canal during the previous 12-month period. Some 17,867,000 long tons of cargo transition the canal this fiscal year originated in the United States, and import tonnage to the United Vessels .of 300 tons and over (Panama Canal measurement) for vessels ratvd on nut tonnage, or of 500 tons, displacement and over for vessels rated on displacement tonnage (naval vessels, dredges, etc.). 7

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OCEAN-GOING TRANSITS FISCAL YEARS 1948-1958 THOUSANDS OF TRANSITS 10 9 7 --6 5 4 3 2z 0 1948 1949 1950 1951 1952 1953 j954 1955 1956 1957 1958 SOURCE. EXECUTIVE PLANNING STAFF

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PANAMA CANAL COMPANY 9 States which passed through the canal during the year established a new high of some 18,690,000 long tons, a gain of 13 percent above the previous year. The increasing size of commercial ships using the Panama Canal is bringing increasingly larger tolls per transit. In fiscal year 1952, the average amount collected per transit was $4,127; during fiscal year 1958, this per transit average increased to $4,549. The growth in larger ships is probably best illustrated by the fact that since 1955 ships transiting the canal in a single year with beams of 86 feet or greater have increased from 13 such ships to a total of 109 for the year just concluded. Clear-cut transits have increased from 696 in 1955 to 1,087 in 1958, or 56 percent. This type of transit is of significant importance because of its effect on the capacity of the canal. The average oceangoing commercial vessel transiting was slightly larger than in previous years, averaging 5,221 Panama Canal net vessel tons in comparison with the 5,088 average in 1957. A tabulation of the four principal features of traffic for the fiscal years 1958, 1957, and 1956 is shown below: Fiscal year 1958 1957 1956 Number of oceangoing transits ----. 9,466 8, 848 8,475 Net tonnage (Panama Canal measurement) ---------------------49, 110, 351 45, 018, 760 42, 685, 742 Cargo (long tons of 2,240 pounds) --48, 916, 119 50, 624, 373 46, 269, 163 Tolls and tolls credits ------------$42, 768, 015 $39, 561, 595 $37, 369, 533 OTHER TRAFFIC In addition to the oceangoing vessels, 1,087 small craft of less than 300 net tons, Panama Canal measurement (or under 500 displacement tons on vessels assessed on displacement tonnage), transited the canal during fiscal year 1958. Transits of these small vessels have but slight effect on workloads and tolls revenue volume, and are generally excluded from analysis of canal operations. Also excluded from the preceding table are statistics on 55 vessels exempted from tolls charges, including vessels owned, operated, or chartered by the Government of the Republic of Panama, war vessels of the Republic of Colombia, and vessels transiting the canal solely for repairs at the Panama Canal shops. Further details on this traffic will be found in table 26, chapter V, page 109. COMMERCIAL TRAFFIC HIGHLIGHTS In October 1957, the Grace liner Santa Mercedes, made the 200,000th commercial transit of the waterway, less than 8 years after the SS Nevadan of the American Hawaiian Line became the 150,000th customer, April 26, 1951. It was on October 10, 1938, that the Steel Export, operated by the Isthmian Steamship Line, made the 100,000th transit of the canal. 495687-59 2

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10 REVIEW OF CANAL TRAFFIC PRINCIPAL TRADE ROUTES Approximately 79 percent of the commercial traffic served by the Panama Canal in fiscal year 1958 moved over eight main routes of trade. The table below shows the net vessel tonnage (Panama Canal measurement) moving over these routes in fiscal year 1958 and 1957, with the percentage change between the 2 years. Fiscal year 1958 1957 Percent in(In thousands of Panama crease or Trade route Canal net tons) (decrease) East coast United States/Canada and Asia -_.-_9, 282 9, 232 0. 5 East coast United States and west coast South America_-----------------------------------8,421 6,739 25.0 Europe and west coast United States/Canada-----5, 386 4, 685 15. 0 Europe and west coast South America ------------4, 566 4, 040 13. 0 United States intercoastal ----------------------3, 675 3,282 12.0 Europe and Oceania---------------------------3,014 3,698 (18.5) East coast United States and west coast Central America/Mexico-----------------------------1,815 1,383 31.2 West coast United States and east coast South Amrerica_-----------------------------------1 769 1, 140 55.2 All other ------------------------------------9,996 9, 429 6.0 Total---------.------------------------47,924 43,628 9.8 An increase of 9.8 percent is shown in the volume of net vessel tonnage transiting the canal this fiscal year over the previous year, with the highest volume change in shipments occurring again in the east coast United States and west coast of South America trade. All themajor routes ranking in position 1 to 8 maintained their status in the lineup of principal trade routes served by the canal. The east coast United States and west coast South America area, which retained its second position in importance among the routes, shows the highest percentage gains in both net tonnage and cargo movements. Some gains were reflected on each of the other trade routes with the exception of the route between Europe and Oceania, on which net tonnage declined by 684,000 net tons, or 18.5 percent. The greatest net tonnage gains recorded were in the tonnages between the east coast United States and west coast of South America, up 1,682,000 tons, or 25 percent, and between Europe and west coast United States/Canada, which increased by 701,000 tons, or 15 percent. A brief discussion of shipping engaged in these trade routes is given in the following paragraphs: East coast United States/Oanada-Asia.-Traffic in these two important areas retained first-place position for the seventh consecutive year among the various trade routes served by the canal. The volume of net tonnage used on this route, Panama Canal measurement, established a new high, however, the volume of cargo moving between the two areas was 18 percent below the previous year, yet accounted for some 42 percent of all the Pacific-bound cargo. Again, Pacific-bound traffic accounted for the majority of the net tonnage, forming 67 percent of a total of 9,282,000 net tons. Substantial losses were sustained in cargo shipments in the east-to-west movement, principally in rice, ammonium compounds, iron and steel manufactures, scrap and various other methls, and phosphates. The decrease in scrap iron shipments alone accounted for some 980,000 long tons. On the other hand, noticeable increases in this direction were made in exports of corn, up

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-n t ~~ N fl"! t ecds akn 0,0t o mrca rni fCnl

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The "Vanda," of Honduran Registry, Completed 50 Transits During Fiscal Year 1958.

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PANAMA CANAL COMPANY 11 190,000 long tons, soybeans increased by 121,000 long tons, with wheat beginning a substantial movement for the first time since 1955. In the other movement, west to east, a decrease of some 282,000 long tons was experienced under the 1957 period, with losses in shipments of chrome ore and sugar predominating and accounting for 232,000 tons, or 82 percent of the total tonnage lost. East coast United States-west coast South America.-For the seventh consecutive year this trade route continued its spectacular rise in all phases of shipping, and held its second-ranking position in importance to the Panama Canal. The net tonnage moving over this route increased by a significant rise of 1,682,000 net vessel tons, a 25-percent increase over the volume moving during the preceding year. This is the most impressive gain among the various trade routes. It is over this lane that the large quantitites of essential raw materials such as the various ores flow to the industrial areas of the United States. Usually, the volume of net tonnage totals approximately the same in each direction, but during this fiscal year west-to-east movements exceeded east-to-west by 590,000 tons. Eighty-four percent of the cargo tonnage moved west to east during this fiscal year, an increase of 24 percent, despite the existing business recession in progress in the United States. Shipments of iron ore, up by 1,313,000 long tons from the previous year, showed the most significant commodity increase, amounting to 33 percent. Slight increases over last fiscal year were noted in shipments of bananas, coffee, and sugar. Europe and west coast United States/Canada.-This major route continued to rank third in importance for the seventh consecutive year, accounting for a total of 5,386,000 net vessel tons and showing a gain of 15 percent over last fiscal year. Movements of cargo in this trade are predominantly eastbound and this year's movement in that direction formed 85 percent of the total cargo exchanged by the two regions. Total cargo moving in the trade, amounting to 6,015,000 long tons, stowed a slight gain of less than 1 percent. Two commodity groupslumber and barley-made up 31 percent of the 5,126,000 long tons of cargo shipped eastward, showing gains of 41 percent and 56 percent, respectively, over such shipments last year. Wheat, for years one of the most important commodities shipped in appreciable quantities in the trade, sustained a decided decrease of 552,000 long tons this period, or 23 percent under last year's total of 2,394,000 long tons, Europe and west coast of South America.-Net vessel tonnage in this route, the fourth-ranking one, was up by slightly more than 500,000 net tons. This is a gain of 13 percent over the preceding fiscal year, when a 10-percent increase was registered in the net tonnage utilized over the route. Coupled with this continued gain in net tonnage volume, of course, is the phenomenal increase in vessels being employed to transport the increasing volume of goods exchanged between the two areas. Although the volume of goods exchanged between the areas this fiscal year continued to rise, a total of 3,694,000 long tons being recorded in comparison with 3,590,000 tons last year, the 1958 period shows the slightest increase in tons of cargo since 1954 when only 2,025,000 tons was exchanged in the trade. As in past years, the movement of cargo was predominantly west to east which this year accounted for 79 percent of the total cargo moved over the route.

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12 REVIEW OF CANAL TRAFFIC Despite the business recession in progress, which is being felt especially in world commerce, raw materials obtained from the west coast of South America for European industries continued to show increases. Again, as in fiscal year 1956, a very slight decrease in cargo shipments is recorded in the east to west direction, down by 2 percent over 1957 figures. The most important percentage increase in commodity shipments over the route occurred in bananas, up by 73,000 long tons, or an increase of 37 percent. Shipments of nitrate of soda ranked second in importance of increases with 502,000 long tons, or a rise of 35 percent in comparison with 373,000 long tons in 1957. Iron ore moving from western South America to European ports again showed a slight gain over last year, utilizing 1,064,000 long tons to compare with the 1,009,000 tons in 1957. Western Germany continued to be the principal recipient of eastward-bound cargo, receiving 964,070 long tons, a gain of 35 percent over last year. The Netherlands ranked in second place, receiving 650,974 long tons, while Great Britain was third with 438,773 tons. Belgium and Germany were again the principal suppliers of westwardbound cargo, with Belgium exporting some 205,000 long tons and Germany 185,000 tons. A 69-percent increase in the number of vessels operating in these trade areas is shown within the past 5 fiscal years. From a total of 562 in 1954 to a total of 949 in 1958, there was a total of 387 ships added in the trade with the largest single addition of 114 craft occurring in fiscal year 1958. This is an increase of 39 percent in vessels over the fiscal year 1957. United States intercoastal.-Retaining its position of fifth place in importance in canal commerce is the trade between the Atlantic and Pacific coasts of the United States. During the period of 1958 overall increases were experienced in all phases of shipping over this route which recorded more vessels plying in the trade, more net vessel tons and cargo tonnage, as well as more tolls collected than was the case in fiscal year 1957. Net vessel tonnage in fiscal year 1958 totaled 3,675,000 tons, an increase of 393,000 tons over last year. The unusually heavy volume of residual oils moving from California during the last quarter of the fiscal year was primarily responsible for the increase, a total of 470,000 net tons moving in 50 tankers during the 3-month period. Total net vessel tonnage in the tanker class in this route amounted to 980,808 tons, up 64 percent over the total of 597,982 tons last year. The remaining net tonnage of 2,694,000 tons consisted of dry cargo type vessels. Despite the heavy increase in oil shipments of some 279,000 long tons, and a substantial increase of 174,000 tons of unclassified chemicals during the period, only a slight overall gain of 90,000 tons was recorded in cargo movements. Such gains in oils and chemicals were offset by heavy losses in shipments of iron and steel products, a predominant east-to-west trade, down 29 percent from the 1957 fiscal period. Lumber, moving in the opposite direction, contributed a decrease of 97,000 long tons in cargo, a decline of 7 percent from the period last year.

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TRAFFIC MOVING OVER PRINCIPAL TRADE ROUTES FISCAL YEARS 1958 AND 1957 C THOUSANDS OF LONG TONS OF CARGO 0 2 3 4 5 6 7 8 9 10 11 12 13 3. r EAST COAST UNITED 1958 0 STATES / CANADA ASIA 1957 z UNITED STATES 1958 INTERCOASTAL 1957 EAST COAST U.S 1958 WEST COAST SOUTH AMERICA 1957 EUROPE-WEST COAST 1958 US /CANADA 1957 EUROPE-WEST COAST 1958 SOUTH AMERICA 1957 EUROPE -AUSTRALASIA 1958 ATLANTIC TO PACIFIC 1957 PACIFIC TO ATLANTIC EAST COAST SOUTH 1958 AMERICA-WEST COAST U. S. /CANADA 1957 WEST INDIES -WEST 958 COAST SOUTH AMERICA 1957 1958 4LL OTHER SOURCE. EXECUTIVE PLANNING STAFF

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14 REVIEW OF CANAL TRAFFIC Europe and Oceania.-Reflecting a trend to return to a somewhat more normal status, consistent with commerce prior to the closure of the Suez Canal, this route is the only one out of the eight major trade routes showing an overall decrease. Statisticalwise, 95 fewer vessels, 684,000 fewer net vessel tons, 757,000 fewer long tons of cargo, and $609,289 less in tolls were derived from these areas during fiscal year 1958 in comparison with the 1957 period. Sustained losses of 20 percent occurred in ships using the route, some 19 percent occurred in net vessel tons, and a 26 percent reduction was felt in total cargo moving over the lane. Principally a west-to-east movement, this route saw a decline of 760,000 long tons of cargo from the 1957 period, down 39 percent, while a very minute gain in tonnage was shown in the opposite direction for the period. The cargo losses occurred among the most usual connodities shipped to European ports, consisting of copra, dairy and meat refrigerated products, phosphates, sugar, and wool. East coast United States and west coast Central America/Mexico.Traffic routed between these two areas in fiscal year 1958 recorded a percentage increase of 31 percent in volume of net vessel tonnage. This was the second highest percentage gain in net tonnage during the fiscal period. Holding its position as seventh ranking in importance, the trade accounted for 1,815,000 net vessel tons, or a gain of 432,000 tons over the 1,383,000 tons recorded in this trade in 1957. Net vessel and cargo tonnages represented in this route, as in past years, consist mainly of bananas from Costa Rica and Panama to the eastern seaboard. The volume of cargo tonnage in the west-to-east movement alone accounted for 73 percent of the total cargo tonnage gain made during the fiscal year and can be attributed almost solely to the recovery made in the banana trade. Recovering from a disastrous year in 1957, this commodity reached the high peak of 337,000 long tons exported, the highest tonnage attained since fiscal year 1953 when 350,000 long tons were recorded. Manganese ore, the only other commodity shipped in appreciable quantities in the movement, was down slightly but accounted for 102,000 long tons out of the total of 495,000 tons of cargo. West coast United States and east coast South Am erica.-A newcomer to the list of important trade routes of the Panama Canal j ust 2 years ago, this route topped all others in gains in net vessel tonnage among the eight major routes. An increased net tonnage of 629,000 was experienced, registering the year-high increase of 55 percent over fiscal year 1957. Increased oil tanker movements alone accounted for 238,000 net vessel tons of this total gain with an increase of 22 tankers plying in the trade. Shipments of crude oil from Venezuela to the west coast of the United States increased from 1,235,000 long tons in 1957 to a high peak of 1,614;000 long tons in 1958, a rise of 31 percent. Of the 1,949,000 long tons of cargo passing over the route in 1958, 88 percent was recorded in the east-to-west movement. NATIONALITY OF VESSELS Vessels of 36 nationalities comprised the oceangoing commercial traffic in fiscal year 1958, 2 less than in the previous year. Transits of U.S. registry, numbering 2,023, with an aggregate net vessel tonnage, Panama Canal measurement, of 11,672,797 tons ranked

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NATIONALITY OF TRANSITING VESSELS z FISCAL YEARS 1958 AND 1957 HUNDREDS OF TRANSITS TOLLS PAID -MILLIONS OF DOLLARS 22 20 18 16 14 12 10 8 6 4 2 0 0 2 4 6 8 10 2 UNITED STATES BRITISH z LIBERIAN NORWEGIAN JAPANESE GERMAN PANAMANIAN DANISH FY 1958 FY 195T COLOMBIAN HONDURAN ALL OTHERS SOURCE: EXECUTIVE PLANNING STAFF I-CI

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16 REVIEW OF CANAL TRAFFIC first among the nations participating in canal traffic, as they have in almost every year since the opening of the canal in 1914. Traffic of British registry, contributing 1,203 transits registering 7,454,501 net vessel tons, has traditionally ranked second in canal traffic and this position was retained in fiscal year 1958. Some 2,378 different commercial vessels made 9,187 transits for an average of 3.82 transits per vessel. The number of transits made by such vessels varied from 1 to 50. The greatest number of transits made this year by a single vessel was accomplished by the Honduranregistered Vanda, with 50 trips through the channel, transporting bananas from Ecuadoran ports to Florida. During this year, not only an increase of 104 American-flag transit was recorded over last year's total of 1,919 but an increase of 657,825 net vessel tons, is noted, which accounted for an increase of $549,022 in tolls collected from U.S.-registered vessels. Vessels under U.S. registry paid 24.6 percent of the total tolls collected and accounted for 22 percent of the total transits made. On the other hand, a loss of 106 British-registered transits was sustained this fiscal year, with a resultant loss in Panama Canal net tonnage of 673,068 tons, and $641,696 in tolls revenues from British vessels. However, Britishflag transits continued to hold second place in importance, paying 16 percent of the tolls collected while making 13 percent of the total transits. Next in importance, and replacing Norway as a tollspaying customer, is Liberia who accounted for 11 percent of the total tolls with 9.8 percent of the total transits. Of the 10 top-ranking nationalities contributing 85 percent of the transits, 89.3 percent of the Panama Canal net tonnage, and 89.4 percent of the tolls, the United States led with 24.4 percent of the total net tonnage; British, 15.6 percent; Liberian, 11.8 percent; Norwegian, 10.1 percent; Japanese, 8.2 percent; German, 7.0 percent; Panamanian, 4.2 percent; Danish, 3.4 percent; Italian, 2.4 percent; and the Netherlands, 2.2 percent. The most striking increase from the previous year, as measured by net vessel tonnage, was made in traffic of vessels flying the Liberian flag. Vessels flying the flag of this nation have steadily climbed from sixth place in importance tonnagewise during the past 4 years, increasing from 1,040,175 net vessel tons in 1954 to 5,633,036 tons in 1958, a gain of 442 percent. CARGO STATISTICS Although the combined movement of cargo in both directions this fiscal year fell short of last year's record by 1,577,391 long tons, or a decrease of 3.2 percent, a second-place alltime high record was set with a total of 48,124,809 long tons of cargo. A substantial gain of 1,009,151 long tons was shown in the Pacificto-Atlantic flow of cargo over the record established last fiscal year. As a result of this gain, movements in this direction again returned to the leading position, a place it bad held each year since the opening of the waterway until 1957 when it was replaced by the Atlantic-toPacific movement. The 25,281,508 long tons of cargo moving in the Pacific-to-Atlantic area this fiscal year established a new record by slightly more than 1 million tons over the 24,272,357 tons moving in

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PANAMA CANAL COMPANY 17 that direction last fiscal year. The Atlantic-to-Pacific movement returned to second-place position by sustaining a loss of 2,586,542 long tons this year, down 10.17 percent from the record high figure of 25,429,843 tons in 1957. Of the 12 commodity groups which have consistently accounted for approximately 75 percent of the volume of cargo passing through the canal, 6 showed increases and the remaining 6 registered declines this period. The six groups registering declines were: other ores and metals, manufactures of iron and steel, wheat, sugar, canned and refrigerated food products, and phosphates. Average Tonnage, Tolls, and Tons of Cargo per Transiting Vessel The average measurement of tonnage, tolls, and tons of cargo per oceangoing commercial vessel during fiscal years 1958 and 1957 are shown in the following tabulations: Fical year Average per vessel 1958 1957 Panama Canal net measured tonnage_--------------------5,217 5,095 Tolls----------------------------------------------$4, 549 $4, 481 Tolls per Panama Canal net ton.---.---------------------$0. 871 $0. 879 Tons of cargo per laden transit--------------------------6,378 6,779 Tolls per ton of cargo (laden only)----------------------$0. 753 $0. 700 DATA IN STATISTICAL CHAPTER Further particulars of traffic through the canal are presented in chapter V of this report in the form of tables and charts.

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eka/Ar II THE WATERWAY The efficient and dependable operation of the Panama Canal is of vital concern not only to maritime interests throughout the world but also to a host of others whose livelihood and general welfare are dependent to some degree upon an even flow of world commerce. The process of getting the ships through the canal and the performance of certain auxiliary or supporting functions are grouped under the classification of "The Waterway," for purposes of this report, and are the primary missions of the Marine Bureau and the Engineering and Construction Bureau. These two Bureaus must provide for the transiting of ships, operation of the locks, maintenance of the canal channel, meteorology and bydrographic work, and ferry service across the canal at Balboa. TRANSITING OF SHIPS Traffic control The dispatch of ships into the canal and their movement through the waterway are closely controlled by the Navigation Division of the Marine Bureau. Dispatches are regulated from each terminal so that all ships that arrive each 24-hour period normally clear the waterway prior to closing time. The following is a summary of the typical operating program in effect at the end of the fiscal year: From Cristobal Harbor, the Atlantic entrance, the first ship begins its southbound transit at 6 a.m., the last at about 4 p.m. From Balboa anchorage, Pacific entrance, the first ship starts northbound at 5:30 a.m., the last at 3:30 p.m. Certain vessels such as tankers, ore carriers, and those carrying hazardous cargoes are selectively dispatched so that they'will not meet or pass any other vessel in Gaillard Cut and are not normally permitted to proceed unless they can clear the cut and the locks during the daylight hours. Such ships are called "daylight clearcuts." Since 1951 there has been a significant trend developing in the number of clear-cut and daylight clear-cut transits. Of most importance, because it affects the capacity of the canal, are the increases in large size vessels. From 1955 through fiscal year 1958, vessels of 79foot beam and above have increased by over 500 percent. The number of vessels of this size-transiting in 1958 exceeded the number handled during 1957 by more than 25 percent. Harbor work Five tugs were in service throughout the year-three at the Atlantic terminal and two at the Pacific terminus. The tugs operated a total of 12,784 revenue-hours in the servicing and assisting of ships, in comparison with the 12,803 revenue-hours in fiscal year 1957. 18

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PANAMA CANAL COMPANY 19 Towing and salvage The Company's salvage tug, U.S. Taboga, was engaged in four offshore jobs of salvaging and towing for private interests during the fiscal year 1958 and was used for servicing outlying aids to navigation off the Pacific coast of Panama and in the Caribbean. Accidents to shipping During fiscal year 1958 the Board of Local Inspectors was called upon to investigate 32 marine accidents in Canal Zone waters and to fix the blame and responsibility for same. Of these 32 accidents, 19 occurred during transit, the balance occurred in the terminal ports. This compares with 20 investigations in the previous fiscal year. The Panama Canal Company was found responsible for damages incurred in 17 accidents, with joint responsibility fixed in 3. A reserve in the amount of $459,555 has been set up to cover claims which might arise as a result of the Company's liability. This compares with five accidents of Company responsibility and a reserve of $22,000 in 1957. The remaining 15 accidents were determined to have been caused by fault of the vessel or other causes for which the Company assumed no responsibility. The most serious, marine accident which occurred during the year was the collision on October 10, 1957, in San Pablo Reach between the MS Rangitane southbound, and the SS Hawaiian Tourist, northbound. Responsibility for the accident was placed on the Panama Canal Company. Estimated liability of the Company for damage to both vessels was $250,000. There were 558 transits per accident during 1958 as compared to 534 in 1957, and 262 in 1956. Admeasurement and boarding party operations A total of 602 new oceangoing-type vessels were measured and, in addition, 206 ships with structural changes were remeasured. This compares with 514 new ships, 235 with structural changes in the previous year. The function of the boarding party consists of all phases of routine boarding, which includes admeasurement of vessels for tolls assessment; inspection to insure compliance with customs, immigration, quarantine, and navigation regulations; and the performance of Deputy Shipping Commissioner duties for seamen aboard the U.S.flag vessels. There were 10,750 ships boarded and inspected during the year as compared with 9,392 in 1957 and 8,523 in fiscal year 1956, respectively. Aids to navigation On October 6, 1957, the former Aids to Navigation Section of the Marine Bureau was transferred to and became a unit of the Dredging Division, Engineering and Construction Bureau. The complete integration of the two units was effected by October 31, 1957. Consolidation of these activities will result in a net reduction of operating expenses in the amount of $143,200 in fiscal year 1959. As of June 30, 1958, there were 870 navigational aids maintained by the Dredging Division in the canal proper and the approaches thereto, the terminal harbors, and the adjacent coastal areas. Classified according to the character of the illuminant used, these were as

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20 THE WATERWAY' follows: acetylene gas operated, 123; electrically operated, 370; and unlighted, 377. Outlying navigational aids were visited for the purpose of inspection and servicing, and all aids ;vere maintained in good operating condition throughout the year. Signal stations Effective December 1, 1957, the U.S. Navy transferred the Flamenco, Island Signal Station, located in the outer Pacific harbor waters, to the Panama Canal Company for operation and maintenance. Curtailment of funds and personnel in the Department of the Navy madenecessary this change in organizational management. LOCKS OPERATION In traversing the lock-type canal, ships are raised in three steps to a fresh-water lake 85 feet above sea level. The Locks Division of' the Marine Bureau is primarily concerned with the operation and maintenance of the three sets of locks, their related installations and facilities, including the periodic overhaul of underwater parts. Gatun Locks near the Atlantic entrance to the Canal forms onecontinuous flight of three steps which raise and lower the ships 85 feet above sea level. The three flights at the Pacific entrance are divided between Pedro Miguel Locks with one flight and Miraflores Locks with two flights. Each of the twin chambers in each flight of locks has a length of 1,000 feet, a width of 110 feet, and a depth of 70 feet. Since the flights are in duplicate, ships may pass in opposite directions simultaneously. The duration of a lockage depends on many factors, including thesize of the ship, its handling characteristics, and whether the vessel is locked separately or in tandem. This latter procedure is used to save overall time and water. The normal lockage intervals are 40, 60, and 80 minutes at Pedro Miguel, Miraflores, and Gatun Locks, respectively. The number of large vessels passing through the locks in fiscal year 1958 was greater than ever before. Ten-locomotive lockages increased. by 13.5 percent over the previous year; eight-locomotive lockages increased 6.1 percent. Total lockages showed an increase of approx-imately 6 percent over the previous fiscal year. Lockages-vessels handled The number of lockages and vessels handled (including Panama Canal equipment) is shown in the following tables for thefiscal years 1958 and 1957: Fiscal year Gatun Locks: 1958 1957 Number of lockages --------------------------------8,548 8, 053 Number of ships.---------------------------------10,882 10,348. Pedro Miguel Locks: Number of lockages -------------------------------8,815 8,260 Number of ships-------.--------------------------11,713 11, 198Miraflores Locks: Number of lockages.-------------------------------8,655 8,244 Number of ships---------------------------------11,358 11,105

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tS lvw kknk Tanker SS "Gulf king" in Transit at Pedro Miguel Locks.

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Repairing Culvert Failure in East Chamber, Pedro Miguel Locks.

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:PANAMA CANAL COMPANY 21 Locks overhaul The 5-year overhaul of the Pacific locks was accomplished, except for rising stein valves in the Pedro Miguel center wall, which will be completed in July 1958. Preparatory work was begun early in fiscalyear 1958, and overhaul work proper began at Miraflores on January 4, 1958, and remained in progress during the balance of the fiscal year. All underwater parts were inspected, repaired, cleaned, and painted as required. Ten miter gate leaves were unhinged for replacement of bearings and bearing plates. Eighteen old rising stem valves at Miraflores were replaced with new valves. Work in the Miraflores center culvert was done with both chambers in service and the culvert isolated by use of lateral culvert plugs. On June 7, the unwatered east chamber of the Pedro Miguel Locks revealed a failure of one of the culverts and the adjacent floor areas on either side amounting to a total of about 1,000 square yards of concrete. It was determined that the upheaval of the concrete had occurred during the first filling of the chamber following the overhaul. Cleanup and repair work was completed on June 24, and consisted of repouring the top half of the lateral culvert that was ruptured; repairing and sealing leaks in several other lateral culverts which showed signs of weakness; and the pouring of about 1,000 square yards of new floor slab. WATER SUPPLY The supply of water necessary for the operation of the Panama Canal in transiting of ships, the generation of electric power, and for municipal use is derived from several tributary streams that flow into Madden and Gatun Lakes which serve as storage and flood control reservoirs of a drainage basin comprising 1,289 square miles. All inflow from Madden Lake, whether drawn for hydroelectric power or spilled for lake control, flows into Gatun Lake and together with the runoff from the area below Madden Dam is used for lockages, power generation, and municipal purposes, or may be spilled to control the operating level of Gatun Lake. Total runoff from Gatun and Madden Lake drainage basin for the 'fiscal year 1958 was 19 percent below normal and amounted to 3,870,552 acre-feet. Of this total, 41 percent was derived from the basin above Madden Dam. Runoff for the period, January-April, from the Gatun Lake Basin amounted to 616,621 acre-feet, which was 31 percent above the 45-year average. From the area above Madden Dam, which constitutes the greatest source of hydroelectric power, the total runoff amounted to 354,775 acre-feet, which was 28 percent above the 45year average for that area. After deduction of evaporation losses from both lakes of 488,129 acre-feet, the remaining net yield or runoff amounted to 3,382,323, which was combined with 313,934 acre-feet from lake storage and used to furnish 1,462,925 acre-feet for Gatun Lake lockages (using 169 acre-feet per lockage of which there was an average of 23.8 per day). Out of this net yield also, 1,459,344 acre-feet were used to generate 84,025,200 kilowatt-bours at Gatun hydroelectric plant. In addition, leakage and miscellaneous losses of 19,651 acre-feet were

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22 THE WATERWAY sustained during the period and of the remaining net yield municipal requirements took 35,652 acre-feet, gain in storage of 313,934 acrefeet, and the spilling of 90,817 acre-feet at Gatun spillway for lake regulation during the rainy season. Madden hydroelectric plant used 1,166,528 acre-feet to generate 125,249,100 kilowatt-hours of electricity. For further details on water supply and expenditures, see table 27, chapter V, page 110. MAINTENANCE OF CANAL CHANNEL The Dredging Division is charged with the maintenance of the canal channels from the Pacific entrance at Balboa to the Cristobal breakwater in the Atlantic. This division is also responsible for the operation and maintenance of all other navigable channels, harbors, and anchorages; the extermination of impedimnental plants in the canal and its tributaries; and the maintenance of the Atlantic breakwater. This maintenance of the canal channel, its terminal harbors, the adjacent navigable waterways of the Panama Canal, and special improvement projects was accomplished during the year with a 28inch suction dredge, a 13%-cubic-yard dipper dredge, and a 10-inch suction dredge which was placed in operation in November 1957 to be used in drainage correction work in the Telfers Island area, in lieu of higher cost excavation by land machines. Dredging operations are divided into three major areas; the Atlantic, a Central, and a Pacific district. The canal channel is maintained at the following predetermined controlling depths: For the Atlantic district, from deep water in the Atlantic to Gatun Locks, is 42 feet below mean low water; that for the Central district, from Gatun Looks to Pedro Miguel Locks, 42 feet below minimum lake level of 82 feet; and that for the Pacific district, from Pedro Miguel Locks to Miraflores Locks, 42 feet below Miraflores Lake elevation of 53 feet; from Miraflores Locks to deep water in the Pacific, 42.4 feet below mean low water springs. A total of 5,156,700 cubic yards of earth and rock was removed from the harbors and waterways in 1958, an increase of 2.9 percent over the 5,010,600 cubic yards in the previous fiscal year. Slide incidence in Gaillard Cut was again below normal, with only 42,300 cubic yards of material being removed, bringing the total material removal since June 30, 1913, to 52,929,550 cubic yards. The Culebra Slide West continues to be the most active, and numerous small bank breaks occurred but with movements of minor consequence. A summarv of dredging operations for the fiscal year 1958 will be found in table 28, chapter V, page 110. REPLACEMENT OF LOCKS TOWING LOCOMOTIVES In January 1958 tie two test locomotives which bad arrived in December 1957, and which were placed on the north center wall of Gatun Locks, were demonstrated to the Board of Directors of the Company and to the Governor of the Canal Zone. The machines proved to be nonoperative and were not acceptable. Further tests were suspended pending corrective measures to bring them up to measurable -standards of the specifications. Corrective work was

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S ti Suction Dredge "Mandinga" Placed in Operation November 1957.

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Architectural Rendering of Bridge to Span Canal Channel at Pacific Entrance.

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PANAMA CANAL COMPANY 23 begun in May. Preliminary tests were again performed in June and indicated that the major repairs were satisfactory although the machines had not yet been.able todemonstrate-their ability to handle ships. A project operating schedule, prepared on the basis that no major difficulty or serious delaying accident will occur, was scheduled to begin on July 1, 1958. The towing devices are to be tested through transits with two barges lashed together, small vessels, and oceangoing ships. CANAL IMPROVEMENT PROGRAM The canal improvement, short range program, developed in 1957 was approved during 1958 for accomplishment. At year's end, dry excavation had been completed and blasting was in progress on the widening of Bend 1868 (Paraiso Curve). A contract was in progress for lighting of the locks and Gaillard Cut on an experimental basis only; preliminary geological data was being obtained with preparation of plans and specifications under way on widening the Paraiso-Cucaracha Reach; and the projects of widening Bond 1660 and the Paraiso Mooring Station have been deferred until 1961. In the Canal Improvement, Long-Range, Special Studies Program, general engineering studies, editorship and coordination of a report are nearing completion under the direction of the Vice President who is Chairman of the Working Committee for the Ad Hoc Committee. It includes updating and revision of 1947 cost estimates for Third Lock and Sea Level canals, a study of the vulnerability of various types of canals in this location, and an analysis of new construction methods and equipment as related tb new, canal plants. MARINE TRAFFIC CONTROL During the fiscal year the Panama Canal Company contracted with an engineering firm for a study of the present methods and equipment for marine traffic control in the Panama Canal and for recommendations for improvements of a marine traffic control system. A preliminary oral report was presented to Company representatives and the final report was scheduled for submission to the Company early in fiscal year 1959. This report recommended the installation of an extensive electronic marine traffic control system. The proposed system would be an integrated, or coordinated method of continuously providing and utilizing more complete, accurate, and up-tothe-moment information for scheduling and controlling the movement of vessels in the canal. CLOSING OF GAS MANUFACTURING FACILITY For the past several years the possibility of closing the Industrial Division's gas manufacturing facility has been considered. At the close of the fiscal period a plan had been approved for its closing, and negotiations for a contract with a firm in the Republic of Panama to furnish oxygen, hydrogen, and acetylene were underway. It was decided that the Storehouse Branch will handle the transportation of the gas cylinders to and from the plant in Panama and will have the. responsibility for storing, issuing, and receiving cylinders

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24 THE WATERWAY and the maintenance and repair of cylinders. No sales will be made to any military or commercial unit in the Canal Zone. The Industrial Division gas plant will be converted to 60-cycle and mothballed. The plant will be reactivated should the local source of subject gases fail at any time in the future to meet contractual obligations for supply of the gases to the Company. (On July 9,1958, a contract was signed between the Panama Canal Company and the Panamanian supplier, to become effective August 1, 1958.) The new cost of the three gases to the consuming agency will be approximately the same as presently charged by the Industrial Division. Savings will accrue through the following items: Plant additions and replacements, rising rate of U.S. rate salaries coupled with effects of the single wage plan in the Canal Zone, community services to Panama Canal Company employees; and the intangible cost of maintaining an extremely hazardous gas manufacturing facility in a heavily populated industrial area and in the vicinity of a heavily populated residential area. FERRY SERVICE The Thatcher Ferry service operates across the canal near the Pacific entrance of the canal. It is operated as a public service and no charge is made for its use. Service is maintained by retaining three diesel ferryboats on a daily schedule, with two ferries being in simultaneous service. A third ferryboat is kept in reserve to relieve the two regular ferries during periods of overhaul and to carry tourists and special parties in the canal as required. Statistical data on the ferry service for the past 2 fiscal years are given below: Fiscal year 1958 1957 Single trips made--------------------------------22, 945 27, 144 Total vehicles carried ----------------------------512, 878 606, 648 Total passengers carried--------------------------3, 663, 587 4,281, 474 During the year some 7,716 tourists, special parties, and 3,56S schoolchildren were passengers on ferry trips through Gaillard Cut, partial canal transits, and excursions on Gatun Lake.

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Ap.f~ I II SUPPORTING OPERATIONS It is doubtful if there is any other Federal organization in the world that embraces the variety of distinct, but closely interrelated activities that are found in the Canal Zone. In support of the maintenance and operation of the waterway and incident to the civil government of the Canal Zone, the Company conducts many auxiliary operations that are essential to the accomplishment of its basic mission. These include rail, ocean, and highway transportation; public-utilitytype services; the operation of retail stores and housing for employees; and a wide variety of engineering, supply, and service functions. These services are also made available to other Federal agencies in the Canal Zone and, to a limited extent, to the Republic of Panama. EMPLOYEE SERVICES Supply and Community Service Bureau Under the program of regrouping facilities, the integration of the Service Center, Commissary, and Storehouse Divisions was formally effected July 1, 1957. The Supply Division has two branches-the Storehouse Branch and the Sales and Service Branch, which comprises all activities formerly operated by the Commissary and Service Center Divisions. Its principal objectives and responsibilities consist of: procurement of supplies and materials, storage and sales thereof; scrap processing; and operation of theaters, restaurants, and bowling alleys. The Community Services Division has the responsibility of housing management and attendant operations; care of public buildings and grounds; operations pertaining to collection of garbage and trash; street-cleaning facilities and cemetery maintenance. In addition, in November 1957, the responsibility for direction of the Procurement Division was transferred from the New York Office to the Director of this Bureau. SUPPLY DIVISION Sales and Service Branch Service center operations The service centers provide certain essential sales and recreational facilities for the employees of the Company/Government organization, their dependents and guests, as well as others authorized or entitled to receive Canal Zone privileges. These facilities include cafeterias, soda fountains, guest accommodations; recreational activities such as theaters, bowling alleys, and merchandise sections. In addition, rental space is conveniently furnished for the use of the various licensee shops, which include barber, beauty, shoe, tailor, and dressmaking establishments, public libraries, and union organizations. 25 495687-59-3

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26 SUPPORTING OPERATIONS Implementation of the 1955 treaty commitments and deactivation of two communities resulted in the closing of several retail units and the initiation of several new ones. Revenues increased slightly, a total of $23,285 in gross income being shown over the 1957 fiscal figure. Retail stores, warehousing, manufacturing, and allied operations The retail stores, warehouses, manufacturing plants, and related operations provide food supplies, clothing, general household, and other essentials to U.S.-citizen employees and their families in the Canal Zone and in the Republic of Panama, to noncitizen employees residing in the Canal Zone, and the members of the Armed Forces. In addition to retail stores in the Canal Zone, the operation of gasoline service stations, warehouse facilities, a bakery, coffee-roasting facilities a dairy, and a laundry were maintained throughout the year. Retail stores and related operations During fiscal year 1958, an intensified program of realignment of operations consistent with the policy of offering merchandise and services at the lowest possible prices to support good business practices was continued. Loss in retail store sales as a result of implementation of treaty commitments was slightly less than anticipated and inventories were increased beyond originally planned levels. A drop of 22 percent from the previous year was sustained in retail sales, services, and issues. Revenues for fiscal year 1958 were some $4,920,138 under fiscal year 1957 volume. Storehouse Branch The organizational units of this branch include administrative, stock management, warehousing, scrap, and salvage operations; excess disposal; and office furniture and equipment pools. During the year excess stocks held in this branch of the division were brought down from a value of $700,712 to $57,673. A continued program of regrouping facilities and rewarehousing stocks so as to promote efficiency in the warehousing activity and to reduce operating and depreciation expenses to a minimum was vigorously pursued throughout the fiscal period. Scrap operations were curtailed this fiscal year due to the business recession in the United States which caused a drop in the market price of scrap. Improved scrap-processing operations were initiated that resulted in an appreciable decrease in operating costs. Methods of operation in office equipment and furniture pools were studied throughout the fiscal period, resulting in improvements in several areas. Unserviceable pool items retired reached a total of 767 in comparison with 1,061 in 1957; acquisitions of new equipment for the fiscal year period totaled 906 in comparison with 352 for fiscal year 1957. PROCUREMENT DIVISION This division, comprised of three commodity branches and one administrative branch, is charged with the responsibility of providing procurement services to the Supply and Community Service Bureau. The division is also responsible for the forwarding, expediting, and correlating of shipments to the isthmus in compliance within required

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PANAMA CANAL COMPANY delivery dates. Food items, supplies, materials, and equipment are purchased for use of the Company in the Canal Zone, in its New York operations, or for resale to its employees. This division continued its liaison service between the Engineering and Construction Bureau and States contractors on all open contracts. During the fiscal year 1958, the division made 22,752 awards for purchases valued at $14,183,125, in comparison with 20,003 awardsfor purchases valued at $14,771,658 in fiscal year period 1957. Although the dollar value of the purchasing workload decreased in 1958, line items handled and vendors solicited increased by 10 percent and 19 percent, respectively, as a result of expansion of merchandise lines and the purchasing of smaller quantities more frequently in order to hold inventories as low as possible. By taking advantage of the various economic opportunities offered in procurement of goods throughout the year, a total of $149,296 in savings was effected by the division. COMMUNITY SERVICES DIVISION Housing Branch The Panama Canal Company operates living quarters for all U.S.citizen employees and, to a limited extent, for non-U.S.-citizen employees. No new housing construction was begun during the year. However, effective January 14, 1958, sixty-nine 4-family apartment buildings, comprising 124 3-bedroom apartments and 152 2-bedroom apartments, and four 1-family buildings located in the Coco Solo area were added as U.S.-citizen housing when the Department of the Navy released them to the Company. The demolition program was accelerated during the year to accomplish the evacuation of a total of 16 U.S.citizen quarters buildings and apartments, and a total of 521 non-U.S.citizen quarters buildings, apartments, and bachelor rooms. A reduced operating margin this fiscal year over last year reflects increased maintenance requirements on all residential housing and is attributed mainly to increases in Canal Zone rates and U.S. Wage Board labor rates. Revenues for U.S.-citizen housing were slightly under those for fiscal period 1957. The financial results of the non-U.S.-citizen housing show a substantial improvement over fiscal year 1957 as a result of a rental increase made effective in January 1957. The operating deficit was reduced to $17,270. U.S.-citizen quarters As of June 30, 1958, there were 2,460 family units in operation for citizen employees and their families. These excluded 8 apartments held in a standby status and 313 substandard units that were in the process of demolition or transfer to the Republic of Panama. With the exception of three occupants, the complete evacuation of New Cristobal has been accomplished NonU.S. -citizen quarters As of June 30, 1958, there were 1,854 family units in operation for non-U.S.-citizen personnel and their families. In addition, 88 family apartments were in the process of demolition or transfer. During late calendar year 1957, seven 12-family buildings at Pedro Miguel were

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28 SUPPORTING OPERATIONS reactivated for use as the final demolition program of La Boca was accomplished. There were 228 fewer non-U.S.-citizen families occupying quarters on June 30, 1958, than on June 30, 1957. Other activities The Housing Branch of the Community Services Division is also responsible for the administration, care, and maintenance of the Company/Government buildings. Care of grounds, collection and disposal of trash and garbage; cleaning of streets within townsites in the Canal Zone; landscape activities; and operation and maintenance of Summit Park and the Canal Zone cemeteries are administered by the Grounds Maintenance Branch. There was no change of consequence in the workload of the Company and Government building subprogram. The increase in depreciation expense includes the reinstatement of plant previously offset by economic valuation allowance, and the provision of special reserves to offset the net book value of 16 Company buildings licensed to various religious, civic, welfare, and commercial groups. Canal Zone rate wage increases and upwardly revised truck rental rates, effective July 1, 1957, account for the two major areas of increased operating expenses of the care of grounds. The addition of 200 acres of housing areas in Coco Solo and Pedro Miguel added to the workload of both branches; however, the phaseout of the towns of La Boca and New Cristobal offset this increase. Added depreciation costs on new replacement machines and Canal Zone rate wage increases account for the increased operating expenses of the Garbage Collection and Disposal Unit. The closing margin approximates $29,333 as compared to the budgeted figure of $17,300. This difference is due to the failure of anticipated reductions in the volume of service furnished to the military. The street cleaning, Summit Park, and cemeteries operations all continued at the approximate levels of the 1957 operating figures. TRANSPORTATION AND UTILITY SERVICES Railroad operations The Panama Railroad comprises 48 miles of main-line single track across the isthmus between the terminal cities of Panama and Colon. In addition, it furnishes industrial switching service to the most important Company/Government and Armed Forces warehouses and installations, as well as to some industrial facilities in the Republic of Panama. It also maintains appurtenant freight and passenger stations, railroad yards, and locomotive and car repair shops. It serves all Federal Government agencies on the isthmus and is a common carrier serving commercial interests in the Canal Zone and the Republic of Panama. Passenger and freight workloads of the division showed increases of 33% percent and 18 Jercent, respectively, during the fiscal year over the previous year's figures. The increase in passengers carried produced a 22 percent increase in income, while the increase in freight tons hauled accounted for a 15 percent increase in income. Due to an overall workload increase with the exception of a reduced workload on the docks and piers which produced a reduction in switching

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PANAMA CANAL COMPANY 29 locomotive service income, and the reduction in force, the operating deficit was reduced by 51 percent. Comparative workload and income statistics are shown in the table below: Fiscal year 1958 1957 Passengers carried---------------------------------540, 641 405, 406 Revenue freight tons carried-----------------------129, 121 109, 720 Passenger service income ----------------------------$433, 165 $353, 743 Freight service income ----------------------------$731, 953 $637, 689 Switching and locomotive service income-------------$64, 104 $75, 933 Net operating deficit------------------------------$124, 830 $252, 071 Motor transportation The Motor Transportation Division operates two fully equipped repair shops, one at each canal terminal, and small repair facilities located in the Cristobal and Balboa pier areas; motor pools from three central garages; and a tire retreading plant at the Ancon garage. The division also maintains the motor vehicle fleet and various other types of power-driven equipment used by the Panama Canal Company/ Canal Zone Government for construction, materials handling, firefighting, grounds maintenance, and related motorized equipment owned by various units of the Company/Government. In addition, it also provides miscellaneous repair services to other U.S. Government agencies, employees, and others authorized to utilize such services. It supervises the operation of public bus transportation systems operating on both sides of the isthmus under franchise or concession, and performs annual inspections of commercial and privately owned motor vehicles as required by Canal Zone traffic regulations. Various Company/Government projects and other factors contributed to the overall increased demand for motor transportation services which resulted in a workload that was greater than that anticipated and budgeted for the year. The decrease shown in repair shop services furnished to units of the Company/Government and others eligible to use such services is due primarily to reduced credits from setting up only 52 new vehicles in the year as compared to 123 new vehicles in the previous fiscal year. Approximately 42 percent of the repair shops' workload was utilized in repair and maintenance of the division's motor fleet. Significant worldoad indices for the fiscal year as compared with the previous year are given below (reduction in transisthmian hauling is result of Company/Government units using railroad to fullest practical extent): Fiscal year 1958 1957 Vehicles in service-----------------------------535 535 Vehicle mileage--------------------------------5, 757, 000 5,488,000 Transisthmian freight hauled (tons)--------------14, 662 19, 791 Number of line handlers carried (transisthmian)---53, 682 65, 175 Repair shop services furnished others--------------$394, 872 $419, 048 Operating margin (or deficit) --------------------$28, 318 ($2, 513) Steamship operations The Panama Canal Company operates the Panama Line which provides a regular freight and passenger service between New York and the Canal Zone, via Port-au-Prince, Haiti. The steamship line is an important adjunct to the operation and maintenance of the Panama

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30 SUPPORTING OPERATIONS Canal, furnishing ocean transportation for the large quantity of goods required by the Panama Canal Company/Canal Zone Government, and supplying passenger transportation for employees and their families between the Canal Zone and the United States. Commercial passengers and freight are accepted on a space-available basis. This is the first year in which the two remaining vessels, the SS Ancon and the SS (Jristobal, operated under the new schedule which provided for 41 round-trip voyages annually. During the last 6 months of the fiscal year the business recession, affecting shipping throughout the world, was experienced also by the Panama Line. In spite of an initial 6 months' profit, the operating loss of the line at year's end rose to $111,041, primarily because of lower freight traffic. In addition, and contributing also to this loss, was the political unrest in Haiti, and a planned rehabilitation program initiated during the year to improve the mechanical and structural condition as well as the appearance of the two vessels as rapidly as the financial situation allows. Shown below is the statistical comparison of the fiscal years 1958 and 1957: Fiscal year Workload 1958 19-57 Number of completed voyages----------------------41 45 Tons of freight carried-_.---------------------------167, 951 199, 915 Average number of tons per voyage------------------4, 096 4, 442 Number of passengers carried------------------------9,528 10, 739 Average number of passengers per voyage ------------232 238 Operating margin (or deficit)------------------------($111, 041) $64, 724 Electrical power syste 7n The Panama Canal Company provides all electric power used in the Canal Zone. It operates and maintains hydroelectric and diesel generating stations, substations, transmission lines, and appurtenances. Two hydroelectric generating plants, one at Gatun and the other at Madden Dam, provide the normal power needs of the Canal Zone. Three major diesel standby plants are maintained to supplement the hydroelectric plants when water supply is inadequate. The combined generated output of the power system for fiscal year 1958 was 250,177,080 kilowatt-hours, a decrease of 4,798,020 kilowatthours, or 18.8 percent less than 1957. A total of 222,640,477 was delivered to customers as compared with 229,108,926 for the preceding year. Due to the prolonged dry season, diesel generation for water conservation was the heaviest on record. The total diesel power generated, 41,004,380 kilowatt-hours for the year, was 89.2 percent greater than the previous heavy record in 1949. Further particulars on electric power generated will be found in table 29, chapter V, page 111. Communications system The communications system consists of two main exchanges located in Balboa and Cristobal, with small exchanges at Pedro Miguel, Gamboa, Gatun, and Coco Solo, with their respective distribution systems connected by two transisthmian trunk cables. The system is independent of, but interconnected with, the Army and Navy systems in the Zone, and with the systems in the cities of Panama and Colon.

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PANAMA CANAL COMPANY 31 At the end of the fiscal year 1958, there were 7,670 telephones in service, as compared with 7,543 telephones in service at the end of the preceding fiscal year, an increase of 127. Water system The Water Branch continued to supply all the filtered water requirements of the Canal Zone, including that required for shipping, Armed Forces installations, the cities of Colon and Panama, and suburban Panama in the Republic of Panama. The system consists of two principal units, one serving the Pacific side of the isthmus, and the other the Atlantic area. The Pacific unit takes its water supply from the Chagres River near Gamboa, from which point the raw water is pumped to a filtration and treatment plant at Miraflores. The Atlantic side unit receives its water from Gatun Lake, from which water flows by gravity to a filtration and treatment plant at Mount Hope. Each unit has its own pumping stations, reservoirs, mains, and distribution piping. Two laboratories are maintained as adjuncts of the water system to perform the necessary tests to assure the production and distribution of safe, potable water. In addition to work performed in connection with water purification, the laboratories render various chemical, physical, and bacteriological tests for other Company/Government units and outside agencies. They also handle the chemical inspections for explosive and asphyxiating gases on burning or damaged ships. The total annual production of water for this fiscal period is 1.1 percent lower than in fiscal year 1957. The increased use by Panama and suburban Panama was more than offset by the reduced use by the Armed Forces and a reduction in water consumption by the city of Colon. The table below shows for the fiscal year 1958 and 1957 the consumption of filtered water for municipal purposes and for sales to vessels: Fiscal year 1958 Fiscal year 1957 (Thousands of cubic feet) Canal Zone (including Armed Forces)--------------562, 997 605, 030 City of Panama (including suburbs) ---------------737, 838 707, 464 City of Colon -----------------------------------175, 014 179, 551 Sales to vessels----------------------------------22, 054 23, 345 Total.------------------------------------1,497,903 1,515,390 Printing plant The printing plant performs the general printing and bookbindino services that are required by the Panama Canal Company/Canal Zone Government and other U.S. Government agencies operating on the isthmus. Authorized under regulations of the Joint Congressional Committee on Printing, it supplies letterpress and offset printing, provides addressograph and bookbinding services, and other miscellaneous printing services. While the workload of the printing plant decreased slightly (1 percent) in the number of print impressions registered, the number of production units increased by 1,812,846 in fiscal year 1958 in comparison with last fiscal year, an overall gain of 20 percent, in plant production. During the year, five positions were abolished in the plant as a result of improved operating procedures and methods. Total revenues and credits for the fiscal year amounted to $351,683,

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32 SUPPORTING OPERATIONS with total expenditures of $351,806, resulting in a net operating loss of $123.00. Vessel repairs The Industrial Division of the Marine Bureau provides repair facilities for commercial and Government shipping in the Canal Zone. Its operations are centralized in Mount Hope at the Atlantic terminal of the canal, and consist of a shipyard, drydock, shops, and related operations. A large drydock at Balboa, on the Pacific side, is maintained in a state of readiness for emergency use only as are other repair facilities. A total of 1,063 vessels, 65 feet or over, were repaired during the year, accounting for 1,763 ship-days. There were 43 vessels of this class drydocked during the year. Normally, the Company's own floating equipment provides the largest single source of work for the division through its routine drydocking and overhaul. During fiscal year 1958 Companx sources provided the principal workload and backlog throughout the entire year, and accounted for 49 percent of total revenues earned and 61 percent of the productive force. Actual workload in the division declined during the latter part of the year mainly because of cancellation of scheduled Navy work due to redeployment of these locally based naval craft to other areas. liarbor terminals operation The Company's terminal facilities consist of wharves and piers, with about 3 miles of berthing space, and other appurtenances necessary for handling, transferring, and stevedoring of cargo landed at the Atlantic and Pacific terminals of the canal either for ultimate destination in the Canal Zone or the Republic of Panama, or for transshipment to points beyond the isthmus. Facilities also include a tank farm at each terminal for storage of petroleum products, fuel handling plants for the transfer of petroleum products to storage facilities and for the delivery of bunker fuel to vessels at terminal piers. Cargoes handled include imports for the Canal Zone and the Republic of Panama, outgoing isthnian cargo, and the transshipment of cargoes to various world ports. A total tonnage decline of 11 percent (luring 1958 from the previous year's total is shown in the combined cargo stevedored between ships and shore at the two canal terminals, transferred between ships, or otherwise moved over the piers. Among the primary factors accounting for this loss were the direct shipments of coffee and raw cotton from west coast Central American ports to Europe and Japan, the curtailment of Armed Forces shipments, continued reduction in the Company's commissary sales, and decreases in scrap and banana exports. Improved cargo-handling techniques were introduced during the year to increase productivity on the piers. In compliance with the 1955 treaty, pier No. 3, located in Colon Harbor, was transferred to the Republic of Panama on November 7, 1957. This pier is a small pier, 160 feet long and 60 feet wide, located in the port of Colon adjacent to Cristobal Harbor. It is used by small vessels in coastal trade with Panama. While under the jurisdiction of the Panama Canal Company, the use of this pier was restricted to vessels whose length did not exceed 125 feet.

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PANAMA CANAL COMPANY 33 Comparative combined cargo movements in tons of cargo stevedored and financial results thereof are as follows: Fiscal year 1958 1957 Combined cargo movements between ships and piers-_ 940, 527 1, 050, 165 On the pier -------------------------------------892, 560 999, 440 Total (revenue tons)----------------------1, 833, 087 2, 049, 605 Income----------------------------------------$4, 191, 109 $4, 528, 316 Expenses.---------------------------------------$3, 823, 724 $3, 737, 436 Net income------------------------------$367, 385 $790, 880 The marine bunkering operations which is the other prime function of the Terminals Division is concerned primarily with the pumping and inward handling of petroleum products from tankers to storage tanks, both Company and privately owned, and the outward handling of such products from storage tanks to vessels or to tank farm loading platforms for local consumption. The increase in receipts in view of an overall decrease in the workload was in a large measure due to the discontinuation of the practice of loaning products among local oil companies. The decrease in overall workload is due primarily to reduced bunkers to vessels, reflecting in part the depressed state of shipping, and to the return to regular trade routes and bunkering at other ports of shipping that was diverted to the Panama Canal during the Suez Canal closure. The following comparative workload data is furnished for fiscal years 1958 and 1957: Fiscal year Workload 1958 1957 Combined receipts (Cristobal and Balboa)--------8. 686, 386 8, 589, 190 Combined issues (Cristobal and Balboa)----------7, 724, 516 8, 359, 083 Total barrels of products moved-----------16, 410, 902 16, 948, 273 Tankers discharging (Cristobal and Balboa) -.127 120 Vessels bunkering---------.----------------2, 823 3, 061 PRINCIPAL ENGINEERING AND CONSTRUCTION PROJECTS Bridge, Balboa, C.Z. Construction of a high-level bridge spanning the canal channel on the Pacific side of the isthmus is scheduled to begin during the coming fiscal year. The completion of this bridge will fulfill treaty commitments made between the United States of America and the Republic of Panama. During November 1957, a contract was awarded to an engineering company to make preliminary studies and estimates. A five-man Board of Consultants was appointed for the purpose of evaluating designs and to provide general engineering consulting services. This board consists of: Ralph A. Tudor, Panama Canal Company Board member; Roland P. Davis, Dean Emeritus of the University of West Virginia; F. C. Turner, Deputy Commissioner and Chief Engineer of the Bureau of Public Roads; Edward B. Burwell, Jr., retired Chief Geologist of the Office of the Chief of Engineers; and Aymar Embury II, bridge architect of New York. On April 10, 1958, the preliminary engineering report was presented

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34 SUPPORTING OPERATIONS to the Panama Canal Company and the Board of Consultants. A three-span, arch-truss-type bridge was selected as the most feasible from the standpoint of design, cost, and ease of construction, and a contract for the full design of the bridge was awarded. A considerable amount of preliminary work remains to be done, much of which will hinge on the selection of the alignment of the bridge and its approaches which were still under study at the close of the fiscal year. This bridge will permit uninterrupted highway traffic movement across the canal. Its overall length will be slightly over 2 miles from the ends of the highway approaches on the east and west sides. The main span crossing the canal will be 1,128 feet long and will have a minimum clearance of 201 feet above the canal at mean high tide. The bridge will connect wit-h Thatcher Highway on the west, while the east side approach will provide vehicular outlets directly to the Canal Zone and Panama City street systems at the Canal ZoneRepublic of Panama boundary limits. Under a schedule for the bridge project submitted by the engineering firm, preparation of the design plans and specifications can begin in July 1958. It is anticipated that a contract for the substructure work will be let by July 1, 1959, and the contract for the superstructure shortly thereafter. Contracts for the approaches are scheduled for award in December 1958 and February 1959. The project is scheduled for completion by December of 1962. Sixty-cycle power conversion program Eighteen major contracts were in progress during fiscal year 1958. Included in these were five closely related replacement projects which are being coordinated with the power conversion project. The five related project contracts total $3,477,400 and the 13 conversion project contracts total $7,030,800. The remaining major projects in the power conversion program are: System voltage correction, $381,500; conversion of unit No. 6, Gatun hydroelectric station, $230,000. The contract for the conversion of Gatun, Pedro Miguel, and Miraflores Locks amounts to $2,005,000. This contract is included in the total for the five related contracts. Conversion of all 25-cycle consumer equipment in the Atlantic area to 60-cycle operation was virtually completed. In the Central area, consisting of Gamboa, Santa Cruz, Summit, and Paraiso, consumer equipment was completed except for the Gamboa pump station and substation transformers. Conversion of the Pacific area commenced and proceeded energetically on or ahead of schedule. Again the principal impediment to fieldwork was the constantly recurring delay in receipt of materials ordered from U.S. manufacturers or suppliers. Phase I of increased dependable capacity of the locks A 60-foot extension to the south end of the overhaul shed at Miraflores Locks was started and will be completed in fiscal year 1959. It is required for storage of additional overhaul equipment involved in Phase I. All openings from side and center culvert laterals in the chamber floors at Pedro Miguel and Miraflores Locks were reshaped to fit

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PANAMA CANAL COMPANY 35 the lateral culvert plugs. Extensive cracks and open construction joints in culvert laterals were found at Pedro Miguel. All those between floor slab and culvert riser were closed with cement mortar. There remain to be sealed a great many open construction joints and cracks in laterals and risers in both lanes of Pedro Miguel Locks. This must be done to seal off leakage to a point where use of the lateral culvert plugs will be practical. A sluice gate was installed in the center culvert drain at Pedro Miguel to facilitate its control. Two elevator shafts, one in each level, were constructed at Miraflores, and one shaft at Pedro Miguel Locks for direct access to the center culvert. A well for the culvert dewatering pump was constructed at the south end of the center culvert at Miraflores and a similar well was constructed at the south end of Pedro Miguel. Aliscellaneous and other projects Other major engineering and construction projects initiated or concluded during the year included the remodeling of the Governor's residence; construction of executive quarters for the Lieutenant Governor; modernization of the Administration Building and installation of air conditioning, Balboa Heights, and modernization of the Terminals Building in Cristobal; remodeling of the former Ancon Commissary to provide office space; alterations to Balboa Heights Post Office; rehabilitation of Coco Solo housing project; reconstruction of the air-conditioning system in the Civil Affairs Building; designs for retail store and gas station at Coco Solo, Civil Defense Control Center, and the Pacific side passenger and freight terminals; site development studies for a new housing development, studies and designs for improvements to quarters; rewiring of Administration Building, Cristobal, and replacement of electrical distribution system, Cristobal piers; replacement of raw water pumps and appurtenances at the Gamboa pump station; replacement of pumping and electrical systems for locks caisson No. 1; replacement of streets at Old Cristobal and Margarita; and remodeling of BOQ for an elementary school at Coco Solo. Operations, and capital construction by contract Nearing the fiscal year's end, contracts in force reached a peak of $4,200,000 in March and April, and finished the year with $3,800,000. This was a 280 percent increase over the $1,500,000 at the beginning of the year. Forty-one Company/Government operations contracts were awarded during fiscal year 1958 having a total value of $693,000. Forty-seven contracts for capital construction were awarded for a total of $3,414,000 and the earnings amounted to $980,000. Boyd-Roosevelt highway maintenance Regular maintenance and emergency work was accomplished on the 45.81 miles of this highway located within the Republic of Panama. Emergency work consisted of the removal of road-blocking slides and replacement of failed culverts.

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36 SUPPORTING OPERATIONS Sosa Hill quarry The quarry continued at a higher level of production than for the previous fiscal year. Produced Produced Daily fiscal year fiscal year Unit capacity 1958 1957 Quarry and crushing ------------cubic yard-----385 38, 532 31, 030 Concrete mixing plant--------------do-------230 4, 538 3, 511 Asphalt mixing plant-------------ton.----------160 13, 134 6, 053

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A#pc IV ADMINISTRATION MAJOR ORGANIZATIONAL CHANGES During the past fiscal year a number of organizational changes were made in an effort to improve efficiency within the operations and to provide better service to all concerned. Effective July 1, 1957, a Tabulating Section was established in the General Ledger and Processing Branch of the Accounting Division, to replace the Machine Tabulating Section of the Administrative Branch. Effective July 1, 1957, the general accounting functions of the Supply Division were transferred to the Supply Accounting Section in the Office of the Comptroller. Effective July 14, 1957, Plant Accounting Branch and Plant Evaluation and Transfer Staff, were merged into one organizational unit, the Plant Accounting Branch. Effective October 1, 1957, the Commissary Division, Hotels Washington and Tivoli, Service Center Division, and Division of Storehouses were consolidated into the Supply Division of the Supply and Community Service Bureau. This division now consists of the Commissary Branch, Service Center and Hotel Section, Motion Picture Unit, and Storehouse Branch. The Housing and Grounds Division was subdivided into Grounds Branch and Housing Branch. Effective October 6, 1957, the Aids to Navigation Section of the Marine Bureau was consolidated with the Dredging Division of the Engineering and Construction Bureau. On November 3, 1957, the responsibility for direction of the Procurement Division was transferred from the New York office to the Supply and Community Services Bureau, Canal Zone. Effective November 7, 1957, the Hotel Washington was turned over to the Republic of Panama. Also transferred on this date to the Republic of Panama was pier No. 3, of the Terminals Division operation, Atlantic side. On December 1, 1957, the U.S. Navy turned over the Flamenco Island signal station to the Marine Bureau, Port Captain, Balboa, for operation and maintenance. Control of the Company/Government's capital obligations and expenditures was transferred from the Comptroller's office to the Engineering and Construction Director. MAJOR PERSONNEL CHANGES Col. Hugh M. Arnold (USA) (CE) was reassigned to Lieutenant Governor-Vice President, effective July 10, 1957, vice Colonel Herman W. Schull, Jr. (USA), relieved from duty July 9, 1957. Col. John D. icElliheny (USA), Lieutenant Governor-Vice President-designate, arrived in the Canal Zone preparatory to assuming duties upon departure of Col. Hugh M. Arnold, July 12, 1958. 37

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38 ADMINISTRATION Capt. Peter Grosz, Jr. (USA), was detailed from the U..' iny as Military Assistant to the Governor, effective July 12, 1957, vice Major David H. Smith (USA), relieved from duty July 26, 1957. Lt. Col. Robert D. Brown, Jr. (USA) (CE), was detailed from thq U.S. Army, effective August 3, 1957, as Engineering and Construction Director, vice Colonel Hugh M. Arnold (USA) (CE), reassigned. Mr. Lester A. Ferguson, General Manager, New York Operations, was reassigned to the position of Supply and Employee Service Director, effective October 29, 1957, vice Mr. Wilson H. Crook, deceased. Mr. John J. Barton was transferred May 29, 1958, from the Procurement Division, to General Manager, Supply Division, Supply and Community Service Bureau. Capt. James A. Flenniken (USN), was appointed Port Captain, Balboa, May 18, 1958, vice Captain Anthony C. Roessler (USN), relieved from duty with the Panama Canal Company May 8, 1958. Mr. Edward N. Stokes, Superintendent, Railroad Division, was separated by reduction in force, effective July 31, 1957. ORGANIZATION CHART A chart of the Panama Canal organization as of June 30, 1958, is included with this report. FORCE EMPLOYED AND RATES OF PAY The full-time force employed by the Panama Canal Company as of June 30, 1958, totaled 10,844, an increase of 310, or 2.94 percent, over the number employed on June 30, 1957. The increase consisted principally of temporary employees who were employed for locks overhaul. The highly diversified activities of the enterprise include a large number of different functions, and almost every employment category will be found in the organization. For many years only citizens of the United States were eligible for employment in executive, supervisory, professional, subprofessional, and clerical positions. During the past several years, however, properly qualified citizens of the Republic of Panama have been eligible for appointment to these positions in which special education, training, or other high qualifications are a requisite. The rates of pay for such positions, normally referred to as "U.S.-rate positions," are based on rates for similar positions in the Federal service in the United States plus, normally, a 25 percent tropical differential allowed in the case of U.S. citizens. All positions for which the predominant area of recruitment is the Panama labor market constitute a second category, the Canal Zone wage group. The rates of pay within this group are based generally upon locally prevailing rates of pay. At the present time, most of these positions are those occupied by nonskilled or semiskilled workers, helpers, laborers, etc. However, the number of skilled positions in this group is increasing due to the increased utilization of non-U.S. citizens in all positions for which suitably qualified local applicants can be obtained. Most of these positions are filled by persons indigenous to the areas adjacent to the canal, although a scattering of nationals of other countries is included.

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PANAMA CANAL COMPANY PRESIDENT OF THE UNITED STATES STOCKHOLDER BOARD OF DIRECTORS PRESIDENT : 9, COMPTROLLER VICE PRESIDENT SECRETARY v.1 SR' .{6VU~ RE I9nlIT S fI, AN. R fiz "K -V, N -E STAFF EXECUTIVE PERSONNEL OFFICE OF PUBLIC SAFETY ADMINISTRAiIV PLANNING STAFF BUREAU GENERAL COUNSEL INFORMATION OFFICE BRANCH ASSISTANT CHIEF DRRE TR GENERAL COUNSEL NMAT 'NI ~909~R CHIF OPERATIONS MARINE ENGINEERING AND SUPPLY AND TRANSPORTATION NEW YORK ADMIN TRATIVE BUREAU CONSTRUCTION COMMUNITY SERVICE AND TERMINALS OPERATIONS BRANCH BUREAU BUREAU BUREAU V ~<~ r______W,

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a 1

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PANAMA CANAL COMPANY 39 The full-time force of the Company for employees paid at U.S. rates on the isthmus numbered 2,463 on June 30, 1958, as compared with 2,389 on June 30, 1957, an increase of 74, or 3.10 percent. The full-time force of those paid at Canal Zone rates numbered 8,381 as of June 30, 1958, in comparison with 8,145 on June 30, 1957, an increase of 236, or 2.90 percent. In addition to employees in the Canal Zone there were 381 U.S. citizen employees in the New York office and 1 U.S. citizen and 10 non-U.S. citizens employed in Haiti on June 30, 1958, as compared with 380 in the New York office and 1 U.S. citizen and 9 non-U.S. citizens in the Haiti office on June 30, 1957, an increase of 2. The number of employees by function will be found in tables 30 and 31, chapter V, pages 111 and 113. EMPLOYEES PAID AT U.S. RATES' Turnover in force Three hundred and eighty-four full-time employees for whom replacements were required terminated during fiscal year 1958, as compared with 345 in fiscal year 1957. There were 85 employments iil addition to the 384 terminated employees who were replaced. The net turnover rate (based on replacements on total terminations) was 10.9 percent as compared with 9.8 percent in fiscal year 1957. Voluntary terminations for the year totaled 222, a rate of 6.3 percent, in comparison with 217, a rate of 6.2 percent in the previous Year. Involuntary terminations for fiscal year 1958 totaled 162, a rate of 4.6 percent, in comparison WVith 188, or a rate of 5.3 percent in fiscal year 1957. Recruiting Of the 469 full-time additions to the isthmian U.S.-rate force during fiscal year 1958, 81, or about 17 percent, were recruited from the United States, and 388, or about 83 percent, were recruited locally. The addition of these 469 employees represents an accession rate of approximately 13.3 percent. At the close of fiscal year 1958, there were 45 U.S. requisitions pending, covering 58 U.S.-citizen positions. Wages On June 20, 1958, Public Law 85-426 granted a 10 percent increase in wages for Classification Act employees, retroactive to January 12, 1958. On May 27, 1958, Public Law 85-426 granted a similar increase for postal employees, retroactive to January 11, 1958. Wages of a number of other U.S.-rate groups, including craft, supervisory, floating equipment, power branch, railroad, printing plant, and miscellaneous, were adjusted upward during the fiscal year. The total annual cost involved was $2,024,392. The cost for fiscal year 1958 amounted to $893,261. I Statistics in this section cover both Pana'na Canal Company and Canal Zone Government employees.

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40 ADMINISTRATION EMPLOYEES PAID AT CANAL ZONE WAGE RATES 2 WTages No changes were reflected in the Canal Zone wage rate schedule during the fiscal year. Automatic and administrative pay increase at a total cost of approximately $153,608 per annum were given to 2,954 employees during fiscal year 1958. Annual increases were given to approximately 100 schoolteachers in July 1957. Cash relief for disabled employees The Cash Relief Act of July 8, 1937, as amended, affords a noncontributory, unfunded system for the payment of gratuities to employees of the Panama Canal Company and the Canal Zone Government who are disabled through age or disease. This act provides for a maximum monthly benefit of $1.50 multiplied by the number of years of service, not to exceed a total of $45. During fiscal year 1958, monthly payments averaged $167,857 ($155,700 for the Company and $11,500 for the Government). The average monthly payment per case was $37.81 for the Company and $38.78 for the Government, with a combined average of $37.88. New applications totaled 339, of which 295 were approved for payment, as compared with 162 received and 89 approved for payment in fiscal year 1957. The increase in applications is the result of a policy of deferment begun in 1957 for all of those employees reaching 62 years of age pending passage of legislation to bring non-U.S. citizens under coverage of the Civil Service Retirement Act. This legislation was not passed during the first session and consequently those persons deferred in fiscal year 1957, as well as those employees who became disabled or who reached age 62, were considered for disability relief in fiscal year 1958. Removals from the disability relief rolls due to death or subsequent reemployment totaled 255 for the Company and 19 for the Government. The number of disability relief beneficiaries as of June 30, 1958, totaled 4,456 (4,154 for the Company and 302 for the Government). Repatriations During fiscal year 1958, $1,304 was expended for the repatriation and rehabilitation of four former non-U.S.-citizen employees and their eight dependents. The number who can qualify under present regulations is extremely small and this function is now of little consequence. Separations Separations of Canal Zone rate employees were for the most part involuntary. Of the 1,202 separations in fiscal year 1958, 7 were due to reductions in force, 279 were transfers to the disability relief rolls or deaths, 734 were terminations of temporary employees and discharges; 182 were resignations. 2 Statistics in this section cover both Panama Canal Company and Canal Zone Government employees.

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PANAMA CANAL COMPANY 41 INCENTIVE AWARDS3 During the fiscal year 1958 the Company/Government organization continued its program designed to stimulate beneficial suggestions and meritorious performance of employees throughout both agencies. Emphasis was placed on the quality of suggestions rather than on the quantity of contributions. This year 378 contributions were received in comparison with 503 in fiscal year 1957. Twenty-two honorary award recommendations and 49 suggestions were approved for cash awards totaling $3,235. Tangible savings resulting from the adoption of the suggestions are estimated at $51,824 per year, the highest estimate in the history of the program begun in 1956. SAFETY PROGRAM The safety program of the Panama Canal Company and the Canal Zone Government is designed to develop and improve the program of accident prevention, inch]ding the coordination of occupational health, sanitation, and fire-prevention activities, and by reducing disabling injuries, reduce the frequency rate, severity, and cost of accidents. These functions and responsibilities are further emphasized by the Federal Emhployees' Compensation Act, which in part authorizes and directs the heads of the various departments and agencies to develop, support, and foster organized safety promotion. The Company/Government accident prevention program made gains in important areas during fiscal year 1958 over the previous 3-year average even though the year's activities included a hazardous locks overhaul and the Panama Line operations were, for the first time, included in the Company's safety records. The most notable single gain among tile various bureaus and the New York operations was that of the Transportation and Terminals Bureau which lessened its disabling injury rate by a total of 50 percent during the past 3 fiscal years despite the fact that a large part of its operations include high accident-risk stevedoring work. This Bureau's stevedoring frequency rate for the calendar period 1955-57 was 9.27 as compared to the 46.50 average reported by the National Safety Council, for the entire stevedoring industry in the United States during the same period. In addition, the Marine Bureau and the Engineering and Construction Bureau made marked improvements in reducing disabling injuries to their personnel over the same period. During the fiscal period, the safety program successfully strove to foster more active supervisor and employee participation in the program and a greater sense of responsibility on the part of these two groups for its success. The collective welfare was highlighted in terms of relief from painful injuries while obtaining tangible employment and other benefits from immediate and long-range economy of operation through the reduction of wasteful accidents. Stress was placed upon the importance of joint employee, supervisor, and management teamwork in accident prevention, which resulted in more closely knit efforts on the part of management officials and employees, and consequently itt safer, improved equipment, conditions, and work I Statistics in this section cover both Panama Canal Company and Canal Zone Government employees. 495687-59--

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42 ADMINISTRATION practices. The results of this approach and its reception by supervisors and employees have been such that increased reduction in accidents is anticipated for fiscal year 1959. It is believed that the groundwork has been provided for long-range improvement in accident prevention in all areas of the Company/Government. Two fatalities occurred during the period and 127 disabling injuries were sustained, resulting in considerably increased compensation costs and arbitrary lost-time charges. However, this is the second lowest iniumber of disabling injuries recorded in a single year since 1941, or since the opening of the canal for that matter. The fatality rate this year is equivalent to 1 accidental death for every 6,775 employees, as compared to the national average of 1 death for every 4,348 workers employed, as reported for calendar year 1956 by the National Safety Council. There were three injuries causing permanent partial disability as compared to four last year, and there was one permanent total disability case this fiscal year. This year's disabling injury frequency rate of 4.64 represents a 39percent increase over last year's rate of 3.35. However, this was the third time in the history of the organization's accident prevention program that the frequency rate was lower than the most recently published national average of 6.27, which was a new low experienced by all industry during the calendar year 1957, as reported by the National Safety Council. This year's severity rate of 787 represents an increase of 395 percent over the 1957 rate of 159. This rate represents the time charges in days per million man-hours of exposure. Disabling injuries increased by 44 percent this fiscal year in comparison with only 88 sustained during 1957. As a result of the safety achievements earned throughout the period, the National Safety Council presented its highest award, the Award of Honor for calendar year 1957 to the Company/Government and to the Transportation and Terminals Bureau. This award is earned on the basis of "outstanding improvement" in both disabling injury frequency and severity over "par" rates prescribed by the Council to rule out chance fluctuations. The Governor-President Annual Safety Trophy, awarded each calendar year to the bureau achieving the highest percentage improvement in disabling injury frequency rate over its own previous 3-year average, was awarded to the Transportation and Terminals Bureau for their 64-percent improvement in 1957. Safety Statistics Fiscal year 1958 1957 Employee-hours of exposure -------------------27, 342, 000 26, 251, 000 Disabling injuries ---------------------___---------127 88 Injuries causing permanent partial disability.-.---3 4 Injuries causing permanent total disability_-1 0 Frequency rate I ----------------------------------4. 64 3.35 Severity rate 2 ------------------------------787 159 Number of fatalities---------------------------_._._2 0 Days charged-------------------------------21, 516 4, 163 1 Disabling injuries per nilliou employee-hours of exposure. 2 severity rate is the time charged in days, per million employee-hours of exposure.

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W Hon. George H. Roderick Presenting Safety "Award of Honor" to Governor Potter.

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PANAMA CANAL COMPANY 43 LEGISLATION During fiscal year 1958, Congress enacted six laws, briefly discussed below, which apply to or affect the canal enterprise (in addition to appropriation acts and various general acts which contain provisions applicable to these agencies or to the Canal Zone). The act of August 30, 1957 (Public Law 85-223, 85th Cong.; 71 Stat. 509), authorized the conveyance of various lands and improvements to the Republic of Panama in fulfillment of the 1955 treaty and accompanying memorandum of understandings. The act of August 30, 1957 (Public Law 85-231, 85th Cong.; 71 Stat. 514), amends the Fair Labor Standards Act of 1938, as amended, to clarify its application in the Canal Zone and certain other overseas areas. The act of February 20, 1958 (Public Law 85-331, 85th Cong.; 71 Stat. 16), amends section 216(b) of the Merchant Marine Act, 1936, as amended, to provide for appointments of cadets from the District of Columbia, Guam, American Samoa, Virgin Islands, and the Canal Zone. The effect of this act, so far as the canal enterprise is concerned, is to include the Governor of the Canal Zone among officials authorized to nominate candidates for annual competitive examinations for the Academy, and provide for the allocation of two vacancies each year to the Canal Zone. The act of March 17, 1958 (Public Law 85-346, 85th Cong.; 72 Stat. 37), amends the Canal Zone Code to provide for the transfer to the Canal Zone postal revenues of the amounts of money orders issued by the Canal Zone postal service and remaining unpaid after 20 years from date of issuance. The act of May 19, 1958, amends section 831 of title 5 of the Canal Zone Code so as to make it a felony to injure or destroy communication facilities in the Canal Zone. The act of June 18, 1958 (Public Law 85-460, 85th Cong.; 72 Stat. 200), amends the definition of the term "State" in the Veterans' Readjustment Assistance Act and the War Orphans' Educational Assistance Act to clarify the question of whether the benefits of those acts may be afforded to persons pursuing a program of education or training in the Canal Zone.

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FINANCIAL REPORT AND STATISTICAL DATA FINANCIAL STATEMENTS AND RELATED SUPPLEMENTARY REPORTS FOR THE YEAR ENDED JUNE 30, 1958 The financial statements of the Panama Canal Company appearing in tables I through 11, with the accompanying notes, fairly present the financial position of the Company at June 30, 1958, and the financial results of its operations for the fiscal year then ended. Tables 9 through 11 were previously published on October 10, 1958, as an official release to the press and were included in the Annual Report of Board of Directors to Stockholder. All statements have been examined by the Internal Audit Staff of the Company, and are subject to audit by the General Accounting Office. Audit reports of the General Accounting Office are directed to the Congress and are printed as congressional documents. Supplementary information concerning funds, operating results, payments to the U.S. Treasury, net direct investment of the U.S. Government, and retained revenue is presented in the tabulations and comments which follow: Source and application oJ funds The following is a condensed statement of funds provided and applied during the year ended June 30, 1958: FUNDs PROVIDED: Income from operations (table 3)---------------------_$2, 656, 382 Add back nonfund transactions: Provision for depreciation-----------$5, 262, 336 Provision for locks overhaul ---------1,040,800 Amortization of slide hazard ---------200, 000 Miscellaneous---------------------50, 261 6, 553. 397 Total funds from current operations -------------9, 209, 779 Currently realized proceeds from sale of SS Panama -------1,069, 500 Excess of market over book value of Canal Zone Government properties transferred to Republic of Panama under 1955 treaty ----------------------------------------------372, 540; Decrease in accounts receivable -------------------------640, 368 Decrease in inventories----------------------------------2, 343 Increase in current liabilities ----------------------------145, 164 Appropriation for Panama Canal bridge-------------------750, 000. Total funds provided---------------------------------12, 210, 694

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PANAMA CANAL COMPANY 45 FUNDS APPLIED: Acquisition of fixed assets------------------$7, 738, 274 Less net plant salvage----------------------310, 408 $7, 427, 866 Cost of overhaul of canal locks--------------------------2,796,548 Increase in cash---------------------------------------1,791, 211 Increase in other current assets--------------------------._8, 014 Panama Canal bridge expenditures -----------------------187, 055 Total funds applied----------------------------------12,210, 694 Financial operating results Since its reorganization on July 1, 1951, the Panama Canal Company has completed 7 years of operation without cost to the American taxpayer. Net revenue for the fiscal year ended June 30, 1958, after provision for payment to the U.S. Treasury of $8.8 million interest on the U.S. Government's direct investment, and $10.7 million covering net cost of the Canal Zone Government, was $2.66 million as compared with net revenue of $3.82 million for the preceding year. As to dollar volume of traffic, fiscal year 1958 was the best in the history of the Panama Canal. Tolls and tolls credits reached an alltime high of $42.8 million, as compared with the previous highs of $39.7 million for the preceding year and $37.5 million in 1953. The decline in net revenue was caused by a sharp rise in operating expenses, primarily due to wage increases, which more than offset the increase in tolls. Net direct investment of the U.S. Government Certain properties, having an appraised market value of $4.8 million, were transferred to the Republic of Panama to fulfill treaty obligations. Additional properties, having an appraised market value of $14.7 million, will be so transferred during subsequent years. Public Law 85-223, approved August 30, 1957, provides for a reduction in the interest-bearing investment of the U.S. Government for the economic loss based on market value of such properties transferred and on net capital loss of certain properties which have become excess due to the Treaty. Retained revenue As provided by section 246 of title 2 of the Canal Zone Code, as amended, the Company's retained revenue consists of all net revenue from operations of the Company and its predecessor, the Panama Railroad Company (New York), from and after 1904 plus the undistributed net revenue prior to 1904. All capital repayments made to the U.S. Government by both corporations are treated by law as repayments of the Government's direct investment in the Company and serve thereby to reduce the interest-bearing portion of the Government's equity. The amounts thus applied to date are shown in Table 2, Comparative Statement of Equity of U.S. Government. Retained revenue, exclusive of a $10 million emergency fund held by the U.S. Treasury, increased from $85,564,383 at June 30, 1957, to $88,548,430 at June 30, 1958. The composition of retained revenue is detailed in Table 2, Comparative Statement of Equity of U.S. Government.

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46 FINANCIAL REPORT AND STATISTICAL DATA Table 1.-Statement of Financial Condition, June 30, 1958 Assets CURRENT ASSETS: Fund balances with U.S. Treasury and cash: Fund balances: Checking account-. $26, 862, 697 Allocation from U.S. Government agencies-------------8, 905 $26, 871, 602 Cash in commercial banks, on hand and transit ------------------.-------3,892,555 $30,764,157 Notes receivable----------------------------------.----1,069,500 Accounts receivable: Canal Zone Government--------------$1, 387, 436 Other U.S. Government agencies -----513, 374 Others-----------------------------1,438,172 3, 338, 982 Inventories, principally at average cost (table 7): Materials and supplies, less allowance of $1,047,906 for excess, obsolete, and inactive stocks ----------------------$4, 491, 880 Merchandise held for sale -------------3, 412, 911 7, 904, 791 Other current assets--------------------------------201, 339 Total current assets---------------------------------43, 278, 769 LoNG-TERM NOTES RECEIVABLE ----------------------------2, 139, 000 FIXED ASSETS (note 1 and table 8): Cost-----------------------------------$598,011,736 Less depreciation and valuation allowances-185, 562, 286 412, 449, 450 PANAMA CANAL BRIDGE: Fund balance with U.S. Treasury----------$590, 382 Construction work in progress-------------159, 618 750, 000 DEFERRED CHARGES AND OTHER ASSETS.-----------------------4, 044, 907 462, 662, 126

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PANAMA CANAL COMPANY 47 Table 1.-Statement of Financial Condition, June 30, 1958-Continued Liabilities and equity CURRENT LIABILITIES: Accounts payable: U.S. Government agencies------------$1, 355, 164 Others -----------------------------2,349,927 $3, 705, 091 Due U.S. Treasury: Net cost of Canal Zone Government ----$1, 644, 310 Interest on net direct investment .-710,994 Annuity payment to Republic of Panama--------------------------35,833 2, 391, 137 Accrued liabilities: Salaries and wages -------------------$1, 794, 103 Employee's accrued leave --------------6, 606, 940 Damages to vessels --------------------463, 833 Others----------------------------432,230 -9, 297, 106 Customers' deposits and advances (includes Army funds of $8,905)-------------------------------345, 149 Other current liabilities----------------------------------315, 030 Total current liabilities-------------------------------16, 053, 513 RESERVES: Periodic overhaul of canal locks -----------$1,448,531 Noncapital costs of power conversion -------4, 000, 000 5, 448, 531 EQUITY OF U.S. GOVERNMENT (note 2 and table 2): Net direct investment, interest-bearing -----$351, 861, 652 Retained revenue, noninterestbearing------------------$98, 548, 430 Less fund on deposit with U.S. Treasury, available on loan basis without interest ----------------10,000,000 88, 548, 430 Panama Canal bridge.--------------------750, 000 441, 160, 082 462, 662, 126 The accompanying "Notes Pertaining to Financial Statements" are an integral part of this statement.

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48 FINANCIAL REPORT AND STATISTICAL DATA NOTES TO FINANCIAL STATEMENTS, JUNE 30, 1958 1. 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 246 and 412 of title 2 of the Canal Zone Code (1) to offset the cost of defense facilities and suspended construction projectsprincipally the partial construction of a third set of locks abandoned in the early part of World War II-totaling $89.4 million and interest during original construction aggregating about $50.9 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. Depreciation or amortization allowances have not been provided on certain assets-land titles, treaty rights, and excavations of channels, harbors, basins, and other works-costing about $281 million based on historical practice and a construing of the Canal Zone Code as not requiring the depreciation or amortization of such costs. Depreciation allowances on all other fixed assets are accumulated on a straightline group basis; losses or gains on retirements generally are charged or credited to the accumulated allowances. 2. Equity of the U.S. Government.-The equity of the U.S. Government in the Company consists of the net direct investment, established in accordance with section 246 of title 2 of the Canal Zone Code, and the retained revenues. The Company is required to pay interest to the U.S. Treasury on the net direct investment at a rate established by the Secretary of the Treasury. The rates for 1958 and 1957 were, respectively, 2.482 and 2.485 percent. An emergency fund of $10 million is available in the U.S. Treasury from which the Company may borrow funds for authorized purposes on an interest-free basis for limited periods. The fund was established by the predecessor Company in June 1948 out of retained revenues pursuant to section 254 of title 2 of the Canal Zone Code. Public Law 85-223, authorizing the transfer of properties to the Republic of Panama pursuant to the 1955 treaty, provided for a reduction in the net direct investment of the U.S. Government of the market value of the properties-aggregating about $14.7 million-and of any capital losses sustained in the relocation or disposal of facilities resulting from the treaty. The net direct investment was reduced $4.8 million during fiscal year 1958 representing the market values of the properties transferred to Panama during the year.

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PANAMA CANAL COMPANY 49 Public Law 753, 84th Congress, directed the Company to construct, maintain, and operate a high-level bridge across the canal at Balboa; the costs of construction and of maintenance and operation to be treated as extraordinary costs incurred through a directive based on national policy and not related to the operations of the Company. An appropriation of $750,000 for planning and engineering studies was made in fiscal year 1958. An additional appropriation of $19,250,000 for construction of the bridge became available on July 1, 1958. 3. Contingent and other liabilities.-The Company has outstanding, at all times, contingent and continuing liabilities in indeterminable amounts arising principally from monthly relief benefits payable to retired alien employees; benefits payable under provisions of the Federal Employees Compensation Act; commitments for construction work, supplies, and services; and pending suits and claims. The relief payments to be made to retired alien employees in fiscal xear 1959 are estimated at $1.9 million. Commitments under uncompleted construction contracts and unfilled purchase orders amounted to about $8.5 million at June 30, 1958. The maximum liability which would result from outstanding claims and lawsuits is estimated to be about $3 million. Public Law 85-550, approved July 25, 1958, bringing non-U.S.citizen employees under the civil service retirement system resulted in a payment to the U.S. Civil Service Commission of about $4.9 million for retroactive costs to June 30, 1958. These costs will be recorded as an adjustment of retained income. The Company held at June 30, 1958, negotiable U.S. Government securities in the face amount of $770,000, deposited by customers to guarantee payment of tolls and other charges and, on behalf of the Canal Zone Government, securities in the face amount of $391,500 to guarantee payment of possible judgments rendered against insurance companies operating in the Canal Zone.

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so FINANCIAL REPORT AND STATISTICAL DATA Table 2.-Statement of Equity of U.S. Government, June 30, 1958 NET DIRECT INVESTMENT: Capital stock in Panama Railroad Company -------------$7, 000, 000 Valuation of net assets transferred from The Panama Canal (agency)-------------------------------------------402, 176, 883 Gross direct investment_------------------------------409, 176, 883 Less dividends and other charges deductible from direct investment: Capital repayments to U.S. Treasury: Prior to June 30, 1951 -------------------------23, 994, 905 Subsequent to June 30, 1951--------------------15, 000, 000 Appraised value of properties conveyed to the Republic of Panama without reimbursement: Dec. 16, 1943 --------------------------------11, 759, 956 Nov. 7, 1957 ---------------------------------4,820,000 Property transfers, other U.S. Government agencies, net 1, 740, 370 Total deductions.-------------------------------57, 315, 231 Net direct investment-------------------------------351,861, 652 RETAINED REVENUE: Retained revenue at July 1, 1951 ------------------------71, 136, 026 Net revenue subsequent to July 1, 1951 ------------------22, 812, 635 Extraordinary (charges) and credits to retained revenue: Net gain on sale of SS Panama ----------------------4,272, 104 Excess of market over book value of properties transferred to Republic of Panama under 1955 treaty: Panama Canal Company properties--------------3, 955, 125 Canal Zone Government properties ---------------372, 540 Provision for noncapital power conversion costs-------(4, 000, 000) 98, 548, 430 Less fund held by U.S. Treasury------------------------10,000,000 Retained revenue-----------------------------------88, 548, 430 PANAMA CANAL BRIDGE-------------------------.------------750, 000 EQUITY OF UNITED STATES GOVERNMENT .-----------------. 441, 160, 082 The accompanying "Notes Pertaining to Financial Statements" are an integral part of this statement.

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PANAMA CANAL COMPANY 51 Table 3.-Statement of Revenue and Expenses, Year Ended June 30, 1958 Supporting Canal service operations operaiicns REvENUE: Total (table 4) (table 6) Canal tolls -----------------$41, 843, 525 $41, 843, 525 ----------Credit for tolls on U.S. Government vessels--------------990, 481 990, 481 ---Sales of commodities ---------17, 706, 260 ----------17, 706, 260 Sales of services.-------------19, 970, 846 3, 694, 093 16, 276, 753 Rental of quarters-----------2,599,497 ----------2, 599, 497 Total revenue-------------83, 110, 609 46, 528, 099 36, 582, 510 OPERATING ExPENSES: Direct expenses and interdivisional sales and services----56, 592, 645 19, 029, 933 37, 562, 712 Cost of commodities sold-----13, 361, 199 ----------13, 361, 199 Depreciation ----------------5, 140, 134 2, 030, 610 3, 109, 524 Total operating expenses ---75, 093, 978 21, 060, 543 54, 033, 435 Less interdivisional sales and services ------------------20, 871, 875 1, 332,584 19, 539, 291 Net operating expenses-----54, 222, 103 19, 727, 959 34, 494, 144 OPERATING INCOME--------------28, 888, 506 26, 800, 140 2,088, 366 GENERAL CORPORATE EXPENSES: Net cost of Canal Zone Government (table 3, Canal Zone Government financial statements)-------------------10,737,194 Interest on net direct invest meant of the U.S. Government8, 778, 560 Administrative and other expenses (includes $122,202 depreciation) (table 6). ------6,716,370 Total general corporate expenses-----------------26,232,124 NET REVENUE----------------2,656,382 The accompanying "Notes Pertaining to Financial Statements" are an integral part of this statement.

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52 FINANCIAL REPORT AND STATISTICAL DATA Table 4.-Statement of Revenue and Operating Expenses, Canal Operations, Year Ended June 30, 1958 REVENUE: Canal tolls.--------....------------------------------------------------------$41,843,625 Credit for tolls on U.S. Government vessels---------------------------------------990,481 Harbor pilotage, tug, launch, and other services ---_.----------------------------------3,694,093 Total revenue.._.__------------------------. .--------------------------------46,528, 099 Direct expense and interdivisional sales and DepreciOPERATING EXPENSES: services action Navigation services and control ----------------$6,391,727 $261,070 Locks operation and maintenance.--.-------------5,717,016 1,224, 798 Provision for periodic overhaul of locks-----------1,040,800 Dredging of channel and harbors ----------------2, 972,002 356, 517 Amortization of cost of removing slide hazard.-.-_ 200,000 Meteorology and hydrography -------.-----383, 188 8, 724 Operation and maintenance of dams, reservoirs, and splflways_----------------------------------81,710 115,573 Operation and maintenance of ferry across canal -522,062 52, 297 Annuity to Republic of Panama (repayment to U.S. Treasury)------------------------------430,000 .Damage to vessels -----------------------------355, 658 Other operating expenses -----------------------935, 770 11,631 Total operating expenses ---------------------19,029,933 2,030,610 $21, 060, 543 Less interdivisional sales and services --------------------------_ 1,332,584 Net operating expenses ----------------------------------------------------19,727, 95 OPERATING INcOME (table 3) ----------------------------------------------------26,800,140

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Table 5.--Stateanent of Revenue and Operating Expenses, Supporting Services, Year Ended June 30, 1958 z Revenues Operating expenses Direel expenses Z and interLess inlerSates of divisional ('ost of divisional Net Operating r SsPPORTING SERVaCES: Conz modSales oj Rental of Total sales and corn mod)eprecisales and operating income or 0 Maritime services;: ies services quarters revenue services ies sold ation services expenses (tos) 0 Marine terminal operations ._ -$4, 758, 776 .$4, 758, 776 $4, 249, 170 __-__-._-$400, 057 $537, 200 $4, 112, 027 $646, 749 Vessel repairs operations .-1, 537, 238 .1,537,238 2,684,455 -. 93,875 1,372,221 1,406,109 131, 129 3 lHotel Waslinglon operations $25,457 38,544 .64,001 29,024 $13,248 3,321 1,612 43,981 20,020 z Total maritime services 25,457 6,331, 558 6,360,015 6,962,649 13,248 497,253 1,911, 033 5,562,117 797,898 Employees' set vices: Comnmissarie--13, 230,516 168, 728 -13,359,244 5,214,370 10,453,140 147, 375 2,585,272 13, 269, 613 129,631 Ser viceenters 2,902,977 265,206 -3,168,183 1,405,755 1,786,622 93,551 118,877 3,167,051 1,132 llousniIe operations; UX-rale quarters .----------------.1,972,651 1,972,651 993,822 -. --573,567 67,441 1,499,948 472, 703 Local rate quarters ---------------------------------------626,846 626,846 509,828 ---------147,804 13,515 644,117 (17,271) Total employees' ser vices 30, 133, 493 433, 934 2,59,497 19, 166, 924 8,123,775 12,279,762 962, 297 2,785,105 18,580,729 586,195 Tr sport itiOn and utilities sernIces: hlilroad i--818,704 ---------818,704 1,393,848 -.---.--79,388 529,702 943,534 (124,830) o tsportaion --------------------------------------124,665 ---_____ 124,665 1,448,640 ---------235,022 1,587,316 96,346 28,319 >te sitiip lin 46, 941 4,630,631 ---------4,677,572 5,948,511 21, 896 170, 126 1,351,920 4,788,613 (111,041) l-o--,-r ----e--1,415,824 1,415,824 1,750,292 .-.-. .582, 190 1,179,588 1,152,894 262, 930 ( .n .tion .t 293,317 293,317 449, 169 ---------63,517 270,421 242,295 51,022 \\w9 r --s _s. 1,155,122 1,155,122 939, 031 __ _---245, 225 253, 341 930, 915 224, 207 ii til 1 -pn1 t ios a I util iti sie-lee .46, 941 8,438,263 8,485,204 11,929,491 21,896 1,375,498 5,172,288 8,154,597 330,607 Otl I sUppO1r ti0 -rvs sF ninrs m d s i ailtesanue smervies 694, 706 694, 706 4, 682,462 118, 742 4,228, 920 572, 284 122, 422 Sul ph 'p --I1,082, 45 20, 620 1,103.078 3,969,428 829, 024 98, 4b6 3,982,140 914,760 188, 318 Se i o rat O, 161,415 880 162,295 44, 183 85, 861 5,412 10,516 124, 910 37, 385 1'r an r--ns-t d-i-n -243,977 ---------947 254,924 -. .-. i o l t --, -.1 1 256, 496 133, 16 390, 312 272, 995 131, 408 11,263 23, 498 392, 168 (1,856) -----p---i-18,237 18,237 338,664 --------13,142 333,446 18,360 (123) -rottid--mant ,7201,739 201,739 995,088 ---------26,514 847,383 174,219 27,520 Tots) s. ie. sujiortin srves ----------1, 500 369 1,069, 998 2,570, 367 10,546,797 1,046,293 274, 476 5,670,865 2,196,701 373, 666 TOTAL OP sIoNC tvstME Iabi, 3) -17, 706,720 16,27753 2,599, 497 36,582,510 37,562,712 13,361,199 3,109,524 19,539,291 34,494,144 2,088,366 in.

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54 FINANCIAL REPORT AND STATISTICAL DATA Table 6.-Administrative and Other General Expenses, Year Ended June 30, 1958 ADMINISTRATIvE EXPENSES UNDER STATUTORY LIMITATION: Comptroller's office and staff ---------------------------$1, 901, 919 Personnel Bureau----------------------------------------526, 648 President's office and staff -------------------------------507, 727 Administrative Branch-----------------------------------318,262 Office of the Secretary------------------------------------67, 624 Provision for General Accounting Office audit services --------97, 329 Board of Directors' expenses ------------------------------15, 846 Consultants and advisers---------------------------.----7, 734 Branch accounting offices ---------------------------------263, 898 Office of Marine Director --------------------------------98, 851 Office of Engineering and Construction Director-------------118, 494 Office of Supply and Employee Service Director.--------------71, 612 Office of Transportation and Terminals Director--------------47, 232 General and special engineering services -------------------158, 404 Apprentice program.--------------------------------------67, 810 Public services ------------------------------------------76, 211 Maintenance of Company buildings ------------------------147, 024 Duplicating unit -----------------------------------------72, 130 Alien cash relief--------------------.-------------------1,867,919 Employees' States travel---------------------------------673, 806 Recruiting and repatriation -------------------------------200, 485 Death and disability compensation ------------------------88, 669 Provision for retroactive pay adjustment -------------------146, 041 Leave liability variation ----------------------------------85, 365 Contribution to Federal employees' government life insurance59, 232 Other miscellaneous expense --------------------------31, 833 Depreciation--------------------------------------------99, 639 Total -----------------------------------------------7,817,744 OTHER GENERAL EXPENSEs NOT UNDER STATUTORY LIMITATION: Branch Accounting Office.---------------------------------70, 715 Inventory reserve expense --------------------------------170, 000 Noncapital losses resulting from treaty implementation.-------467, 427 Provision for retroactive pay adjustment--------------------247, 986 Leave liability variation----------------------------------70, 758 Other miscellaneous expenses -----------------------------(113, 306) Depreciation -----------------------------------------22, 563 Total-----------------------------------------------936, 143 Total administrative and other general expenses -----------8,753,887 LESS REvENUES AND OTHER CREDITS: Revenues_----------------------------------------------287, 835 Administrative expenses assessed to Canal Zone Government.-. 750, 000 Distribution of alien cash relief_----------------------------966, 554 Other transfers of costs--------------------------------33, 128 Total revenues and other credits -------------------------2, 037, 517 NET ADMINISTRATIVE AND OTHER GENERAL EXPENSES (table 3)___6, 716, 370

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PANAMA CANAL COMPANY 55 Table 7.-Inventories, June 30, 1958 MATERIALS AND SUPPLIES: Storehouse Branch: General materials and supplies -----------------------$3, 793, 239 Petroleum products----------------------------------167, 190 Scrap __--------------------------------------------213,237 In transit to isthmus --------------------------------306, 329 4, 479, 995 Other divisions' stock: Dredging Division -----------------------------------99, 471 Commissary Branch.---------------------------------86,570 Locks Division--------------------------------------104, 259 Railroad Division -----------------------------------186, 589 Construction and maintenance activities----------------162, 158 Water system -------------------------------------57, 557 Steamship line --------------------------------------67, 443 Industrial Division ----------------------------------36, 003 Terminals Division ----------------------------------96, 817 Motor Transportation Division------------------------58, 992 Printing plants --------------------------.-------3,012 Electric power system ------------------------------45, 937 1, 004, 808 Manufacturing and repair work in progress: Industrial Division -------------------------.--------4, 755 Other units ----------------------------------------228 54, 983 5, 539, 786 Less allowance for losses _.---------------------------------1, 047, 906 Total materials and supplies--------------------------4, 491, 880 MERCHANDISE HELD FOR SALE: Commissary Branch: In warehouses and in stores--------------------------2, 648, 775 In transit to isthmus ---------------------------------590, 536 3, 239, 311 Service centers -----------------------------------------162, 488 Tivoli Guest House -------------------------------------6, 798 Steamship line -------------------------------------4,314 Total merchandise held for sale -------------------------3, 412, 911 TOTAL INVENTORIES (table 1) --------------------------------7,904,791

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Table 8.-Changes in Fixed Assets and Related Allowances for Depreciation and Economic Valuation, Year Ended June 30, 1958 Fixed assets CANAL AND 0111m MARINE FACILITIES: Balances Current addiBalances Lands, titles, and treaty rights: June 30, 1967 tions Adjustments Transfers Retirements June 30, 1958 Treaty payments to Republic of Panama, 1901----------------------------------$10,000,000 ---------------------------------------------$10,000,000 Depopulation of Canal Zone -----------------.4, 728, -89 -.-----.-. .-----------4, 728, 889 Lands owned in fee, Colon, Republic of Panama----------------------------------1,552,500 ------------($27, 658) ($539, 960) -----------984,882 Total lands, titles, and treaty rights------------------------------------------16,281,389 ------------(27,658) (539,960) -----------15,713,771 Interest during construction ----------------------50, 892,311 ---------------------------------------------50,892,311 Canal excavation, fills, and embankruents: Canal channel, harbors, and basins -.---------------227,028,057 $1,041,285 ---------------------------------228,669,342 Dams -----------------------------------------------------------------------14,999,298 -_--------------------------------------------14,999,208 Locks, excavations ---------------------------------------------------------11,613,816 ------------.-----------------------------11,613,816 Breakwaters------------------------------------------------------------------9,287,095 -------------------------------------------9, 287 095 Z Spillways -------------------------------------------------_ ---------1,733,999---------------------------------------------------1,733,999 Spilwa s ._. ._-_. 173399 --__ .___ ._. -____ __-__ 1,3,9 Total canal excavations, fills, and embankments --------------------------------265,262,265 1,041,285 ---------------------------------266,303,550 Canal structures and equipment Locks Division ---79,336,149 64, 195 .-.---4,415 ($148,750) 79,256,009 N Drdging Division -12, 591, 718 28, 168 (668) (1, 546, 645) (601, 231) 10, 471,342 M Dams and spillway structures ----10,033,351 -_------------------------------------------10,033,351 0 Port Captains, Balboaand Cristobal ---5,818,153 36,409 ---__._---1,155,674 (34,718) 6, 975,518 M Aids to navig ation-_-_ --------------------------------------------------3, 092, 328 8,946 74,610 64,252 (16,227) 3,223,909 -1 Meteorological and 1lydrographic Branch ----------------------------------------194,087 3,004 ------.--157 -----------197,248 Ferry facilities -----------------1,619,434 ----------------------328,769 -----------1,948,203 Industrial Divisioi ssalvage depot ---------242,572-------.-------. 10,274 (2,360) 210,486 Engineering Division------------------------------------------------------------36,198 5,076 2-.----. 3,920 (1,998) 43,196 Total canalstructures and equipment ----------------------------------------112,963,990 148,798 73,942 20,816 (805,284) 312,399,202 Total canal and other marine facilities ----------------------------------------445,399, 955 1, 187,083 46,284 (519,144) (805,284) 445,308, 894 OTHER MIARITIEIr FACILITIES: Marine Terminals Division -------------------------------------------------------17,500,504 239,841 ------------(98,358) (115,991) 17,525,696 3 industrial Division ---------------------------------------------------------------,550,209 12,735 3,888 (246,635) (497,346) 5,822,851 rHotel Washington.-----------_ -----------------------------763,041 -.--------------------(763,041) ------------------------Total other maritime facilities--------------------------------------------------24,813,754 252,276 3,888 (1,108,034) (613,337) 23,348,547

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SUPPORTING AND GENERAL FACILITIES: Transportation and utilities: z Panama Railroad--. .-----------------------------------------------------------11,736,543 6,157 ..--------------------(10,085) 11,732, 615 Motor Transportation Division .-----------------------------------------2,313,491 140,924 -----. 1,620 (94, 436) 2,361,599 c Steamship line -------.------------------------------------------------P,147,346 12,780 (72) -----_. (34) 9,160,020 Power system._------------------------------------------------------21,219,240 41,601 118 (83,553) (279,101) 20,898,305 Communication system------.------------------------------------2,828,237 60,259 -------.---(7,033) (5,242) 2,876, 221 Water system--.--.-.-----.-----------------------------------10,664,850 50,384 (14,797) -----------(177,766) 10,522,671 z Total transportationand utilities-.------------------------------------57,909,707 312,105 (14,751) (88,966) (566,064) 57,551,431 r Employee services and facilities: Comm issary Division.t.i .e .s .:---.-.----.-.----------.---(,578,570 77,179 35,789 (693,711) (48,496) 5,949,331 C Service centers ------------------------------------------------------3,371,165 9,029 (89) 383 (53,160) 3,327,329 V Housing Division -----.-----------------------------------------------------34, 132,506 179,767 (55,202) (1,645,471) (585,645) 32,025,955 ) Total employee services and facilities ----------------------------------44,082,241 265,975 (19,501) (2,338,799) (687,301) 41,302,615 Other supporting services: Tivoli Guest House-----.-------------------------------------------------422, 104 814 _____-55 (3,308) 419,665 Printing plant---_-._._ ..-----------------------------------------------------332,073 8,438 --------------------(5,051) 335,460 Grounds maintenance.----------------------------------------------------------322,716 2, 137 75 -------(3,098) 321,830 Engineering maintenance.--.--.----------------------------------------2,759,738 49,799 -----------182,825 (110,414) 2,881,948 Storehouse Division-------------------------------------------------3,675,878 93,803 1,083 (388, 232) (149,217) 3,233,315 Total other supporting services ------.---.-----------------------------------7,512,509 154,991 1,158 (205,352) (271,088) 7,192,218 General facilities: Miscellaneous Company buildings---------------------------------------2,933,957 16,959 --------------94,083 (234,713) 2,810,286 Miscellaneous ollice equipment-Isthmus--------. .-------------------------1,058,700 16,303 798 (12, 717) (2,009) 1,061,075 Miscellaneous office equipment-New York Office.---------------------------48,062 5,572 --.---. (539) -----------53,095 Total general facilities. -------------------------------------------4,040,719 38,834 798 80,827 (236,722) 3,924,456 Total supporting and general facilities ---------------------------------113,545,176 771,905 (32,296) (2,552,290) (1,761,775) 109,970,720 Total fixed assets in service-------------.------------------------583.758,885 2,211,264 17,876 (4,179,468) (3, 180, 396) 578,628,161 FACILITIES HELD FOR FUTURE USE.--------------.-----------------------------1,516,056---------(2. 005, 317) 4,223,103 (366, 436) 3,367,406 CONSTRUCTION AND RETIREMENTS IN PRO(RESS: Construction work---------------------------------------------------------------7, 414,878 1,264,85 (1,579) ---------------------12,678,164 Retirements --------------------------------------------------------------------3,269,547 (221,827) ----------------------290,285 3,338,005 Total construction and retirements in progress ---------------------------------------.10,684,425 5,043,038 (1,579) -----------290,285 16,016, 169 U'

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Table 8.-Changes in Fixed Assets and Related Allowances for Depreciation and Economic Valuation, e Year Ended June 30, 1958-Continued Fixed assets Balances Current addiBalances June 30, 1967 tions Adjustments Transfers Retirements June 30, 1958 RESERVE FOR EARLY RETIREMENT OF 25-CYCLE POWERPLANT---------. -------------------------------Total fixed assets in service, construction and retirements in progress, facilities held for P ture use and reserve .---------------------------------------------$595,959,366 $7,254,302 ($1,989,620) $43,635 ($3,256,547) $598,011,736 DEFENSE FACILITIES AND SUSPENDED CONSTRUCTION PROJECTS: Defense facilities: Canal defense property -------------------------------------------------------37,624,715------------------------------------(41,485) 37,583,230 Navy reserve ship repair racili ies------------------------------------9,019,491------------------------(43,635)------------8,975,856 Total defense facilities -----------------------------------------------------46,644, 206 ----.-----------------(43,635) (41,485) 46,559,086 Suspended construction projects: 3d set oflocks_----.-------.---------------------------------------------------38,197,203 .---------.---------------------------------38,197,203 Isthmian sea level eanal studies, 1947 --.---------------------------------------4,622,738 ---.-----------------------------------------4,622,738 Total suspended construction projects .-.-----------------------------------42,819,941 --------------------------------------------42,819,941 91 Total defense facilities and suspended construction projects -------------------89,464. 147 ------------------------(43,635) (41, 485) 89,379,027 Z Totals--------------------------------------------------------------------685,423,513 1 7,254,302 (1,989.020) __,-----(,298,032) 687,390,763 See footnote on p. 61. r z r -4

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Allowances for depreciation and economic valuation Net book ('ANAL AND OTHER MARINE FACILITIES: Balances Current deBalances value Lads, titles, and treaty rights: Tune 30,1957 preciation Adjustments Transfers Retirements June 30,1958 June 30,71968 Treaty payments to Republic of Panama, 1904-------------------------------------------------------------------------------------$10,000,000 Depopulation of Canal Zone _-.-.-._------------------------------------------------------.----------------------------------4,fN8,889 Lands owned in fee, Colon, Republioof Panama ---------------------------------------------------------------------------------984,882 0 Total-lands, titles, and treaty-rights.-_--_----------------------------------------------------------------15,713,-771 Z Interest during construction_-------------------------------------$50,892, 311 ------------__---------------------_._. ._. $50,892,311 (tanal excavation, fills, and embankments0 Canal channel, harbors, and basins --------------------------------------------------------.-.--. .-.--.---228,669,342 Dams--__--------------------------------------------------------------------------------------------------------14,999,298 Locks, excavations -----------------------------------------------------------------------------------------------11,613,816 z Breakwaters --------------------------------------------------------------------------------------------------------9,287,095 z Spillways --------------------------------------------------------------------------------------------------1,733,999 Total canal excavations, fills, and embankments ----------------------------------------------------------------------266, 303, 550 Canal structures and equipment: Locks Division -------------------------------------------34,326,818 $1,224,798 ------------$3,608 $2,085 35,557,309 43,698,700 Dredging Division-----------------------------------------6,589,624 356,517 ($655) (694,373) (6Q4,523) 5,646,590 4,824,752 Dams and spillway structures -------------------_-_-------3,405,235 115,573 ---------------------------------3,520,808 6,512,943 Port Captains, Balboa and Cristobal----------------.-4,134,906 182, 714 ------------658,926 (4,901) 4,941,645 2,033,873 Aids to navigation ----------------------------------------1,645,313 78, 356 41 494 46, 378 (14, 764) 1,796,777 1,827,132 Meteorological and Hydrographic Branch------------------------102, 712 6,745 .296-----------169, 753 87. 495 Ferry facilities -------------------------------------------.---. 1, 252, 506 52, 297 --------------------------1,304, 803 643, 400 Industrial Division salvage depot--------------------------------157, 557 11,631 8,413 2,373) 175, 228 75, 258 Engineering Division--------------------------------------19,583 1,980 2,711 (1,964) 22,290 20,908 Total canal structures and equipment.------------. ------------51,634,254 2,030,611 40,839 25,959 (656,460) 53,075,203 59,324,059 Total canal and other marine facilities-----------------------102,526,565 2,030,611 40,839 25,959 (656,460) 103,967,514 341,341,380 OTHER MARITIME FACILITIES: Marine Terminals Division-------------------------------------12,555,830 400,057 -----------(66,571) (119,425) 12,769,891 4,.755,805 Industrial Division --------------------------------------------4,342,190 93,87 -----------(106,699) (504,457) 3,824,909 1,997,942 Hotel Washington -------------------580,120 3,320 -----------(583,440) .-.-.-. Total o her maritime faellit les-----------------------17,478,140 497, 252 -----------(756,710) (623,882) 16,594,800 6,753,747

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Table 8.-Changes in Fixed Assets and Related Allowances for Depreciation and Economic Valuation, Year Ended June 30, 1958-Continued Allowances for depreciation and economic valuation Net book Ous''OlnNn AND GENERAL FACILITIES: Balances Current de. Ralances value Transportation and utilltle: June 80, 1957 preciation Adjustments Transfers Retirements June 30, 1958 June 30, 1958 Panama Railroad -----------------------------------------------$10,286,976 $79,388 _-------------. ($8,573) $10,357,791 $1,374,824 Motor Transportation Division-----------------------------------1,244,080 23, 022 ----------. $1,620 (73,021) 1,407,097 943, 02 Steamship line-----------------------------------------------------86,228,815 107.,830---------------------------(34) 6,396,318 2,763,702 Power system---------------------------------------------------9,410,898 582,190 $118 (40,090) (228,857) 9,724,259 11,174,046 Communication system -------------------------------------------2,042,594 63,547 -----------(6,042) (5, 228) 2.094, 870 781,351 Water system----------------------------------------------------4,693,942 245,226 (1,379) 846 (181,306) 4,757,329 5,765,342 Total transportation and utilities--------------------------------33,907,005 1,373,209 (1,261) (43,666) (497,023) 34,738,264 22,813,167 Employee services and facilities: "1 Commissary Division ---------------------------------------------4,030,644 147,375 10,56 (286,075) (48,359) 3,851,181 2,095,150 Service centers -----------------------------------------------------1 133,086 93,551 (41) 255 (54,739) 1, 172, 112 2, 155, 217 z Housing Division -----------------------------------------------11,766,286 721, 370 13,631 (1,004,016) (581,360) 10,912,911 21, 113, 044 3 Total employee services and facilities -----------------------------16, 930, 016 962, 296 24, 186 (1, 289, 836) (687,458) 15, 939, 204 25, 363, 411 rOther supporting services:r Tivoi Guest House -------------------------------------------------363, 226 11,263 -----48 (3.396) 371, 141 48, 524 Printing plant ------------------------------------------------------224,887 13,142-----------------------(4.155) 233,874 101 588 Grounds maintenance213,802 2,1 75 .--------9,077 240,558 72, 272 Grond mintnace----------------------------------------------21,8 26,51475907 2.18 7222 a Engineering maintenance-----------------------------------------1,742.933 118,742 -----------90,632 (101,708) 1,850,599 1,031,349 a Storehouse Division----------------------------------------------1,784,370 103,869 424 (252,356) (146,357) 1,489,950 1,743,365 -1 Total other supporting services ----------------------------------4,329,308 273,530 499 (161,676) (246,539) 4,195,122 2,997,096 2 General facilities: r Miscellaneous Company buildings.---------------------------------1,815,746 65,564 ----------32,968 (230,980) 1,683,298 1,126,988 Miscellaneous office equipment-Isthmus.---------------------------603,739 50,991 465 (7,085) (2,006) 646,104 414,971 > Miscellaneous office equipment-New York Office -----------------16,921 5,363 -----------(1,033) -----------21,251 31,844 -4 Total general facilities------------------------------------------2,436,406 121,918 465 24,850 (232,986) 2,350,653 1,573,803 -I Totalsupportingandgeneralfacilities---.-.___----7,602,735 2,730,913 23,880 (1, 470,328) (1,664, 006) 57, 223, 243 52,747,477 Total fixed assets in service---------------.-----------------177,607,440 5,258,816 64,728 (2,201,079) (2,944,348) 177,785,517 400,842,604 FAcILITES HELD FOR FUTURE USE.-------------------------------------754,635 3,820 (1,011,805) 2,244,714 (325,864) 1,665,200 1,702,206

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CONSTRUCTION AND RETIREMENTS IN PROGRESS: Construction work----------------------------------------.------------------------------------------------------------12,678,164 z Retirements--------------------------------------------------3,269,547 ---------------------------------68,458 3,338,005 ----------Total construction and retirements In progress---------------------3,269,547 -----------------------------68, 453 3,338,005 12,678,164 RESERVE FOR EARLY RETIREMENT OF 25-CYCLE POWERPLANT -------------2,828,317 ---------------------------------(54, 793) 2, 773, 524 (2. 773, 524) Total fixed assets in service, construction and retirements in progress, facilities held for future use and reserve-----------------------184,459,939 5,262,336 (947,077) 43,635 (3,256,547) 185,562,286 412,449,450 > DEFENSE FACILITIES AND SUSPENDED CONsTRUCTION PROJECTS: Defense facilities: Canal defense property---------.-----.----------------------37,624,715 ----------------------------------(41,485) 37,583,230---------Navy reserve ship repair facilities------------------------------9,019,491 ----------------------(43,635) --_.-_ 8,975,856---------Total defense facilities ------------------------------------46,644,206 ----------------------(43,635) (41,485) 46,559,086-------------< Suspended construction projects: 3d set of locks--_--_---------------------.------------------------38,197,203 -------------------------------------------38,197,203 Isthmian sea level canal studies, 1947-----------------------------4,622,738 -------------------------------------------4.622, 738 Total suspended construction projects-----------------------42,819,941 -------------------------------------------42,819,941 Total defense facilities and suspended construction projects-------89,464,147 ----------------------(43,635) (41,485) 89,379,027 Totals -----------------------------------------------273,924.086 25,262,336 (947,077) -----------(3,298,032) 274,941,313 412,449,450 I Current expenditures --------------------------------------$7, 476, 130 2 Distribution of depreciation: Removal cost, plant retirements--------------------------------88,580 Canal operations (table 4)---_------------------------------$2,030.610 Supporting services operations (table 5) -__-____--3,109,524 Total----------------------------------------------7,564,710 Administrative and general expenses (table 6)-------------------122,202 Less salvage credits from plant retirements ------------------------310, 408 Total operations---------------_----------__ _5, 262,336 Net-----------------------------------------------7,254,302 The accompanying "Notes Pertaining to Financial Statements" are an integral part of this statement.

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62 FINANCIAL REPORT AND STATISTICAL DATA Table 9.-Comparative Statement of Financial Condition, June 30, 1958, and June 30, 1957 Assets CURRENT ASSETS: June 30, 1958 June 30, 1957 Fund balances with U.S. Treasury and cash --$31, 354, 539 $29, 563, 328 Notes receivable -------------------------1,069, 500 1,069, 500 Accounts receivable ----------------------3, 311, 545 3,951, 913 Inventories ------------------------------., 904, 791 7, 928, 134 Other-----------------------------------201,339 193,325 Total current assets--------------------43, 841, 714 42, 706, 200 LONG-TERM NOTES RECEIVABLE -------------2, 139, 000 3, 208, 500 FIXED ASSETS _.-.--------------------------------598, 198, 791 595, 959, 366 Less allowances for depreciation -----------185, 562, 286 184, 459, 939 Fixed assets, net-----------------------412,636,505 411,499,427 DEFERRED CHARGES AND OTHER ASSETS -------4, 044, 907 4, 148, 849 462, 662, 126 461,562, 976 Liabilities and equity CURRENT LIABILITIES: Due U.S. Treasury ----------------------2, 391, 137 3,675,069 Other accounts payable -------------------3, 705, 091 3, 559, 064 Accrued liabilities -----------------------9, 297, 106 8, 061, 388 Other.---------------------. .---.-------660,179 612,828 Total current liabilities-----------------16, 053, 513 15, 908, 349 RESERVES: Periodic overhaul of canal locks.------------1, 448, 531 3, 204, 278 Noncapital power conversion costs---------4, 000, 000 -.-.-.-. Total reserves--------------------------5,448,531 3, 204, 278 EQUITY OF U.S. GOVERNMENT: Net direct investment--------------------351, 861, 652 356, 885, 966 Retained revenue ------------------------88, 548, 430 85, 564, 383 Panama Canal bridge ---------------------. .750, 000 ---Total equity--------------------------441, 160, 082 442, 450, 349 462, 662, 126 461, 562, 976

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PANAMA CANAL COMPANY 63 Table 10.-Comparative Statement of Revenue and Expenses, Fiscal Years Ended June 30, 1958 and 1957 Fiscal year ended June 30 REVENUE: 1968 1957 Tolls from commercial vessels -------------$41, 843, 525 $38, 513, 404 Tolls credits from U.S. Government vessels.990, 481 1, 140, 116 Other services to shipping-----------------10, 054, 108 11, 120, 978 Sales of goods and services ---------------30, 222, 495 35, 830, 557 83, 110, 609 86, 605,055 OPERATING EXPENSES AND DEDUCTIONS: Payroll and related costs-----------------38, 399, 717 37, 511, 021 Material and other ----------------------3,498,469 3, 233, 909 Cost of goods sold -----------------------13, 347, 951 17, 262, 958 Depreciation---------------.-----------5, 262, 336 5, 342, 265 Reimbursement of annuity payments to Republic of Panama-------------------430,000 430,000 Net cost of Canal Zone Government --------10, 737, 194 10, 135, 514 Interest paid to U.S. Treasury ------------8, 778, 560 8, 867, 932 80,454,227 82,783,599 NET REVENUE---.------------------------------2, 656, 382 3, 821, 456 Table 11.-Statement of Changes in Equity of the U.S. Government, Fiscal Year Ended June 30, 1958 Panama Net direct investment Retained revenue Canal bridge EQUITY AT JULY 1, 1957-----------$356, 885, 966 $85, 564, 383 --Add: Net revenue for the year ----.-----------2,656,382 Excess of market over book value of properties transferred to Republic of Panama under 1955 treaty: Panama Canal Company properties.---------------------3, 955, 125 Canal Zone Government properties_-----------------------372, 540 -------Appropriation for preliminary plans of Panama Canal bridge---------------------------------------$750, 000 356, 885, 966 92,548,430 750, 000 Deduct: Market value of company properties transferred to Republic of Panama under 1955 treaty-------------4,820,000 -----------------Provision for noncapital power conversion costs ---------------------4,000,000 ------Property transfers, other U.S. Government agencies, net-. 204, 314 --------------5, 024, 314 4, 000, 000 ---EQUITY AT JUNE 30, 1958.-----------351, 861, 652 88, 548, 430 750, 000

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64 FINANCIAL REPORT AND STATISTICAL DATA Table 12.-Ocean Traffic Through Panama Canal, Fiscal Years 1948 Through 1958 Traffic assessed tolls Traffic assessed tolls on displacement Total traffic on net tonnage basis tonnage basis Number Number Panama Number Displace of Tons of of Canal net of ment transits Tolls cargo transits tonnage tronsits tonnage Commercial oceon traffic 1948---------------------4,678 $19,956,593 24,117,788 4,664 22,902,064 14 58,398 1949.---------------------4,793 20, 541, 230 25, 305, 158 4,771 23, 473, 236 22 110, 584 1950---------------------5,448 24.430,206 28,872,293 5,439 28,013,236 9 12,807 1951-------------------5,593 23, 906, 082 30, 073, 022 5, 572 27, 180, 425 21 54, 639 1952---------------------6,524 26,922,532 33,610,509 6,500 30,674,302 24 107,732 1953.---------------------7,410 31,917,515 36,095,349 7,392 36,678,636 is 77,68 1954---------------------7,784 33,247,864 39,095,067 7,758 38,027,812 26 130,810 1955 -----------------------7,997 33.849,477 40,646,301 7,953 38,567. 769 44 136, 9t7 1956---------------------8,209 36,153,842 45,119,042 8,157 41,202,961 52 126,233 19057---------------------8,579 38,444,128 49,702,200 8,540 43,628,210 39 155,055 1958.---------------------9,187 41, 795, 905 48, 124, 809 9,162 47, 924, 345 25 78, 691 Government ocean traffic 1948.-----------------------508 1, 755, 134 1,520,5%9 305 1, 551, 293 203 857, 077 1949 -------------------.658 2,405,519 2,217,495 440 2,397,903 218 688, 311 1950 -----------------------443 1,918,785 1,429,283 355 2,095,270 88 281, 542 1951 -----------------------693 2,764,747 1,165,986 559 3,056, 354 134 633, 799 1952 -----------------------774 3,383,900 3,237,311 659 3,665, 302 115 521, 625 1953 ---------------------1,064 5,526,038 5,049,922 986 6,146,333 78 562, 186 1954 -----------------------800 3,862,015 2,708,380 699 4,254,839 101 570, 506 1955 -----------------------296 1,190,367 838, 305 227 1,184,135 69 341,199 1956 -----------------------266 1,215,883 1,150,121 219 1,286, 841 47 226,813 1957 ----------------------269 1,117,467 922,173 199 1,086,564 70 392,671 1958----------------------279 972, 110 791, 310 224 1, 020,267 55 219, 938 Total ocean traffic 1948 ---------------------5,186 21,711,727 25, 638, 357 4,969 24, 453, 357 217 915, 475 1949--------------------5,451 22, 946,749 27,522,653 5,211 25.871,139 240 798,895 1950---------------------5,891 26,348,991 30,301,576 5,794 30,108,506 97 294,349 1951 .---------------------6,286 26,1670,829 31,239,008 6,131 39, 236, 779 155 688, 438 1952 ..---------------------7,298 30,3-6,432 36,847,820 7,159 34,339,604 139 629.357 1953----.-----------------8,474 37,443,553 41,145,271 8,378 42,824,969 96 639,824 1954---------------------8,584 37, 109, 879 41, 813, 447 8,457 42, 282, 651 127 701, 316 1955.---------------------8,293 35,039,844 41,484,606 8,180 39,751,904 113 478,186 1956---------------------8,475 37,369,725 46,269,163 8,376 42,489,802 99 353.046 1957---------------------8,848 39, 561, 595 50, 624, 373 8, 739 44, 714, 774 109 547, 726 1958---------------------9,466 42,768,015 48,916,119 9,386 48,944,612 80 298,629 NOTE.-Tolls were not assessed against U.S. Government traffic prior to fiscal year 1952. Tolls indicated for such traffic for fOscal years 1948 through 1951 are statistical figures which show tolls value for this traffic at the prescribed rates.

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PANAMA CANAL COMPANY 65 Table 13.-Traffic by Months, Fiscal Years 1957 and 1953 Number of Panama Canal net transmits tonnage Tons of carga Tolls 1957-58 1956-57 1957-58 1956-57 _1957-58 1956-57 1957-68 1966-57 July -----------788 669 4,223,721 3,478,317 4,441,267 3,871,143 $3, 668,461 $3, 053,909 August --------812 653 4,129, 989 3, 274, 098 4, 334, 306 3, 576, 284 3, 598, 726 2, 888, 019 September .771 646 4,042, 303 3,259,743 3.934,700 3,558,799 3,503,564 2, 861,467 October--------813 699 4,236,814 3,510,842 4,304,833 3,877,761 3,679,870 3,083,296 November 779 654 4,056,520 3,258,887 3,994,320 3,743,298 3,522,149 2,876,098 December -774 751 4,038,677 3,879,894 4,057,864 4,607,944 3,520,572 3,419,669 January-------744 701 3,872,180 3,567,745 3,735,448 4,252,657 3,376,306 3,161,163 February 700 673 3,541,049 3,412,139 3,420,104 3,896,981 3,103,608 3,032,647 March ----------810 808 4,150,335 4,085,860 4,055,216 4, 812.784 3,627, 699 3,602,541 April -----------734 767 3,837,402 3, 899,870 3,863,386 4,397,018 3,363,321 3,429,625 May -----------752 783 4,022,827 4,038,927 4,072,316 4, 585,965 3,526, 528 3, 551,340 June------------710 775 3, 772, 528 3, 961, 888 3, 911, 049 4, 521. 566 3, 305, 101 3, 484, 354 Total -.9,187 8,579 47, 924,345 43,628,210 48,124,809 49, 702, 200 41, 795,905 38,444,128 Average per month -------766 715 3,993,695 3,635,684 4,010,401 4,141,850 3,482,992 3,203,677 NOTE.-The above includes only commercial vessels of 300 tons and over, Panama Canal measurement, or of 500 displacement tons and over on vessels paying tolls on displacement tonnage basis.

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66 FINANCIAL REPORT AND STATISTICAL DATA Table 14.-Canal Traffic I by Nationality of Vessels Measured tonnage Registered Number of Panama Tons of Nationality tronaits Canal net Gross Net To1 cargo Argentine-------------------------1 5,341 7,625 4,583 $4,807 9,055 Belgian.---------------------------. 4 13,958 17,729 13,209 11,306 13,222 Brazilian.-------------------------2 1,060 3,376 --.---763 --.--. British-.-------------------------1,203 7,454,501 9,841,461 5,717,737 6,691,490 7,370,112 Chilean ---------------------------89 490, 976 718, 223 414, 956 440, 914 507, 441 Chinese.---------------------------54 245,415 340,085 208,918 218,469 406,575 Colombian .-----------------------231 679,716 823,853 452, 33 608,817 330,448 Costa Rican---------------------8 27,893 39,129 23, 863 25,104 51,343 Cuban -------------------------2 (2) (2) (2) 1,890 Danish -------------------------356 1,615,527 1,858,702 1,036,286 1,413,402 1,112,939 Dominican Republic-------------1 838 2.323 1,187 603 ._-.Ecuadoran------------------------38 113,2S5 144,399 80,022 100,897 46,511 Finnish ---------------------------30 125,314 134,703 72,195 111,801 125,834 French.---------------------------85 527,589 654,901 373,460 475,106 443,401 German --------------------------837 3,370,445 3,810,702 1,859,843 2,915,471 2,537,505 Greek. .---------------------------116 630,088 851,786 494,760 549,570 1,051,394 Honduran ----------------------278 587,920 932,826 534,070 486,483 298,564 Irish-----------------------------1 5,994 6,218 3,303 5,395 8,658 Italian---------------------------191 1,139,772 1,470,810 874,988 1,004,213 1,109,176 Japanese-. ------------------------693 3,929,041 5,410,417 3,161,690 3,510,096 4,629,438 Korean (South)--------------------2 7,988 11,546 7,159 6,228 4,806 Liberian .-------------------------898 5,633,036 7,705,285 4,602,586 4,744,043 7,802,371 Mexican_-------------------------1 6,985 9,313 5,364 6,286 12,149 Netherlands----------------------206 1,047,290 1,523,579 873,029 911,911 899,738 Nicaraguan--------------.---.---81 201,178 216,788 108,222 180,620 141,211 Norwegian---------------------.-956 4,845,380 6,128,804 3,590,818 4,160,761 4,456,990 Panamanian----------------------472 2,011, 759 2,695, 175 1,616, 712 1,674,720 2,152,332 Peruvian-------------------------54 154,083 214,400 127.728 140,387 226,350 Philippies. .---------------------.-. 23 130,580 149,283 88,744 117,522 122,770 Spanish .--.-----43 181,016 247,735 164,559 153,319 180,709 Soviet (U.S.S.R.)----------------. 3 15,198 18,697 10,189 13,678 21,850 Swedish--------------------------200 1,024,867 1,246,222 739,039 906,914 748,142 Switzerland----------------------3 18,675 17,181 9,620 16,808 28,779 United States.-----.---------------2,023 11,672,797 15,313,156 9,034.419 10,278,951 11,267,630 Venezuelan--------------------2 8,840 17,382 10,986 7,160 7,416 Total: Fiscal year 1958.---------9,187 47,924,345 2,582,813 36, 316, 007 41,795,905 48,124,800 Fiscal year 1957---------8, 579 43, 628, 210 56, 915, 104 33, 205, 307 38, 444, 128 49, 702,200 Fiscal year 1956---------8,209 41,202,961 53,662,232 31,712,906 36,153,842 45,119,042 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.). 2 Displacement tonnage. 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 600 tons and over are classified as oceangoing commercial vessels. Statistics on these vessels, except such as pertain to displacement tonnage, have been included in the traffic summaries shown in the preceding table. The following table presents by nationality statistics on the 25 vessels which transited the canal during the fiscal year 1958 and paid tolls on displacement tonnage. DisplaceNumberof ment Nationality Type trOnsits tonnage Tolls British ----------------------------Naval.-------------7 20,247 $10,124 Chilean --------------------------------do.-------------2 23,495 11,748 Cuban-.------------------------Frigate --------------2 3,780 1,890 French -----------------------------Naval----------------1 2,421 1,210 Liberian-------------------------Dredge-------------1 1,900 950 Netherlands -------------------------Naval ---------------4 8,962 4,481 Peruvian ..---------------------------.----do.------------3 4,852 2,426 Spanish.----------------------------------do.--------------4 8,950 4,475 Swedish -.--------------------------------do---------------1 4,084 2,042 Total ----------------------------------------------25 78,691 39.346

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Table 15.-Classification of Canal Traffic' by Type of Vessel-Fiscal Year 1958 Vessels of U.S. registry Vessels offoreigss registry Total traffic CasoAD anoP ~s G EBW :Alantic Pocipc to Atlantic to Pacific to Allonlic to Pacific to CARGO AND CARno/PAOENOER SHIPS: tl t Pacific t Atlantic tota Pacific t Atlantic toia Pacific t Tank ships, laden: Ia Pacifi Atlantic Total Pacifc Atlantic Total Pacifi Atlantic Total Number of transits------------------------------67 49 116 340 39 379 407 88 495 Panama Canal net tonnage----------------------549,150 438,231 987,381 2,632,396 240,333 2,872,729 3,181,546 678,564 3,860,110 Tolls------------------------------------------$494,235 $394,408 $888,643 $2,369,156 $216,300 $2,585,456 $2,863,391 $610,708 $3,474,099 z Cargo (long tons)-------------------------------959,851 658, 951 1,618,802 4,953, 557 384, 066 5,337,623 5,913,408 1,043,017 6,956, 425 rTank ships, ballast: Number of transits.------.---------. ---------8 31 39 23 333 356 31 364 395 o Panama Canal net tonnage--------.------------88,415 245,870 334,285 163,409 2,722,331 2,885,740 251.824 2,968,201 3,220,025 E Tolls-------------------------------------------$63,659 $177,026 $240,685 $117,655 $1,960,078 $2,077,733 $181,314 $2,137,104 $2,318,418 Ore ships, laden: Number of transits----------------------------------------41 41 1 136 137 1 177 178 Z Panama Canal net tonnage--------------------------------179,515 179.515 3,915 964,417 968,332 3,915 1,143,932 1,147,847 '< Tolls----------------------------------------------------$161.564 $161, 564 $3,524 $867,975 $871,499 $3,524 $1,029,539 $1,033,063 Cargo (long tons)----------------------------------------963,850 963,850 10 3,162,165 3,162,175 10 4,126,015 4,126,025 Ore ships, ballast: Number of transits-------------------------41 --.--41 128 1 129 169 1 170 Panama Canal net tonnage-.-------------------179,500 ---------179,500 832,121 4.456 836,577 1,611,621 4,456 1,016,077 Tolls ------------------------------------$129,240 ---------$129,240 $599,127 $3,208 $602,335 $728,367 $3,208 $731, 575 Passenger ships, laden: 2 Number of transits-----------------------------58 52 110 110 108 218 168 160 328 Panama Canal net tonnage---------------------377,021 327,808 704,829 878,050 883.243 1,761,293 1,255,071 1,211,051 2,466,122 Tolls------------------------------------------$339,319 $295,027 $634,346 $790,245 $794,919 $1,585,164 $1,129,564 $1,089.946 $2,219,510 Cargo (long tons) ---------------------------144, 866 316, 586 461, 452 356, 175 532, 510 888, 685 501, 041 849, 096 1, 350, 137 Passenger shIps, ballast: 2 Numberoftransits--.-------------------------------------------------2 1 3 2 1 3 Panama Canal net tonnage----------------------------------------------12,939 5,976 18,915 12,939 5,976 18,915 Tolls---------------------------------------------------------------9,316 $4,302 $13,618 $9,316 $4,302 $13,618 General cargo ships, laden: 3 Number of transits -----------------------------646 830 1,476 2,319 2,732 5,051 2,965 3,562 6,527 Panama Canal net tonnage.-.----.--------------3,918,641 4,606,519 8,525, 160 11,866,912 12, 393, 839 24, 260, 751 15, 785. 553 17, 000,358 32, 785, 911 Tolls---------------------------------$3,526,777 $4.145,867 $7,672,644 $10,680,221 $11,154,455 $21,834,676 $14,206,998 $15.300,322 $29,507,320 Cargo (long tons)-----.----.---------------3,598,830 4,620,523 8,219, 353 12,828,946 14, 639, 628 27, 468,574 16,427,776 19, 260,151 35, 687, 927 General cargo ships, ballast: 3 Number of transits-----------------------------158 23 181 670 185 855 828 208 1,036 Panama Canal net tonnage-------------------612, 875 128. 568 741, 443 1,845,213 784, 957 2,630,170 2,458, 088 913.525 3,371,613 Tolls -----------------------------------$441,270 $92,569 $533,839 $1,328,553 $565,169 $1,893,722 $1,769,823 $657,738 $2,427,561 See footnotes at end of table. 4s

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Table 15-Classification of Canal Traffic I by Type of Vessel-Fiscal Year 1958-Continued Vessels of U.S. registry Vessels foreign registry Total traffic Atlantic Pacific to Atlantic to Pacific to Atlantic to Pacific to OTHER TvEsips: to Pacific Atlantic Total Pacific Atlantic Total Pacific Atlantic Total Number of transits---------------------------------------------13 12 25 13 12 25 Displacement tonnage -----_ .---------------------------------------------39,916 38,775 78,691 39.916 38,775 78,691 Tolls.--------------------------------------------------------------$19,958 $19,388 $39,346 $19,958 $19,388 $39,346 Cargo (long tons)---------------------------------------------------------12 110 122 12 110 122 Cable ships, yachts, etc.: Number of transits------------------------------10 9 19 5 6 11 15 15 30 Pa rna Canal net tonnage --------------------13, 665 7,019 20, 684 8,095 8,946 17, 041 21,760 15,965 37, 725 Tolls----------------------------------$11,758 $6, 232 $17,990 $6, 964 $6,441 $13, 405 $18, 722 $12, 673 $31, 395 Cargo (long tons)-----------------------------1,054 3,119 4,173 ----------------------------------1,054 3,119 4,173 SUMMARY: Total cargo and cargo/passenger ships, laden: Number of transits -----------------------------771 972 1, 743 2, 770 3, 015 5, 785 3, 141 3, 987 7, 528 Panama Canal net tonnage -------------------4,844,812 5, 552, 073 10,396,885 15, 381, 273 14, 481, 832 29,863,105 20. 226, 085 20,033, 905 40, 259, 990 Tolls ----------------------------------$4, 360, 331 $4, 996, 866 $9, 357, 197 $13,843,146 $13,033,649 $26, 876, 795 $18, 203,477 $18, 030,515 $36, 233, 992 Cargo (long tons) -------------------------4,703,547 6,559,910 11,263,457 18,138,688 18,718,369 36, 857, 057 22, 842, 235 25, 278, 279 48, 120,514 Total cargo and cargo/passenger ships, ballast: Number of transits -----------------------------207 54 261 823 520 1,343 1,030 574 1,604 Parna Canal net tonnage -------------------880, 790 374,438 1,255.228 2, 682 3,517,720 6,371402 3, 734, 472 3,892,158 7,628,630 Tolls----------------------------------------$634, 169 $269, 595 $903, 764 $2, 054, 651 $2, 532, 787 $4, 187, 408 $2, 888,820 $2, 802, 352 $5, 491,172 91 Total other types ships: z Number of transits-----------------------------10 9 19 18 18 36 28 27 55 z Panama Canal net tonnage --------------------13,665 7,019 20,684 8,095 8,946 17,041 21,760 15,965 37,725 5 Displacement tonnage -----------------------------------------------------39,916 38,775 78,691 39,916 38,775 78,691 n Tolls -------------------------------------$11, 758 $6, 232 $17, 990 $26, 922 $25, 829 $52, 751 $38, 680 $32, 061 $70, 741 Cargo (long tons)-----------------------------1,054 3,119 4,173 12 110 122 1,066 3,229 4,295 r Grand total ships: Number of transits----------------------------988 1,035 2,023 3,611 3,553 7,164 4,599 4,588 9, 187 Panama Canal net tonnage -----------------,739,267 5,933,530 11,672,797 18,243,050 18,008,498 36,251,548 23,982,317 23,942,028 47,924,345 Displacement tonnage -------------------------------------------------------39,916 38,775 78,691 39,916 38,775 78,691 0 Tolls -----------------------------------$5, 006, 258 $5,272,693 $10 278,951 $15, 924, 719 $15,592,235 $31, 516, 954 $20, 930, 977 $20, 864, 928 $41, 795, 905 M Cargo (long tons)-------------------------4,704,601 6,563,029 11,267,630 18,138,700 18,718,479 36,857, 179 22,843,301 25,281,508 48,124,809 -4 t Includes only commercial vessels of 300 net tons and over (Panama Canal measurement) for vessels paying tolls on net tonnage basis, or of 500 displacement tons and over z for vessels paying on displacement tonnage. 0 2 Vessels certificated for more than 12 passengers. to Vessels certibcated for 12 passengers or less, or without passenger accommodations.

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PANAMA CANAL COMPANY 69 Table 16.-Laden and Ballast Traffic by Nationality of Vessels, Fiscal Year 1958 Laden Ballast Panama Panama Number Canal net Number Canal net Naionality of transits tonnage Tolls of transits tonnage Tolls Argentine----------------------1 5,341 $4,807 .. Belgian -------------------------2 6,979 6,281 2 6,979 $5, 025 Brazilian. -------------------------------------------.----2 1,060 763 British -------------------------1,052 6,745,143 6,070,629 144 709,358 510,738 Chilean -------------------------78 420, 352 378, 317 9 70, 624 50, 849 Chinese. -------------------------53 232,058 208,852 1 13,357 9,617 Colombian ----------------------222 663,450 597, 105 9 16,266 11, 712 Costa Rican. --------------------8 27,893 25,104 Danish -------------------------297 1, 390, 127 1,251,114 59 225,400 162,288 Dominican Republic ---------------------------------------1 838 603 Ecuadoran ----------------------36 107,399 96,659 2 5,886 4,238 Finnish ------------------------29 119,859 107, 873 1 5, 455 3, 928 French -------------------------83 522, 394 470, 155 1 5, 195 3, 740 German ------------------------656 2,715,282 2,443,754 181 655, 163 471, 717 Greek ---------------------------97 532, 814 479, 533 19 97, 274 70, 037 Honduran ----------------------156 351,004 315,904 122 236,916 170,580 Irish ----------------------------1 5,994 5,395 ... Italian --------------------------169 1,019,875 917,887 22 119, 897 86, 326 Japanese ------------------------659 3, 784, 369 3, 405, 932 34 144, 672 104, 164 Korean (South) -----------------1 2,648 2,383 1 5,340 3,845 Liberian_ ------------------------637 3,818,373 3,436, 536 260 1,814, 603 1,306,557 Mexican ------------------------1 6,985 6,286 .. Netherlands --------------------160 852,119 766,907 42 195, 171 140, 523 Nicaraguan ---------------------80 198,733 178, 860 1 2, 445 1, 760 Norwegian ----------------------726 3, 733, 819 3,360.437 230 1,111,561 800, 324 Panamanian --------------------306 1,256,964 1,131,268 166 754,795 543,452 Peruvian. -----------------------48 150,117 135,105 3 3.966 2,856 Philippines ---------------------23 130,580 117,522 .--. Spanish -------------------------22 102,848 92,563 17 78, 168 56, 281 Soviet (U.S.S.R.) ---------------3 15,198 13,678 Swedish ------------------------177 927,600 834,840 22 97,267 70,032 Switzerland ---------------------3 18,675 16,807 United States.-------------------1,759 10,414,005 9,372,685 264 1,258,702 906,266 Venezuela---------------------. 1 4,420 3,978 1 4,420 3,182 Total: Fiscal year 1958 7,546 40,283, 507 36,255,156 1,616 7,640,838 5,501,403 Fiscal year 1957 7,332 33,634,942 34,771,448 1,208 4,993,268 3,595, 153 Fiscal year 1956 6, 904 35, 692, 184 32, 122, 966 1, 253 5, 510, 777 3, 967, 759 NOTE.-Above table involves only commercial vessels of 300 net tons or over, Panama Canal measurement.

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70 FINANCIAL REPORT AND STATISTICAL DATA Table 17.-Frequency of Transits of [Number of vessels making Nationality 1 2 8 4 5 6 7 8 9 10 11 12 I 14 15 16 17 18 19 20 21 Argentine---------1 .... Belgium.------------2 Brazilian.----------2 British----------198 120 72 41 19 13 8 1 1 1 1 ----1 1. Chilean-----------4 2 --1 .2 3 1-1 2 Chinese ------------6 3 -. 1 2 31 Colombian.--------5 2 1 ---.--1. 1 1 1 .1 3 1 1 1 2 2. CostaRican --------4 2 Cuban ---------------1 Danish ------------18 20 9 6 8 3 1 2 1 Dominican 1 --............ Republic. Ecuadoran--------1 2 _-1-._ -.1Finnish ------------3 2 1 2 .2 French -----------4 8 6 1 2 2 3 German----------21 51 12 17 5 10 10 9 1 1 2 2 51 Greek -------------28 16 7 1 1 1 1 Honduran--------5 3 2 3 .-3 2 2 3 1 1 1 2 1 Irish ---------------1 Italian-----------27 14 7 3 2 4 1 2 4 1 Japanese -----------57 47 30 33 18 31 4 2. .... Korean (South). 2 Liberian ----------119 80 26 21 4 7 3 3 5 2 1 --1 2 6 1 Mexican ----------1 Netherlands ------29 16 5 11 1 3 3 1 1 2 Nicaraguan ---.-1 --. .3. ... Norwegian ---------67 67 29 18 14 13 9 11 2 2 1 1 .3 1 .1 6 Panamanian .38 30 10 6 1 5 1 1 1 2 .1 Peruvian ---------3 3 1 2 2 1 -2 Philippine ---------------3 1 1 Spanish ----------6 7 -3 1 1 Soviet (U.S.S.R.)-3 Swedish-------14 14 9 3 7 7 Switzerland. 3 United States -----71 63 47 30 27 27 12 18 6 15 10 2 3 8 2 3 6 3 -2 Venezuelan---------2 ---.--.--.-.-.-.-.-.-. .. Total 1958------742 577 265 213 111 140 67 51 25 33 15 14 4 16 7 16 10 24 4 8 1 Total 1957------873 599 223 207 136 128 47 39 26 40 13 16 8 17 4 10 8 7 2 11 4 Total1956------657 526 263 186 124 124 41 39 25 28 19 19 4 18 4 4 7 13 4 4 6 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.).

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PANAMA CANAL COMPANY 71 Vessels Through Panama Canal indicated number of transits] Total Total Transits 22 28 24 25 26 27 28 29 80 31 82 33 84 85 36 88 89 40 41 42 43 45 48 49 50 52 54 ships transit per ship -------------------.--.-1 1 1.00 ------------..2 4 2.00 2 2 1.00 1--------..-----480 1,203 2.51 --.---------.16 89 5.56 -------------16 54 3.38 ..-------.--.---------.23 231 10.04 ---------.-.--.-6 8 1.33 -------------------------1 2 2.00 -------------.-------.79 356 4.50 ------.---------.1 1 1.00 ----..6 38 6.33 ------------10 30 3.00 ---26 85 3.27 111 21-------------------1--------------154 837 5.44 ---.-----55 116 2.11 -1------------1 .31 278 8.97 -----1 1 1.00 ---65 191 2.94 --222 693 3.12 2 2 1.00 285 898 3.15 -1 1.00 ----72 206 2.86 --6 81 13.50 1 --------------247 956 3.87 1 2 1--.----------103 472 4.58 14 54 3.86 5 23 4.60 ------18 43 2.39 ---3 3 1.00 56 200 3.64 3 3 1.00 2 2 2 .-----------------365 2,023 5.54 2 2 1.Co 5 2 6 4 3 1 2 1 1 3 2 1 -1 -.-_ 2 -.-1 .2,378 9,187 3.86 6 1 -2 2 1 1 1 2 -1 2 -1 2 1 --. 1 -2 .1 -I -2,444 8,579 3.51 7 3 5 4 2 -1 .1 1 --3 3 .1 1 ...1 --1 2,150 8,209 3.82

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Table 18.--Segregation of Transits I by Registered Gross Tonnage-Fiscal Year 1958 Registered Average gross tonUnder 2,000 to 4,000 to 6,000 to 8,000 to 10,000 to 12,000 to 14,000 10 16,000 to 18,000 gross nage pe~r vessel Nationality 2,000 3,999 b,999 7,999 9,999 11,999 13,999 15,999 17,999 and over Total 2 tonnage '1958 1957 Argentine.--.-------------------------.----------I -----------------------------------------1 7,625 7,625 11,540 Belgian -------------------------2 ---------.------2 ------------------------------------------4 17,729 4,432 4,321 Brazilian.----------------.--.2---------------------------------------------------2 3,376 1,688 7,874 British.-------------------.-83 34 83 38 22 125 47 19 44 31 1,196 9,841,461 8,228 8,252 Chilean.--------.--.--. .-1 14 1 6 51 14 ----------.-----.-----------87 718,223 8,255 7,679 Chinese ----------------_---.---.---20 -------. 32 ---.-. .------.--------------------2 54 340,085 6,298 6,382 Colombian.----------.----59 85 87 ---.---_ --------------.------------------------.-231 823,853 3,566 3,261 Costa Rican .---------. .-3 -.--.---.5 .-.-.--. ------.-------.-.-------8 39,129 4,891 5,344 Danish -----_-----------------. 21 103 119 63 44 6 ----------------------------356 1,858,702 5,221 5,050 Dominican Republic --.--.-----------.--I --------------_ -------------------------------.---1 2,323 2,323 961 Ecuadoran .----..-.--.-2 35 ---.-.1 .-.-.-.-.-.-.-.-.--.--.--.----------38 144,399 3,800 3,844 Finnish. .-.-...---.---.-.-10 19 1 -------------------.----.-----------.-----30 134,703 4,400 5,216 French.-----------------------.---.------. 18 35 20 -------11 ---------.--.---84 654,901 7,796 7,854 German.---------.-------33 501 159 57 39 2 -------14 32 -------837 3,810,702 4,553 4,453 Greek.---.------.-.--.--.---.-. --.---3 94 15 4 ----------------------------116 851,786 7,343 6,985 Honduran. ---.----. ----.-99 98 58 23 .--.--. --.--. ...--.--. --.------------278 932,826 3,355 3,044 Irish -----.-----.-.---.---.-.-----_.----.--1 .-----------------------------------.---1 6,218 6,218 5,728 '1 Italian.---------------------.5 5 2 93 78 7 1 ---' ---. --------------191 1,470,810 7,701 7,467 Japanese -. ------. ...-.--15 -.-8 380 279 9 2 ----.----.---__--.693 5,410,417 7,807 7 ,709 K orean (South) -.---. --. ----. .------1 --------1 -------.-. ----------.---------.----2 11,545 5,773 4,569 Z Liberian.----------.-----------_ 96 7 7 362 80 240 48 5 31 21 897 7,705,285 8,590 7,841 0 M exican ---------.---..-------.----.--1 ---.---. -------.---------.---1 9,313 9,313 3,914 Netherlands.--------------------22 31 6 59 29 30 17 -------_ -----8 202 1,523,579 7,542 7,065 N icaraguan. -----------.----_ 81 --------------------------. 81 215,788 2,664 2,565 Norwegian.---.-.-.-75 221 157 164 201 105 13 2 3 15 956 6,128,804 6,411 6,705 Panamanian -------.-----.-.---. 188 40 24 119 8 43 4 1 38 7 472 2,695,175 5,498 5,222 "o Peruvian .-._. --------.--.2 36 7 6 ----..--.-.---.------.---51 214,400 4,204 4,275 0 Philippine..--.--.--. -.-. ----____. -10 13 -------------.--------------23 149,283 6,491 6,760 Soviet (U .S.S.R .) .-------------.---2 1 ---.-----.---------------3 18,697 6,232 3,747 Spanish_.--.-.--. -------.---. 6 9 20 2 2 .-.-------.-------.39 247,735 6,352 5,402 > Swedish.-----. ------. -----38 28 119 6 4 ------_ I ---.---3 199 1,246,222 6,262 5,994 Z Switzerland --_-----.---._ -. ---2 1 ------.----------.-------.-.-. 3 17,181 5,727 5,901 a T urkish __.---_-.-.--.--. .---.--.--------.--..-------___--.-._.-------.-----.9,184 in United States ------.----------51 2 193 1,005 624 109 23 .--.-9 7 2,023 15,313,156 7,570 7,537 -1 V enezuelan .----------_----. -----------------2 --------.-.-.--.---.-----.-..-.-2 17,382 8,691 8,691 30 Y ugoslav. .-----.-.--.-.--.-.----.--..-.-.-.-.----_--.------__.------------------.-----------------------------7,307 Total (1958)---------------759 1,369 1,102 3,002 1,771 700 166 42 157 94 9,162 62,582,813 6,831 6,665 -1 Percent of total -----------------8.3 14.9 12.0 32.8 19.3 7.7 1.8 0.5 1.7 1,0 100,0 ----------------------.-0) I Includes only commercial vessels of 300 net tons and over, Panama Carnal mneasuremeqt. 5 vessels paying tolls on displacement tonnage are not included,

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PANAMA CANAL COMPANY 73 Table 19.-Principal Commodities Shipped Through Canal [Thousands of long tons) Commodity Fiscal year ATLANTIC TO PACIFIC 1958 1961 1956 1966 Petroleum and products' ---------------5, 964 5, 242 5, 310 4,306 Coal and coke-------------------------3,849 3,805 2,996 3,274 Iron and steel manufactures ------------1, 922 2,835 2, 131 1, 792 Phosphates---------------------------1, 257 1,523 1,257 1,043 Soybeans ----------------------------814 698 746 5G8 Sugar-----------------------------654 896 787 520 Ores, various------------------------561 612 317 187 Metal, scrap--------------------------532 1, 497 498 23 Chemicals, unclassified-----------------482 316 271 233 Cotton, raw------------------_-------354 402 212 226 Paper and paper products--------------353 463 433 377 Metals, various------------------------341 751 122 113 Corn--------------------------------338 81 175 170 Sulfur_------------------------------336 370 469 463 Machinery----------------------------334 342 301 285 Wheat ------------------------------307 267 218 216 Automobiles and parts-----------------283 304 260 268 Ammonium compounds----------------247 322 464 295 Flour, wheat----------------------------185 188 90 68 Fertilizers, unclassified-----------------182 176 187 191 Canned food products_----------------179 193 170 190 Tinplate------------------------------166 295 244 213 Asphalt-.----------------------------166 122 119 105 Cement-------------------------------158 226 289 300 Liquors and wines ------------------------103 94 90 90 Potash---------------------------------97 248 112 40 Glass and glasware 8---------------89 81 94 67 Electrical apparatus ---------------83 77 83 75 Rice---------------------------------81 273 164 28 Groceries, miscellaneous---------------76 58 53 59 Textiles --------------------------------80 78 90 Agricultural implements ----------------71 69 73 84 Asbestos--------------------.----------68 72 59 59 Coffee--------------------------------67 71 80 34 Soda and sodium compounds --------------65 120 70 60 Salt--------------------------------65 52 .50 104 Slag _---. 61 52 68 66 Woodpulp -------------------------58 69 70 64 Rubber, manufactures ------------------53 51 44 26 Resin.---------------------------------51 56 46 42 Vegetable oil-------------------------46 53 37 35 Tobacco and manufactures -------------45 49 57 49 Railroad materials------------------------42 127 100 61 Creosote-------------------------------33 39 34 35 Pharmaceutical products----------------33 30 33 34 Grains, other and unclassified -----------32 47 53 115 Lumber_------------------------------31 29 24 36 Wax, paraffin ---------------------30 29 44 34 Carbon black -27 35 2G 27 Paints and varnishes--27 27 29 29 Clay------------------------------26 37 38 27 Floor coverings25 22 29 30 Food in refrigeration 2------------------------------. 25 14 19 14 Bricks and tile ---------------------------22 34 32 30 Confectionery _----------20 16 19 20 Soap and soap products,,20 14 16 12 Tallow -----16 21 34 28 All others-----------------1, 220 1, 358 1, 362 1,389 Total, Atlantic to Pacific 22 843 25, 430 21, 286 18, 419 Excludes asphalt. 2 Excludes fresh fruit. 495687-59-6

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74 FINANCIAL REPORT AND STATISTICAL DATA Table 19.-Principal Commodities Shipped Through Canal-Continued [Thousands of long tons] Commodity Fiscol year 19oc 11967 1956 1955 PACIFIC TO ATLANTIC Ores, various--------------------------7,560 6,401 5,137 4,087 Lumber ------------------------------3,323 2, 900 3,549 3, 747 Wheat-------------------------------1,986 2,688 1,478 1,387 Canned food products ------------------1,286 1, 311 1,301 1, 221 Bananas_-----------------------------1,082 870 936 939 Sugar--------------------------------1,068 1,446 1,425 1,281 Nitrate of soda------------------------1,046 867 1,167 1,271 Metals, various------------------------902 935 742 789 Petroleum and products ----------------746 752 1, 875 1, 981 Barley-------------------------------711 444 1, 083 387 Food in refrigeration 2-------------------630 800 618 551 Coffee------------------------------308 289 315 280 Woodpulp_----------------------------281 237 142 349 Cotton, raw_---------------------------260 262 290 236 Fruit, fresh (excluding bananas) ---------233 213 216 160 Oilseeds (including oilseed cake and meal)225 173 156 193 Wool---------------------------------224 315 234 218 Copra--------------------------------211 302 258 245 Chemicals, unclassified-----------------164 132 110 105 Fruit, dried----------------------------163 163 171 156 Iron and steel manufactures------------153 172 288 222 Borax--------------------------------148 159 157 150 Paper and paper products --------------130 96 91 89 Rice---------------------------------126 119 102 93 Oils, vegetable------------------------119 134 106 202 Rubber, crude--------------------------108 118 104 122 Metal, scrap--------------------------107 81 40 103 Whale oil_-----------------------------94 74 48 43 Fertilizers, unclassified-----------------93 56 45 22 Beans, edible-------------------------91 88 88 102 Grains, other and unclassified ------------82 16 39 37 Phosphates----------------------------81 111 108 152 Seeds, except oilseeds-------------------73 59 35 56 Textiles------------------------------70 85 81 50 Porcelainware-------------------------69 69 55 46 Coal-------------------------_------69 1 1---_I Wines-------------------------------68 40 62 65 Molasses_-----------------------------59 57 27 67 Flour, wheat--------------------------57 81 102 66 Oats_---------------------------------53 11 28 64 Skins and hides----------------------52 57 48 47 Machinery.----------------------------45 48 41 54 Tallow-------------------------------44 57 49 33 Peas, dry .-----------------------------42 59 24 44 Groceries, miscellaneous ------------------36 29 22 36 Vegetables, dry----------------------33 27 28 24 Cocoa and cacao beans-----------------28 27 22 30 Rubber manufactures------------------26 5 7 2 Hemp, unmanufactured -----------------20 26 20 17 All others.-----------------------------697 810 763 605 Total, Pacific to Atlantic ---------25, 282 24, 272 23, 833 22, 227 1 Excludes asphalt. I Excludes fresh fruit.

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Table 20.-Origin and Destination of Cargo through the Panama Canal from Atlantic to Pacific during Fiscal Year 1958 -Segregated by Countries in Principal Trade Areas T To weat coast North America To west coast South America Central South East coast North America: United America/ Balboa, Hawaiian America United States: States Canada Afexico C.7.1 Islands Total Chile Colombia Ecuador Peru (other) Total o North Atlantic ports---------------1,230,273 5,865 66, 368 777 105,445 1,408,728 317, 703 106, 410 44, 490 202, 003 3,450 674, 056 y South Atlantic ports----------------19,307 -28 .__-___ 2,088 23,223 7,871 11,246 609 3,768 -_-_-_. 23,404 2 Gulf ports ---------------------------646, 688 24, 343 115,334 15,298 50, 765 852, 428 196, 684 122, 884 39, 655 302, 676 10, 276 672, 175 > United States (other) 2-_______._ _____._------. -.-___. .11,175 11,175 -__-193 150 1,042 523 1,908 r Total, United States--------------1,896,268 30,208 182,630 16,075 170.373 2,295,554 522,258 240,733 84,904 509, 489 14,249 1,371,633 0 Canada---------------------------------14,232 28,087 -------------------------42,31 ---------5,050 335 1,388 13 6,786 3 Central America/Mexico.----------------127 19 1,740 --------------1,886 --__. 270 159 40 ._.-. 478 Cristobal, 0,Z.'----------------------. ---. 278 12 1,251 --------------1.541 __.4_1 200 1,607 --------------1,807 > West Indies----------------------------582, 770 290, 154 517, 299 337, 504 92 1,736, 819 438, 278 52, 659 20, 731 18,035 380 530, 083 Total, North America ------------------2,493,675 357, 480 702, 920 353, 579 170. 465 4,078,119 960, 536 298, 012 107, 736 528, 961 14. 642 1,910,787 Europe: British Isles.-----------------------------131,996 168, 956 1,678 141 15 302,786 32, 751 8,915 11,823 52, 768 521 100, 778 Belgium --------------------------------125, 706 27, 698 116, 643 1,077 8,877 280, 090 57, 539 45, 439 24, 833 72, 579 4,620 205, 010 Denmark-------------------------------12, 338 4,253 554 .---_--24 17, 169 2.227 1, 621 1, 081 4, 182 86 9,197 France ----------------------------------22,403 7,505 1,836 -_.-. 17 31,761 2,355 865 1,178 6.555 1,060 12,013 Italy ------------------------------------35, 188 11,711 3,921 ---52 50, 872 17, 519 1,254 946 9,424 686 29, 829 Netherlands -----------------------------56, 447 7,519 45, 960 --------------109, 926 8,416 24, 375 4,820 35, 426 179 73, 216 Norway ---------------------------------43, 905 762 84 -.--. 1,227 45, 978 331 1, 572 1, 635 2, 766 30 6, 334 Poland--------------------------.-----------------. ---4,372 ---_,.-------4,372,,,,,,,, .----.------, Spain-Portugal --------------------------12,514 499 244 --------------13,257 25,008 49 191 1,073 101 26,422 Sweden ---------------------------------17, 811 1,124 1,615 ----76 20,626 14, 565 5,460 4,184 32, 209 1,809 58, 227 West Germany --------------------------85, 570 10,453 112, 688 1 1,662 210, 374 44, 092 39, 986 44, 461 52, 233 4,496 185, 268 Europe (other) 2 ----------------------88, 043 16, 064 13,410 31 272 117, 820 13, 020 8, 615 3,717 18, 607 _6.477 49, 836 Total, Europe -----------------------632, 010 256, 544 303, 005 1,250 12, 222 1.205,031 217, 823 137, 551 08, 869 287, 822 20, 065 762. 130 East coast South America: Argentine -----------------------------15.971 1,311 -----------------------17,282 ------------------. .6----------6 Brazil----------------------------------34,320 2,195 --..---.--. ----.---------------------36, 515. ... British Guiana-------------------------6,430 .492 --------------6,922 80 860 861 1,801 Colombia---_ --------------------------17,839 3,422 7,108 _--_ 28,369 143,030 255,152 244 139,496 5 537,927 Netherland Guiana ---------------------19,634 -------------------------------19,634 ----------36 36 Venezuela ------------------------------1,616,398 127,730 72,574 -------1,816,702 341,309 2G,409 29,150 17,029 29 407,026 South America (other) 2-----------------691 ------------------------------691 --------------------------..760 760 Total, South America -----------------1,711,283 3,506 131, 644 79, 682 -------1, 026, 115 484,419 276,421 29,460 158, 182 34 948,456 Asia_------------------------------------103.684 12,500 ----------------.----------116.184. -------------. Africa-------------------------------------61,863 2,355 -----------------------64,218 16,060------------------------------16,000 Grand total --------------------------5, 002, 515 632, 385 1,137,569 434. 511 182, 687 7,389,667 1,678,778 712, 884 236, 005 974, 965 34, 741 3,637,373 Percent of Pacific-bound cargo--------------21.890 2.768 4.980 1.902 0.800 32.349 7.349 3.121 1.033 4.268 0.152 15.923 See footnotes at end of table.

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-J Table 20.-Origin and Destination of Cargo through the Panama Canal from Atlantic to Pacific during Fiscal Year 1958 Segregated by Countries in Principal Trade Areas-Continued To Oceania East coast North America: United States: Australia Bitish Ccania Frech Oceania New Zealand Oceania (other) 2 Total North Atlantic ports.---------------------100,559 -.------------2,466 31,842 15,564 150,431 South Atlantic ports------.-----.-----------21,149 -----------------.-----------2,779 -----------.,.23,928 Gulf ports----------.--.-----------------------270,537 600 3,542 108,148 5,172 387,999 united States (other) 2--_____-----7,801 --.-------219 810 177 9,007 Total, United States-------------------------.--. 400, 046 600 6,227 143, 579 20, 913 571, 365 Canada.-------------------------------------.----73,377-------------------------------25,362 .----------98,739 Central America/Mexico--------------------------36,732 ---------------------------------._ 11,005 --.----47,737 Cristobal, C.Z., ---------------------------.------------------------------------------------------------------------------------------------------West Indies ---------------------------------------37,454 49,307 617 212,021 87 299,486 Total, North America---------------------547, 609 49,907 6,844 391,967 21,000 1,017,327 Europe: British Isles.---------------------------------------3,176 (8. 272 -------------------728,129 9,597 809,174 Belgium .---------------------------------------.-------------------1,385 ---------------59,904 22 61,311 Denmark __._.-------. .----.----------------------------.----.-------------------------------------------------310 91 France -----------------------------.--------1,841 ------------41,636 25 --------.-.4.43,502 Italy---------------------------------------. ---------------------------------------1,547 ---------547 20642 Netherlands -.----------------------------------------1,272 770 --------------. 18,600 ---.-.-20,642 Norway--------------------------------------------------------------------------------------------7,721 .------.----.-7,721 z Poland ----------------------------------------------------------------------------------------------------------------------------------Spain-Portugal.-.-.--------------.-----------------------------------------------------------685 ----------.-W Sweden-----------------------------------. .-------. ---------------------------------------------13,590 -----------------------13,590 West Germany ----------------------------. ---------------------101 -----------------29,030 -----------------29, 131 2 Europe (other) 2 -_______-------------__ .----_ __----------9,436 -----------------9,436 Total, Europe ---------------------------------6,289 70,528 41,636 868,977 9,619 997,049 2 East coast South America: Argentine ---.-----------------------------------------------------------------------------------------------------------------------------------------Brazil -----. .----------------------------------------------------------------------------------------------------------------------------------------British Guiana---------------------------------3,424 .-------------.---------------------------------------------------3424 Colombia----------------------------------------16,352 ----------------------------------------.-------------------------16352 Netherland Guiana -----.--.-----------------------------------------------------------------------------------------------------------------------------Venezuela-------------------------------------------93,529 ---.-.-.-----.--------------.--------------------------------------------93,529 South America (other) 2 --------------------------------------.---------------------------------------------Total, South America ---------------------------113,305 ----------.---------------------------------------------------------113,305 Asia _.---.-------------------------------------------------------------------------------------------------------------------------------------------------r Africa----.-----------------------------------------------------------------------------------------------------------------------------------------------Grand total-----------------------------------667,203 120,435 48,480 1,260,944 30,619 2,127,681 Percent of Pacific-bound cargo--------------------------2.921 0.527 0.212 5.520 0!134 9.314 >

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To Asia Percent of total PhilipPacific3 East coast North America: East HongIndopine South Asia Grand bound a United States: Indies Formosa Kong china Indonesia Japan Islands Korea Thailand (other) 2 Total total cargo P North Atlantic ports----------19,629 79,300 27,863 69,775 37,409 4,292,760 233,316 189,000 37,600 29,710 5,016,362 7,249,577 31.736 South Atlantic ports ----------462 3,160 2,859 2,304 2,111 52,o27 22,287 8,890 3, 026 693 98,319 168, 964 .740 y Gulf ports---------------------32,865 145,744 39,962 50,040 20,156 2,436,342 142,188 445,879 8,945 56,064 3,378,185 5,290,787 23.161 United States (other) ..--3 1,181 491 197 317 9,343 5,107 5,688 204 6,507 29,038 51,128 .224 p --_ _r Total, United States --------52, 959 229, 385 71, 175 122, 316 59, 993 6,790,972 402, 898 649, 457 49, 775 92,971 8,521,904 12,760,456 55. 861 0 Canada----------------------------1,588 717 ', 854 1,535 309 170, 321 6,221 __----_ 1,438 558 186, 541 334, 385 1.464 0 Central Amcrica/Mexico ----------------------------------------------1,943 ---------------------3,970 5,913 56,014 .245 3 Cristobal, C.Z.1------------------------------------------------------331 ------------------------------------31 3,679 .016 "a West Indies ------------------------,1,060 256 3,193 18,20 536,205 4,481 5.000 -------21,912 590,708 3,157,090 13.821 > Total, North America_ 55,607 230,358 78,622 142,052 60,302 7,499,772 413,600 654,457 51,213 119,414 9,305,397 16,311,630 71.407 Europe: British Isles---------------------------------------665 --------------11,084 251 216 --------------12,216 1,230,954 5.389 Belgium ---------------------------------------------------------------30,078 ..530 --------------31,508 577,919 2.550 Denmark ---------------------------------------------------------------247 ----------------------------247 26,923 .118 France----------------------------------------------------------------2,361 ----------------------------2,361 89,637 .392 Italy. ------------------------------2 23 ---------------------414 --.6,468 --2 6,909 89,157 .390 Netherlands -------------------------------------------------------------8,841 -166 --------------9,007 212,791 .931 Norway-------------------------------------------------------------------------------------------------------------60,033 .263 Poland..----------------------------..--------------------------.-----------------------------------------------4,372 .019 Spain-Portugal ------------------------------------------------------------------------------------------------------40,364 .177 Sweden------------------------------------------------------------------------------------------------------------92,413 .405 West Germany .-------------------------------------39,685 -------10,930 --------------50,615 475,388 2.081 Europe (other) 2--------916 -------------12,900 2, 595 693 142 17,246 194,338 .851 Total, Europe --------------------2 23 1,58 --------------106,510 2,846 19,003 144 130, 10 3,094,319 13.546 East coast South America: Argentine-----------------------------------------2------------------------45,22 ------------------------------45522 62, 810 .275 Brazil------------------------------------------------------------127,678 -------------------------------127,678 164,193 .719 British Guiana ------------------------------------------------------------4,880 --------------------------------880 17,027 .074 Colombia.------------------------------------------------------------8---------------------8 582,656 2.551 Netherland Guia --------------------------------------------------------------------------------------------------------1,670 .086 Venezuela ------------------------------------------------------------------40,413 10,380 -------12,953 --G3, 746 2,381,903 10.427 South America (other) 2--------------253 -------------------------------253 1,701 .007 Total, South America --------------------------------------------------218,754 10,380 -------12,953 .212,087 3,229,963 14.139 Asia ...---------------------------------------------------------------------------------------------------------------116,184 .509 Africa-------------------------------37 ----------------------------6,128 -.-_4,822 --------10,937 91,205 .399 Grand total ----------------------55, 646 230.381 80, 203 142, 052 0, 302 7,831, 164 426, 826 678, 282 64, 166 119, 558 9, 688, 580 22, 843. 301 Percent of Paeific-bound cargo -------0.244 1.009 0.351 0.622 0.264 34.282 1.867 2.971 0.281 0.523 42.414 100.000 100.000 Includes both local and transshipped cargo. 2Also Includes cargo not routed to permit segregation between definite countries.

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Table 21.-Origin and Destination of Cargo Through the Panama Canal from Pacific to Atlantic during Fiscal Year 1958 % Segregated by Countries by Principal Trade Areas To United States To other North America North South United Central Total Atlantic Atlantic Gulf States America| Cristobal, West North West coast North America: ports ports ports (other) 2 Total Canada Mexico C.7.1 Indies America United States---------------------------------------------2,442,440 54,923 184,707 88,061 2,770,131 1,630 9,868 36,953 387,851 3,221,433 Canada--.--------------------------------------------------436,116 5,000 32,739 9,339 483,194 13,639 45 926 109,567 607,370 Balboa, Canal Zone '----------------------------------------673 1 598 -------1,272 ------46 3,029 4,347 Central America/Mexico-------------------------------------385,047 23,589 81,931 4,445 495,013 6,198 3,384 21,987 14,782 541,364 Hawailan Islands--------------------------------------------261,278 14,806 166,092 12,719 454,895 9,115 -----88 435 464,533 Total, North America-----------------------------------3.525,554 98,319 466,067 114,565 4,204,505 45,582 13,297 59,999 515,664 4,839,047 West coast South America: Chile ---------------------------------------------------3,458,762 183,948 385,577 96 4,028,383 6 12,103 4,103 23,800 4,068,395 Colombia ----------------------------------------------------131,512 10,587 37,757 2,838 182,694 118 164 858 238 184,072 Ecsador ----------------------------------------------------228 492 5,456 283,840 6,536 522,324 700 13 804 382 524,223 Peru -----------------------------------------------------2,182,285 5,377 365,288 6 2,552.956 ------. 3 739 2,242 2,555,940 South America (other) ------------------------------------747 -------4,920 27 5,694 ----------------253 5,753 11,700 Total, South America------------------------------------5,999,798 205,368 1,077,382 9,503 7,292,051 824 12,283 6,757 32,415 7,344,330 *9 Oceania: ) Australia---------------------------------------------------133,258 13,964 12,576 16,647 176.445 149,802 262 1,558 12,261 340,328 Z British Oceania----------------------------------------------28,453 -.---------------------28,453 --------------5 5 28463 2 French Oceania--------------------------------------------67,438 --------------.------67,438 ----------------------78 76 67592 Tew Zealand--------------------------------------------.--75,292 2,520 392 -----78,194 13,558 10 777 2,,7 115, Oceania (other) 2-------. -. -------------. ------------------608 -----------------------608 353 ----------------------961 Total, Canada----------------------------------------------05,049 16,484 12,958 16,647 351,138 163,713 272 2,418 33,119 50,660 U0 Asia: X East Indies--------------------------------------------------8,348 590 40,302 99,250 ------216 -------7,649 107,115 China--------------------------------------------------------------------------3884 ~~---------------------------------388 o Hong Kong------------------------------------------------,20,43 263 275 11 21,09-2 ------------------7,942 3,086 30,120 Z Indochina--------------------------------------------------2,397 --2--13 47 2,520 -----------------------------2,520 0 Indonesia------------------------------------------------,--.11,910 465 8,421 2 20,796 ------------------------------44 20,796 India ---------------------------------------------------------4,197 ----1,007 8---,204 19-------7 -------13 5,414 -1 Japan-------------------------------------------------------420, 594 10,606 69,935 2,209 499,344 366 36 12,198 20,945 532,889 PhilippineIslands-----------------------------------------977,220 11,540 98, 177 22,525 1,109,462-----------------3,693 893 1,114,048 Asia (oter)-----------------------------------------------70,281 1,089 1,753 49 73,620-----------------5,335 4,326 83,981 W Total, Asia -----------------------------------------------1,565.490 24,593 216,391 25,242 1,831,676 366 449 29, 168 34,712 3,896,371 0 Antarctica-----------------------------------------------------8,227 -----------------------8,227 -----------------------------8,227 Grand total --------------------------------------------11,404, 118 344,724 1,772,798 165,957 13,687,597 210,485 26, 301 98,342 615,910 14,638, 635 Percent oflAtlantic-bound cargo----------------------------------45.109 1.364 7.012 0.656 54.141 0.833 0.104 0.389 2.436 57.903

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To Europe British Irish NetherSpain West Europe Z West coast North America: Isles Belgium Denmark France Italy Republic lands Norway Poland Portugal Sweden Germany (other) 2 Total United States-----------229,292 201,216 46,690 112,272 107,797 17,742 337,003 29,960 16,983 7,468 53,217 242,626 132,635 1,534,901 3 Canada-----------------2,173,767 179,552 1,738 53,981 153,204 5,065 401,752 65,254 5,245 1,057 92 286,991 263,632 3,591,330 Balboa, Canal Zone ---11 -.777 --2,176 -------------------------------------------2964 Central America/Mlexico20,089 14,233 35 2,071 2,305 34 25,790 19 --------------1,596 91,730 7,194 165,096 z Hawaiian Islands-------12,972 4,993 35 1,816 --------------8,860 ----------.-----------3,223 16,909 2,683 51,521 Total, North America.2,436,120 399, 994 48, 509 170, 170 264, 083 22, 841 775, 581 95,233 22, 228 8, 525 58, 128 638, 256 406, 144 5, 345,812 West coast South America: Chile --------------------178,246 44,927 16,644 108,625 63,972 ---156,021 4 -------201,023 45,867 333,214 79,810 1,228,353 Colombia---------------65 3,833 147 9,479 704 -----2,860 --------------1,496 6,476 14,118 307 39,485 y Ecuador----------------14,2151 90,614 705 936 5,359 ----11,968 1,537 640 1,841 2,738 176,839 6,505 313,933 Z Peru-------------------223,526 60,568 9,424 76,884 7,233 9 474,312 1,014 -307 9,019 428,621 11,555 1,302,472 South America (other) 2.22, 685 1,071 82 290 1,031 .-5,813 ----------------. 17 337 11,278 5,388 47, 992 Total, South America. -438, 773 201, 013 27,002 196, 214 78, 299 9 650, 974 2,555 640 204, 684 64, 437 964, 070 103, 565 2,932, 239 Oceania: Australia-.---------------63,187 5,709 -.--. 1,814 ------------------------------75 --------------1,223 -----.72,008 British Oceania---------184,181 ------------------------------------------------------------------------4,758 17,725 206,664 French Oreania.--.---667 ----------------52,897 9 --------------------------------------22 ----------------53,595 New Zealand ------------759,268 7,457 11 30,514 2,032 .10,668 -------------------.15,433 22,118 847,510 Oceania (other) 2--. 20,869 --------------------------9 ---------------------------------------.--------------7,660 28,538 Total, Oceania --------1,028,172 13,166 11 85,225 2,050 --.---10,668 .-.-. 75 9 22 21,414 47,503 1,208,315 Asia: East Indies ------------------------------------------------------------------------------------------------------------------China ------------------746-----------------------------------------------------------------------------------------748 .Hong Kong---------------------------------------------------19 516 ---.------------------40 -----------------575 Indochina--------------------------------------------------------------------------------------------------------------------------Indonesia-------------------------------------------------------------------------------------------------------------------------India ----------------------------------------------------------------------------------------------------------------------------------Japan -------------27,708 5,222 -75 70 -7719----.-------------------9,620 -----8,431 58,841 PhilippineIslands ----------------------------------------------------------------------------------------------------------------Asia (other) --------203 -----------------------------------------------------------------------------------------203 Total, Asia ------------28,659 5,222 .75 70 19 8,231 -----------------9,660 ---------8,431 60.367 Antarctica------------------12,943 10,107 ---------------------------41,910 --------------------------------9,310 -74,270 Grand total ----------3,944,667 629,302 75,922 451, 684 344, 502 22, 869 1,487,364 97,787 22, 943 213, 218 132, 247 1,633,050 565, 643 9,620,999 Percent of Atlantic-bound cargo-------------------15.603 2,490 0,299 1,786 1.363 0.091 5.883 0.387 0.091 0.843 0.523 6.459 2,237 38.059 See footnotes at end of table. -I WC

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Table 21.-Origin and Destination of Cargo Through the Panama Canal from Pacific to Atlantic during Fiscal Year 1958 Segregated by Countries by Principal Trade Areas-Continued To east coast South America To Africa Percent Portu. of total South guese Union of AtlanticArgenVene. America East South Africa Grand bound West coast North America: tine Brazil Colombia zuela (other) 2 Total To Asia Africa Africa (other) 2 Total total cargo United Stato ----------------------9,208 112, 819 14, 454 97, 911 3,430 237, 822 28, 318 24, 465 52, 813 7,125 84, 403 5, 106, 877 20. 200 Canada--------------------------------250 1,192 1,907 54,616 1,492 59,457 17,810 65,944 199,082 36, 203 301,289 4,577, 250 18. 105 Balboa, Canal Zone 2-------------------35 23 456 83 .-597 --------.----------------7,908 031 Central AmericalMexico-.---------------------------774 8,385 2 9,161 -----------------------------------715,621 2.831 Hawaiian Islands.-----.-----------------------30 137 -------167 ------------------------------------516,221 2.042 Total, North America.---------------9,493 114, 034 17, 621 161, 132 4,924 307,204 46, 128 90.409 251, 895 43, 388 385, 692 10, 923,883 43. 209 Weal coast South America: Chile -------A-------------------------------: 3 10 12,757 -------12,770 58,324 --------.------------------------5,367.842 21.232 Colombia~-------------------------------------------9,042 ---.------------9,042 -----------------------------------232,599 .920 Ecuador---------------------------------------------7,454 8,018 2,011 17,483 ------------------------------------855,639 3.385 Peru--------------------------------------------------20,197 36 20,233 9,896 ------------.-------------------3,888,541 15.381 South Americts (other) 2---. ---.---140 .-.-. 71 211-------------------------------------59,903 .237 Total, South America. ----. -------143 16,506 41,043 2,047 59,739 68,220 -----------------------------10,404,524 41.155 Oceania: Australia-.---------. .--------.--------------------------.220--------------------------------------412,556 1.632 Z British Oceania ---------------.----------------------------------------------------------------------------235,127 :93 p French Oceania ---------------------------------------------------------------------------------------------------121, 187 479 New Zealand-------------------------------------------219 -------219 ---------------------------------------961,045 3801 Oceania (other) 2 .-------_ -------------. -----------------------------------2499 :117 Total, Oceania ------------------------------------------439 -.------439 --.---------.---------------1,759,414 6.959 Asia: 0 East Indies -------------------------------------------------3 -.-3 ----------------------------107,118 .424 x China----. ------------------------------------------------------------------------------------------------1,136 .005 Hong Kong ------------------------------------3 237 4 244 3 -----------------------------30,942 .122 Indochina-.-----------------------------------------------------------------'------------------------------------------20,796 .082 a India __ .-.-._---------------------------------------------------------------------------------------5,414 .022 Japan---------------------------------19,25 33,863 2,009 20,513 2,301 77,981 ---------------------80 672,991 2.662 Philippine Islands ----------------------------------40,794 25,245 5,203 71,242 -.-.-------------------------------------1,185,290 4. 688 Asia(other) j.-------------------------------------509 1,155 35 1,699 ----------------------------4--------,84-983 .336 Total, Asia --------------------19, 295 33,863 43,315 47, 153 7,543 151, 169 3 --------------3,.280 3,280 2,111,190 8.351 Antarctica.----------------------------------------------------------------------------------------82,497 326 Grand total -------------------------28,788 148, 040 77, 442 249, 767 14, 514 518. 561 114,351 90. 409 251, 895 46, 668 388. 972 25, 281, 508 .----Percent of Atlantic-bound cargo --0.114 0.586 0.306 0.988 0.057 2.051 0.452 0.358 0.996 0.185 1.539 100.000 100.000 > -I I Includes both local and transshipped cargo. 2 Also includes cargo not routed to permit segregation between definite countries.

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PANAMA CANAL COMPANY 81 Table 22.-Cargo Shipments by Trade Routes-Atlantic to Pacific [Thousands of long tons] Fiscal year EAST COAS'r UNiTED STATES TO1958 1957 1956 1955 West coast United States-----------1, 896 2, 096 2, 320 2, 474 West coast Canada----------------30 51 78 70 West coast Central America/Mexico --183 146 204 137 West coast South America -----------1372 1,465 1,295 1, 091 Chile.-------------------------552 607 453 NA Colombia---------------------241 197 307 NA Ecuador----------------------85 84 97 NA Peru-----------------------510 553 410 NA Others_---------------------14 24 28 NA Hawaiian Islands------------------170 226 214 210 Oceania------------------------571 647 751 816 Australia---------------------400 396 471 NA New Zealand------------------143 155 222 NA Others-----------------------28 96 58 NA Asia-----------------------------8,522 10,477 7,286 6,441 British East Indies------------53 77 32 NA Formosa----------------------229 260 227 NA Hongkong.---------------------71 66 51 NA Indochina -..-.------. 122 200 101 NA Indonesia----------------_.----60 255 40 NA Japan------------------------6,791 8,257 5,472 NA Philippine Islands--------------403 477 412 NA South Korea.------------------650 659 831 NA Thailand.---------------------50 50 42 NA Others----------------------93 176 78 NA Balboa, C.Z -----------------------16 24 26 25 Total--------------------------12,760 15,132 12,174 11,264 EAST COAST CANADA TOWest coast United States.-----------14 21 14 15 West coast Canada.----------------28 61 59 29 West coast Central America/Mexico -------95 88 38 West coast South America -__-_. 7 2 _-.-7 Oceania--------------------------99 104 103 133 Australia.---------------------74 80 68 NA New Zealand-------------------_. 25 24 35 NA Others---------------------------------------. NA Asia-----------------------------187 187 98 80 Japan.------------------------171 170 72 NA Others-----------------------16 16 26 NA Total.----------------------335 470 362 302

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32 FINANCIAL REPORT AND STATISTICAL DATA Table 22.-Cargo Shipments by Trade Routes-Atlantic to Pacific-Con. (Thousands of long tons) Fiscal year EAST COAST CENTRAL AMERICA/MEXICO .TO1958 1957 1956 1956 West coast Central America/Mexico_2 2 4 11 West coast United States ------------.---10 10 2 Oceania_----------------------_---48 56 43 Australia-----------------------37 37 43 NA New Zealand_------------------11 19 -.__.NA Asia----------------.--------------Other territories--------------------------------._1 4 Total------_----------_--------56 68 58 18 EAST COAST SOUTH AMERICA TOWest coast United States-----------1,711 1,340 1,304 233 West coast Canada------------------4 5 5 2 West coast Central America/Mexico --. 132 120 86 78 West coast South America ----------948 774 800 463 Chile------------------------484 583 581 NA Colombia.------------------.-277 46 70 NA Ecuador.----------------------29 .-.-3 NA Peru-------------------------158 145 146 NA Oceania.-------------------------113 212 90 111 Australia--------------------113 201 88 NA Others----------------------------11 2 NA Asia.-----------------------------242 233 148 151 Japan------------------------219 233 148 NA Others-----------------------23 -----------. NA Balboa, C.Z-----------.-------.--80 70 24 27 Total---------------------------3 ,230 2,754 2,457 1,065 CRISTOBAL, CANAL ZONE TOWest coast Central America/Mexico. I .-_-_1 13 West coast South America-----------2 1. Other territories.---------------------1 1 Total_-----------------------. -. 4 1 2 13 WEST INDIES TOWest coast United States------------583 188 174 253 West coast Canada ---__---._.--------299 247 155 125 West coast Central America/Mexico. 517 442 430 306 West coast South America ----------530 863 933 1,066 Chile--------------------------438 582 565 NA Colombia--------------------53 185 239 NA Ecuador----------------------21 28 4 NA Peru-------------------------18 67 125 NA Others_-----------------------------_-__ NA

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PANAMA CANAL COMPANY 83 Table 22.-Cargo'Shipments by Trade Routes-Atlantic to Pacific-Con. [Thousands of long tons] Fiscal year WEST INDIES TO1958 1957 1956 1955 Balboa, C.Z------------------------338 279 286 202 Oceania--------.------------------299 ]so 208 263 Australia---------------------37 18 142 NA British Oceania----------------49 10 -----NA New Zealand.------------------212 141 56 NA Others_--------------------_--_ 1 11 10 NA Asia-----------------------------591 861 672 428 Indochina--------------------18 .-_--12 NA Japan------_------------_-536 812 571 NA U.S.S.R---------------------22 25 44 NA Others-----------------------15 24 45 NA Antarctica (whaling grounds)-----------------15 42 Total_--------------------------3,157 3,060 2,873 2,685 EUROPE TOWest coast United States ------------632 677 598 525 West coast Canada ----------------257 394 310 197 West coast Central America/Mexico._303 279 239 261 West coast South America-----------762 780 765 667 Chile-------------------------218 226 200 NA Colombia---------------------137 81 118 NA Ecuador---------------------. 99 70 79 NA Peru-------------------------288 329 310 NA Others-----------------------20 74 58 NA Hawaiian Islands------------------12 11 12 21 Oceania--------------------------997 993 1,074 1,185 British Oceania-----------------70 61 42 NA French Oceania ---------------42 40 35 NA New Zealand------------------869 749 969 NA Others-----------------------16 143 28 NA Asia-----------------------------130 628 95 23 Japan----.-------------------107 583 76 NA South Korea------------------18 12 5 NA Others------------------------5 33 14 NA Other territories_----------_------1 1 1 2 Total--------------------------3,094 3,763 3,094 2,881 ASIA TO (MIDDLE EAsT)West coast United States -----------104 82 160 116 Asia-----------------------------------11 ----. .--Other territories-----------------_-12 2 -----.--Total--------------------------116 95 160 116

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84 FINANCIAL REPORT AND STATISTICAL DATA Table 22.-Cargo Shipments by Trade Routes-Atlantic to Pacific-Con. [Thousands of long tons] Fiscal year AFRICA TO1958 1957 1956 1965 West coast United States-----------62 74 71 37 \Vest coast Canada----------------2 2 3 4 West coast South America ------------16 2 32 33 Oceania --------------------------------4 -----1 Asia.-----------------------------11 5 ------.-. Total---------------------------91 87 106 75 Total cargo-Atlantic to Pacific. -22, 843 25, 430 21, 286 18, 419 NA-Not available. Table 23.-Cargo Shipments by Trade Routes-Pacific to Atlantic (Thousands of long tons] Fiscal year WEST COAST UNITED STATES To1958 1957 1956 1955 East coast United States ------------2, 770 2, 480 3, 956 3, 505 East coast Canada-----------------17 23 73 64 East coast Central America/Mexico. 10 10 1 --.-.-. East coast South America--------238 260 120 198 Brazil_------------------------113 142 21 NA Colombia---------------------14 13 16 NA Venezuela.---------------------98 64 65 NA Others---------------------. 13 41 18 NA Cristobal, C.Z.----------------------37 10 18 36 West Indies---------------------388 428 328 711 British West Indies.------------17 10 13 NA Cuba -------------------------99 83 113 NA Netherland West Indies ----------71 121 4 NA Puerto Rico-------------------188 207 191 NA Others-.---------------------13 7 7 NA Europe.---------------------------1,535 2,175 2,099 1,456 British Isles-------------------229 284 291 NA Belgium----------------------201 248 465 NA Denmark---------------.-----47 11 17 NA France------------------------112 567 97 NA Italy-------------------------108 140 60 NA Irish Republic ------------------18 36 13 NA Netherlands-------------------337 281 560 NA Norway-----------------------30 28 35 NA P oland -. -. ---. -______ _____ -17 .----_ --.__ N A Sweden----------------------53 49 42 NA West Germany---------------243 230 196 NA Others-----------------------140 301 323 NA Asia-------------.------------.---28 30 58 2 Israel-------------------------19 ---. 29 NA Others------------------------9 30 29 NA

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PANAMA CANAL COMPANY 85 Table 23.-Cargo Shipments by Trade Routes-Pacific to Atlantic-Con. [Thousands of long tons] Fiscal year WEST COAST UNITED STATES To-1958 1957 1956 1955 Africa.----.----------------------84 96 107 180 Portuguese East Africa.---------24 9 27 NA Union of South Africa----------53 36 62 NA Others ------------------------7 51 18 NA Total -----------------------5, 107 5, 512 6, 760 6, 152 WEST COAST CANADA ToEast coast United States -------------483 305 400 477 East coast Canada.------------------_ .14 7 76 95 East coast South America -----------59 37 31 47 Venezuela---------------------54 33 21 NA Others------------------------5 4 10 NA West Indies -----------------------110 73 85 98 British West Indies -------------_ .27 20 27 NA Puerto Rico------------. ------68 43 39 NA Others ------------------------15 10 19 NA Europe---------------------------3, 591 2, 736 2, 609 2, 917 British Isles.-----------------. .2,174 1,301 1,613 NA Belgium-----------------------180 272 155 NA France.------------------------54 52 25 NA Italy-------------------------153 66 51 NA Netherlands-------------------402 159 240 NA Norway-----------------------65 55 37 NA U.S.S.R.-----------------------54 --.-8 NA West Germany----------------287 475 173 NA Others ------------------------222 356 307 NA Asia.------------------------------18 45 20 70 Africa.----------------------------301 296 415 404 Portuguese East Africa ----------66 81 82 NA Union of South Africa----------199 187 307 NA Others------------------------36 28 26 NA Other territories.-------------------1 2 1 1 Total .--------------------------4,577 3,501 3,637 4,109 WEST COAST CENTRAL AMERiCA/MEXICo ToEast coast United States-------------495 376 385 393 East coast Central America/Mexico.-. 4 17 2 21 East coast South America.-----------9 8 7 5 Cristobal, C.Z----------------------. 22 45 45 27 West Indies -----------------------15 9 19 11

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86 FINANCIAL REPORT AND STATISTICAL DATA Table 23.-Cargo Shipments by Trade Routcs-Pacific to Atlantic-Con. lThQusands of long tons) Fiscal year WEST COAST CENTRAL AMERICA/MEXICO 1 To-198 15 196 15 Europe---------------------------165 165 243 143 British Isles --------------------20 10 19 NA Netherlands ------------------------26 16 35 NA West Germany -----------------92 99 122 NA Others-----------------------27 40 67 NA Other territories----------. Total ----------------------716 620 701 600 WEST COAST SOUTH AMERICA ToEast coast United States----------7, 292 5,888 4,897 4, 878 East coast Canada --------------------I 1 10 9 East coast South America 60 97 68 55 Colombia ----------------------17 16 16 NA Venezuela ----------------------41 14 21 NA Others------------------------2 67 31 NA Cristobal, C.Z -------------------7 41 12 9 West Indies.-33 52 44 35 Cuba ---------------------23 19 22 NA Others ------------------------10 33 22 NA Europe -----------------.2,932 2,810 2,396 1,823 British Isles 439 450 428 NA Belgium ------------201 262 248 NA Denmark -----------------------27 36 47 NA France --------------------------195 81 116 NA Italy-------------------------78 104 109 NA Netherlands ----------------------652 641 290 NA Spain and Portugal --------------205 177 194 NA Sweden ------------------------64 67 71 NA West Germany --------964 833 716 NA Others-___ 107 159 177 NA Asia ----------------------------------68 10 141 20 Egypt -----------------50 _----100 NA Others----18 10 41 NA Africa -----------------------------------10 3 83 Other territories -------------------12 4 5 Total ---------------------------10, 405 8,913 7, 576 6,912 BALBOA, C.Z. ToCristobal, C.Z ---------------------------1 West Indies -----------------------------3 2 Europe ---------------------------3 7 10 3 Other territories__ ------------.2 2 1 2 Total ---------------------------8 12 11 5

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PANAMA CANAL COMPANY 97 Table 23.-Cargo Shipments by Trade Routes-Pacific to Atlantic-Con. [Thousands of long tons] Fiscal year HAWAIIAN ISLANDs To1958 1957 1956 195 East coast United States ------------455 540 653 644 East coast Canada---------------9 ----1 6 Europe--------------------------52 51 19 9 British Isles---------------_--13 10 --_.NA West Germany ---------------17. 11 3 NA Others-------------------------22 30 16 NA Other territories------------------I I -------Total ---------------------------517 592 673 659 OCEANIA ToEast coast United States.-------------351 329 285 198 East coast Canada_----------------_ _164 136 140 127 West Indies--------------.--------33 38 26 27 British West Indies -------------31 36 24 N A Others_------------------------2 2 2 NA Europe.---------------------------1,208 1,968 1,197 1,144 British Isles -------------------1,028 1,533 1, 007 NA Belgium----------------------13 39 8 NA France----------------_--------85 154 94 NA Netherlands-------------------11 25 37 NA West Germany_----------------21 58 20 NA Others------------------------50 159 31 NA Other territories -------------------3 2 3 1 Total--------------------------1, 759 2, 473 1,651 1,497 AsIA ToEast coast United States------------1, 832 2, 086 2, 281 1, 879 East coast Canada. ----------------------28 13 3 East coat South America ------------151 193 306 247 Argentine ---------------19 33 155 NA Brazil------------------------34 52 53 .NA Colombia---------------_---43 52 54 NA Venezuela-----------------------47 45 31 NA Others.------------------------8 11 13 NA Cristobal, C.Z --------------------29 30 20 21 West Indies ------------------------35 65 20 35 Europe----------------------------60 179 98 51 British Isles_-----------------28 86 32 NA Others_------------------------32 93 66 NA Africa----------------------------4 34 43 18 Total_--------------------------2,111 2,615 2,781 2, 254

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88 FINANCIAL REPORT AND STATISTICAL DATA Table 23.-Cargo Shipments by Trade Routes-Pacific to Atlantic-Con. [Thousands of long tons] Fiscal year ANTARCTICA (WHALING GROUNDS) To1958 1957 1956 1955 East coast United States-------------8 _--8 2 Europe.---------------------------74 34 35 37 Total---------------------------82 34 43 39 Total cargo-Pacific to Atlantic-. 25, 282 24, 272 23, 833 22, 227 NA-Not available. Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific [Thousands of long tons] EAST COAST UNITED STATES TO WEST COAST Fiscal year UNITED STATES: 1958 1957 1956 1955 Bricks and tile.-------------.---3 5 6 5 Cannedfoodproducts.--------------14 24 28 35 Chemicals, unclassified-------------203 75 46 35 Confectionery--------------------15 12 16 17 Electrical equipment-----------------26 23 24 30 Floor coverings--------------.------. 10 8 15 17 Groceries, unclassified ----------------18 14 20 22 Iron and steel manufactures ---------731 1, 024 989 792 Liquors --------------------------_ .23 22 22 27 Machinery -------------------------. .6 11 10 14 Metals, various----------------------30 18 12 13 Paints.----------------------------8 9 9 10 Paper and paper products------------. _73 101 110 99 Petroleum and products: Crude oil ----------------------11 9 13 -Gasoline----------------------142 131 306 660 Lubricating oil ----------------.231 223 229 192 Fuel oil------------------------------5 12 7 Other and unclassified-------------38 44 34 25 Pharmaceutical products-----------21 20 20 22 Soap and soap products------------7 7 8 7 Soda and sodium compounds.--------8 13 16 23 Sulfur_---------------.------------61 72 91 112 Textiles.--------------------------9 8 10 18 Woodpulp-------------------------_. 1 19 18 13 All other and unclassified -----------207 199 256 279 Total--------------------------1,896 2,096 2,320 2,474 EAST COAST UNITED STATES TO WEST COAST CANADA: Ammonium compounds ----------. -4 4 3 6 Rice.-----------------------------4 .-.7 5 Sulfur----------------------------14 39 43 37 Tinplate------------------------------------------._ 5 All other and unclassified-----.-.-. 8 8 25 17 Total--------------------------30 51 78 70

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PANAMA CANAL COMPANY 9 Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued [Thousands of long tonsj EAST COAST UNITED STATES TO WEST COAST Fiscal year CENTRAL AMERICA/MEXICO: 1958 1957 1956 1955 Ammonium compounds------------2 5 1 1 Chemicals, unclassified ---------------15 14 20 22 Corn---------------------------37 ---72 7 Fertilizers, miscellaneous and unclassified_-------------------------12 13 10 7 Iron and steel manufactures ----------13 19 10 9 Lime-----------------------------5 9 10 13 Petroleum and products: Gasoline.----------------------4 5 5 1 Lubricating oil----------------4 3 5 3 Other and unclassified.-----------2 11 .-. 1 Wheat ---------------------------29 13 4 2 All other and unclassified ------------60 54 67 71 Total--------------------------183 146 204 137 EAST COAST UNITED STATES TO WEST COAST SOUTH AMERICA: Agricultural implements------------18 19 20 20 Ammonium compounds.------------32 17 13 9 Asphalt.--------------------------12 6 34 24 Automobiles and parts -------------46 64 58 73 Barley ----------------------------4 12 ------------Bricks and tile.----------------------7 11 15 12 Canned food products---------------24 21 34 31 Chemicals, unclassified --------------34 28 29 28 Coal_-----------------------------164 214 159 168 Corn------------------------------38 9 3 1 Cotton, raw.-----------------------10 17 5 6 Electrical equipment -----------------8 9 11 9 Fertilizers, miscellaneous and unclassifled-----------------------------3 9 7 13 Flour -----------------------------56 48 44 37 Grains, unclassified ------------------. .6 10 8 7 Iron and steel manufactures --------141 157 124 96 Lumber--------------------------2 8 1 3 Machinery-------------------------. 69 79 73 54 Oilseeds and products ----------------2 7 9 5 Paper and paper products-----------20 24 26 22 Petroleum and products: Fuel-diesel oil -----------------21 ---. Gasoline.----------------------65 72 64 44 Lubricating oil.----------------60 55 64 45 Other and unclassified----------3 3 5 5 Phosphates-----------------------27 16 13 4 Pulpwood------------------------17 4 9 7 Railroad materials.-----------------4 34 .-1 Rice----------------------------_38 1 12 3 Rubber, manufactured -------------8 7 10 7 Soda and sodium compounds ---------18 9 11 4 Soya beans_------------------------------7 Tallow.---------------------------7 6 13 10 Tinplate.--------------------------15 17 22 14 Vegetable oils, miscellaneous ---------8 32 10 9 Wax, paraffin.---------------------17 16 22 22 'Wheat---------------------------190 254 178 92 All other and unclassified -----------178 163 189 206 Total --------------------------1,372 1, 465 1,295 1,091 495687-59-7

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so FINANCIAL REPORT AND STATISTICAL DATA Table 24.-important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued [Thousands of long tons] EAST COAST UNITED STATES TO HAWAIIAN Fiscal year IsLANDS: 1958 1957 1956 1955 Automobiles and parts-------------4 4 5 8 Chemicals, unclassified-------------5 6 4 5 Fertilizers, miscellaneous and unclassified_----------------------------2 5 10 7 Iron and steel manufactures---------. .30 37 28 33 Machinery------------------------5 5 3 6 Paper and paper products.----------11 11 13 14 Phosphate.------------------------5 17 3 1 Soya beans-.-.----.-.---------------7 5 4 3 Tinplate--------------------------39 57 81 46 All other and unclassified-----------.62 79 63 87 Total --------------------------170 226 214 210 EAST COAST UNITED STATES TO OCEANIA: Agricultural implements -------------22 17 29 27 Automobiles and parts --------------12 17 26 26 Carbon black.---------------------10 11 13 16 Chemicals, unclassified --------------8 9 8 7 Clay ------------------------------7 6 8 6 Coke_----------------------------------71 23 28 Cotton, raw-----------------------18 19 11 12 Iron and steel manufactures.---------20 17 33 36 Machinery------------------------23 21 23 26 Petroleum and products: Fuel-diesel oil------------------. 1 6 22 3 Gasoline .----------------------7 29 36 74 Lubricating oil.----------------111 104 119 120 Other and unclassified.----------3 7 7 10 Potash----------------------------11 13 19 7 Rosin----------------------------10 11 12 9 Rubber, manufactured-------------19 13 10 2 Sulfur---------------------------190 171 260 296 Tinplate ------------------------.6 22 18 39 Tobacco and manufactures ---------_.-21 20 21 22 All other and unclassified ------------_ _72 60 53 50 Total--------------------------571 644 751 8)6 EAST COAST UNITED STATES TO ASIA: Agricultural implements-------------5 6 4 3 Ammonium compounds -------------87 194 346 182 Asphalt ---------------------------28 7 15 9 Automobiles and parts-------------31 41 34 34 Barley----------------------------. 1 37---.Bricks and tile ---------------------4 8 3 5 Canned food products--------------81 86 50 58 Carbon black---------------------13 20 11 9 Clay------------------------------. 7 15 11 5 Chemicals, unclassified-------------63 54 31 23 Coal and coke---------------------3, 676 3, 514 2, 802 3, 030 Corn.-----------------------------239 49 95 156 Cotton, raw----------------. -----306 341 178 186 Electrical equipment---------------7 9 15 7 Fertilizers, miscellaneous and unclassifled----------------------------14 42 37 33 Flour----------------------------119 129 38 20 Grains, miscellaneous and unclassified6 15 29 87 Groceries, unclassified ---------------19 16 8 5

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PANAMA CANAL COMPANY 91 Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued [Thousands of long tons] Fiscal year EAST COAST UNITED STATES To ASIA-Con. 1958 1957 1956 1955 Iron and steel manufactures-----------276 482 85 101 Lumber--------------------------2 5 5 9 Machinery ------------------------88 71 63 60 Metal, scrap----------------------450 1, 445 491 21 Metals, various--------------------125 468 18 11 Oilseeds-------------------.-----3 13 9 12 Paints.----------------------------4 5 6 6 Paper arid paper products.----------43 50 45 47 Petroleum and products: Fuel-diesel oil ----------------------6 7 1 Gasoline----------------------46 86 28 86 Lubricating oil----------------131 120 106 60 Other and unclassified.----------28 37 14 12 Pulpwood------------------------8 11 3 3 Phosphates -----------------------1,132 1,411 1, 147 957 Potash_----------------------------__ _ 3 -24 10 Railroad materials.-----------------18 10 8 20 Rice -----------------------------36 265 140 19 Rosin.-----------------------------_ _33 36 22 19 Rubber, manufactured-------------16 19 12 8 Soda and sodium compounds ---------.6 27 10 8 Soybeans-------------------------803 682 726 561 Sugar----------------------------3 19 17 6 Sulfur.--------------------. -----.--. 8 14 23 9 Tallow---------------------------8 15 19 17 Textiles-----------------------------28 29 28 40 Tinplate_--------------------------74 124 90 65 Tobacco and manufactures---------19 23 30 23 Wheat ---------------------------84 -----31 106 All other and unclassified-----------341 422 345 292 Total.--------------------------8, 522 10, 478 7, 259 6, 441 EAST COAST UNITED STATES TO BALBOA, C.Z. (No single outstanding commodity in this trade route.) EAST COAST CANADA TO WEST COAST UNITED STATES: Ores, various ----------------------8 6 12 6 All other and unclassified.------------. 6 1 2 9 Total ---------------------------_ _14 7 14 15 EAST COAST CANADA TO WEST COAST CANADA: Chemicals, unclassified .--.-------.5 2 6 Iron and steel manufactures--------12 11 7 7 Ore, bauxite.-----------------------. .12 38 36 6 All other and unclassified ------------_ _.4 6 14 10 Total --------------------------28 60 59 29 EAST COAST CANADA TO WEST COAST SOUTH AMERICA: Wheat---------------------------2 ----------1 All other and unclassified-----------5 2 -_--6 Total----------------------------. ..-7 2 7

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92 FINANCIAL REPORT AND STATISTICAL DATA Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued Thousands of long tons] Fiscal year EAST COAST CANADA TO OCEANIA: 1958 1957 1956 1955 Asbestos--------------------------12 11 14 23 Automobiles and parts ---------------5 7 11 13 Metals, various ----------------------8 10 9 11 Paper and paper products----------60 57 50 67 All other and unclassified -----------14 19 19 19 Total--------------------------99 104 103 133 EAST COAST CANADA TO ASIA: Ammonium compounds ------------2 --_9 9 Asbestos--------------------------31 35 27 16 Iron and steel manufactures--------13 27 Metal, iron_-----------------------70 50 Metal, scrap---------------------26 11 2 -Oilseeds-------------------------------8 17 32 Ore, iron -----------------------------------_ _--9 Paper and paper products ------------8 7 11 7 Slag -------.---------------6 21 15 All other and unclassified -------------31 19 17 16 Total--------------------------187 187 98 80 EAST COAST CENTRAL AMERICA/MEXICO TO WEST COAST CENTRAL AMERICA/MEXICO. (No single outstanding commodity in this trade route.) EAST COAST CENTRAL AMERICA/MEXICO TO OCEANIA: Sulfur.----------------------------48 56 43 All other and unclassified -. Total.--------------------------48 56 43 EAST COAST CENTRAL AMERICA/MEXICO TO ASIA. (No single outstanding commodity in this trade route.) EAST COAST SouTH AMERICA TO WEST COAST UNITED STATES: Asphalt --------------------------18 ------------Bones and bonemeal---------------. 10 6 3 8 Canned meat_------------------------4 5 6 4 Coffee-----------------------------28 50 53 20 Oilseeds.----------__--------------------____4------------4 Ores: Bauxite-----------------------26 20 22 23 Other and unclassified ---------------2 3 Petroleum and products: Crude oil ---------------------1, 614 1, 235 1,180 164 Lubricating oil-----------------------------22 --.All other and unclassified ------------11 22 15 10 Total --------------------------1, 711 1, 340 1,304 233 EAST COAST SouT'r AMERICA TO WEST COAST CANADA. (No single outstanding commodity in this trade route.)

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PANAMA CANAL COMPANY 93 Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued [Thousands of long tons] EAST COAST SOUTH AMERICA TO WEST .Fiscal year COAST CENTRAL AMERICA/MEXICO: 1958 1957 1956 1955 Asphalt_------.-------------.------17 23 18 18 Cement-------------------------3 ------1 1 Petroleum and products: Crude ol------------------------------------10 Fuel-diesel oil-----------------109 64 57 49 Gasoline------------.---.---1 33 9 .-. All other and unclassified------------_____-__-2 I.1 Total---------------------------132 120 86 78 EAST COAST SoUr AMERICA TO WEST COAST SoUTH AMERICA: Petroleum and products: Crude oil---.-----------------328 443 350 158 Fuel-diesel oil-----------------398 252 396 239 Gasoline.--------------------134 17 _--18 Kerosene----------------------49 -----------Lubricating oil____-_______.--16 23 Salt_----------------------------14 12 12 11 Sugar.----.-------.-----------.--5 20 ---10 All other and unclassified.------------20 14 19 27 Total_---------------------------948 774 800 463 EAST COAST SOUTH AMERICA TO OCEANIA: Petroleum and products: Crude oil.------------------63 150 61 59 Fuel-diesel oil-----------------16 ---.-. -.---Gasoline-------------------------11 -----15 Lubricating oil -.-.-...30 41 29 37 All other and unclassified------------_____.-4 10Total.---------------.----------113 212 90 111 EAST COAST SOUTH AMERICA TO ASIA: Beans, edible.----------------------------5 14 C orn ______________________ -____ -2 1 19 -----I Cotton, raw-----------------------16 20 13 19 Metal, iron.------------------------2 39 25 Ores: Bauxite.-----------------------5 5 10 5 Iron--------------------------108 110 15 2 Petroleum and products: Crude oil---------------------13 ---.. Gasoline.----------------------23 _. Soya beans--------------------------------2 15 3 Sugar---------------------------.22 .-. 36 73 Wheat--------------------------------. .------6 17 Wool-------------------------------6 8 11 10 All other and unclassified ------------26 30 12 7 Total ---------------------------242 233 148 151

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94 FINANCIAL REPORT AND STATISTICAL DATA Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued EThousands of long tons] EAST COAST SoUTH AMERICA TO BALBOA, Fiscal year C. Z.: Petroleum products: 1958 1957 1956 1955 Fuel-diesel oil-----------------69 36 9 17 Gasoline---------------------------12 9 9 Lubricating oil.-----------------7 16 .-. Other and unclassified----------------------1 1 All other and unclassified -----------4 6 5 Total_---------------------------80 70 24 27 WEST INDIES TO WEST COAST UNITED STATES: Molasses------------------------------------------23 52 Ore, bauxite.------------------------------. ..5 6 Petroleum products: Crude oil---------------------107 124 137 131 Fuel-diesel oil.------------------.15 ... Gasoline ----------------------333 49 Salt.------------------------------11 -----------.64 Sugar---------------------------92 5 .1 All other and unclassified.-----------25 5 8 5 Total.---------------------------583 188 174 253 WEST INDIES TO WEST COAST CANADA: Ore, bauxite.-----------------------278 239 134 102 Sugar_-----------------------------10 8 20 22 All other and unclassified-----------11 -.-. 1 1 Total ---------------------------299 247 155 125 WEST INDIES TO WEST COAST CENTRAL AMERICA/MEXICO: Petroleum and products: Crude oil----------------------2 33 4 20 Fuel-diesel oil.-----------------211 157 164 102 Gasoline----------------------230 155 170 143 Kerosene_----------------------60 46 45 36 Lubricating oil.-----------------6 30 20 --_.-Other and unclassified----------4 18 22 4 All other and unclassified ------------4 3 5 1 Total.---------------------------517 442 430 306 WEST INDIES TO WEST COAST SOUTH AMERICA: Asphalt---------------------------3 6 -.--.-. Petroleum and products: Crude oil----------------------.-------.-.16 --. -15 Fuel-diesel oil ------------------._ _375 540 509 594 Gasoline ----------------------_____68 122 191 252 Kerosene_----------------------57 59 118 92 Lubricating oil-----------------5 32 20 14 Other and unclassified.----------18 33 20 45 Sugar.-----------------------------2 52 75 46 All other and unclassified-----------2 3 ---. 8 Total---------------------------530 863 933 1,066

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PANAMA CANAL COMPANY 95 Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued [Thousands of long tons) WEST INDIES To BALBOA, C.Z.: Fiscal year Petroleum and products: 1958 1957 1956 1955 Fuel-diesel oil -------------------188 146 150 116 Gasoline_--------.-------------117 71 120 60 Kerosene----------------_-----25 16 16 9 Lubricating oil----------------7 16 Other and unclassified---------------30 .--17 All other and unclassified.-----------1 .-.--. Total-------------------------338 279 286 202 WEST INDIES TO OCEANIA: Asphalt-----------.--------.-------29 43 34 44 Petroleum and products: Crude oil----------------------------------66 53 Fuel-diesel oil-------------.61 26 12 18 Gasoline----------------------164 81 60 125 Lubricating oil-----------------. 32 14 30 18 Other and unclassified----------1 -------1 8 All other and unclassified.------------12 8 6 5 Total--------------------------299 180 208 263 WEST INDIES TO ASIA: Metal, scrap----------------------51 5 4 Petroleum and products: Crude oil----------------------11 ----------11 Fuel-diesel oil--------------------. --22 ---15 Gasoline---------------------------24 34 48 Ore, bauxite.----------------------6 35 3 -Sugar----------------------------510 768 628 351 All other and unclassified-----------13 7 3 3 Total.--------------------------591 861 672 428 EUROPE TO WEST COAST, UNITED STATES: Ammonium compounds------------26 36 47 37 Automobiles and parts-------------96 71 34 21 Canned food products---------------7 7 9 6 Cement.---------------------------. 9 10 11 5 Chemicals, unclassified---------------23 1 16 15 Clay.-----------------------------2 6 5 9 Creosote --------------------------20 25 28 28 Fertilizers, miscellaneous and unclassified ---------------------------35 28 54 60 Glass and glassware.----------------29 31 37 23 Groceries.--------------------------. .6 5 5 5 Iron and steel manufactures ---------138 152 106 120 Liquors and wines.-----------------31 27 25 24 Lumber_--------------------------3 5 6 5 Machinery------------------------11 13 13 7 Molasses------------------------------------------. -12 Ore, copper---------------------------------------10 Paper and paper products----------45 106 88 35 Peat moss-------------------------5 5 7 -Soda-----------------------------1 7 1 1 Woodpulp------------------------3 4 6 7 All other and unclassified -----------142 121 100 95 Total--------------------------632 677 598 525

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96 FINANCIAL REPORT AND STATISTICAL DATA Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued [Thousands of long tons] Fiscal year EUROPE TO WEST COAST CANADA: 1958 1957 1956 1955 Asphalt-------------------------13 12 -.-. Automobiles and parts -------------13 13 12 6 Chemicals, unclassified -------------4 6 10 9 Clay.---------------------------.5 3 5 2 Creosote----------------------------10 12 5 5 Glass and glassware.----------------13 10 14 8 Iron and steel manufactures--------102 241 185 98 Liquors and wines.-----------------9 10 7 6 Machinery------------------------7 8 7 5 Metal, copper---------------------------12 1 All other and unclassified--------------81 67 64 58 Total.--------------------------257 394 310 197 EUROPE TO WEST COAST CENTRAL AMERICA/MEXICO: Ammonium compounds------------45 27 13 6 Canned food products.--------------6 7 8 3 Cement--------------------------. 53 60 74 104 Chemicals, unclassified---------------8 10 11 9 Fertilizers, miscellaneous and unclassified---------------------------3 35 27 27 Iron and steel manufactures ---------.47 57 57 46 Paper and paper products -----------.6 7 5 4 Phosphates ------------------------16 15 5 6 All other and unclassified-----------69 61 39 56 Total--------------------------303 279 239 261 EUROPE TO WEST COAST SoUTH AMERICA: Agricultural implements.------------5 5 5 8 Ammonium compounds.-------------20 12 12 12 Automobiles and parts ---------------12 12 9 13 Canned food products---------------22 25 16 25 Cement--------------------------48 99 80 41 Chemicals, unclassified-------------61 38 39 36 Electrical equipment ---------------12 13 12 11 Fertilizers, miscellaneous and unclassified_--------------------------39 22 5 8 Glass and glassware ----------------16 11 18 12 Grains, unclassified.----------------6 6 4 7 Groceries, unclassified---------------. .7 7 6 4 Iron and steel manufactures --------.157 195 226 195 Machinery--------------------.--47 51 50 42 Metal, iron.-----------------------18 13 7 18 Oils, vegetable ---------------------_ _2 2 2 5 Paper and paper products----------38 42 38 34 Phosphates ------------------------39 24 26 20 Potash---------------------------13 4 2 .--.Railroad materials-----------------13 9 17 5 Soda and sodium compounds --------11 14 18 10 Textiles---------------------------. 6 6 6 5 Wax, paraffin---------------------6 7 5 4 Woodpulp------------------------17 24 28 17 All other and unclassified-----------147 139 134 135 Total --------------------------762 780 765 667

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PANAMA CANAL COMPANY 97 Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued [Thousands of long tonsl Fiscal year EUROPE TO HAWAIIAN ISLANDS: 1958 1957 1956 1955 Ammonium compounds -----------------------------Fertilizers, miscellaneous and unclassifed---------------------------11 10 11 2 All other and unclassified ------------1 1 1 1 Total.-----------------.-------12 11 12 21 EUROPE TO OCEANIA: Agricultural implements------------14 14 9 13 Asphalt.------------------.-------16 15 3 1 Ammonium compounds------------3 13 14 10 Automobiles and parts -------------53 63 61 63 Cement-------------------------30 44 107 136 Chemicals, unclassified ---------------43 39 39 34 Coke -------------------------------------------41 Electrical equipment----------------13 12 12 11 Fertilizers, miscellaneous and unclassified-----__-----------------------6 10 7 18 Floor coverings--------------------7 7 8 6 Glass and glassware.----------------16 12 16 10 Iron and steel manufactures---------229 204 248 226 Liquors and wines------------------20 19 20 16 Machinery.------------------------50 59 48 55 Metal, iron------------------------8 14 6 7 Paper and paper products ------------38 46 38 38 Petroleum and products: Fuel-diesel oil_----------------------1 --.--. 31 Gasoline.-------------------------.-----.25 Lubricating oil -----------------16 13 10 6 Other and unclassified---------2 2 1 2 Potash_---------------------------22 18 26 22 Railroad materials.------------------_ _3 6 5 3 Salt.------------------------------30 33 38 28 Slag.------------------------------42 31 53 66 Soda and sodium compounds--------8 8 10 5 Textiles---------------------------18 22 23 16 Tinplate--------------------------27 62 27 30 Vegetable oils.---------------------5 5 6 7 Woodpulp-. -------------------------6 5 4 10 All other and unclassified------------272 215 235 249 Total --------------------------997 993 1, 074 1, 185 EUROPE TO ASIA: Ammonium compounds-------------13 11 2 2 Chemicals, unclassified---------------4 9 13 1 Iron and steel manufactures.----------5 165 2 1 Machinery------------------------13 11 1 2 Metal, iron ------------------------6 61 1 Metal, scrap -----------------------1 36 Phosphates------------------------9 26 10 Potash----------------------------46 203 40 Soda--------------------------.--3 31 Sugar ------------------------------1 10All other and unclassified -----------29 65 26 17 Total.---------------------------130 628 95 23

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98 FINANCIAL REPORT AND STATISTICAL DATA Table 24.-Important Commodity Shipments Over Principal Trade Routes-Atlantic to Pacific-Continued Thousands of long tons] Fiscal year ASIA TO WEST COAST UNITED STATES: 1958 1957 1956 1955 Ores, copper_-------------------------21 51 20 --.--Petroleum and products: Crude oiL__ 75 26 133 111 All other and unclassified -----------8 5 7 5 Total---------------------------104 82 160 116 AFRICA TO WEST COAST UNITED STATES: Asbestos---------------------------8 8 6 5 Colee __----------------------------14 12 10 4 Ore, chrome-----------------------30 49 39 16 All other and unclassified.-----------10 5 16 12 Total_--------------------------62 74 71 37 AFRICA TO WEST COAST SOUTH AMERICA: Cotton, raw------------------------------------.1 Phosphates.-.-.-.-.-..16 2 32 32 Total---------------------------16 2 32 33 Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic [Thousands of long tons] Fiscal year WEST COAST UNITED STATES To EAST COAST UNITED STATES: 1958 1957 1956 1955 Beans ----------------------------10 9 8 15 Borax----------------------------4 4 3 4 Canned food products--------------481 479 540 534 Chemicals, unclassified.-------------125 79 61 54 Fruit, dried---.----------.--------58 56 62 72 Groceries, unclassified--------------7 3 3 8 Iron and steel manufactures --------3 12 14 8 Lumber -----------------------.-1, 285 1, 382 1, 610 1, 387 Machinery-------------------------2 7 4 9 Metals: Lead-------------------------5 4 17 19 Other and unclassified-----------. .13 7 3 4 Ores: Magnesite--------------------10 11 10 5 Other and unclassified----------1 1 15 2 Paper and paper products------------. .48 47 39 37 Petroleum and products: Crude oil ---------------------79 .-_. 47 79 Fuel-diesel oil -------------------201 18 1, 138 858 Gasoline-----------------------. 19 11 6 7 Lubricating oil ----------------61 55 57 79 Other and unclassified.------------99 106 121 66 Rice-----------------------------11 9 5 7 Seeds, except oilseeds---------------. .12 9 10 12 Vegetable oils----------------------12 .1 13 Wines---------------------------59 33 50 52Woodpulp.------------------------96 72 62 84 Wool-----------------------------2 4 3 4 All other and unclassified------------67 62 67 86 Total --------------------------2, 770 2,480 3,956 3,505

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PANAMA CANAL COMPANY 99 Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Tbousands of long tons] WEST COAST UNITED STATES TO EAST Fiscal year COAST CANADA: 1958 1957 1956 1955 Canned food products ----------------9 17 10 9 Lumber --------.-----.--------2 3 6 ------. Petroleum and products: Fuel-diesel oil -------------.-----------------.---.--56 52 All other and unclassified ---------. 6 3 1 3 Total----------.--.-----------17 23 73 64 WEST COAST UNITED STATES TO EAST COAST SOUTH AMERICA: Borax----------------------------2 6 5 4 Canned food products--------------16 11 11 16 Chemicals, unclassified-------------3 6 5 3 Iron and steel manufactures---------18 31 13 4 Lumber--------------------------16 9 7 11 Machinery-------------------------.6 8 5 6 Paper and paper products ----------12 8 11 11 Peas, dry-------------------------8 6 4 3 Petroleum and products: Lubricating oil-----------------------------3 5 7 4 Soda and sodium compounds.--------3 15 3 1 Wheat---------------------------86 114 _--68 Woodpulp_-------------------------. .2 -3 20 All other and unclassified ------------63 41 46 47 Total--------------------------238 260 120 198 WEST COAST UNITED STATES TO CRISTOBAL, C.Z.: Petroleum and products: Fuel-diesel oil--------------------------23 .9 28 All other and unclassified ------------_ _14 10 9 8 Total--------------------------37 10 18 36 WEST COAST UNITED STATES TO WEST INDIES: Beans, edible--------------.------37 35 35 32 Canned food products--------------91 94 93 90 Flour----------------------------7 3 15 23 Iron and steel manufactures---------3 9 12 8 Lumber.----------------------.-16 22 22 12 Paper and paper products_----------14 11 10 9 Petroleum and products: Fuel-diesel oil------------------68 59 2 399 Gasoline--------------------------35 --.------Kerosene--------------------------24 Other and unclassified.----------4 1 6 2 Rice---------------------------.-. 86 94 80 76 Vegetables, dry---------------------11 5 8 7 Wheat--------------------------------_ 6 _---9 All other and unclassified----------. 51 36 39 53 Total-.-------------------------388 428 328 711

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100 FINANCIAL REPORT AND STATISTICAL DATA Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Thousands of long tons] Fiscal year WEST COAST UNITED STATES TO EUROPE: 1958 1957 1956 1955 Barley.---------------------------309 66 911 146 Beans, edible----------------------3 13 3 18 Borax-----------------------------139 145 147 139 Canned food products ---------------139 117 111 73 Chemicals, unclassified.-------------9 10 6 10 Corn-----------------------------1 108 22 ------Cotton, raw.---------------------103 116 71 118 Flour ----------------------------16 19 14 16 Fruit, dried.-------------------------78 83 84 59 Fruit, fresh----------------------147 126 147 93 Grains, unclassified-----------------11 2 15 10 Honey ---------------------------5 4 4 6 Infusorial earth.-------------------15 16 7 --.--Iron and steel manufactures -----------16 4 7 1 Lumber.--------------------------101 125 109 95 Machinery.------------------------8 3 6 5 Metals: Copper-----------------------26 27 47 49 Other and unclassified ----------13 7 6 6 Metal, scrap----------------------80 29 3 81 Oats -----------------------------27 7 23 3 Oilseeds_--------------------------. 1 8 27 82 Ores, various----------------------10 12 22 12 Peas. dry.-------------------------15 22 1 24 Petroleum and products: Fuel-diesel oil-----------------------------28 -----107 107 Seeds, except oilseeds--------------14 15 10 15 Skins and hides-------------------8 6 3 6 Tallow---------------------------4 11 6 4 Vegetable oils---------------------1 9 1 93 Wheat---------------------------54 946 62 41 Woodpulp------------------------52 34 28 55 All other and unclassified ------------102 85 89 89 Total--------------------------1,535 2, 175 2,099 1,456 WEST COAST UNITED STATES TO ASIA: Barley.--------------------------------19 28 Wheat--------------------------------29 25------All other and unclassified.------------9 1 5 2 Total ---------------------------28 30 58 2 WEST COAST UNITED STATES TO AFRICA: Iron and steel manufactures----------._. 3 3 8 1 Lumber--------------------------48 27 60 135 Paper and paper products ------------9 3 7 8 Wheat ------------------------------8 40 1 All other and unclassified ------------. _.16 23 31 36 Total --------------------------84 96 107 180

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PANAMA CANAL COMPANY in Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Thousands of long tons] Fiscal year WEST COAST CANADA To EAST COAST 7 UNITED STATES: 1958 197 1956 1955 Lumber-.-------------------------459 297 392 461 Paper and paper products -----------_ __9 8 8 11 Woodpulp-----------------------15 -------.------11 All other and unclassified.-----------------.----------4 Total----------------.----------483 305 400 477 WEST COAST CANADA TO EAST COAST CANADA: Canned food products ---------------------6 14 Lum ber_.-.-.-.--....-. 12 6 11 13 Petroleum and products: Gasoline --------------60 77 All other and unclassified-----------2 4 1 Total-------------------------14 7 76 95 WEST COAST CANADA TO EAST COAST SouTrr AMERICA: Lumber--------------------------29 30 16 6 Wheat --------------------------10 ----------21 All other and unclassified-----------.20 7 15 20 Total--------------------------59 37 31 47 WEST COAST CANADA TO WEST INDIES: Flour----------------------------15 15 23 14 Lumber.--------------------------88 53 53 47 Wheat-------------------------------------4 29 All other and unclassified.------------7 5 5 8 Total.-------------------------110 73 85 98 WEST COAST CANADA To EUROPE: Asbestos--------------.---------10 7 7 Barley---------------------------380 375 141 238 Canned food products--------------8 8 12 16 Flour--.----------.----.-.------.-. 7 14 31 Fruit, fresh-----------------------9 8 13 18 Grains, unclassified-----------------53 6 19 20 Lumber--.-------------------------808 518 799 1, 202 Metals: Aluminum-------------. -----44 25 -Lead-------------------------41 44 38 49 Zinc.-------------------------63 58 54 75 Other and unclassified.------------4 2 4 6 Oats-----------------------------24 4 4 59 Oilseeds--------------------------138 52 Ores: Iron-------------------------2 4 99 5 Magnesite--------------------------. _. -10 Other and unclassified.----------20 20 29 29 Paper and paper products ----------22 7 5 2 Wheat---------------------------1,788 1,448 1,194 992 Woodpulp_------------------------94 110 117 171 All other and unclassified.-----------76 26 33 35 Total--------------------------3,591 2,736 2,609 2,917

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102 FINANCIAL REPORT AND STATISTICAL DATA Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Thousands of long tons] Fiscal year WEST COAST CANADA TO ASIA: 1958 1957 1956 1955 Wheat ---------------------------10 45 19 70 All other and unclassified------------8 .----1 -. Total--------------------------18 45 20 70 WEST COAST CANADA TO AFRICA: Lumber--------------------------264 234 248 233 M achinery.----..------________ ______ 4 -. -8 Wheat-------------------------25 47 155 154 All other and unclassified.-----------12 11 12 9 Total_-------------------------301 296 415 404 WEST COAST CENTRAL AMERICA/MEXICO TO EAST COAST UNITED STATES: Bananas--------------------------337 203 283 324 Coffee-------------------------------23 22 24 33 Lumber --------------------------.9 7 10 15 Ores: Iron-------------------------3 18 12 5 Manganese-------------------102 106 45 -. Sugar.--------------.-.---.--------11 6 2 7 All other and unclassified-----------10 14 9 9 Total------------------------------495 376 385 393 WEST COAST CENTRAL AMERICA/MEXICO TO EAST COAST CENTRAL AMERICA/MEXICO: Wheat--------------------------3 3 ______ 10 All other and unclassified_----------------14 2 11 Total----------------------------3 17 2 21 WEST COAST CENTRAL AMERICA/MEXICO TO EAST COAST SOUTH AMERICA. (No single outstanding commodity in this trade route.) WEST COAST CENTRAL AMERICA/MEXICO TO CRISTOBAL, C.Z.: Coffee_--------------------------. 7 13 7 12 Cotton, raw ------------------------. -----9 21 31 8 Lumber --------------------------1 5 4 1 Oilseeds--------------------.----._ 1 1 1 2 All other and unclassified --------------.4 5 2 4 Total--------------------------22 45 45 27 WEST COAST CENTRAL AMERICA/MEXICO TO WEST INDIES: Beans, edible----------------------11 5 12 8 Peas, dry------------------------------1 1 2 All other and unclassified -----------4 3 6 1 Total ---------------------------15 9 19 11

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PANAMA CANAL COMPANY 103 Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Thousands of long tons] Fiscal year WEST COAST CENTRAL AMERICA/MEXICO 1958 1957 1956 1955 To EUROPE:198 15 156 95 Coffee ---------------------------40 38 33 18 Cotton, raw.--------------------63 38 105 46 Lumber.-----------------------8 4 9 6 Oilseeds ---------------------------28 65 78 55 All other and unclassified.-----------26 20 18 18 Total.------------------------165 165 243 143 WEST COAST SOUTH AMERICA TO EAST COAST UNITED STATES: Bananas_--------------------------477 468 505 476 Beans, edible----------------------3 4 5 6 Canned food products---------------7 8 8 8 Chemicals, unclassified-------------4 12 6 4 Cocoa----------------------------15 13 13 21 Coffee----------------------------192 178 203 185 Cotton, raw.-----------------------6 2 6 7 Fertilizers, miscellaneous and unclassifled_---------------------------22 6 9 4 Fruit, fresh---------------.-------11 9 8 9 Iron and steel manufactures --------21 1 2 -----Lumber --------------------------15 5 3 2 Metals: Copper-----------------------192 242 193 206 Lead--------------------------46 30 25 25 Zinc.-------------------------20 31 8 5 Other and unclassified-----------. .3 2 3 1 Molasses ------------------------30 30 27 19 Nitrate of soda--------------------469 468 495 597 Oilseeds---------------------------.-.1 .__4 3 Ores: Antimony--------------------2 3 3 3 Copper-----------------------24 19 29 36 Iron -------------------------5, 294 3, 981 3, 025 2, 978 Lead-------------------------31 22 38 18 Manganese-------------------46 33 26 24 Tin--------------------------11 11 24 37 Zinc -------------------------92 113 126 111 Other and unclassified----------13 80 48 23 Sugar-----------------------------67 46 48 62 Vegetables, dry--------------------2 5 3 2 Wool.-----------------------------2 4 3 3 All other and unclassified.-----------184 62 1 3 Total.--------------------------7,292 5,888 4,897 4,878 WEST COAST SoUrn AMERICA To EAST COAST CANADA: Ore, iron -------------------------------------. .10 9 All other and unclassified-----------1 1 .---Total.--------------------------1 1 10 9 WEST COAST SouTH AMERICA To EAST COAST CENTRAL AMERICA/MEXICO: Nitrate of soda ---------------------10 2 2 -.-. All other and unclassified -------------2 3 3 .-.-. Total ----------------------. ---12 5 5 ---____

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104 FINANCIAL REPORT AND STATISTICAL DATA Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Tbousands of long tons] Fiscal year WEST COAST SoUTH AMERICA TO EAST COAST Soumr AMERICA: 1958 1957 1956 1955 Chemicals, unclassified-------------4 1 12 7 Ore, miscellaneous -----------------5 12 9 7 Petroleum and products: Fuel-diesel oil------------------------51 27 Gasoline---------------------------15 4 3 Rice.-----------------------------18 ----.-----1 Sugar------------. .---------.----10 12 8 18 All other and unclassified ------------23 6 8 19 Total--------------------------60 97 68 55 WEST COAST SOUTn AMERICA TO CRISTOBAL, C. Z.: Coffee----------------------------7 3 1 2 Petroleum and products: Fuel oil---------3-----31 .__. All other and unclassified.------------------.-.-. ..7 11 7 Total--------------------------7 41 12 9 WEST COAST SouTH AMERICA TO WEST INDIES: Nitrate of soda--------------------6 14 16 19 Petroleum and products: Fuel-diesel oil -----------------------------------21 18 9 All other and unclassified.-----------26 17 10 7 Total.--------------------------32 52 44 35 WEST COAST SOUTH AMERICA TO EUROPE: Ammonium compounds.------------10 .---. 12 11 Bananas--------------------------268 195 148 138 Beans, edible -------------------. --. 13 14 15 16 Canned food products.--------------4 10 10 6 Cocoa-----------------------------7 8 6 5 Coffee----------------------------42 31 43 27 Cotton, raw------------------------66 77 67 47 Fertilizers, miscellaneous and unclassified-----------------------------63 34 25 9 Fruit, fresh (except bananas).----------18 10 8 10 Lumber--------------------------5 2 4 8 Metals: Copper-----------------------247 230 186 197 Lead-------------------------24 28 29 32 Zinc.-------------------------14 6 8 9 Other and unclassified-----------3 4 2 5 Metal, scrap -----------------------4 21 8 1 Nitrate of soda --------------------502 373 543 562 Oil, whale -------------------------1 25 ----37 Oilseeds --------------------------47 36 39 43 Ores: Copper-----------------------52 66 53 63 Iron_-----------------------1,064 1,009 580 125 Lead-------------------_----_2 8 16 14 Manganese-----------------.6 4 6 7 Tin ---------------------------68 53 50 44 Zinc.--------------------------49 99 122 91 Other and unclassified -------------9 8 12 20

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PANAMA CANAL COMPANY 105 Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Thousands of long tons] Fiscal year WEST COAST SOUTH AMERICA To EUROPEContinued 1958 1957 1956 1955 Peas, dry.-------------------------6 11 8 3 Petroleum and products: Crude oil ---------------------124 239 140 128 Fuel-diesel oil-----------------1 6 38 50 Rice.-----------------------------8 8 8 6 Sugar.-----------------------_----62 123 120 60 Sulfur.-------------------_.-------------12 25 35 Vegetables, dry.--------------------13 13 14 13 Wines---------------------------2 4 8 6 Wool---------------------------4 10 6 2 All other and unclassified-----------124 33 37 30 Total.--------------------------2,932 2,810 2, 396 1, 860 WEST COAST SOUTH AMERICA TO ASIA: Petroleum and products: Fuel-diesel oil --------------------------------------.5.-.15 Nitrate of soda --------------------58 -----110 10 Sugar.-----------------------------10 10 16 10 Total.--------------------------68 10 141 20 BALBOA, C.Z.,TO WEST INDIES. (No single outstanding commodity in this trade route.) BALBOA, C.Z., TO EUROPE. (No single outstanding commodity in this trade route.) HAWAIIAN ISLANDS To EAST COAST UNITED STATES: Canned fruit.-..-----.---311 294 319 324 Metal, scrap-----------------------4 5 6 6 Molasses---------------------------16 ---.--.-. 32 Sugar----------------------------112 226 303 267 All other and unclassified ------------12 15 25 15 Total---------------------------455 540 653 644 HAWAIIAN ISLANDS TO CANADA: Canned fruit-------------------------------9 --------------6 HAWAIIAN ISLANDS TO EUROPE: Canned fruit -----------------------. 37 36 19 9 All other and unclassified.-----------15 15 -.-.-. Total ---------------------------52 51 19 9 OCEANIA To EAST COAST UNITED STATES: Dairy products, refrigerated---------10 9 6 6 Meats, refrigerated------------------. ._.-.43 8 4 4 Metals: Iron-------------------------_----2----------Lead-------------------------65 83 44 44 Other and unclassified-----------. 3 10 3 4 Ores: Chrome----------------------67 34 56 8 Manganese.--------------------28 11 9 6 Zinc-----------------------------------2----27 Other and unclassified -----------55 45 2 14 495687-59----8

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106 FINANCIAL REPORT AND STATISTICAL DATA Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Thousands of long tons] Fiscal year OCEANIA To EAST COAST UNITED STATESContinued 1958 1957 1956 1955 Sand---------------------------5 38 39 26 Skins and hides--------------------14 15 19 15 Wool.-----------------.---------. 43 41 59 55 All other and unclassified.-----------18 33 17 16 Total.---------------------------351 329 285 198 OCEANIA TO EAST COAST CANADA: Fruit, dried.-.-----------------------11 11 12 13 Meats, refrigerated.-.-------.-------12 6 8 3 Sugar ---------------------------126 104 92 90 Wool------------------------------4 6 10 7 All other and unclassified------------11 9 18 14 Total ---------------------------164 136 140 127 OCEANIA TO WEST INDIES: Canned food products--------------6 8 6 5 Flour-----------------------. --2 7 2 2 Meats, refrigerated -----------------10 8 7 11 All other and unclassified-----------15 15 11 9 Total---------------------------33 38 26 27 OCEANIA To EUROPE: Barley--------------------------------.----. ----4 1 Canned food products--------------56 so 42 49 Copra_---------------------------87 144 96 78 Dairy products, refrigerated.-. 238 265 224 216 Fruit, fresh.-----------------------. 37 46 30 20 Meats, refrigerated----------------279 474 336 285 Metals: Lead_-------------------------7 26 5 8 Zinc.---------------------.-------17 4 7 Other and unclassified.---.6 3 4 3 Metal, scrap.----------------------8 13 10 5 Ores: Chrome---------------------------2 19 6 Zinc--------------------------12 19 2 3 Other and unclassified.----------3 79 12 3 Peas, dry.--------------------------5 6 4 5 Phosphates-----------------------79 109 99 150 Seeds, except oilseeds---------------8 18 5 9 Skins and hides--------------------25 31 19 19 Sugar-----------------------------94 218 43 46 Tallow.----------------------------27 32 33 21 Vegetable oil, coconut.--------------26 29 20 25 Wheat----------------------------.---. 15 11 ---.Wool.-----------------------------167 246 150 146 All other and unclassified.-----------44 96 29 39 Total.--------------------------1,208 1,968 1,197 1, 144

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PANAMA CANAL COMPANY 107 Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued [Thousands of long tons] Fiscal year ASIA To EAST COAST UNITED STATES: 1958 1957 1956 1955 Canned food products.--------------70 94 72 50 Chemicals, unclassified----.----------6 5 5 8 Copra----------------------------41 69 82 89 Fibers, miscellaneous and unclassified. 5 6 5 3 Fish, refrigerated -------------.-----. 7 7 6 5 Groceries, unclassified--------------9 10 6 8 Hemp, unmanufactured-----------19 23 20 16 Iron and steel manufactures---------39 19 46 41 Lumber.---------------------------118 118 137 85 Machinery----------------------.-. 12 8 12 9 Metal, scrap.--------------------------------------1 Metals, various.---------.---------18 20 13 9 Molasses-----------------------------------------16 Ores: Chrome.---------------------305 417 512 325 Iron---. .----------------.----2 12 33 23 Manganese--.----------------48 43 49 27 Tin_--------------------------6 3 9 7 Other and unclassified-----------10 3 7 4 Porcelainware-------.---.---.-----60 55 48 40 Rubber, crude.---------------.----106 115 102 120 Sugar---------------------.------577 697 791 714 Textiles---.------------------------49 35 51 33 Vegetable oils: Coconut----------------------71 84 68 63 Other and unclassified----------3 2 2 2 All other and unclassified-----------251 241 205 181 Total.--------------------------1,832 2, 086 2, 281 1,879 ASIA To EAST COAST SoUr AMERICA: Chemicals, unclassified--------------4 3 2 6 Copra------------------------.---76 75 75 75 Iron and steel manufactures---------53 55 158 134 Machinery---------------------.-6 4 3 4 Metal, iron --.----.----------------.--.----17 7 Tinplate.--------.---------.----8 15 6 ---.All other and unclassified-----------4 41 45 21 Total---------------------------151 193 306 247 ASIA TO CRISTOBAL, CANAL ZONE. (No single outstanding commodity in this trade route.) AsIA TO WEST INDIES: Iron and steel manufactures ---------4 3 2 12 Petroleum and products: Gasoline -----------------------8 36 .-.-6 Other and unclassified---------------------2 -----1 All other and unclassified-----------23 26 18 13 Total.--------------------.------35 65 20 35

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10 FINANCIAL REPORT AND STATISTICAL DATA Table 25.-Important Commodity Shipments Over Principal Trade Routes-Pacific to Atlantic-Continued IThousands of long tons] Fiscal year ASIA TO EURoPE: 1958 1957 1956 1955 Canned food products.-------------------35 11 5 Copra----.-----------------.--------. ---8Fertilizers, miscellaneous and unclassified_----------------------------1 4 5 ------Iron and steel manufactures---------1 4 7 1 Lumber.-------------------------.-. 13 43 36 13 Poreclainware.----------------------2 5 2 1 Textiles----------------------------5 21 4 3 All other and unclassified ------------. .38 59 33 28 Total---------.---------------60 179 98 51 ASIA To AFRICA: Iron and steel manufactures---------------6 13 8 Textiles--------------------------. 2 17 16 6 All other and unclassified-----------1 11 14 4 Total---------------------------3 34 43 18 ANTARCTICA (WHALING GROUNDS) To EAST COAST UNITED STATES: Whale oil-.------------------------------8 8 2 All other and unclassified ..--. .--. Total--------------------------8 8 2 ANTARCTICA (WHALING GROUNDS) TO EuROPE: Whale oil.-------------------------74 35 35 37 All other and unclassified ----------------------------------Total--------------------------74 35 35 37

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PANAMA CANAL COMPANY 109 Table 26.-Small Vessels I Transiting Canal Fiscal year 1958 Fiscal Commercial (tolls paying): Atlantic Pacific to year Number of transits: to Pacific Atlantic Total 1957 Assessed on not tonnage -.--418 332 750 899 Assessed on displacement tonnage-.__-_--------_------------------.------9 Total transits-------------418 332 750 908 Panama Canal net tonnage-------30, 405 28, 509 58, 914 83, 475 Displacement tonnage------------------------------..-3, 135 Tolls -------------------------$23, 379 $24, 240 $47, 619 $69, 468 Cargo (long tons)---------------6,503 12, 207 18, 710 25, 295 Government (tolls credit): Number of transits: Assessed on net tonnage -.--86 124 210 222 Assessed on displacement tonnage---------------------61 66 127 159 Total transits-------------147 190 337 381 Panama Canal net tonnage--------7, 116 8, 815 15, 931 19, 992 Displacement tonnage-----------5,718 4,597 10,315 10,926 Tolls.--------------------------$8,916 $9,456 $18,372 $22,649 Cargo (long tons) ----------------------------------.167 Combined commercial/Government: Number of transits: Assessed on net tonnage --. 504 456 960 1, 121 Assessed on displacement tonnage---------------------61 66 127 168 Total transits-------------565 522 1, 087 1, 289 Panama Canal net tonnage-------37, 521 37, 324 74, 845 103, 467 Displacement tonnage.-----------5, 718 4, 597 10, 315 14, 061 Tolls collected or credited-------$32, 295 $33, 696 $65, 991 $92, 117 Cargo (long tons)--------------6, 503 12, 207 18, 710 25, 462 1 Includes vessels under 300 net tons, Panama Canal measurement (or under 500 displacement tons for vessels assessed on displacement tonnage). This traffic is not included in any of the summaries of oceangoing traffic.

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:L10 FINANCIAL REPORT AND STATISTICAL DATA Table 27.-Water Supply and Expenditures Percent of expenditures Fiscal year fiscal year 1958 1957 1958 1957 MADDEN AND GATUN LAKEWATER SUPPLY: (Acre-feet) Total runoff Madden Lake basin-. 1, 602, 546 1, 802, 136 Evaporation from Madden Lake. 48, 828 51, 194 Available for Madden Lake uses-1, 553, 718 1, 750, 942 Total runoff, Gatun Lake (area below Madden) ---------------------2, 267, 906 2,781, 198 Subtotal---------------------3, 821, 624 4,532, 140 Evaporation from Gatun Lake-----439, 301 456, 818 Available for Gatun Lake uses. 3, 382, 323 4, 075, 322 MADDEN LAKE WATER EXPENDITURES: Madden hydroelectric power ------1, 166, 528 1, 357, 966 83 65 Madden spillway discharge--------127, 709 736, 869 17 35 Total Madden Lake expenditures. 1, 294, 237 2, 094, 835 100 100 Madden Lake volume------------459, 435 214, 509 Gain or loss in storage.----------+244, 926 -343, 893 .. GATUN LAKE WATER EXPENDITURES: Gatun hydroelectric power--------1, 459, 344 1, 215, 725 49 26 Gatun and Pedro Miguel lockages. 1, 462, 925 1, 384, 895 49 29 Municipal and other uses ---------55, 303 55, 440 1 1 Subtotal, Gatun uses.-----------2, 977, 572 2, 656, 060 99 56 Gatun spillway discharge ---------90, 817 2, 082, 553 1 44 Total Gatun Lake expenditures. 3, 068, 389 4, 738, 613 100 100 Net annual runoff, Gatun Lake basin 3, 382, 323 4, 075, 322 -. Gatun Lake volume --------------3, 975, 459 3, 906, 451 Gain or loss in storage.----------+69, 008 -319, 398 -. Table 28.-Dredging Operations Cubic yards Location Earth Rock Total CANAL PRIsm DREDGING: Atlantic entrance maintenance-----------599, 400 153, 300 752, 700 Gatun Lake maintenance--------------997, 000 30, 000 1, 027, 000 Gaillard Cut maintenance -------------73, 600 89, 100 162, 700 Pacific entrance maintenance----------89, 200 75, 500 164, 700 Total, Canal prism----------------1, 759, 200 347, 900 2, 107, 100 AUXILIARY AND CONSTRUCTION DREDGING: Cristobal outer harbor, west anchorage.2, 781, 200 ------2, 781, 200 Project No. 14 (bend 1868), Gaillard Cut14, 500 253, 900 268, 400 East diversion, Mindi River -----------84, 000 -.-. 84, 000 Total, auxiliary and construction ------2, 879, 700 253, 900 3, 133, 600 Grand total: Fiscal year 1958.---------------4, 638, 900 601, 800 5, 240, 700 Fiscal year 1957.---------------4, 707, 100 303, 500 5, 010, 600

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PANAMA CANAL COMPANY in Table 29.-Electric Power Generated Fiscal year 1958 1957 Gross power generated: (Kilowatt-flours) Gatun hydro station------------.-------84, 021, 200 71, 371, 900 Madden hydro station ------------------125, 151, 500 163, 860, 500 Diesel stations.-------------------------41, 004, 380 19, 742, 700 Total generated----------------------250, 177, 080 254, 975, 100 Consumed in station service ---------------3,440,674 2,971,379 Net generator output-----------------246, 736, 406 252, 003, 721 Distributed to consumers--------------------222, 640, 477 229, 108, 926 System losses: Kilowatt-hours-------------------------27, 536, 603 25, 866, 174 Percent-------------------------------11. 1 10. 1 Peak load (kilowatts) -----------------------44, 100 43, 600 Date -------------------.-----------------Dec. 3, 1957 Sept. 7, 1956 System load factor (percent) -----------------64. 8 66. 8 Table 30.-Number of Full-Time Employees Paid at U.S. Rates As ofJune 80, June 30, ADMINISTRATION AND GENERAL: 1958 1957 President's office --------------------------.----45 43 Office of the secretary-------------.---------------6 Comptroller's office and staff--------------------219 211 Administrative Branch -------------------------34 41 Personnel Bureau-------------------------------61 62 Subtotal, administration and general-----------365 363 OPERATING ORGANIZATIONS: Canal and allied Maritime operations: Marine Director-------------.-------9 9 Locks--_-----------------------------409 414 Locks overhaul-------------------------36 10 Navigation--------.-------------------244 244 Ferry service------------.--------------21 21 Vessel repairs-------------------------181 178 Dredging---------------------------------99 85 Meteorology and hydrography--------------14 14 Harbor terminals--------------------------83 77 Marine bunkering-.-------------------------43 43 Hotel Washington.---------.-----------------0 1 Subtotal, canal and allied maritime operations-------------------------------1,139 1,096

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112 FINANCIAL REPORT AND STATISTICAL DATA Table 30.-Number of Full-Time Employees Paid at U.S. RatesContinued As ofOPERATING ORGANIZATION:-Continued June 30, June 30, Supporting operations: 1958 1957 Printing plant.----------.-----------------11 9 Duplicating unit-------------.------.---. 0 2 Engineering and Construction Director ---.--. 13 11 Power conversion project.---------------16 10 Engineer and design services -------------95 88 Contract and inspection ------------------.17 19 Electrical work -------------------------_ _124 124 Power system.--------------------------65 65 Communications system.----------------39 37 Maintenance work ---------------------120 121 Water system------------------------53 51 Supply and Community Services Director--.-. 7 0 Supply and Employee Services Director --.-. 0 5 Supply Division, General Manager .-. 31 0 Procurement, United States --------------_.34 0 Retail stores ---------------------------75 95 Service centers -------------------------.21 26 Storehouses---_-----------------------is 27 Employee housing ------------------------16 17 Grounds branch.-----------------------13 0 Grounds maintenance------------------0 13 Public buildings------------------------. 1 0 Buildings-----------------------------0 1 Tivoli Guest House --------------------3 3 Transportation and Terminals Director ---.--4 4 Freight agent, Panama.------------------. .-.4 5 Railroad: Maintenance -----------------------_ __33 31 Transportation ---------------------. .34 38 Motor transportation --------------------62 61 General Manager, New York Operations -42 40 Procurement, United States-------------0 35 Steamship line -------------------------300 300 Subtotal, supporting operations.-------1, 251 1, 238 Total Panama Canal Company (Canal Zone)-----------------------------2,373 2,316 Total Panama Canal Company (United States)----------------------------382 381 Grand total Panama Canal Company. 2, 755 2, 697

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PANAMA CANAL COMPANY 113 Table 31.-Number of Full-Time Employees Paid at Canal Zone Wage Rates As ofJune 30, June 80, ADMINISTRATION AND GENERAL: 1958 1957 President's office---------------------------1 1 Office of secretary-----.-------------------------0 0 Comptroller's office and staff. ----------------------75 51 Administrative Branch_-------------------------. 25 35 Personnel Bureau------------------------___----36 31 Subtotal, administration and general -------------137 118 OPERATING ORGANIZATIONS: Canal and allied maritime operations: Marine Director ----------------------------__-1 1 Locks_--------------------------------797 856 Locks overhaul -------------------------251 2 Navigation----------------------------1,089 1,177 Ferry service---------------------------67 70 Vessel repairs---------------------------261 263 Dredging------------------------------------524 448 Meteorology and hydrography ---------------29 29 Harbor terminals.--------------------------1, 652 1,655 Marine bunkering.--------------------------..95 94 Hotel Washington----------------------------0 5 Subtotal, canal and allied maritime operations ---------------------------------4,766 4,600 Supporting Operations: Printing plant-----------------------------66 59 Duplicating unit---------------------------0 10 Engineering and Construction Director.---0 0 Power conversion project ---------------0 0 Engineering and designs services ---------84 69 Contract and inspection----------------2 2 Electrical work --------------------------129 133 Power system --------------------------. 75 78 Communications system ----------------19 18 Maintenance work.---------------------579 532 Water system-------------------------60 59 Supply and Community Services Director -----0 0 Supply and Employee Services Director.----0 0 Supply Division, General Manager. -.53 0 Procurement, United States--------------0 0 Retail stores------------------_-----_ 868 891 Service centers--------------_----------_-183 189 Storehouses---------------------------190 198 Employee housing ---------------------62 71 Grounds Branch ------------------------405 0 Grounds maintenance --------------------0 394 Public buildings.-------------------.--76 0 Buildings.----------_-------------------0 80 Tivoli Guest House _.-----_. -47 48

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114 FINANCIAL REPORT AND STATISTICAL DATA Table 31.-Number of Full-Time Employees Paid at Canal Zone Wage Rates-Continued As ofJune 30, June 30, SPER TVO OnoANIZATIONS-Continued 1958 1957 Iran )ortation and Terminals Director-----------0 0 Freigt agent, Panama----------------------58 60 Railroad: Maintenance--.------------------.----126 131 Transportation------------------------91 98 Motor transportation-----------------------305 307 Steamship line---.----------------------------10 9 Subtotal, supporting operations-----.----------3, 488 3, 436 Total Panama Canal Company (Canal Zone). 8, 381 8,145 Total Panama Canal Company (United -States)------------.------------------.---10 9 Grand total Panama Canal Company-----------8, 391 8, 154

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CANAL ZONE GOVERNMENT Balboa Heights, C.Z. OFFICE OF THE GOVERNOR January 5, 1959 The Honorable THE SECRETARY OF THE ARMY, Washington, D.C. My DEAR MR. SECRETARY: I have-the honor to submit the seventh annual report of the Governor of the Canal Zone reviewing the fiscal year ended June 30, 1958. Very respectfully, W. E. POTTER, Governor. 115

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A40rcdction CANAL ZONE GOVERNMENT The Canal Zone Government is an independent agency of the executive branch of the Government, directly under the President of the United States, but by the delegation [of responsibility] the Secretary of the Army represents the President in the supervision of Canal Zone Government affairs. Administrative and executive authority is vested in a Governor who is also ex officio President of the Panama Canal Company. The Governor is appointed by the President of the United States with the approval of the Senate. The Canal Zone Government includes the usual functions of government and public health, including civil affairs, schools, libraries, postal service, magistrates' courts, police and fire protection, hospitals and other health services, and highways and sewers. The Panama Canal Company, with which the Canal Zone Government is closely interrelated in purposes, organization, and operations, provides administrative, accounting, and personnel management and other services to the Canal Zone Government on a reimbursable basis. ORGANIZATIONAL CHANGES There were no major organizational changes during the year; however, effective July 1,1957, the Land License Unit and License Section were merged into one organizational unit, the License Section. MAJOR PERSONNEL CHANGES Maj. Bruno Eisen (USA) (MC) was reassigned to Superintendent, Coco Solo Hospital, effective August 1, 1957, vice Dr. John M. Wilkerson, retired effective July 30, 1957. Col. Joseph R. Vivas (USA) (MC) was detailed from the U.S. Army as Chief, Medical Service, Gorgas Hospital, effective August 6, 1957, vice Col. Edward A. Cleve (USA) (MC), relieved from duty. Maj. Benjamin A. Darden was promoted to Chief, Police Division, effective October 1, 1957, vice Maj. Roger W. Griffith, retired effective September 30, 1957. Capt. Gaddis Wall was promoted to District Police Commander, effective December 29, 1 57, vice Maj. Benjamin A. Darden, promoted to Chief, Police Division, effective October 1, 1957. Lt. Col. Harvey E. Meagher (USA) (MC) was detailed from the U.S. Army January 31, 1958, and assigned to Assistant to Health Director, to replace Lt. Col. David C. Burke (USA) (MC), relieved from duty with the Canal Zone Government, effective February 14, 1958. Col. Norman H. Wiley (USA), Director, Gorgas Hospital, was relieved from duty with the Canal Zone Government on June 1, 1958. Mr. Edward 1. P. Tatelman, Magistrate, Cristobal, retired June 30, 1958. Mr. William E. Jones, Fire Chief (Battalion Commander), retired on June 30, 1958. 117

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f tp e Ar I PUBLIC HEALTH SANITATION The Division of Sanitation conducts all phases of environmental sanitation in the Canal Zone, including disease, insect vector, and rat control; malaria control measures; maintenance of sanitary drainage systems, and other sanitary control measures necessary to the welfare of inhabitants living in the Canal Zone. During this fiscal year the foremost and continuing sanitation problem was the alarming increase in malarial mosquitoes. The resurgence of malaria early in the fiscal year necessitated the development and implementation of intensive countermeasures within the Canal Zone. By the end of June 1958, considerable improvement and progress had been made in the control of Anophele albimanus and the other pest types of mosquitoes. Approximately 135 miles of drainage ditches have been restored or improved on the Atlantic side. Previously neglected breeding foci of mosquitoes have been discovered and drainage and other controls have been instituted. From an alltime low rate of 0.8 per 1,000 employees in 1956, the malaria incidence increased to 1.5 in fiscal year 1957, and at this fiscal year's end the rate among employees, including recurrent cases, had reached a high of 9.1 per thousand. As in the past years, the greatest number of cases of malaria occurred among employees living in rural or suburban areas of the Republic of Panama, outside Canal Zone Government jurisdiction. The rate among these employees is much higher than that of employees living within sanitated areas. As the percentage of employees living in the Republic increases, the malaria rate will be influenced by the effectiveness of control measures conducted in the Republic of Panama. A realistic appraisal indicates no real prospects of eradicating malaria in the Canal Zone until virtual eradication has been achieved in Panama. Mosquito control will always remain a continuing project, and malaria eradication in Panama does not include mosquito control. Therefore, there is a continual infiltration of mosquitoes from Panama as well as from outlying Canal Zone mosquitoproducing areas. Recent detailed discussion of the Canal Zone's malaria and mosquito control programs with leading international malariologists and entomologists indicates that the Health Bureau program is sound, and by comparison, very comprehensive and effective. The rodent population has been controlled at a practicable low level. In addition to the continually maintained poison bait stations, all manholes were baited during the dry season, the most effective period for this phase of extermination. Following the rat-poisoning program, all manholes were sprayed with dieldrin as a roach and dryseason mosquito control measure. U9

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120 PUBLIC HEALTH Ship inspections and other procedures in support of maritime quarantine continued at a high frequency. No unusual incidents occurred in this activity during the year. PREVENTIVE MEDICINE The Preventive Medicine Section is responsible for matters pertaining to public health, such as control of communicable disease and industrial health problems, infant and child health, and physical standards. The occurrence of a worldwide epidemic of influenza due to the Asian variant of type A influenza virus began to affect the Canal Zone at the beginning of the fiscal period. The number of cases of upper respiratory infections increased rapidly for several months during which time it was estimated that 30 percent of the population was afflicted. Other than an unusual increase in cases of measles and the respiratory infections referred to, there were no further unusual incidences of communicable diseases and no quarantinable diseases occurring on the Canal Zone, or imported to the isthmus during the year. One of the most active preventive medicine programs for the past several years has been the annual chest X-ray survey of all Canal Zone employees and residents. This year the tuberculosis survey of all employees and residents was accomplished with a total of 12,346 X-rays being taken in comparison with 9,072 in fiscal year 1957. There was 238 X-rays reported as suspicious which included 188 previously known cases. The remaining 120 patients were studied further to determine correct diagnosis. During the year there were 76 new cases of tuberculosis diagnosed, of which 38 were residents of the Republic of Panama, 31 were Canal Zone residents, and 7 were transients. The poliomyelitis vaccination program continued to expand throughout the year. A total of 15,805 injections was administered to children and adults. There were no cases of poliomyelitis occurring on the Canal Zone during the entire year. SCHOOL HEALTH The School Health Section, composed of the school physician assisted by two nurses and two part-time clerical assistants, expanded its activities during the year to include varied allied services in addition to the routine work performed by the group. Physical examinations of students totaling 4,083 were performed in comparison with 3,112 last fiscal year. Visual screening was conducted for 10,361 students, of whom 9,191 were found to have normal vision. The dental survey was modified during the year to include all pupils in the second, fourth, and eighth grades in both the U.S. and Latin American school systems. A total of 2,954 pupils were examined, 2,004 in the U.S. schools and 950 in the Latin American schools, revealing that approximately 47 percent and 30 percent of the pupils, respectively, had no dental cavities. As an adjunct to the overall mission of this division during the year, the Health Section initiated an immunization service among schoolchildren, teachers, and others. The section administered a total of 4,274 injections. It is planned

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CANAL ZONE GOVERNMENT in to expand this service during the coming year to include tetanus, pertussis, and diphtheria, as well as poliomyelitis and smallpox vaccines. QUARANTINE Technical supervision and services relating to quarantine matters are the responsibility of this section. Quarantine boarding activities continued as a function of the consolidated boarding party under the administrative direction of ti Marine Bureau. During the yearthe assignment of a physician as Chief of the Quarantine Section to supervise the training and instruction of boarding officers in quarantine matters resulted in an appreciable improvement in this section. Free or provisional pratique was granted to 8,421 ships during the year in comparison with 5,534 last period. In addition, 455,647 passengers and crew members were process for quarantine purposes, an increase of 84,567 examinations over last fiscal period. There were 4,132 persons aboard ships vaccinated, and 8,084 passengers and crew members were detained aboard ship for quarantine reasons. Two hundred and thirty-five remand notices were sent to next port of call on vessels for lack of various quarantinable qualifications, or for arrival from plague suspect ports. USPHS AGENCY The Division of Preventive Medicine and Quarantine maintains liaison with the U.S. Public Health Service and is responsible for the administration and supervision of the program providing for medical care of American seamen treated in Canal Zone medical facilities as beneficiaries of the U.S. Public Health Service, Under this program medical care was provided for 3,131 seamen, and consisted of 2,877 outpatient visits and 2,596 inpatient hospital-days. During the year a change in policy of the U.S. Public Health Service, permitting local seamen on vessels that do not touch continental U.S. ports to obtain elective care and treatment for chronic illnesses, was initiated. This change accounted for substantial increases in all operational and fiscal phases of this service. This group was previously restricted to emergency care and treatment for acute illnesses as are transient seamen. VETERINARY ACTIVITIES This activity is responsible for all veterinary matters relating to food and animal disease control in the Canal Zone. The program is designed to protect the Canal Zone customer against foodborne diseases and subsistence of inferior quality. Inspections of approved food-processing establishments in the Republic of Panana and the Canal Zone totaled 1,228 for the year and included fish and shrimp packing plants, abattoirs, butter, ice cream and cheese manufacturing establishments; beverage bottlingr, sausage, and milk pasteurizing plants; confectioneries, wholesale markets, farms, mneat-packaging units, cold storage depots, and many others. Ante mortem and post mortem examinations were performed on 3,904 animals slaughtered for food in Panama's abattoir. In addition to the locally slaughtered beef, the veterinary unit controlled 495687-59--9

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I22 PUBLIC HEALTH and inspected 138,005 pounds of other beef, 150,037 pounds of lamb, 183,492 pounds of pork, and 1,038,832 pounds of poultry imported for consumption in the Canal Zone. All dairy herds supplying milk to Canal Zone communities were tuberculin tested during the year. The usual animal disease control activities were carried on during the fiscal period, with rigid controls being exercised over the importation of animals into the Canal Zone, and through the Canal Zone into the Republic of Panama. As a result of the consolidation of Army and Canal Zone Government animal care activities within the Corozal Animal Hospital that operates in conjunction with the animal quarantine station, an increased workload resulted this fiscal year in all phases of the operation. Statistical data relating to animals and confinement-days involved in comparison with fiscal year 1957, are given below: Fiscal year Percent -increase Number of animals admitted: 1958 19J7 workLoad Hospital Section -------------------------1, 501 1,146 31. 0 Quarantine Section----------------------629 497 26.0 Outpatient clinics------------------------6, 439 5, 088 26. 0 Total animal admissions----------------8, 569 6, 731 27. 0 Animal confinement-days: Imported and local quarantined animals at Corozal and Cristobal units.-------------16,810 16,235 3.5 Others confined in Hospital Section -------6, 649 6, 046 10. 0 Total animal confinement-days ----------23, 459 22, 281 5. 3 HOSPITALS AND CLINICS The number of adult patients and patient-days in Canal Zone Government hospitals for the fiscal years 1958 and 1957 was as follows: Fiscal year Percent of actual Number of adult patients hospitalized: 1958 1957 change Gorgas Hospital -------------------------9, 223 8, 695 6. 1 Coco Solo Hospital ----------------------3, 681 3, 490 5. 5 Average length of adult patient stay: Gorgas Hospital-------------------------11.6 11.4 1.8 Coco Solo Hospital ----------------------9. 3 10. 0 (7. 0) Adult patient-days: Gorgas Hospital------------------------99, 207 95, 820 3. 5 Coco Solo Hospital----------------------35,244 34,210 3.0 Corozal Neuropsychiatric and Domiciliary Hospital----------------------------90,535 95,896 (5.6) Palo Seco Leprosarium-------------------43,356 42,964 .9 The death rate from all causes declined from 4.13 per 1,000 population in calendar year 1956 to 3.63 in calendar year 1957. The principal causes of death were arteriosclerotic and degenerative heart diseases. The live birth rate for the Canal Zone decreased slightly in the calendar year 1957, dropping to a rate of 27.95 per 1,000 population in comparison with the 30.20 rate per 1,000 in calendar year 1956.

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CANAL ZONE GOVERNMENT 123 HIGHLIGHTS On November 17, 1957, Gorgas Hospital celebrated the 75th anniversary of its founding and the establishment of hospital and medical facilities in the Panama Canal organization. The diamond jubilee was also marked by the issuance of a 3-cent commemorative stamp by the Canal Zone postal service.

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6 1aftie II PUBLIC EDUCATION GENERAL DESCRIPTION The public school system for U.S.-citizen children includes 10 kindergartens; 11 elementary schools with grades 1 through 6; 2 junior high schools, grades 7 and 8; 2 senior high schools,. grades 9 through 12; and a junior college, grades 13 and 14. Public schools for Latin American children include 3 kindergartens; 4 elementary schools with grades 1 through 6; 4 junior high schools, grades 7 through 9; and 2 high schools, grades 10 through 12. In addition to its regular educational program the schools maintain and operate swimming pools, gymnasiums, playgrounds, and other facilities for child and youth development. Other educational services performed included adult evening classes and after-school driver-training classes conducted at Balboa and Cristobal. In addition, the observatory at Miraflores was operated during the dry season. The Latin American schools completed the third year in which instruction in all grades was conducted in Spanish. Considerable progress was made in upgrading the educational qualifications of secondary school staffs, in improving faculty proficiency in the use of the Spanish language, and improving the quality andi quantity of textbooks. Thirty-eight Canal Zone teachers attended evening classes at the University of Panama, and 78 teachers and principals enrolled in the summer session there. ENROLLMENTS Total day school enrollments increased 3.1 percent over the previous year. The U.S.-citizen school enrollments registered increases in all sections except in the Junior College, grades 13 and 14. An overall increase of 4.6 percent is shown in comparison with 0.9 percent last year. Latin American enrollments were tip very slightly, showing a. decided decline in kindergartens, 41.1 percent, and a decline of 2.3 percent in grades 1 through 6. Grades 7 through 12 registered nominal increases of only 0.6 percent. Enrollment of nonresident, U.S.-citizen tuition student ts increased from 289 to 333, Panamanian citizens dropped from 237 to 187, and other nationalities dropped from 41 to 30, leaving a total of 550 as compared with 567 last year. There are no tuition students enrolled in the Latin American schools. As of Oct. 151957 1956 U.S.-citizen schools.-------------------------------7,179 6,862 Latin American schools _.----------------------------4, 028 4,003 Total---------------------------------11,207 10,865 124

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CANAL ZONE GOVERNMENT 125 SPECIAL EDUCATION Special education services for exceptional children were inaugurated this year in the Canal Zone schools. A follow-up study of the survey of handicapped children, initiated in the previous fiscal year, was begun in August 1957. Tn addition, a speech survey of all second and fourth grade pupils was conducted in the US. elementary schools. Of the children examined, 9.74 percent needed speech correction. A school psychologist was added to the special education staff in January 1958. A speech correction program was begun in September 1957, and studies and recommendations were made preparatory to the establishment of classes for educable mentally handicapped children. Another important phase of the special education program was inaugurated in February 1958 when a special class for physically handicapped children was started in temporary quarters at Gorgas Hospital. Eight teachers from the U.S. schools and six from the Latin American schools were sent to the United States for training in the teaching of exceptional children. With the beginning of the school year in September 1958, considerable expansion is planned for the special education program. PLANT Several major plant changes were either completed or underway at the end of the fiscal year. They are: additional dressing room facilities at the Balboa gymnasium, the replacement of Ancon elementary school playshed, construction and alteration of classrooms for handicapped children at Santa Cruz and Balboa; and the construction of Reserve Officers' Training Corps and activities building at Balboa High School. The Cristobal elementary school, located in the Republic of Panama, was closed in June and classes will reopen at Coco Solo in September. Transfer of the Cristobal school facilities will be made to the Republic of Panama in accordance with the provisions of the Remon-Eisenhower treaty. LIBRARY-MUSEUM The library, founded in August 1914, soon will enter its 45th year of continuous service to canal officials and employees. The Canal Zone Museum was created during the latter part of 1950 ar an adjunct to the library. Circulation of library materials increased more than 7 percent during the past fiscal year, and there has been an increase of 21 percent in circulation since 1951. A total of 254,046 books, periodicals (including official periodicals), and documents were circulated during the year in comparison with a total of 236,128 last year. Coordination of library services withthe schools was further implemented during the year. Additions were made to the Spanish book stocks in the Latin American branches of the library. These branches continue to attract school and community interest.

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126 PUBLIC EDUCATION During the past year, and as a result of the interest and cooperation of local persons and staff members of the Library of Congress and of the New York Library for the Blind, a library service for the blind was initiated. A procedure has been established for the use of a special-purpose record player and talking-book loan privileges through the Canal Zone Library for those in need of the service and also for the Schools Division special education program.

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{eate/ III PUBLIC ORDER AND PROTECTION POLICE ACTIVITIES During the fiscal year decisive steps were taken to raise the professional standard of the Canal Zone police. There were no significant changes in the police organization or plant, and the authorized force continued at about the same level as last year. Near the close of the fiscal year arrangements were made for the designation of available male personnel in the customs and postal divisions as auxiliary policemen to supplement the regular police force in the event of severe emergency. The major activities of the division include highway and townsite patrols by radio cars and motorcycles, launch patrols of lakes and harbors, foot patrols of the jungles, detective investigations, investigations of traffic accidents, and issuing of warning notices. In addition, police personnel locate persons in the Canal Zone who are wanted in Panama for criminal offenses, examine persons for motor vehicle driver's licenses, photograph and fingerprint arrested persons, impound animals and motor vehicles, investigate deaths, operate the penitentiary and the prison for women and minors, and provide special police protection when necessary. In addition to the usual inservice training programs which were stepped up, more rigid employment, promotion, and job-assignment policies were instituted. A "Code of Ethics and Canons of Police Ethics," promulgated by a committee appointed by the International Association of Chiefs of Police, was adopted and widely distributed during the year. Comparative statistics tabulated below indicate that arrests and workload in general in the indicated phases declined. The most significant change occurred in the number of arrests made, there being 443 fewer offenses in comparison with last year. The most decided increase in any phase is that in the number of warning tickets issued, an increase of 856 being shown over the comparable number last year. Sixty-two nationalities were represented among those arrested. As usual, nonresidents, mostly Panamanians, were responsible for the bulk of the offenses committed. Police activity highlights of the year consisted of active participation in the civil defense, Canal Zone-wide alert Opal 1958, with the manning of traffic control points throughout the zone pursuant to the master plan. 127

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128 PUBLIC ORDER AND PROTECTION Cooperative international relations with Panama continued in a normal trend except during May 1958 when untoward incidents occurred which required special handling. Fiscal year Cla& iieaiiom of arrests 1958 1957 Male-------------------------------------------4, 238 4,480 Female -----------------------------------------328 529 Total-----------------------.-------------4,566 5,009 Arrests made with warrants ---------------------------204 268 Arrests made without warrants---------------------4, 362 4, 741 Total--------------------------------------4, 566 5, 009 Residents of Canal Zone ----------------------------1, 215 1, 417 Residents of Panama-------------------------------3, 116 3, 390 Transients .----------------------------------------235 202 Total------------------------.---.----.-----4, 566 5, 009 Charges for misdemeanors-------------------------4,623 5,097 Charges for felonies--------------------------------298 267 Total offenses-------------------------------4, 921 5,364 Offenses reported to FBI---------------------------1, 180 1,093 Motor patrols made (in miles)-----------------------863, 473 842, 000 Traffic accidents investigated ------.-----------------445 506 Warning tickets issued---------------------------4,352 3,496 Deaths investigated by Coroner---------------------78 82 Daily average prisoners in jail-----------------------41 37 Daily average convicts in penitentiary ----------------_ __110 101 COURT ACTIVITIES The judicial functions of the Canal Zone Government are performed by the Magistrates' Courts. The two courts, each presided over by a magistrate, are in session throughout the year in the Canal Zone, and handle cases for the subdivisions of Balboa and Cristobal. The number of cases handled in the Cristobal court totaled, 1,079, a decrease of 329 from the 1,408 handled in fiscal year 1957. The number of cases handled in the Balboa court decreased slightly, a total of 3,475 compared with 3,488 cases handled in 1957. A summary of activities at the Magistrates' Courts, Cristobal and Balboa, during fiscal year 1958, in comparison with figures for fiscal year 1957, is shown below: Cristobal Balboa Total Cases handled: 1958 1957 1958 1957 1958 1957 Criminal -.----------------------------1,027 1,404 3,440 3,470 4,467 4,874 civil----------------------------------52 4 35 18 87 22 Total._._-------------------------------1,079 1,408 3,475 3, 488 4, 554 4, 896 Disposition of criminal cases: Conviction---------------------------919 1,250 3,097 3,156 4,016 4,406 Acquittal .------------------------------35 43 90 121 125 164 Dismissal-------------------------------26 71 132 93 158 164 held for District Court ------------------47 40 121 100 168 140 Total--.---------------------------1,027 1,404 3,440 3,470 4,467 4,874 Convictions in which execution of sentence was suspended and defendants placed on probation-------------------------------78 98 216 293 294 391 Rearrested for violating terms of probation-.6 3 19 27 25 30 Fines imposed -------------------------$10,822 $15,295 $28,129 $30,250 $38,951 $45,545

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CANAL ZONE GOVERNMENT 29 PARDON BOARD The Pardon Board, consisting of 5 members appointed by the Governor, acts in an advisory capacity in consideration of requests submitted by prisoners for executive clemency. The board considered 48 applications for executive clemency during the year, all of which were for commutation of penitentiary and jail sentences to the portion already served. The Governor granted clemency in six of the cases. The board also considered and submitted recommendations on three applications for revocation of orders deporting persons following service of sentences of imprisonment. None of these applications were granted by the Governor. FIRE PROTECTION Under the consolidation of all Federal Government structural firefighting facilities in the Canal Zone, the Canal Zone Government Fire Division is responsible for all fire protection and fire prevention and for certain lifesaving and rescue operations in the civilian communities of the Canal Zone and on ships in Canal waters; for structural firefighting on military reservations and for fighting brush fires and fires at outlying military sites on the Canal Zone. With the closing of the fire station at Madden Wye on June 28, 1958, there remained in operation 14 stations, 8 on the Pacific side and 6 on the Atlantic side. At the close of fiscal year 1958 there remained 5 volunteer fire companies, each consisting of 10 men. At the request of Panamanian officials on January 16, 1958, the Canal Zone Fire Division cooperated in the control and extinguishing of a major fire which occurred in the San Miguel section of Panama City. Statistics on firefighting operations follow: Fiscal year 1958 Fiscal year 1957 Number Property Number Property of fires loss of fires loss Panama Canal Company ._.--.265 $2, 994 378 $2, 557 Canal Zone Government ---.-.-. 8 239 8 123 Armed Forces.-----------------260 23,851 314 168,859 Private (including ships) -.--. 62 44, 715 68 271, 682 Total --------------------595 $71, 799 768 $443, 221 Fiscal year Fiscal year 1958 1957 Calls for emergency aid -------------------------111 96 Value of property involved in fires-----------$16, 749, 018 $24,067,026 CIVIL DEFENSE During the year a new Civil Defense and Disaster Relief Plan, establishing civil defense responsibilities within the present normal operating organization of the Company/Government, was approved. Two national alert exercises were held during the fiscal year-in July 1957 and May 1958. In the 1957 exercise over 500 Company/ Government employees took part in the activities on each side of the isthmus, together with 100 members of the volunteer corps. The three control points were mobilized aud the technical problems

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130 PUBLIC ORDER AND PROTECTION presented by the exercise were resolved. In the May 6, 1958, activities, Opal 58, a preparedness exercise was held in the Canal Zone; this is the first activity under the new Civil Defense and Disaster Relief Plan. Plans for the main control center to be located in the Administration Building at Balboa Heights were approved and invitations for bids on its construction were advertised in June 1958. During the year this unit was successful in obtaining funds and supplies from the Federal Civil Defense Administration (FCDA); however, such assistance was, discontinued effective July 1, 1958, as a result of a Bureau of the Budget ruling. The survival plan study approved by the Governor and the Federal Civil Defense Administration was eliminated as a result of this decision of the Bureau of the Budget. During the fiscal year 1958 the civil defense unit participated in two emergency operations occurring in the Republic of Panama. As a result of the disastrous fire in the San Miguel area, Panama, on January 16, 1958, this unit was called upon to handle liaison between Panamanian officials and the Canal Zone agencies and organizations, and aided in the collection of necessities for the destitute. Again, on May 19, 1958, the Civil Defense Welfare Service of the unit was called upon to provide emergency food and shelter for Canal Zone employees residing in Panama who could not reach their homes as a result of the rioting and civil disturbance that caused a state of siege in Panama.

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(ex/ta/Zp' IV POSTS, CUSTOMS, AND IMMIGRATION POSTAL SYSTEM The postal system made substantial changes in public service and internal operations during the year. Principal changes in service to the public included the discontinuance of postal units at Coco Solo and Fort Davis in November and December 1957 as a result of the deactivation of the Naval Station, Coco Solo, and the post of Fort Davis. All activities previously performed at the Coco Solo unit were transferred to the main post office at Cristobal. Effective February 24, 1958, a branch of the Cristobal post office was established at Fort Gulick, C.Z., to serve Headquarters Atlantic Area, U.S. Army Caribbean, the military Latin American School for Ground Forces, military personnel stationed in the Atlantic area, and civilian personnel residing at Fort Gulick. In August 1957, the mail-handling subunit at Tocumen Airport was closed and the air carriers took over the transportation of incoming and outgoing mails between the airport and the mail handling unit, Balboa. This arrangement permits use of all available flights and reduced the cost of truck transportation of air mails. A 3-cent postage stamp commemorating the 75th anniversary of the opening of Gorgas Hospital was issued on November 17, 1958. Operations for the past 2 fiscal years are summarized in the following table: Fiscal year Receipts: Sale of postage stamps, stamped paper, box rents, 1958 1957 and permit handling ------------------------$607, 177 $642, 384 Interest on investments of postal savings ---------167, 000 166, 057 Money order fees collected ----------------------44, 759 40, 754 Other receipts ---------------------------------10, 321 9, 400 Total receipts -------------------------------829, 257 858, 595 Statistics relative to the physical volume of the operations of the Canal Zone Postal System for the past 2 fiscal years are covered in the following table: Fiscal year Registered, certified, and insured articles handled: 1958 1957 Number sent ----------------------------------89, 955 96, 816 Number received ------------------------------111, 013 129, 404 Dispatches of surface mail handled: Number sent ----------------------------------2, 034 2, 062 Number received------------------------------2, 999 2, 972 Dispatches of airmail handled: Number sent.----------------------------------11, 398 11,665 Number received------------------------------18, 267 18, 200 131L

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132 POSTS, CUSTOMS, AND IMMIGRATION CUSTOMS, IMMIGRATION, AND SHIPPING COMMISSIONER SERVICES There were no significant changes in plant or functions in the Customs Division throughout the year. The tabulation shown below indicates decreases in all functions noted except in the number of passengers disembarking from vessels, and the number of U.S. seamen discharged or signedon. The average daily census of immigration cases and the number of detention-days at the Corozal station decreased from 13.7 persons in 1957 to 11.1 persons daily in 1958. Contraband irregularities, resulting from purchases in the Canal Zone by unauthorized persons, excessive purchases, and trespassing in retail stores, were again substantially reduced as a result of the effects of certain treaty provisions. The following is a statistical summary of the more important items handled by the customs and immigration operation during the fiscal year 1958, together with comparative figures for fiscal year 1957: Fiscal year 1958 1957 Vessels entered from sea ----------------------------10, 677 11,299 Passengers disembarked, vessels---------------------15, 510 14, 004 Passengers disembarked, aircraft --------------------14, 258 14, 324 U.S. seamen discharged or signed on ------------------1, 234 1, 185 Other seamen discharged or signed on----------------4, 178 4, 451 Number of detention-days, immigration station.-------4, 033 4, 984 Contraband irregularities investigated ---------------321 634 VISAS During fiscal year 1958, 462 visas were issued by the executive secretary to alien residents of the Canal Zone traveling to the United States. Of these, 4 were quota immigrant visas, 285 were nonquota immigrant visas, and 173 nonimmigrant visas. Fees collected for visas amounted to $7,233.

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LICENSES, INSURANCE, AND ESTATES LICENSES On July 1, 1957, the operations of the License Section and the Land License Unit of the Civil Affairs Bureau were consolidated. The activities of the new License Section are under the supervision of the former chief of the Land License Unit. The mission of the section is to issue, administer, and effect collection of the appropriate fees for vehicular, land, and miscellaneous licenses and permits assigned to the section in conformity with all existing laws, treaties, regulations, policies, and tariffs. Principal types of licenses handled during the fiscal year 1958 as compared with the corresponding figures for fiscal year 1957 are shown below: Fiscal year 1958 1957 Vehicle licenses------------------------------------13,303 13,310 Motor vehicle operators' licenses and permits.---------13,986 17,419 Vehicle registrations transferred----------------------2,936 3,231 Dog licenses--------------------------------------2,055 1,965 Land licenses in force at year's end.------------------740 775 Annual revenue.----------------------------------$187,818 $192,748 INSURANCE The license fee for insurance companies doing business in the Canal Zone is $10 per year, with a tax of 1% percent on premiums collected. At the end of the fiscal year, 32 companies were licensed to write insurance in the Canal Zone. Life insurance companies reported that, as of December 31, 1956, 4,309 policies were in force. During calendar year 1957 a total of 366 policies were issued, while 722 were canceled, leaving a total of 3,953 with an aggregate value of $17,329,045 in force as of December 31, 1957. Premiums collected on life insurance during calendar year 1957 totaled $440,963. Claims settled during the year amounted to $19,750. During calendar year 1957, premiums received by miscellaneous insurance companies included accident, automobile, liability, fire, surety, fidelity, etc., but excluding life insurance,, amounted to $842,328. Losses paid during the year totaled $281,388. The tax of 1% percent on premiums paid by all classes of insurance companies amounted to $19,238 in comparison with $18,270 the previous fiscal year. 133

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134 LICENSES, INSURANCE, AND ESTATES ADMINISTRATION OF ESTATES This fiscal year the number of estates settled by the Public Administrator again decreased as a result of Public Law 347, 83d Congress, which simplified the method of payment of moneys due deceased Government employees. Comparative statistics are shown below: Fiscal year 1958 1957 Number of estates settled---------------------------15 20 Assets handled------------------------------------$4, 126 $21, 846 Commissions--------------------------------------None $792 FOREIGN CORPORATIONS The licensing of foreign corporations to do business in the Canal Zone is shown below. Insurance companies, steamship lines and agencies, contractors, and other corporations are included in this group. Fiscal year 1958 1957 Foreign corporations licensed---.------------------172 148 Licenses and filing fees collected---------------------$1, 720 $1, 480

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%t6 ec VI MUNICIPAL IMPROVEMENTS ROADS, STREETS, AND SIDEWALKS Construction and maintenance forces of the Panama Canal Company provided services during the year on regular maintenance of roads, streets, and sidewalks, and the maintenance of the BoydRoosevelt Trans-Isthmian Highway. A combined length of 118.94 miles of streets and highways was maintained within the Canal Zone, and 45.81 additional miles composing the Boyd-Roosevelt Highway. In addition to the planned repairs on the highway, heavy slides had to be corrected during the year. MAINTENANCE OF QUARTERS, HOSPITALS, AND PUBLIC BUILDINGS Routine and special maintenance of all Company/Government owned quarters, hospitals, public buildings, steamplants, and all refrigeration equipment was accomplished throughout the year. SEWER SYSTEM Panama Canal Company forces performed regular sewer maintenance during the year on 176.58 miles of sanitary sewers and storm drains, consisting of cleaning and flushing lines, removing obstructions, replacement of defective piping, and the maintenance of six .sewer pumps, comminutor, and treatment plant. 135

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yt+ VII FINANCIAL REPORT AND STATISTICAL DATA FINANCIAL STATEMENTS AND RELATED SUPPLEMENTARY REPORTS FOR THE YEAR ENDED JUNE 30, 1958 Presented herewith are the financial statements of the Canal Zone Government for the year ended June 30, 1958. These statements, which appear on tables I through 4, fairly present the financial condition of the agency at June 30, 1958, and the financial results of its operation for the fiscal year then ended. The accompanying statements have been examined by the internal audit staff of the Panama Canal Company and are subject to audit by the General Accounting Office. Activities of the agency are financed by congressional appropriation. Operating appropiations are available for obligations only inl the year for which the appropriations are made. Capital appropriations are available until expended. The agency's operating accounts are kept on an accrued cost basis, including depreciation of fixed assets, in accordance with generally accepted accounting principles, while the status of appropriated funds is determined on an obligations incurred basis in accordance with Government requirements. The agency's revenues arise from charges to individuals and other Government agencies using certain of its services. All revenues thus received are turned into the U.S. Treasury as miscellaneous receipts. Tile excess of total accrued costs, including depreciation, over revenues is payable to the U.S. Treasury by, and treated as an expense of, the Panama Canal Company in accordance with the requirements of section 246 of title 2 of the Canal Zone Code, as amended. All operating and capital appropriations expended 'by the Canal Zone Government are thus eventually repaid to the U.S. Treasury. The agency also operates a postal savings and international money order system for the convenience of Canal Zone residents. Funds from this source are invested in U.S. Government securities at rates of interest that cover the 2-percent interest paid to depositors and expenses of the service. Invested capital Invested capital consists of fixed assets and inventories of material and supplies less allowances for depreciation and obsolescence of fixed assets, and less tile potential liability for employees' accrued leave, which under the law is not an obligation against appropriated funds until paid. During the year, properties with an appraised market value of $994,500 were transferred from Canal Zone Government to the Republic of Panama, in accordance with terms of the 1955 treaty between the United States and the Republic of Panama. The excess 136

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CANAL ZONE GOVERNMENT 137 of market over book value, in the amount of $372,540, was transferred to retained revenue of the Panama Canal Company and applied as a reduction of amounts due the U.S. Treasury under statutory obligations of section 246 of title 2 of the Canal Zone Code. Table 2 shows the status of this fund and appropriated funds at the beginning and end of the year, and summarizes the changes which occurred during the year. Capital additions Capital additions for the year amounted to $838,177. Total depreciation for the year exceeded plant additions by $157,768. Further details appear on table 4. Financial results The net cost of operating Canal Zone Government amounted to $10,737,194 for the fiscal year ended June 30, 1958, as compared to $10,135,514 for the preceding fiscal year 1957. The principal factor causing this net increase in costs between the 2 years was the. pay increase granted in July of fiscal year 1959, retroactive to January 1958. This retroactive expense is reflected in the accounts as of June 30, 1958. As in the preceding year, net costs, as indicated above, were absorbed as expense of the Panama Canal Company. Further details are set out in table 3 of the accompanying financial statements. 495687-59-10

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139 FINANCIAL REPORT AND STATISTICAL DATA Table IStatement of Financial Condition, June 30, 1958 Assets CURRENT ASSETS: Fund balances with U.S. Treasury and cash: Fund balances in U.S. Treasury checking account----------------------------$4,917,713 Cash on hand and in transit ------------124, 582 65, 042, 295 U.S. Treasury bonds and notes at cost (postal savings and money order funds). (Par value, $6,250,000; market value, $5,967,800).---------.------6, 249, 688 Accounts receivable: U.S.Governiment agencies---------------452, 065 Others-------------------------------194, 283 Accrued interest receivable on postal fund investments_---.--------------------22,940 669, 288 Inventory of hospital supplies-------------------------137, 382 Other current assets.----.--.------------.---------------9,134 Total current assets--------------------------------12, 107, 787 FIXED ASSETS (table 4): Cost------------------------------------44,847,909 Less depreciation and valuation allowances----15, 174, 505 29, 673, 404 41, 781, 191 NOTE.-The Canal Zone Government has outstanding commitments in the amount of $908,000 under uncompleted construction contracts and unbilled purchase orders, and an estimated liability of about $147,000 for relief payments to be made to retired alien employees in fiscal year 1959.

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CANAL ZONE GOVERNMENT 139 Table 1.-Statement of Financial Condition, June 30, 1958-Continued Liabilities and Equity CURRENT LIABILITIES: Accounts payable: Panama Canal Company ---------------$1,387,436 Revenues and other recoveries due U.S. Treasury---------------------------1, 130, 952 Other U.S. Government agencies ---------298, 797 $2, 817, 185 Postal money orders payable----------------375,356 Less advance deposits with U.S. Post Office Department -------------------------178, 247 197, 109 Postal savings deposited: Savings certificates outstanding ---------5, 713, 285 Accrued interest payable ----------------258, 879 o, 972, 164 Accrued liabilities: Salaries and wages----------------------725, 910 Others --------------------------------146, 851 872, 761 Other current liabilities--.---------------------------48,018 Total current liabilities-----------------------------9,907, 237 EMPLOYEES' ACCRUED ANNUAL LEAVE (unfunded) ---------1,763,899 EQUITY oF U.S. GOVERNMENT (table 2): Operating funds ----------------------------108, 549 Capital funds-----------------------------1, 954, 619 Invested capital ------------------------28, 046, 887 30, 110, 055 41, 781, 191

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3A6 FINANCIAL REPORT AND STATISTICAL DATA TABLE 2.-Statement of Changes in Equity of U.S. Government, Year Ended June 30, 1958 Operating Capital Invested EQUITY AT JUNE 30, 1957: Total funds funds capital Unobligated funds ---------------------------$1,598,755 ---------$1,598,765 .-. Obligated funds ..-------------------------------253,182 $52,252 200,930 -. Invested capital: Fixed assets, net ...-------------------------30,328,054 ------------------$30, 328,054 Inventories ...--------------------------------125,511 ---------.-------125,511 Unfunded liability for employees' accrued leave.-. (1,626,179) ------------------(1,626,179) Balance at June 30, 1957.---------------------30, 679, 323 52, 252 1, 799,685 28,827,386 INCREASES IN EQUITY: Appropriations by the Congress _-------------------17, 46% 500 16,468,500 1,000,000 .-.-. Excess of market over book value of properties transferred to Republic of Panama, Nov.7, 1957, under 1955 treaty----------------------------------372, 540 ----.--------------372,540 Transfers from other U.S. Government agencies, net: Various municipal facilities transferred from the Panama Canal Company ..----------------------155,199 ------------------155,199 17, 996, 239 16,468, 500 1,000, 000 527, 739 T>E-REASES IN EQUITY: Net cost of Canal Zone Government (table 3): Accrued funded operating expenses-----------16,344,233 16,344,233 .. Depreciation for the year---------------------995.945 ------.----------995,945 Increase in liability for employees' accrued leave. 137, 720 ------------------137. 720 Plant adjustments, net ------------------------6,037 ------------------6,037 17,483,935 16,344.233 ---------1,139,702 Recovery of costs.--------------------------6,746,741 6,746,741 -----------------Total net cost for year ------------------10,737,194 9,597,492 -----------1,139,702 Other decreases: Recovery of costs coverable into U.S. Treasury6,746,741 6,746,741. Transfers to other U.S. Government agencies, net: Water line, Palo Seco Leprosarium, transferred to the Panama Canal Company --------28, 696 ---------------28, 696 Market value of properties transferred to Republic of Panama, Nov. 7, 1957, under 1955 treaty----------------------------------994,500 -------------------994,500 Unobligated operating funds withdrawn by U.S. Treasury--------------------------------56,100 56,100. Adjustment of plant salvage coverable into U.S. Treasury.----------------------------------2,276 ------------------2,276 7, 828, 313 6, 802, 841 ---------1 025, 472 18, 565, 507 16, 400,333 ---------2, 165, 174 TRANSFERS BETWEEN FUNDS: Capital expenditures --------------------------------------------(821, 508) 821, 508 Removal costs on plant retirements ---------------------------------(23,568) 23,558 Increase in inventories -----------------------------------(11,870) ---------11,870 (11,870) (845, 066) 856,936 Net increase or decrease ------------------------(569, 268) 56, 297 154, 934 (780,499) EQUITY AT JUNE 30, 1958: Unobligated funds---------------------------1,155, 327 ---------1,155,327. Obligated funds -------------------------------907, 841 108, 549 799,292 .-. Invested capital: Fixed assets, net-------------------------29,673,404 ------------------29,673,404 Inventories--------------------------------137.382 ------------------137,382 Unfunded liability for employees' accrued leave -(1, 763, 899) ------------------(1, 763, 899) Balance at June 30, 1958---------------------30,110,055 108,549 1,954,619 28,046,887

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CANAL ZONE GOVERNMENT 1 Table 3.-Statement of Operations, Year Ended June 30, 1958 Accrued operating expenses Net cost of Other operations nonfund borne by charges Panama Funded Accrued and Canal Recoveries costs depreciation credits Total Company Civil Ft'xaioxs: Customs and immigration.$26, 342 $416, 875 $131 ---------$417,006 $390,664 Postal service---------------837,751 1,055,378 5,461 ---------1,060,839 223,088 Police protection------------10,130 1,545,509 28,569 ---------1,574,078 1,563,948 Fire protection.--------------655,959 992,373 26,806 $128 1,019, 307 363,348 Judicial system.------------40,336 65,371 1,139 ---------66,510 26,174 Education----------------1,732,245 3,184,641 146,756 ---------3.331,397 1,599,152 Public areas and facilities------------716,384 595,547 ---------1,311,931 1,311,931 Library--------------------.3,155 101,643 ------------------101,643 98,48, Internal security---------------------103,982 ------------------103,982 103,982 Other civil affairs: Office of Civil Affairs Director-------------------------61,331 37 ---------51,368 51,368 Civil defense---------------------19,480 753 ---------20,233 20,233 Motor vehicle licenses and other fees---------109,868 33,757 193 ---------33, 950 (75,918) Total civil functions -3,415, 786 8,286,724 805, 392 128 9,092,244 5,676,458 H EALTH AND SANITATION: Hospitals and clinics: Gorgas Hospital and clinics ---------------2, 191, 269 3, 561, 091 79, 768 153 3, 641, 012 1, 449, 743 Coco Solo Hospital and clinics.----------------679,279 1,256,987 47,646 ---------1,304,633 625,354 Corozal Mental Hospital. 34,916 494,121 11,296 ----------. 505,417 470,501 Palo Seco Leprosarim. 138,861 133,424 6,902 ---------140,326 1,465 Other public health services: Office of Health Director818 113,848 ------------------113, 848 113,030 Sanitation-----------------------321,376 2,982 ---------324,358 324,358 Garbage collection--------------119,000 --------------------. 119,000 119,000 Preventive medicine and quarantine.-----------2,938 89,351 --------------------89,351 S6,413 Veterinarian services----39,600 66,861 1,707 ---------68,568 28,968 Cemeteries, operation and maintenance----------18,486 44,197 1,165 ---------45,362 26,876 Total health and sanitation -------------3, 106, 167 6, 200, 256 151, 466 153 6, 351, 875 3, 245, 708 GENERAL ExPENSES: Office of the Governor.---------------60,311 ------------------60,31L 60,311 General and administrative expense ----------------------------750,000 ------------------750,000 750,000 Recovery from Armed Forces: Portion of general and administrative expenses-consolidation of firefighting facilities--------------------90,125 ------------------------------------0, 125) Net increase in employees' accrued leave ----------------------------------------137, 720 187,720 137,720 Recruitment and repatriation -----------------------------82,450 ------------------2,450 82,450 Employees' borne leave travel ----------------------------246, 701 ------------------246, 701 246, 701 Government buildings and Aites r .eli.ef: 125,254 156,173 23,240 101 179,514 54,260 Expenses------------------------137,975 --------.--------137,975 137,975 Distribution at normal rates to operating activities ------------------------(134,339) -.----------------(134,339) (134,339) Furniture pool operations: Expenses------------------------34,685 9,186 ---------13,871 43,871 Distributed to operating activities ------------------------(44,651) ------------------(44,651) 44,651) Canal Zone Government contribution to Federal employees' group life insurance fund y-----------------------------21,934 -----------------21,934 21,934 Dahand disability comReractiven --------------------------18,095 -.----------------L8,095 18,095 Retoaciveand other compensation adjustments-------------516,636 ------------------516,636 516,636 Miscellaneous charges and credits--------------------9,409 11,283 6,661 5,655 23,599 14,190 Total general expenses.-224,788 1,857,253 39,087 143,476 2,039,816 1,815,028 Total ---------------_ 6.746,741 16,344,233 995,945 143,757 17,483,935 10,737,194

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Table 4. -Changes in Fixed Assets and Related Allowances for Depreciation and Economic Valuation, Year Ended June 30, 1958 Fixed assets Allowances for depreciation and economic valuation Net book Balances Ralances Balances C rrent Balances value, June 80, Current AdjustRetireJune S0, Jane 30, depreciaAdjustRetireJ ne s0, June S0, LAND IMPROVEMENTS: 1957 additions onent8 Transfer8 ments 1958 1957 tion ments Transfers ments 1958 1958 Permanent townsites-----$6,391,231 $142,872 $1,229 ($3,246) -------$6,532,086 $1,783,658 $128,715 $172 ($725) -------$1,911.820 $4,620,266 Highways, -roads, streets, and sidewalks-----------13, 994, 191 34, 344 113, 156 (166,052) ($16, 850) 13, 958, 789 6,186,653 328, 421 10, 086 (123, 035) ($23,666) 6,378,459 7,580, 330 Sewer system-------------4,143,950 196,483 9,545 -_--(150) 4,349,828 897,272 104,SS6 1,073 --.----(699) 1,002.532 3.347,296 Street lighting system ---774,453 59,300 ----------(7,826) (8,140) 817,789 296,398 33,057 --------(6, 229) (7. 541) 315.685 502, 104 Fire hydrant system-------145,427 ---------47,189 (2,044) (612) 189,960 62,720 4,766 4,590 (1,536) (894) 69.646 120,314 2 Total land Improvements 25, 449, 254 432, 999 171, 119 (179, 168) (25, 752) 25,848,452 9,226,701 599, 845 15,921 (131,525) (32, 000) 9,078, 142 16,170,310 BUILDINGs AND EQUIPMENT: Stealth Bureau------------7,582,408 111,040 --.-------(273,658) (124,123) 7,335,667 2,020,720 151,466 -------(126,109) (12,231) 1,919,846 5,415,821 Schools Division ----------6,533,506 186, 909 ---------(109, 521) (4, 681) 6,606,213 1,556,969 146, 756 -------(53, 734) (9, 196) 1,640,295 4,965, 918 General offices and other buildings_----------------1,519,487 13,402 ---------259,604 (32, 722) 1,759,771 627,999 23,240 -------135,719 (37,812) 719,1 1,010,625 O Pollee Division------------530,638 15,661 ---------(18,773) (332) 527,194 202,891 28,569 -------(18,773) 1,71 214 46 312,788 Postal service---------------201,933----------------------------------201,933 71,122 5,461 ------------------------. 76. 12,350 Customs and Immigration239,183 ---------------------------239,183 238,419 131 ---------------------23, 550 633 Fire Division ----------_595, 973 5,768 (15) (14, 689) (3, 607) 581. 370 297, 781 22, 040 (8) (8, 798) (5, 667) 505, 549 276, 022 Magistrates' Courts-------56,840 -------------------------------56,80 21,610 1,139 -----------.--. ----22,749 34,091 Miseclianeous equipment. 848 -------------------------------848 253 84 ---------------------337 51 Experimental gardens-. 9,547 --------------------------------9,547 6,118 384 ---------------------6,502 3,045 License Section------------1,949 --------------------------------1,949 905 193 --. --. -.1,098 851 Civil Affairs Director -.-. 7,364 ------------------14,614 (3,264) 18,714 4,360 790 -8,787 (3,026) 10,911 7,803 -I Government furniture and equipment pool---------90,026 22,346 ----------------(553) 111,819 26,169 9,186 --------------(75) 35,280 76,539 0 Total buildings and equipment.-----------17, 369, 702 395, 126 (15) (142, 423) (171, 342) 17,451,048 5,071,316 389, 439 (8) (62, 908) (180,788) 5,221,051 12, 229,997 > FACILITIEs HELD FOR FUTURE USE-------_ -----------1,172,224 ---------(1,097,847) 321,591 ------. 395,968 389,542 6,661 (447,191) 194,433 (4,533) 138,912 257,056

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CONSTRUCTION AND RETIREMENTS IN PROGRESS: Construction work--------1,028,433 (6,617) (5,775) -------..1,016,041 -----------------------------------------------1,010,041 Z Retirements -----------------193, 339 16,6609 4,358 -------(77,966) 136,400 193,339 ---------------------(56,939) 136,400----------Total construction and N retirements in progress. 1,221,772 10,052 (1,417) -------(77,966) 1,152,441 193,339 ----------------------(56,939) 136,400 1,016,041 0 Totals------------------45, 212, 952 I 838, 177 (928, 160) -------(275, 060) 44,847,909 14,884,898 995, 945 (431, 278) -------(275, 060) 15, 174, 505 29, 673, 404 I Current expenditures.-.-.-.$821, 508 Removal costs, plant retirements---------23,557 845, 005 Less salvage credits ----------, 888 838, 177

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144 FINANCIAL REPORT AND STATISTICAL DATA STATISTICAL DATA Personnel data The U.S.-rate force of the Canal Zone Government numbered 1,143 as of June 30, 1958, in comparison with 1,141 on June 30, 1957. The non-U.S.-citizen force numbered 1,203 as of June 30, 1958, as coinpared with 1,168 on June 30, 1957. The increase in non-U.S.-citizen employees occurred in the Sanitation Division and was necessary to handle the intensified malaria control campaign. The number of full-time employees of the Canal Zone Government organization paid at U.S. and Canal Zone rates are shown in the following table: Number of Full-time Employees Paid at United States Rates As of June S0Canal Zone Government 1958 1957 Governor's office and staff ----------------.--------------18 18 Magistrates' Courts--.-.---------------------------------5 6 Civil Affairs Director---.----.------------------.-----7 8 Postal Division---.---. --.-------------------95 94 Customs Division-------.-----------------------49 48 Fire Division--.----------.-----.--------------.55 56 Police Division-.-----------------------------186 183 Libraries ----.-----.--.--.------------------9 8 Licenses-------------.---.----------------6 6 Schools---------------------------------------288 278 Health Director-----------------------------------9 9 Quarantine and preventive medicine-------------9 8 Hospitals and clinics ------------------------398 412 Sanitation.--------------------------------9 7 Total Canal Zone Government----------------1, 143 1, 141 Number of Full-time Employees Paid at Canal Zone Wage Rates As of June 80Canal Zone Government 1958 1957 Magistrates' Courts-----------------.-----------2 1 Civil Affairs Director: Customs Division.---------.------.-----------12 13 Fire Division--------.--------.----------.----141 147 Police Division ------------------.-----------39 39 Libraries.-------------------------------------5 4 Licenses-.-----.-----.----.-.----------------1 1 Schools------------------.---------.------247 230 Health Director: Quarantine and preventive medicine-------------6 6 Hospitals and clinics --------------------------626 639 Sanitation.------.-------------------------------124 88 Total Canal Zone Government.--.--1----. 1, 203 1,168

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CANAL ZONE GOVERNMENT PRESIDENT OF UNITED STATES I SECRETARY OF ARMY OFFICE OF GOVERNOR LIEUTENANT GOVERNOR] MILITARY ASSISTANT INTERNAL SECURITY EXECUTIVE TO GOVERNOR OFFICE SECRETARY MILITARY ASSISTANT CHIEF JA-SON RETWCCN THE PANAMA CANAL, DIPLOMATIC RELATIONS -3MPANY -4NAL 2ANC CO
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1 .1 I I ( I ( :1

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CANAL ZONE GOVERNMENT 145 Area of Canal Zone The total area of the Canal Zone as of June 30, 1958, with areas segregated for various purposes, is shown in the table below: Land area Square miles Air Force, Army, and Navy reservations (inclusive of licenses and letters of permission): Air Force -----------------------------------------14. 06 Army------------------------------------------114.70 Navy-------------------------------------------18.68 Total----------------------------------------------147. 44 Canal Zone townsites and areas outside of townsites in active use_----------------------------------------------------11.78 Miscellaneous assigned land areas: Barro Colorado Island -----------------------------5. 71 Madden Forest Preserve (excluding Madden Road).--. 5. 38 Cattle pastures.------------------------------------2.50 Commercial licenses (agricultural leases and garden plots) -2. 67 Total-----------------------------------------------16.26 Swamps.------------------------------------------------15. 14 Remaining usable land (largely mountain or jungles)------------181. 70 Total land area of the Canal Zone -------------------------372. 32 Water area Square miles Fresh water---------------.--------------------------186. 07 Tidewater (Atlantic and Pacific within 3-mile limit).--------89. 45 Total water area of the Canal Zone ---------------------275. 52 Total area of the Canal Zone ---------------------------647. 84 U. 5. GOVERNMENT PRINTING OFFICE: 1959 For sale by the Superintendent of Documents, U.S. Government Priuting.Office Washington 26, D.C. -Price $1

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UNIVERSITY OF FLORIDA 3 1262 08507 9738