Items of Interest

The Republic of Panama has made a loan of $900,000 at four and one-half per cent on a large Broadway building in New York City. This sum is part of the $10,000,000 which the Panama Republic received from the United States for the Isthmian Canal concessions, and its representatives already have loaned out on mortgage nearly $1,500,000 on real estate in the same city. The republic's representatives have on hand $4,500,000 to invest in mortgages, and as soon as this sum is disposed of they will procure the balance of the concession money to dispose of in the same manner.

The city engineer of Manila has laid before the Secretary of War and the chief of the Bureau of Insular Affairs, plans for the proposed water supply and sewerage system for Manila. The plans have received the approval of the Municipal Board of Manila, and have been favorably reported upon to the Secretary of War by an eminent consulting engineer sent to the Philippines. The new water supply will be brought to the city of Manila by gravity, a distance of sixteen miles, at a cost of two million dollars. An issue of bonds to meet the cost to be incurred has been authorized.

August 13, 1904

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