B0eG oS : PANAMA RAIL ROAD COMPANY.

amounted to $20,561.38 and the expenses amounted to $16,467.48, leaving
a net revenue of $4, 093.90 as compared with $7,842.95 last year.

The capital investment in Rail Road real estate up to June 30, 1920,
amounted to $1,051,232.68 with $757,825.77 expended on uncompleted

improvements. The Land Agent submits the following:

A decided increase is shown in the amount of approximated land
rental-bills to be issued during the next fiscal year, for the City of Colon,
as compared with fiscal year 1918-1919, which cari be accounted for by
the fact that during the year just ended, fifteen lots were leased in the
newly created warehouse district, at an annual rental of $4,543.52, and
- thirty-eight lots in the new white residential district at an annual rental
- of $8,810.00.

The licenses for all the stable lots located on the south side of Ninth
Street, between “G” and “I’’ Streets, Colon, were cancelled during the
year by the direction of the Health Officer of Colon-Cristobal. The
major portion of the new stables now being built by the Panama Rail
“Road Company have been completed, and all draft and coach animals
of Colon, and all wagons, carts and coaches are now being stabled and
accommodated in the new buildings. These stables are located south of
--Sixteenth Street, between Reyes Alley and ‘‘G”’ Street.

A slight increase is shown in the amount of approximated rentals on
buildings, rooms and stores, Colon and Cristobal, accounted for by the
reason that two new storerooms were constructed out of two alleyways in
the Panama Rail Road’s concrete building, Colon, located an Eleventh,
Front and Bottle Alley, and have been leased at an annual rental of
$540.00
_ ‘The news agency contract ed during the fiscal year ending June

- 30, 1920. The Panama Rail Road Company advertised the News Agency
privilege on two occasions during the year, but it developed that no one
' eared to bid on the privilege covering all of the news-stands as provided

in the contract. As a consequence it was decided to lease the news-stands
separately. At the end of this fiscal year ending June 30, 1920, the news-
_ stands at Colon and Gatun were under lease at an annual rental of $480.00.
A license covering the occupancy of one additional lot on the Javillo
_ Fill District, Panama, owned by the Panama Rail Road Company, was
issued. The three lots occupied in this district are held under letters of

~ permission only, and are revocable on ten days’ notice in writing to the
respective licensees.

Lot 58014 Cash St., Colon, held by the Municipality of Colon atan

ee annual rental of $1.00. wee aicudercdl to the Panama Rail Road Com-

- pany, as the lot proved to be too small for the class of building they
desired to erect. By transfer, the Municipality of Colon secured from
the Republic of Panama the lease rights to a much larger lot located at
- the southeast corner of Seventh and Broadway which is owned by the
- Panama Rail Road Company. Lot 580) Cash Street was advertised for _
bids, and the highest received was $400. 00 per annum. Lease has accord- |
ingly been issued at that rate.

A warehouse district (bonded or unbonded) was opened dining the
-year; the district comprises 21 lots located in Block 54, Colon, situated
between Reyes Alley, “‘G’’, 15th and 16th Streets, and is divided into three
tiers of seven lots each. 14 of the 21 lots have a frontage upon a street
_ through which a spur track has been run north and south between two of
the tiers connecting with Broadway track to accommodate the handling