22 .DOcux mTARY STORY or THzE FLnm CANAL

 TAum IV-Continued
 II. Savings in crgo factors:
 (a) edition in prent evaporation
 1a Ut u; shctng.oftwa------ 0 400
 (6) Interest saved on cargo in tran~it. -- 333,000
 SInsurance saved on argo, assuming that
 this is levied on a mileage bis-- -- 286,000
 $821,400
 III. Savings maintenance factors
 () ving in tanker corrosion --... .---- 530,000
 ) Saving in corrosion on other vesselsa----- 150,000
 ) Saving due to elimination of barnacles and
 ship weeds by fresh water of canal-..... 400, 000
 2,080, 000
 Grand total ......-------- ------ 15, 927, 500
 3CAlITULAW'ION
 I Saving in operating eost factors ----82------- ------- 13,026,100
 IL Savings in cargo cost factors ---------.............-- 821,400
 Partial total .------------.. --------.. ------.--.... 13,847, 500
 IIL Savings in maintenance cost factors....---.------. ----.. 2, 080,000
 Grand total estimated savings__------------------ --- 15,927, 500
 COMMODrrr STODInS
 52. A review of the foregoing will show that the estimated savings are based on
 the water-borne commerce of the Gulf ports as it actually existed in the year 1929.
 Much additional tonnage might well have moved by water that did not actually
 so move. Still other tonnage certainly would have moved by water under the
 advantageous conditions that would have been afforded by an efficient ship
 canal aeros Florida. For the purposes of this report special studies have been
 made of this potential commerce for the anal. These researches relate to the
 principal commodities of the Gulf trade, and under the general title of "Com-
 modity studies" are set out in division E of this report.
 53. The tonnage and the value thereof that might have moved but did not,
 and he movement that would have been stimulated by the waterway had it been
 in 2 lt0 mrbeIelaIlboed h ~ dBrti nee ateguaiaias "Possible", "Probable",
 and "Highly probable."
 A summary tabulation will be found in division D, exhibit 607, for 26 separate
 epmmodites including coal, petroleum, phosphate, pulp and paper products,
 lumber, cotton, four, sugar, and 18 others. The tonnages and values are as
 follows:
 Possible (1,060,000 tons) --------------- ----------------- $68, 000
 Probable (6,990,000 tons).------------------------------- 776,100
 Highly probable (2,789,000 tons)---------------------- ---- 3, 12, 000
 Total (10,779,000 tons) ----------------------------- 7, 538, 100
 54. In addition:
The increased passenger traffic benefits are evaluated at----------......... 960, 000
New business m phosphate mining, stimulated by the improved trans-
 port facilities and replacing Moroccan phosphates, is estimated at--. 1,169,000
 The grand aggregate benefit by reason of new water-borne
 traff thus amounts to----------...-----.-------.----- 9, 667,100
 55. The totals do not include possible tonnage movements of sand, gravel,
brick, stone, and oyster shell in local trade. The item of possible movement by
water of additional Alabama iron and steel to Atlantic coast ports, through lower
freight costs afforded by the canal, has not been included; nor has any account
been taken of a lrge tonnage in scra-iron-and-other commodities likely to pae
through the canal from South Atlantic ports to the Orient. There are grounds
for believing that this tonnage might be considerable.