DOCUMENTARY HISTORY OF THE FLORIDA CANAL 91

 The following quotations are from this report of the Engineering
Division of the Public Works Administration:
(Pp. 1, 2, and 3.)
 FMsa& I EM oENCs ADMINISTRATION OF PUBLIC WOBKS, PRIVATE PROJECTw
 DIv sION

 BrOBT ON LOAN APPLICATION

 (Docket R. F. C. No. 139. Application received Aug. 14, 1933)

 This application was originally filed with the Reconstruction Finance Cor-
poration on August 1, 192, by the National Gulf-Atlantic Ship Canal Associa-
tion, a private corporation. Under date of July 3, 1933, the Engineers' Ad-
visory Board of the Reconstruction Finance Corporation reported as follows:
"Status of project: Engineers' Advisory Board action: None. Director's Ac-
 tion: None. No engineering, legal, or financial reports.
 "Comments: On February 4, 1933, the board of directors decided that since
 this project was being studied by the United States Engineering Corps under
 instruction and with appropriation from Congress, no consideration of it
 should be made until the Engineering Corps had finished its work and filed
 its report."
 This application is now being considered as from the Ship Canal Authority of
 the State of Florida, a public corporation.
 1. APPLICANT

 The Ship Canal Authority of the State of Florida, Tallahassee, Fla., a public
 corporation.
 Correspondent.-Gen. Charles P. Summerall, chairman, The Citadel, Charles-
 ton, S. C.
 Counsel.-Stockton, Ulmer & Murchison, attorneys, Barnett National Bank
 Building.
 Engineers.-Buckman & Co., Jacksonville, Fla. (for National Gulf-Atlantic
 Ship Canal Association, prior applicant).
 2. PROJECT
 Type.-Ship canal.
 Desoription.-A ship canal from the Atlantic Ocean to the Gulf of Mexico,
 across the northern part of the Florida peninsula.
 Estimated cost.-Total, $115,000,000.
 Work schedule.-Work can be started within 45 days and completed within
 4 years.
 Employment.-1,500,000 man-weeks (30-hour week). (7,250 men for 4 years
 (208 30-hour weeks).)
 3. LOAN BRQUFasT

 No definite loan requested.
 4. LOAN REOOMMENDED

 One hundred and fifteen million dollars at 4 percent, 50-year term, secured
 by revenue bonds with grant of 30 percent of labor and material (approxi-
 mately $25,800,000); $115,000,000, at 4 percent, 60-year term, secured by revenue
 bonds, without grant.
 5. ENGINEERING CONSIDERATIONS

 Applicant.-The Ship Canal Authority of the State of Florida was created
 and incorporated by senate bill 459, Florida Legislature, 1933, approved May 12,
 1933, with power to acquire lands, construct, operate, and maintain a canal,
 levy tolls, issue bonds, etc.
 Present facilities.-There are no present facilities of this nature.
 Description of project.-This project contemplates the construction of a
 ship canal across the northern portion of the Florida peninsula. The western
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