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Receipts from unclaimed letters..

71,709.33

381,125,450.94

Expenditures.

Expenditures on ас

306,480,767.43 314,252,279.38

on

ac

count of years

previous

13,357,950.97 10,581,449.09

Total during year... 319,838,718.40 324,833,728.47
Excess of revenues

6,138,197.42

450,412.56

6,588,609.98

nues

Revenues from money

order business..

Revenues from

savings business.

1917.
1918.
$321,947,594.33 $381,125,450.94

Total revenues from
all sources...... 329,726,116.36 388,975,962.24

count of the current

year

Expenditures

over expenditures... 9,887,397.96 64,142,233.77

Total postal revenues..

Money order revenues: Revenues from
domestic and international money
order business.

Revenues from invalid money or-
ders

Total money order business..
Revenues from postal savings busi-
ness

1,261,901.32 Total revenues from all sources.. 388,975,962.24

UNITED STATES STEEL CORPORATION FINANCES.
Income account for the calendar years 1917 and 1916.

Earnings: Before charging interest on bonds and mortgages

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Less, appropriated from net income on account of expenditures made and to be made on authorized appropriations for additional property, new plants and construction.... Balance carried to undivided surplus.....

*Balance of earnings after making allowances for estimated amount of federal income and war excess profits taxes.

55,000,000.00

52,505,437.54 201,835,584.63

Balance

THE PANAMA CANAL.

CANAL STATISTICS (OFFICIAL). Length from deep water to deep water-50.5 miles. Length on land-40.5 miles.

Length at summit level-31.7 miles.
Bottom width of channel-Maximum, 1,000 feet;
minimum (in Gaillard cut), 300 feet.
Depth-Minimum. 41 feet; maximum. 45 feet.
Summit level-85 feet above mean tide.
Locks in pairs-12.

Locks, usable length-1.000 feet.

Locks, usable width-110 feet.

Gatun lake, area-164 square miles.

Gatun lake, channel depth-85 to 45 feet.
Concrete required-5,000,000 cubic yards.
Time of transit through canal-10 to 12 hours.
Time of passage through locks-3 hours.
Length of relocated Panama railroad-46.2 miles.
Canal Zone area-About 448 square miles.
Canal Zone area owned by United States-About
322 square miles.

French buildings acquired-2,150.
French buildings used-1,537.

Value of utilized French equipment-$1.000.000.
Cubic yards excavated by French-108,046,960.
Cubic yards excavated by Americans-250,000,000.
Canal force, average at work-About 39.000.
Approximate cost of construction-$375,000,000.
PANAMA CANAL OFFICIALS.
Governor-Col. Chester Harding, U. S. A.
Executive Secretary-C. A. McIlvaine.
Chief Division of Civil Affairs-Crede H. Cal-
houn.

Chief Division of Police and Fire-Guy Johannes.
District Attorney-Charles R. Williams.
Department Headquarters-Balboa Heights, Canal
Zone.

Electrical Engineer - Lieut.-Col. T. H. Dillon, U. S. A.

Marine Superintendent-Commander Leonard R. Sargent, U. S. N.

Resident Engineer, Division of Dredging-W. G. Comber.

Superintendent Mechanical Division-R. D. Gatewood, U. S. N.

Resident Engineer Building Division-Hartley
Rowe.

Chief Quartermaster-R. K. Morris.
Auditor-H. A. A. Smith.

Chief Health Officer-Maj. A. T. McCormack,
U. S. A.

Chief Quarantine Officer-Dr. M. C. Guthrie, U. S. P. H. S.

Washington Office.

General Purchasing Officer and Chief of OfficeA. L. Flint.

Assistant to Chief of Office-Ray L. Smith.

Courts.

District Judge-John W. Hanan.

Clerk-E. L. Goolsby.

Papers transferring canal to the United States signed in Paris April 22, 1904.

Bill for government of Canal Zone passed by the senate April 15, 1904; passed by the house April 21; approved April 26.

Canal property at Panama formally turned over to the United States commissioners May 4, 1904. Work begun by Americans May 4, 1904. President outlines rules for the government of the Canal Zone and war department takes charge of the work May 9, 1904.

Gen. George W. Davis appointed first governor of Canal Zone May 9. 1904.

John F. Wallace appointed chief engineer May 10, 1904: resigned June 29, 1905.

Republic of Panama paid $10,000,000 May 21, 1904. First payment on $40,000,000 to French canal company made May 24, 1904.

Lorin C. Collins appointed Supreme court judge

for Canal Zone June 17, 1905.

New commission with Theodore P. Shonts as chairman named April 3, 1905; Shonts resigned March 4, 1907.

John F. Stevens appointed chief engineer June 29. 1905: resigned Feb. 26, 1907.

Lieut. Col. George W. Goethals appointed chief engineer Feb. 26. 1907.

Gatun dam finished, June 14, 1913.

Dry excavation completed, Sept. 10, 1913.

First vessel lifted through Gatun locks, Sept. 26. 1913.

Gamboa dike blown up, Oct. 10, 1913.

First vessels pass through Miraflores locks, Oct. 14. 1913.

Permanent organization of canal administration in effect April 1, 1914; Col. George W. Goethals first governor; existence of isthmian canal commission ended.

First freight barges go through canal from ocean to ocean May 14, 1914.

First steamship (the Cristobal) passes through canal Aug. 13, 1914.

Canal opened for general traffic Aug. 15, 1914. Canal blocked by slides, September, 1915, to April, 1916.

TRAFFIC STATISTICS. Fiscal years ended June 30. 1914-15. 1916. 787 2,479,761 3,140,046

1917.

Number vessels..... 1,088 Net tonnage.

3,843,035

1,876 6,009,358

Tons of cargo..

4,969,792

7,229,255

Tolls

.$4,358,002 $2,399,830 $5,631,781

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CHRONOLOGY.

First exploration of route 1527. Advocated by Humboldt 1803.

Panama railroad built 1850-1855.

1916 1917

.$4,358,002.37 $4,289,159.00 2,558,542.38 6,999,750.15 5,808,398.70

LABOR FORCE.

6,788,047.60

April 24, 1918, the actual working force on the canal was 20,939, of whom 17,620 were silver and 3,319 gold employes, the latter being almost

Panama canal company formed by De Lesseps 1879. exclusively white Americans.
Work on canal begun Feb. 24. 1881.

Canal company failed Dec. 11, 1888.

De Lesseps and others sentenced to prison for fraud Feb. 9, 1893.

New French canal company formed October, 1894. De Lesseps died Dec. 7, 1894.

Hay-Pauncefote treaty superseding the ClaytonBulwer treaty signed Nov. 18. 1901: ratified by senate Dec. 16: ratified by Great Britain Jan. 20. 1902.

Canal property offered to the United States for $40,000,000 Jan. 9. 1902; accepted Feb. 16. 1903. Bill authorizing construction of canal passed by house of representatives Jan. 9. 1902: passed by senate June 19, 1902; approved June 28, 1902. Canal treaty with Colombia signed Jan. 22, 1903: ratified by Senate March 17, 1903; rejected by Colombia Aug. 12. 1903.

Revolution in Panama Nov. 3, 1903.

Canal treaty with Panama negotiated Nov. 18. 1903: ratified by republic of Panama Dec. 2, 1903: ratified by United States senate Feb. 23. 1904. Canal commissioners appointed Feb. 29, 1904.

CANAL ZONE.

square

The Canal Zone contains about 448 miles and in June, 1918, had a total population of 21,707. It begins at a point three marine miles from mean low water mark in each ocean and extends for five miles on each side of the center line of the route of the canal. It includes the group of islands in the Bay of Panama, named Perico. Naos, Culebra and Flamenco. The cities of Panama and Colon are excluded from the zone, but the United States has the right to enforce sanitary ordinances and maintain public should not be able to do so. order there in case the republic of Panama

PANAMA RAILROAD.

The Panama railroad and the steamships run in connection with it between New York and Colon are owned and operated by the United States government. It practically parallels the canal nearly the whole distance. It is 46%1⁄2 miles long and runs between the cities of Colon and Panama.

UNITED STATES PENSION STATISTICS. PENSIONS AND PENSIONERS BY YEARS Widows, minor children and deSINCE 1866.

34,502,163.06 242,755 57,624,256.36 250,802 51,655,464.99 268,830 55,779,408.06 285,697 63,019,222.10 303,658 60,747,568.47 322,756 68,564,513.46 345,125 67,336,159.51 365,783 77,506,397.99 406,007 82,465,558.94 452,557 92,309,688.98 489,725

Paid as No. of penpensions. Expenses. Total. sioners. 1866..$15,450,549.88 $407.165.00 $15,857,714.88 126.722 1867.. 20.784,789.69 490,977.35 21,275,767.04 155.474 1868.. 23.101,509.36 553,020.34 23,654,529.70 169,643 1869.. 28,513,247.27 564,526.81 29,077,774.08 187,963 1870.. 29,351,488.78 600,997.86 29,952,486.64 198 686 1871.. 28,518,792.62 863,079.00 29,381,871.62 207.495 1872.. 29,752,746.81 951,253,00 30,703,999.81 232,229 1873.. 26,982,063.89 1,003,200.64 27.985,264.53 238,411 1874.. 30,206,778.99 966.794.13 31,173,573.12 236,241 1875.. 29,270.404.76 982,695.35 30,253,100.11 234,821 1876.. 27,936,209.53 1,015,078.81 28,951,288.34 232,137 1877.. 28.182.821.72 1,034,459.33 29,217,281.05 232,104 1878.. 26.786.009.44 1,032,500.09 27.818,509.53 223,998 1879.. 32,664,428.92 837.734.14 1880.. 56,689,229.08 935,027.28 1881.. 50,583,405.35 1,072,059.64 1882.. 54,313,172.05 1.466,236.01 1883.. 60.427,573.81 2,591,648.29 1884.. 57,912,387.47 2,835,181.00 1885.. 65,171,937,12 3,392,576.34 1886.. 64,091,142.90 3,245,016.61 1887.. 73,752,997.08 3,753,400.91 1888.. 78,950,501.67 3,515,057.27 1889.. 88,842,720.58 3,466,968.40 1890..106,093,850.39 3,526,382.13 109,620,232.52 537,944 1891..117,312,690.50 4,700.636.44 122,013,326.94 676,160 1892..139,394,147.11 4.898,665.80 144,292,812.91 876,068 1893..156,906,637.94 4,867,734.42 161,774,372.36 966,012 1894..139,986,726.17 3,963,976.31 143,950,702.48 969,544 1895..139,812,294.30 4.338,020.21 144,150,314.51 970,524 1896..138,220,704.46 3.991,375.61 142.212,080.07 970,678 1897..139.949.717.35 3,987,783.07 143,937,500.42 976,014 1898..144,651,879.80 4,114,091.46 148,765,971.26 993,714 1899..138,355,052.95 4,147,517.73 142,502,570.68 991,519 1900..138,462,130.65 3,841,706.74 142,303,887.39 993,529 1901..138,531,483.84 3,868,795.44 142,400,279.28 997.735 1902..137.504,267.99 3,831,378.96 141,335,646.95 999.446 1903..137,759,653.71 3,993,216.79 141,752,870.50 996,545 1904..141,093,571.49 3,849,366.25 144,942,937.74 994,762 1905..141.142.861.33 3.721.832.82 144,864,694.15 998.441 1906..139.000,288.25 3,523,269.51 142,523,557.76 985.971 1907..138,155,412.46 3,309,110.44 141,464,522.90 967.371 1908..153,093,086.27 2.800.963.36 155,894,049.63 951,687 1909..161.973.703.777 2,852,583.73 164,826,287.50 946.194 1910..159,974,056.08 2,657,673.86 162,631,729.94 921,083 1911..157,325,160.35 2,517,127.06 159,842,287.41 892,098 1912..152,986,433.72 2,448,857.31 155,435,291.03 860.294 1913..174,171,660.80 2.543.246.59 176.714.907.39 820.200 1914..172.417.546.26 2.066.507.15 174.484.053.41 785,239 1915..165,518,266.14 1,779,860.30 167,298,126.44 748,147 1916..159,155,090.00 1,656,722.33 160,811,812.33 709,572 1917..160,895,054.00 1,562,854.96 162,457,908.90 673,111 1918..179,835,328.75 1,527,615.61 181,362,944.36 646,895

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pendents:

1917.. 1918..

The largest number of civil war soldiers on the roll was in 1898 The largest number of civil war widows on the roll was in 1912 War of 1812 widows surviving June 30, 1918.

War with Mexico, June 30, 1918: Survivors

Widows

War with Spain:

20,130

18,412

745,822

304,373

99

289

3,064

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sickness and burial, for 1917.$226,982.56 Amount allowed, expenses of last sickness and burial, for 1918. 237,113.35 Medal-of-honor roll (act April 27,

1916):

357

Total number entered on roll... PENSIONERS ON THE ROLL JUNE 30, 1918, AND JUNE 30, 1917.

Classes.

Regular establishment:

Invalids

Widows

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Minor children

Brothers, sisters, sons and

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daughters

Widows

298.035

Helpless children

5

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Civil war:

Minors

2,586

Act Feb. 6, 1907

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1,024 1,345

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.266,443 291,268

General law

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Civil war widows on roll June 30:

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211 47,491

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1918..

288,815

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COST OF LIVING IN THE UNITED STATES.

RETAIL PRICES OF FOOD. According to the bureau of labor statistics of the United States department of labor, all food combined showed an increase in price of 59 per cent for the five-year period July 15, 1913, to July 15, 1918. For every article for, which prices are secured by the bureau there was an increase of 50 per cent and more in the five years and for four articles the increase exceeded 100 per cent, as follows: Meal, 123 per cent; potatoes, 105 per cent; lard, 104 per cent; flour, 103 per cent. The following table shows the average retail prices of certain articles of food on July 15 of 1917 and 1918 and the per cent of increase (+) in 1918 as compared with 1913. Where the relative price in 1918 is not shown it is because the prices for the articles in question were not secured by the bureau in 1913:

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Sirloin steak.

Round steak

.306

Rib roast.

.257

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+ 59 .403 + 73 .333 +66 .291

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All combined. The unit for each article is one pound except as to eggs. where it is one dozen, bread a loaf of 16 ounces and milk one quart. DUN'S INDEX NUMBER.

According to the index number compiled by Dun's Review the general level of prices as determined by wholesale commodity quotations was nearly 93 per cent higher on Sept. 1, 1918, than at the beginning of the European war. Monthly comparisons of Dun's index number for the first nine months of 1918 follow:

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Breadstuffs include quotations of wheat, corn, oats, rye and barley, besides beans and peas; meats include live hogs, beef, sheep and various provisions, lard, tallow, etc.; dairy and garden include butter, eggs, vegetables and fruits; other foods include fish, liquors, condiments, sugar, rice, tobacco, etc.; clothing includes the raw material of each industry. and many quotations of woolen, cotton and other textile goods, as well as hides and leather: metals include various quotations of pig iron and partially manufactured and finished products, as well as minor metals, coal and petroleum. The miscellaneous class embraces many grades of hard and soft lumber, lath, brick, lime, glass, turpentine, hemp, linseed oil, paints, fertilizers and drugs.

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Miscel

Total.

Clothing. Metals. laneous. $40.880 $29.273 $32.294 $222.175 42.384 29.584 32.858 227.020 29.914 33.118 227.977 29.508 33.720 230.313 29.880 34.420 226.665 29.936 34.556 224.843 30.170 35.349 232.575 44.285 30.345 35.735 232.058 44.739 30.609 36.056 232.882

NATIONAL INDUSTRIAL CONFERENCE BOARD REPORT.

The national industrial conference board, an organization formed in November, 1916, to improve industrial conditions, in October, 1918, announced the results of its study of the changes that had affected the wage earner's household budget since the beginning of the war in 1914. This budget was divided into five heads-food, shelter, clothing, fuel and light and sundries. The board summed up its findings in this way:

"Taking into consideration all of the factors in the problem, the evidence points strongly to the conclusion that for the great majority of American communities the average increase in the cost of living between July, 1914, and June, 1918. lies between 50 per cent and 55 Clothing showed the most marked per cent. advance of any of the major items in the budget-77 per cent-but quantitatively this is less important than the 62 per cent increase in the cost of food, since food represents about 43 per cent of the average expenditure, while clothing represents only 13 per cent."

In its calculations the board considered the family expenditure as distributed on the following basis: Food, 43.1 per cent; rent, 17.7 per cent clothing, 13.2 per cent; fuel and light, 5.6 per cent: sundries, 20.4. The percentage of increase in cost during the war period to June, 1918, was: Food, 62 per cent; rent, 15 per cent; clothing, 77 per cent; fuel and light, 45 per cent, and sundries, 50 per cent. The percentage distribution of expenditures reflected the expenditures of 11,000 families.

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