Annual Authorization of the Panama Canal Commission And the Annual Authorization
Annual Authorization of the Panama Canal Commission And the Annual Authorization
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Guardia. There are the three items of payments to Panama; two fixed amounts of $10 million; one, which is an annuity and the other one which is a payment for services rendered to the Commis- sion. Plus, a number that is based on 30-something cents per pc- net ton that crosses the canal. Among those three numbers, the moneys paid last year, 35 cents per ton, yes, is the present tonnage payment.
It was around $90 million. This is within what we consider costs as far as our operation. When we say ...that the canal is a break- even operation, it includes those payments to Panama. Last year, we had a surplus over and above those costs, including the pay- ments to Panama of $1. 1 million, which is the additional payment that was paid in accordance with the Panama Canal Treaty.
Actually, the surplus was $1. 7 million; $600, 000 were used to cover carryover losses. The net result of that was the $1. 1 million that was transferred.
Mr. Taylor. So, the total transfer then would have been $96. 7 million.
What to read after Annual Authorization of the Panama Canal Commission And the Annual Authorization?
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To quickly assess the difficulty of the text, read a short excerpt:
Guardia. There are the three items of payments to Panama; two fixed amounts of $10 million; one, which is an annuity and the other one which is a payment for services rendered to the Commis- sion. Plus, a number that is based on 30-something cents per pc- net ton that crosses the canal. Among those three numbers, the moneys paid last year, 35 cents per ton, yes, is the present tonnage payment.
It was around $90 million. This is within what we consider costs as far as our operation. When we say ...that the canal is a break- even operation, it includes those payments to Panama. Last year, we had a surplus over and above those costs, including the pay- ments to Panama of $1. 1 million, which is the additional payment that was paid in accordance with the Panama Canal Treaty.
Actually, the surplus was $1. 7 million; $600, 000 were used to cover carryover losses. The net result of that was the $1. 1 million that was transferred.
Mr. Taylor. So, the total transfer then would have been $96. 7 million.
What to read after Annual Authorization of the Panama Canal Commission And the Annual Authorization?
You can find similar books in the "Read Also" column, or choose other free books by Zat00 to read onlineMoreLess
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