"8. It will prove an important facility in the equipment of New Orleans to meet the new competition the enlarged Erie Canal will create. The original Erie Canal harmed New Orleans because Mississippi River boat lines could not build their own terminal and housing facilities at New Orleans." [Illustration: W. A. KERNAGHAN Vice-President RENE CLERC Secretary ALBERT MACKIE HUGH McCLOSKEY COMMISSIONERS Board of Commissioners of the Port of New Orleans] This meeting made industrial history in New Orleans. The Hecht plan was studied by lawyers and financiers and declared feasible. Mr. Hecht summarized the confidence of the far-visioned men in the new New Orleans when he declared in a public interview: "I feel there is absolutely nothing to prevent the immediate realization of New Orleans' long dream of becoming a great industrial and commercial center and having great shipbuilding plants located within the city limits." And the Item said, in commenting on the undertaking (February 17, 1918): "Millions of dollars of capital will be ready to engage in shipbuilding in New Orleans the moment that piledrivers and steam shovels are set to work on the shiplock and navigation canal." It was a time of great industrial excitement. Victory was at last in the grasp of New Orleans. The eyes of the country were on New Orleans. The cry was, "Full Speed Ahead!" SMALL CANAL FIRST PLANNED. The plan, at this time, was to have a lock-sill only 16 or 18 feet deep. This would be sufficient to allow empty ships to enter or leave the canal, but not loaded. The mere building of ships was thus the principal thought, despite the rhetoric on commercial and industrial possibilities. Perhaps the leaders who were beating the project into shape were themselves afraid to think in the millions necessary to do the work to which New Orleans finally dedicated itself; perhaps they realized that the figure would stagger the minds of the people and defeat the undertaking, if they were not gradually educated up to the mark. Meeting on February 15, 1918, the Dock Board resolved unanimously to put the plan through, if it proved feasible. W. B. Thompson was president of the board; the other members were Dr. E. S. Kelly, Thomas J. Kelly, B. B. Hans and O. P. Geren. Later, E. E. Lafaye took Mr. Kelly's place on the board. The Public Belt Railroad board had in the meantime (February 13) voted to pay the Dock Board $50,000 a year; and the Levee Board (February 14) to give $125,000 a year. As the plans were increased, the Levee Board later increased its bit to $925,000.