After the United States acquired possession of the railroad, one change after another took place--now in the location, now in the rolling stock, now in directorate, and again in location--until almost all that remained of the original road was its name. It is now built almost every foot of the distance on a new location and the permanent Panama Railroad is a thoroughly modern, well-ballasted, heavy-railed, block-signal operated line of railway, built along the east bank of the Panama Canal from the Atlantic to the Pacific. Nearly half of the old right of way lies on the bottom of Lake Gatun, while the new line skirts that artificial body of water along its eastern shore, at places crossing its outlying arms over big bridges and heavy trestles. The construction of this new line was attended with much difficulty and probably no other road in the world has such a great percentage of fills and embankments in proportion to its length. One embankment, a mile and a quarter long and 82 feet high, required upward of 2,500,000 yards of material for its construction. The road is built about 10 feet above the water's edge, and more than 12,000,000 cubic yards of material was required to make the fills necessary to carry the road bed at this elevation. When the United States took over the French property it was decided that the canal work and the railroad operations should be maintained as distinct activities. It was agreed that the Canal Commission should have the right to haul its dirt trains over the Panama Railroad, and in compensation therefor the commission undertook to build a new road to take the place of the old line, which was in the way of the completion of the canal. The work of relocating the road was undertaken early in the construction of the canal in order that it might be completed by the time the old road had to be abandoned. It was built at a cost of approximately $9,000,000, or close to $170,000 a mile. It is interesting to note that the cost of this thoroughly modern railroad was only about a million dollars more than the cost of the first Panama road which has been built with rather less than usual attention to grades, and with small rails and light bridges. The relocated Panama Railroad was turned over to the railroad company in 1912. How good a bargain the United States secured when it acquired the Panama Railroad is shown by the fact that during the 10 years of canal work the net earnings of the railroad company have reimbursed the United States for the cost of the old road and the construction of the new one, to say nothing of the invaluable aid rendered in the building of the canal.