[178] The items adopted by the Commission as the probable cost of the undertaking were as follows:— Millions of francs. 1. Excavation 570 2. Barrage 100 3. Rigoles de déviation 75 4. Portes de marée 12 5. Jetées 10 6. Imprevus, 10 per cent. 76 ─── 843 ═══ [179] ‘Minutes of Proceedings of the Institution of Civil Engineers,’ vol. lxxiii., p. 421. [180] It may be interesting to state how this sum had been expended. The items are as follows:— Francs. The purchase of the concession 10,000,000 Caution money to the Colombian Government 750,000 Expenses incurred before the company was founded 23,393,605 Repayment of advances to founders 2,000,000 Cost of administration at Panama 26,415,927 Expenses of the company 26,036,551 Interest on money advanced and shares 55,700,148 Construction, purchase of land, &c. 25,289,743 Purchase of materials and equipment 83,537,568 Installations, &c. 115,137,354 ─────────── 368,260,896 ═══════════ [181] This was a journal, published at Paris, which, at an early stage of the enterprise, was issued periodically as the official organ of the Canal Company. [182] This sum was raised by the issue of 409,667 4 per cent. bonds, sold at 333 francs on 500. [183] 458,000 shares out of 500,000 offered, were taken at 450 on 1000 francs. [184] The manual work is and has all along been performed mainly by West Indians and natives, the number of Europeans employed being relatively very small. [185] The Consultative Committee of 1879 based their Report on an anticipated annual traffic of over 4 millions of tons.