hin its power to bring about the
successful consummation of this project; the only doubt in his mind
being as to the feasibility of the project from the financial
standpoint. It seems now, however, that a plan has been devised,
through efforts of the mayor and Mr. Hecht, which gives every promise
of success. The co-operation of the city on behalf of the Public Belt
Railroad, and of the Levee Board, apparently removed the difficulties
in respect to the financial end. The Dock Board welcomes the assistance
and co-operation of the city and of the Levee Board, but inasmuch as
these boards are merely contributing certain amounts per year, and
whereas the Dock Board is the obligor in respect of the principal of
the bond issue, it devolves upon the Dock Board to use great caution
before committing itself to any particular plan in a matter which so
vitally affects the credit of the Dock Board, the city of New Orleans
and the Levee Board. President Thompson further stated that he
unhesitatingly endorsed the project and that he was sure that every
member of the board agreed, and the board would be glad to give prompt
consideration to the particular plan in question and reach some
conclusion which will insure the realization of this great project."

To estimate the probable cost of the canal, Mayor Behrman appointed the
following committee of engineers: W. J. Hardee, city engineer; A. F.
Barclay, engineer of the Public Belt Railroad; George G. Earl,
superintendent of the Sewerage & Water Board; C. T. Rayner, Jr.,
engineer of the Levee Board and Hampton Reynolds, contractor.

On February 22, the committee reported that, not counting real estate,
a canal could be built for $2,626,876. This estimate called for a lock
600 feet long, 70 feet wide, and 18 feet deep, and a barge canal to the
lake. The cost of constructing the lock was put at $1,370,660, and of
digging the canal $1,256,216.

This report was first received by a special committee composed of Mayor
Behrman, W. B. Thompson, Col. J. B. Hill, R. S. Hecht and Major W. McL.
Fayssoux. This committee referred it to the Dock Board, which adopted
it February 22.

Financial arrangements were completed at this same meeting. In order to
have sufficient to pay for the land which would have to be expropriated
for the canal, and to give some leeway, it was decided to issue bonds
for $3,500,000, with an option of floating $1,000,000 more within 30
days. A financial syndicate, consisting