Word: seaway
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Dates: during 1960-1969
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...foresight of Teddy Roosevelt gave the Republic of Panama its No. 1 asset-the Panama Canal. Under a historic treaty, signed in 1903 and renegotiated in 1955, the U.S., which has spent more than $1.5 billion to build and improve the canal, retains control over the vital Atlantic-Pacific seaway "in perpetuity." This point has long galled the nationalistic Panamanians and has touched off anti-American riots throughout Panama...
...Miriani is facing serious opposition in Detroit's nonpartisan mayoralty race. His opponent: Lawyer Jerry Cavanagh, 33, who describes Miriani as a ''ceremonial figurehead who presides over the abandonment of the city." Cavanagh talks of attracting new industry, capturing a bigger slice of the St. Lawrence Seaway trade, and, if need be, leveling an income tax on anyone-including suburbanites-who makes money in Detroit...
Cities that set modestly realistic goals are better off. Milwaukee projected 500,000 Seaway tons a year by 1965, may well hit that total this year, helped by a surprising spurt in scrap-metal exports. Ports in Canada are also doing handsomely, partly because railways there are not slashing rates selectively to buck the Seaway as U.S. railroads are doing. Hamilton, Ont., now the busiest port on the lakes, increased its traffic by 600,000 tons last year. Montreal went up 300,000 tons, Toronto...
...Midwestern grain exporter still prefers to barge his payload down the Mississippi to New Orleans, where shipping schedules are more regular and where the cargo can be put aboard 60,000-ton vessels that sometimes offer cheaper rates than the 15,000-ton ships plying the St. Lawrence. U.S. Seaway authorities want the Government to publicize the economic advantages of their route, but Congress is wary of favoring the waterways over the hard-lobbying railroads and truckers...
Odds are that the Seaway in time will live up to its promise. Traffic in May through the major Montreal-Lake Ontario link rose 20%. Farther west, another traffic increase is expected upon completion of the "Connecting Channels" project, which will open a 27-ft. waterway through the Soo Locks and the Detroit, St. Clair and St. Marys rivers. The Seaway should benefit ultimately, too, from major new iron mines being developed in Labrador and from steadily mounting U.S. and Canadian exports. Says Chicago Regional Port Director Maxim Cohen: "We're just a waddling infant. It will probably...