Northern companies are finding some profit in exploiting such natural resources of Panama as are available in their wild state. Of these the most promising is rubber, the tree being found in practically every part of the country. One concern, the Boston-Panama Company, has an estate approximating 400 square miles on which are about 100,000 wild rubber trees, and which is being further developed by the planting of bananas, pineapples, cocoanuts and other tropical fruits.
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Coffee, sugar and cacao are raised on the Isthmus, but of the two former not enough to supply the local demand. The development of the cacao industry to large proportions seems probable, as several foreign corporations are experimenting on a considerable scale. Cocoanuts are easily grown along both coasts of the Isthmus. A new grove takes about five years to come into bearing, costing an average of about three dollars a tree. Once established the trees bring in a revenue of about one dollar each at present prices and, as the demand for Panama cocoanuts is steady, the industry seems to offer attractive possibilities. The groves must be near the coast, as the cocoanut tree needs salt air to reach its best estate. Given the right atmospheric conditions they will thrive where no other plant will take root. Growing at the edge of the sea, water transportation is easy.
COUNTRY HOUSE OF A CACAO PLANTER AT CHORIA
This industry is in its infancy in Panama, but promises to be a considerable resource
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There is still much land available for cocoanut planting, though but little of it is government land. Both coasts are fit for this industry, unlike the banana industry, which thrives only on the Atlantic shore. Panama is outside of the hurricane belt, which gives an added advantage to the cocoanut planter. Elsewhere in the Caribbean the trees suffer severely from the high winds.
The lumber of Panama will in time come to be one of its richest assets. In the dense forests hardwoods of a dozen varieties or more are to be found, but as yet the cost of getting it out is prohibitive in most sections. Only those forests adjacent to streams are economically valuable and such activity as is shown is mainly along the Bayano, Chucunaque, and Tuyra Rivers. The list of woods is almost interminable. The prospectus of one of the companies with an extended territory on the Bayano River notes eighteen varieties of timber, commercially valuable on its territory. Among those the names of which are unfamiliar are the espavé (sometimes spelled espevé), the cocobolo, the espinosa cedar, the zoro and the sangre. All are hard woods serviceable in cabinet making. The espavé is as hard as mahogany and of similar color and marking. The trees will run four to five feet thick at the stump with saw timber 60 to 70 feet in length. Espinosa trees are of the cedar type, growing to enormous size, frequently exceeding 16 feet in circumference. The cocobolo is a hard wood, but without the beauty to fit it for cabinet work. The sangre derives its name from its red sap which exudes from a gash like blood. It takes a high polish, and is in its general characteristics not unlike our cherry.