Panama. (U.S. Canal Zone). 1927. Envelope addressed to Ancon (Canal Zone) bearing Panama SG 198, 1/2c orange (pair) tied by Transito/ Colon double ring 'Sept 8 1927' in violet, underpaid with 'T' hand-stamp and bearing United States Canal Zone postage due Yvert 12, 2c carmine tied by bar obliterator on face. Fine item of underpaid mail from Panama to the Canal Zone with postage due.