SUEZ CANAL CONCESSION.
THE PROPOSED EXTENSION. (Received 8.5 a.m.) CAIRO, February 7. The Khedive has convoked the General Assembly to consider the draft of the Suez Canal convention on lines submitted in November last. On November 1 of last year the Suez Canal Convention was submitted to the Egyptian Council of Ministers. It proposes to prolong the concession till 200 S. After 1900 half the annual net profits are to go to Egypt. If in any year they are below 100.000,000 francs the company will take 50,000,000, while Egypt will take nothing. In return for the prolongation Egypt is to receive £4.000,000 in four yearly instalments, beginning in 1910. After 1921 she is to receive 4 per cent of the profits, after 1931 G per cent, after 1941 eight per cent, after 1951 10 per cent, and after 1901 12 per cent till 19(58. Egypt is to be entitled to half the company's assets on expiry of the concession. It is provided that Egypt's £4.000,000 shall be exclusively devoted to irrigation, railwaj-s and other remunerative expenditure.
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Auckland Star, Volume XLI, Issue 33, 8 February 1910, Page 5
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176SUEZ CANAL CONCESSION. Auckland Star, Volume XLI, Issue 33, 8 February 1910, Page 5
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