SUEZ CANAL.

Dominion, Volume 3, Issue 747, 21 February 1910, Page 5

SUEZ CANAL.

REDUCED DUES DESIRABLE ALSO-

IMPROVEMENTS. WHERE THE COMPANY HAS A PULL. By Telegraph—Press Association-Copyright (Rec. February 20, 5 p.m.) . London, February 19. -,Dealing with the negotiations for an extension of .the Suez. Canal concession, the present ; term- of which expires in 1968 "The, Times" states that a reduction of the canal duos is desirable. Last year the Peninsular , and Oriental • Company paid in dues .£312,225. '' -. : The first interest of; British shipping, is, however, the improvement of the canal. .Unless the Suez Canal Company obtain a guarantee that their concession:will be.extended, they. -may devote air tho earnings to tho reimbursement of shareholders.

. [Under the tortus for an extended concession proposed last year—whicli, ;however, ;the Suea Canal/Company; it was reported; refused to ratify—the concession would have been extended until 2008.; The terms have been summarised as follow.:— After 1969 one-hal f the annual net profits will'- go to the 1 Egyptian Government. If in, any year they aro below -100,000,000 francs, company will take .50,000,000 francs and Egypt the remainder; .if:ithoy. are' below 50,000,000 francs Egypt will get nothing! In return for. the prolongation for the concession, Egypt receives ,£4;Q00,000, payable in four yearly, instalments, beginning.in.l9lo. After 1921 1 Egypt;will receive i per cent, of the. profits, after; 1931 0 per cent., after .1911 '8 per cent.; after 1951 10 per-cent., and. from 19151 to 1968 12 per cent. 1 Egypt will he entitlod to half the company's assets upon tho efof. the concession:] > i J. '