THE SUEZ CANAL.

Evening Post, Volume XV, Issue 181, 4 August 1877, Page 1 (Supplement)

THE SUEZ CANAL.

The annual general meeting of the shareholders of the Suez Canal Company was held at Paris on June 6, and was unusually well attended. M. de Lesseps' report to the shareholders stated that the net profit of hist year had exceeded 2,000,000f., an amount which would enable the company to pay a dividend of 3f. 55£ c, per share. The dividend paid last year had been only If. SBc. per share. During the first five months of the current year the number of ships passing through the canal had increased nearly 9i per cent, on that of the similar period of 1876. The largest ship which had hitherto passed through the canal was an English steamer of about 5,000 tons, while another English steamer passed easily from one sea "to the other drawing 24£ feet (7 metres 50) of water. The most interesting part of this year's report was that referring to the situation of the canal as affected by the war. M. de Lesseps had been in England to consider this question with her Majesty's ministers. In the course of last month several shareholders had manifested alarm as to the danger of interruption which the navigation of the canal ran amid the events passing in the East. He hastened to London

in order to come to some understanding with her Majesty's ministers on a question so important for the company. The proposition to maintain by a general agreement the complete freedom of navigation in the canal which had existed since its opening in 1869 had been seriously considered, and on his return he received the following declaration from Lord Derby :—": — " Any attempt to blockade or hamper bj' any means whatsoever the canal or its approaches would be considered by Her Majesty's Government as a menace to India, and as a serious injury to trade in general. From these two considerations, any such act, which Her Majesty's Government hopes and trusts neither of the belligerents will commit, would be incompatible with the maintenance by her Majesty's Government of au attitude of passive neu.\al ; tv." f^zvC Lyons, on making this declai uion to the company, had added that he" 'ilaj-'ofcy's Government was glad to see thai it agieed with the French Cabinet in all that concerned the canal. "Henceforth," the Reporb concluded, " the Canal created by your capital and sustained by your union and perseverance will remain outside political complications, because it has now become indispensable to the relations of all nations." After having read the report, M. de Lesseps observed, amid general applauae, that the attitude of the British Government and its categorial declaration were certainly preferable to the scheme of international guardianship he had himself proposed in London.