SUEZ CANAL.
PROPOSALS OF THE CONVENTION. ALLOCATION OF PROFITS. Ey Telegraph.— Press Association.— Copyright. LONDON, Ist November. The Suez Canal Convention now sitting at Cairo nas submitted the result of its deliberations to the Egyptian Council of Ministers. It proposes, inter alia 1 — To prolong the concession till the year 2008. After 1969 half the annual net profits shall go to Egypt. If in any year the profits are below 100,000,000 francs, the company takes 50,000,000 francs and Egypt takes nothing. In return for the prolongation of the concession, Egypt receives £4,000,000 in four yearly instalments, beginning in 1910 j after 1921 sho receives 4 per cent, of the. profits; after 1931 6 per cent, j after 1941 8 per cent; "in 1951 10 per cent. ; and then 12 per cent until 1968. Egypt is to be entitled to half the company's assets upon tho expiry' of the concession, and it has also been agreed that Egypt's £4,000,000 shall be exclusively devoted to irrigation, railways, and other remunerative , expenditure, and the amortisation of her public debt.
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Bibliographic details
Evening Post, Volume LXXVIII, Issue 107, 2 November 1909, Page 7
Word Count
176SUEZ CANAL. Evening Post, Volume LXXVIII, Issue 107, 2 November 1909, Page 7
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