SUEZ CANAL PROGRESS.

Evening Post, Volume CX, Issue 34, 8 August 1925, Page 24

SUEZ CANAL PROGRESS.

The progress made by the Suez Cann.l Company during 1924 may be regarded as satisfactory, says an overseas journal, financially, the results are considerably better than those of the previous year, though only about 12 per cent, of^the increase can be attributed to ■ receipts from traffic, the balance being mainly due to transfers of funds. In spite of the quiet conditions of shipping during the past year there has been an increase in the number and tonnage of veesel» passing; through the canal amounting to 2,379.720 tons ot shipping more tliun in 1923. 'flic percentage of large steamers over 10,000 tons has also increased. The reduction of dues as from Ist April last is expected to net as a 'stimulus to increased trade, and at the animal meeting the chairman of the company was able to assure the stockholders that recent traffic returns were confirming that expectation. As regards the cargoes in transit it is interesting to note that the quantity of coal is decreasing, while there is a very large increase in the transport of mineral oil through the canal. These are principally shipments from the Persian Gulf.