SUEZ CANAL.

New Zealand Herald, Volume XLV, Issue 13781, 20 June 1908, Page 5

SUEZ CANAL.

INCREASING THE DEPTH. By Telegraph.— Press Association.— Copyright. London, June 18. Pxjince Daeenbehg (president of the Suez Canal Board), speaking at a banquet in London, tinted that it was proposed to increase the depth of the canal to 30ft.

This waterway is the property of an Egyptian company, authorised by the Viceroy in 1856, and confirmed by the Saltan 10 years later, the concession having been granted to the late if. de Lesseps for 99 years from November, 1860. The general management is conducted from Paris, and the statutes are framed in accordance with French company law. In 1575 the British Government purchased the Khedive's shares for nearly £4.000,000 sterling'. The affairs of the Canal are carried on by an Administrative Council of 32 members, of whom 10 are British, three of the hitter being nominated by the Government. At a meeting of the company at Paris on June 4, 1907, the report, which was adopted, showed that the profits allowed of the distribution of a dividend of £5 Is 4d for each share. The dividend, with interest of £1, represented a gross revenue of £6 Ift 4d and a net revenue of £5 13s. The sum of £2263 was carried forward. The receipts showed a decrease of £212,763 from those of the previous year, and the total expenditure an increase' of £51,811, largely due to maintenance expenses. During 1906 5975 steamers, with a tonnage of 13.445,504, passed through the Canal, or 141 ships fewer than in 1905, with an increased tonnage of 311,399 tons. The number of passengers amounted to 353,881, of whom 127,533 were Russian soldiers. The British net tonnage amounted to 8,299,931, the German to 2,155,552, and the French to 856,311 tons. In a printed reply to Mr. Henniker Heaton on June 27, Sir Edward Grey said the cost of the construction of the Canal to the end of 1906 was £24,304,928, and the capital account of shares and loans was £18.769.817. The net dividend in 1876 was 26 fr. (£1 0s lOu). and in 1906 it was 141 fr. (£5 13s). The Canal is 90 miles long, 121 ft wide, and the present depth is 27ft.