THE SUEZ CANAL.
PROPOSED NEW AGREEMENT WITH EGYPTIAN GOVERNMENT.
Uni'ed Press Association —Copyright (Received November 1, 10.35 p.m.)
LONDON, Nov. 1
The Suez Canal convention has been submitted to the. Egyptian Council of Ministers. It proposes to prolong the concession till 2008 After 1960 half the annual net profits are to go to Egypt. If any year they are below a hundred million francs (four millions sterling), the company takes fifty million francs and Egypt takes nothing. In return for the -prolongation of the concession, Egypt receives four millions sterling, in four yearly instalments, beginning in 1910., Alter 1921 Egypt receives four per cent, of the profits,' after 1931 six per cent., after 1941 eight per cent.,' after 1951 ten per cent., and thereafter twelvesper cent, up till 1968. Egypt is to be entitled to half the company’s assets upon the expiry of the concession. >lt is also agreed that Egypt’s four millions sterling shall be exclusively devoted to irrigation and railways, and other remunerative expenditure m amortisation of the debt.
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https://paperspast.natlib.govt.nz/newspapers/GIST19091102.2.21.4
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Gisborne Times, Volume XXVII, Issue 2648, 2 November 1909, Page 5
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171THE SUEZ CANAL. Gisborne Times, Volume XXVII, Issue 2648, 2 November 1909, Page 5
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