THE SUEZ CANAL.
THE PROPOSED CONVENTION
United Press Association —Copyright CAIRO, Feb. 7.
The Khedive has convoked the General Assembly to consider the draft of the Suez Canal convention.
[A former cable message stated that the Suez Canal convention submitted to the Egyptian Council of Ministers proposed to prolong the company’s concession till' 2008. After 1969 half tlio 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 nothing. In return for .the prolongation of the concession, Egypt receives four millions sterling, in four yearly instalments, .beginning in 1910. After 1921 Egypt receives four-, per cent, of tho profits, alter 1931 six /per cent., after 1941 eight per cent., after 1941 ten per cent., and thereafter twelve .per cent, up till 1968. Egypt is to .be entitled to half the companyls assets upon the expiration of the concession. It ds also agreed that Egypt’s four millions sterling shall be exclusively devoted to irrigation and railways, and other remunerative expenditure in amortisation of the debt.]
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Gisborne Times, Volume XXVIII, Issue 2731, 9 February 1910, Page 5
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183THE SUEZ CANAL. Gisborne Times, Volume XXVIII, Issue 2731, 9 February 1910, Page 5
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