BAGDAD RAILWAY.

Dominion, Volume 4, Issue 1080, 20 March 1911, Page 5

BAGDAD RAILWAY.

SOME NEW CONDITIONS,' By Telegraph—Press AssociaUon-Oopyririit (Rcc. March 19, 5.5 p.m.) Constantinople, March 18. The Porto has agreed to allow tho Bagdad Railway Company to extend its line to Bagdad. Tho company is to renounce its lien on a four per cent, increaso in tho Customs duties, receiving instead security upon tho Empire's general revenues. The company will build a branch lino from Osmanio to Alexaiulretta, on the gulf of that name at tho angle between Asia Minor aud Syria. A harbour will also bo constructed at Alexandrclta. Heuter's Constantinople correspondent reports that tho company has agreed to the Porte arranging the construction of the Bagdad-Persian Gulf section of the line oil tho basis of Germany having an equal participation with any foreign Power. The Bagdnd railway, when complete, will run from lvonia, i« Asia Minor, where it joins the railways to Smyrna and Haidar Pasha (opposite Constantinople), through Bagdad to the Persian Gulf, giving a short route from Eastern Europe to Persia. The rceoncession for it was granted in 1903 by Turkey to the Anatolian Rnilway Company, aud by (bat corporation was made over to the IJagdad Kail way Company, which is in German hands. The length of the line will bo 1400 miles, of which only some 150 miles are as yet complete. The nominal capital of the Bagdad Railway Company is only .£600,000, and is largely in the hands of the Deutsche Bank, which thus controls the policy. The cost of the line will b? about .£12,000,000, and tho interest is to bo provided by the Turkish Government, which guarantees a certain annual payment for each mile completed.