THE SUEZ CANAL.

Taranaki Daily News, Volume LII, Issue 229, 2 November 1909, Page 2

THE SUEZ CANAL.

THE NEW PROPOSALS. By Cable—Press Association—Copyrlg \t Received Nov. 1, 10.35 p.m. London, October 31. The Suez Canal Convention has submitted its scheme to the Egyptian Coun- * <il of Ministers. It proposes to prolong the concession till 2008. After 1869 half of the annual net profits is to go (o Kgypt. If in any year the profits are In-low a hundred million franca, ths company takes fifty million and Egypt takes nothing. In return for the prolongation of tha concession Egypt receives four million sterling in four yearly instalments, beginning in 1010. After 1021 she receirM ■ our por cent, of the profits; after 11131, six per cent.; ntfer 1041, eight per cent.; •mil after IftJl, ten and twelve per cent until 1008, when Egypt is entitled to Half tile company's assets upon the exwry of the concession. It is also agrend that Egypt s four million shall be exclusively devoted to irrigation, railway! and other remunerative expenditure, ani tfco amortisation of the debt