THE SUEZ CANAL.
THE NEW CONVENTION. ' By Cable.—Press Association.—Copyright Cairo, February 7. The Khedive has convoked the General Assembly to consider the draft of a Suez Canal convention on the lines cabled on November 1. The Convention submitted the result of its' deliberations to the Egyptian Council of Ministers. It proposed, inter alia: To prolong the concession till the year 2008. After 1909 half the annual net profits shall go to Egypt. If in any one year the profits are below 100,000,000 francs the company takes 50,000,000 francs and Egypt takes nothing. In return for the prolongation of the concession Egypt receives £4.000,000 in four yearly instalments, beginning in £1910; after 1921 she receives 4 per cent, of the jpofits; after 1931 0 per cent.; after 1941 8 per cent.; in 1051 10 per cent., and then 12 per cent, until I9GS. Egypt is to be entitled to half the company's assets upon the expiry of the concession, and it has also been agreed that Egypt's •£4,000,000 shall be exclusively devoted to irrigation, railways, and other remunerative expenditure, and the amortisation of her public debt.
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Taranaki Daily News, Volume LII, Issue 310, 9 February 1910, Page 5
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185THE SUEZ CANAL. Taranaki Daily News, Volume LII, Issue 310, 9 February 1910, Page 5
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