SUEZ CANAL.
PROPOSED EXTENSION OF CONCESSION, TO BE CONSIDERED uY EGYPTIAN ASSEMBLY. Received February 8, 8.5 a.m. CAIRO, February 7. The Khedive has convoked the General Assembly to consider the draft of the Suez Canal Convention, on the lines cabled in November last. The draft scheme submitted to the Egyptian Council of Ministers proposed, anions* other things:— To prolong the concession till the ye?r 2008.
• After 1969 half the annual net I profits shall go to Egypt. ! If in any year the profits are below j 100,000,000 francs, the compstay 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 profits; after 1931 6 per cent; after 1941 8 per cent.: in 1951 10 per cent.; and then 12 per cent, until 1965. 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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https://paperspast.natlib.govt.nz/newspapers/WAG19100209.2.23
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Wairarapa Age, Volume XXXII, Issue 9714, 9 February 1910, Page 5
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190SUEZ CANAL. Wairarapa Age, Volume XXXII, Issue 9714, 9 February 1910, Page 5
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