2s6 



THE MARITIME CANAL OF SUEZ, 



of 2^ per cent, upon the ^^4,000,000, and 5 per cent, interest per 

 annum, until the date of repayment. 



The transaction with Rothschild and Sons, stood as follows : — 



To meet this loan of Rothschild's, arrangements were made with 

 the Commissioners of the National Debt to pay into the Treasury 

 an annual sum not exceeding _;^8oo,ooo, for payment of interest 

 and reduction of principal to Rothschild and Sons, guaranteed by 

 Exchequer Bonds at 3J per cent., redeemable in a probable period 

 of thirty-five years. 



On the other hand, the Khedive undertook- to pay out of the 

 revenue of the Egyptian Government to Her Majesty's Government, 

 a sum of ;^2oo,ooo, being at the rate of 5 per cent, per annum on 

 the whole amount of the purchase-money of 176,602 shares, in half- 

 yearly instalments, until the coupons of the said shares shall be 

 liberated, which it is expected will be in the month of July, 1894. 



This arrangement with the Khedive- was necessary, in conse- 

 quence of his having some years previously transferred to the Suez 

 Canal Company the whole of the coupons of his 1 76,602 shares for 

 a period of twenty-five years, and, consequently, the holders of these 

 coupons during this period receive the dividends on these shares. 



The purchase having been completed, and the documents signed. 

 It now only remained for the delivery of the shares, which was done 

 on the 27th November, when seven large cases were handed over to 

 the charge of the Consul-General, and duly deposited in the British 

 Consulate at Cairo, pending verification, and on the 17th December 

 they were despatched to England, vid, Alexandria, per Steam-ship 

 Malabar ; and, on arrival in London, on the 3rd January, they were 

 handed over to the Bank of England, to the orders of the Chancellor 

 of the Exchequer and Baron de Rothschild, 



