The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-04-16
The Suez Canal.

M. Ferdinand de Lesseps made an impor-
tant report to the Suez Canal Company at
the meeting held. on the 18th OF March. 1t
exhibits the affairs OF the company in q re-
markably favorable light, and leads to the
hope Of still greater prosperity In the future.
M. de Lesseps remarks upon the singular
fact that the original believers in the canal,
the French, now furnish the only disbelievers
in it, while those who were at first incredu-
lous have been completely convinced BY
facts. The meeting last month was an ex-
t~faordinary session, called in advance OF
the usual meeting, for the purpose OF dis
sipating the curious doubts as to the SOL
vency OF the company and the prospects OF
the canal The report is consequently a
collection OF facts 30 arranged as to remove
all suspicious. We have condensed the
several statements, aud exclude much that
ia, though highly interesting to the COM
papy, of less Importance to the commercial
world.
The canal now has q minimum depth,
throughout it's whole length from Port Said
to suezof $50 metres. The passage through
the canal by the Nebraska, 1888 tons, with
a draught OF 7.2l metres, by several Eng
Dsh transport ships, with a tonnage OF over
5000, and other great vessels, shows hat
the great canal is equal to all the demands
likely to be made upon it. TIE use OF this
route is increasing, too. During 1870, there
we're 1886 ships, measuring in the aggregate
1886, GIL tons, that made use Of the canal; in
1871. the number increased to 765, and the
tonnage to 76l, 497; and during the first
two months OF the present year there were
200 ships, with a tonnage OF PA, 500, that
made the passage, indicating a very large
increase for 1872. Az for the financial situa-
ton. it is more thar favorable. In July
last, the company voted to raise by loan
twenty million francs for the improvement
OF the canal. The subscription books,
opened 10 September, had only been filled
totthe extent. of twelve millions a little more
than a month ago; but the apparent un-
popularity OF the loan has assisted the COM
pany, for it now finds its finances in such a
condition that it can dispense with the other
eight millions. Tie service Of 1871 more
than justified the expectations OF the di-
rec,ors, and they succeeded in reducing the
expenses from the estimate OF seventeen to
sixteen million francs. For the coming
wear, they expect a revenue OF S,l7O,O 600
francs-a very modest estimate considering
the business done last year, and its increase
in lS72-and they put the entire expense OF
operation and the contribution to the sink
ing fund at Is, $40, 900 francs, leaving a net
income OF nearly tive and a quarter million
francs for the year. Nothing is recSoned
in this estimate for the return from the
wharf and other property OF the company, a
part OF which will be sold when it shall have
attained its full value.
The question of tonnage has been a very
perplexiDg one for the company. BY its
charter it is restricted to q tariff charge OF
ten francs per ton, and the same sum per
Messenger The various methods OF meas
- -
uripg tonnage in different countries have
caused the company to lose by its adoption
OF u tariff based on inscribed tonnage, and
it is only lately that it has been determined,
after long deliberation, to change the sys-
tenn. On the 4th Of March, the conSei
characterization OF the company adopted a
rule that, on the lst OF July next and there
after, tie charge shall be on the real capa-
city OF vessels. The gross tonnage regis
tered upon the papers Of all ships measured
after the English system is to be accepted
for such ships, and such as have not been
80 measured must be remeasured by that
method. This establishes a uniform and
perfectly fair rule for all vessels using the
canal.