, 1880-07-07

~VSsAAs tbOuH ia Cupitbt representing tuo
redeemed funds of the reserved assets, and
by suudry sales, amounting to 2i2.434f.
The report mentions the issue last March
of 15,152 bonds, of 500f. nominal
value, at $780,, representing a capital of
FIVE millions, to be paid in five annual in
stalments, to be devoted to the works
planned in 1876, and 1t ~testiies to the
eagerness of the shareholders in securing
their right to, most of the bonds. The
usual dredgings have kept the navigation
in good condition, the amount of soil, ex-
cept at the Pert Said ~jetties, being much
below that of previous years, confirming
the opinion of the engineers as to the ade-
quacy of the annual dredgings. The Port
Said works were uninjured by the storm
of the 28th-30th of December. AS the
development of the traffic may require q
new wet dock on the African side, the en-
trance to the Canal is to be widened to
200 metres, and the British Government
has agreed to postpone taking possession
OF its ground there till July, 1882. The
traffic during the year comprised 1,477
GUS years stands thua:-1S7O, 4S6 shlr
of 435,9l1 tons; 1871, 765 ships, of
76l.467 tons: 1872, 1852 ships of
~1,43s.150 tons; 1878. 1873 ships of
2,085,072 tons; 1874, 1854 ships, of
2,423,672 tons 1876. 1,494 ships OF
2,940 708 tons +; 1876, 1857, ships of
3,O72,1O7 tons; 1877, 1858 ships. OF
3,41s ,942 tons; and 1878, 1893 ships,
of 1891, 535tons. The receipts were in
1870, $3.50 327f,; 1871, S.993.732f. 1879.
l6,4O7. SOL. ; 1878. 22.s97 ,3l9f. 1874.
%, s59,3sSf. ; 1875. 2s.sS6.302t 1870,
~29,974,99Sf.; 1877, 32,774. 344f.; 1878,
31,09S, 229f. and 1879, 29,6S6, 060f. OF
the lat ship which passed through the
Canal last year, 156 had never passed
through before, end they comprised 1.o3s
merchantmen, 296 mail steamers, IS trans
ports, 80 tugs, IA despatch boats. IS gun
boats, II corvettes, seven cruisers, seven
yachts, tour dredgers, and three sailing
vessels. The passengers comprised 42.775
soldiers, 26.697 civilians. and 1852, p'l-
grims. The average time Of transit was
II hours IL minutes, or, including stop
pages, 40 hours 80 minutes. Three OF the
ships drew II metres of water. The Aus
tralian traffic hos increased, comprising az
ships, with 6,S65 passengers; three Russian
ships were bound for the AMOR River
and "a piled between New York and
China or Japan. Although. owing to the
financial crisis, The transit receipts are 2l.3
per cent. below those of 1873, the total
Anglo.O Oriental traffic decreased from Is
to 20 per cent. That crisis 10 now over:
and the receipts for the first four months OF
this year have been 1887, 1871, or
4,044.0S0f. above the same period in 1879.
AS the traffic increases, it becomes more
subject to commercial fluctuations but
any slackening 10 the traffic from such a
cause is sure to be followed by a revival.
The report concludes by giving ..Sis John
Stokes's account of the state OF the Canal
as submitted to the directors last March.
Sir John found it in all respects most salts
factory, and he was much struck by the
improvements being carried out at the
wharfs, as also by the intelligence shown
by the staff in the economical extension Of
the works. He approved the contempla-
ted rectifcation of the Lake Timsah curve,
and testified to the value of the increased
accommodation provided at the station.
He witnessed the satisfactory working of
the drags, and testified to the efficiency
OF the company's tugs, being on board one
OF them when, on an accident to the en-
gines of 90 ironclsd, the tug towed it
without difficulty. The directors thanked
him for his careful inspection, and hailed
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