Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1894-08-04
EARNINGS OF THE sUez CANAL
An Average Divident Of Over 1s Fer Cent.
to the Shareholders.

An Average Divident Of Over 1s Fer Cent.
to the shareholders.
Annually there comes to the no.
tice OF the public the fact that the
Sucz Canal Is earning an immense
amount OF money, and the COM
pany's report for 1893 is now BEIGE
the public. The profits which the
shareholders of this corporation are
making were last year as large as
usual, says the Providence Journal,
and they again present, to Ameri.
cans especially. the strongest argu-
ment that perhaps will ever te
offered for the revival of the Cen
trail American venture. The divi.
dends paid by the Suez corporation
for the last four years have been
1890, IL per cent: 1891, II per cent;
1892, 10 per cent: 1893, Is per cent.
This was on a capitalization OF 1917,
125, 900 francs, at 800 francs a share,
inclusive Of reservation OF per
cent. interest on the 364.250 shares.
With this per cent. interest the
yearly payments are made on the
company's redeemabie obligations,
the total amount Of which was origi.
nally 2O2, 764, 17D franCs. Reduced
to our own currency terms these
figures show that the canal cost In
round figures the sum Of $50, 900, 900,
of which the shareholders contrib
uted one half. at 800 a share. This
Investment 10 now returning any
where from 81 u share, as In 1891.
to eli. in 1890. The company's
exact revenue In 1893 was 20, SO. 892
francs. The expense amounted to
30, 964, 445 francs, or q little tess than
~, 600, 900. This Is equal ~ a divi-
dend of 20 francs per share, or with
the ) per cent. interest on the share,
~ francs The shares in our money
thus Melted their owners about s!+
each, or with the bond reservation,
sis. No objectionican be made to
calling the last figure the real net,
since II represents the gradual wip.
Ing out of the company's bonded OBJ
legations, q process which Is steadily
going on. IT these obligations were
paid oil as soon as possible, or when
con venience permitted, the share
holders might still receive over 10
per cent. and 80 per share, and vet
pay oH the indie btcndess Ia twenty.
live years
The practical quest on In applying
this lesson Of Sucz, as We may call IL.
to the Central American project Is
whether the shipping business Of the
eastern waterway Is ut all analogous
and similar to the business which
would he done ut Panama or In Mic.
aragua. Is Sucz In position which
offers II q chance Of larger use illness
to patrons than q channe! across
Central America would provide? Tho
man who would say that 1t Is would
risk any reputation he might have as
an economist Of stable caliber. In
the same way the tinancier who does
not appreciate tho value OF the pro-
posed route from the Atlantic to the
Pacific IL risking his good name as q
speculatOr and capitalist. How the
English to-day laugh at the fore.
sight Of the late khedive OF Egypt
for selling his shares In the SueI
Canal In 1875 f)r $50 900, 900. The
same shares are worth $s6, 900. OGO
to-day. Yet the German. Paris, ana
other bourses Of Europe, together
with the most faisccing bankers In
the world, permit,cd Disraeli, u man
who was not u tinancier as VIC ordi.
narily understand the word. TO buy
up these shares Tho future will
bring ridicule upon United States
capitalists and hnanciers II they per.
NIT any ono else to build the Pan.
anna or Nicaragua Canal and own It.
Every year shows how much one or
the other OF these routes Is demanded
BY commerce. Tho new movement
Is the requirement and development
Of the Australian world, with the
utilization Of the Pacific islands rs
coaling stations and depots, Is At this
very moment increasing the pros.
pective and potential value OF the
work enormously.