The times., 1899-06-11
TRAFFIc.IN,THE ssUEz CANAL.

Over Three Thousand Ships Passed
Through the Waterway Last Year.
London, June 10.-The report to be pre-
sented by Prince d'Arenbefg at the annual
meeting of the Suez Canal Company on
Tuesday week will show that the receipts
of 1898 have amounted to S7,906000 francs,
which exceed those of any previous year.
The increase of u, 299, eco francs over 1897,
of which l0, ,S55, 900 francs arises from COM
mercial traffe and 1,141080 francs from
military expeditions, verifies the chair
mans prediction at the last meeting that
the depression was only temporary. The
rules of prudence hitherto observed must
not, however, be departed from, and while
the larger part OF the increased receipts
should increase the dividend, the company
in good years should strengthen its re-
serves and increase the amount allotted to
expenditure of a nature and Importance
not to be borne by single year.
Improvements required by increased
traffic and the progress of navigation are
thus secured, as also the comparative
fixity of dividends, which should not be
subjected to sudden variations. The di-
rectors, therefore, propose to allot to the
reserve 2,171,G00 francs wiz, 1,i63,O0o
francs for the statutory per cent and
70S 600 francs for the sum taken therefrom
last year TO make up the dividend. This
reduces the surplus of receipts over expen-
diture from As, 7s9, ,O0o francs to 46,06S.0 600
francs. The sum OF 15492,000 francs has
been already paid as dividend on account,
and the remaining 31,l25, 600 francs will
raise the dividend to 81 francs which,
added to the interest of % francs, repre-
sents 107 francs. or 100 francs net In spite
of the increased receipts, the expenses have
decreased, for increased traffic does not
imply increased expense, and this shows
the economical spirit Of the board and the
persevering zeal of its staff Indeed,
saving OF about 250,000 francs has been
effected in the maintenance Of the canal.
A sum of 1851 900 francs has been al
lotted to new buildings and the renewal of
plant being nearly double the sum as
signed in 1895 and 1886, inasmuch as in
1897 nothing was thus assigned. This spe-
ciaI fund WIN this year have to provide
1900, 900 francs for the tug recently built,
and the new marine dredger, both being
apparatus OF increased powera' The power
and efficacy OF the company's apparatus
were shown in February, 1898, by the
floating off of the British battleship Vic
torious, which stranded off Port Said,
service for which the English Government
conferred the Order OF st. Michael and
St. George on NJ. Tillier and NJ. Quellen-
nee, besides giving splendid presents TO
several OF the employees and sums OF
money to the pilots. The Admiralty also
recently made presents to two of the com
pany's pilots in recognition of their SER
vices to the navy. AS to the traffic of
1888, the report states that 3, SOB vessels of
9,22S, ,00G tons burden passed through the
canal, 227 of them for the first time and
1924 by night. The average duration of
transit was 10 hours 43 minutes There
were 60 transits OF petroleum ships. With
the exception OF 1892, when the ships num-
bered 1852, this is the largest number on
record. England sent 2,295 vessels Ger
many 1885, France 221, Holland 1873, Austria
So. ItaIy-44, Japan i6, Egypt 10, Denmark
| s, America 4, China a. Portugal 3, Sweden
| 2. Greece 2, Rcumaila |, and Argentina l.
| OF the 21a,000 passengers, English soldiers
numbered $4,000, Russian $4,000, Turkish
| %, GOO, French 14,00o Spanish 10000, Ital-
| ian 5000 and Dutch 5000. The civilian
passengers numbered $4,000, and pilgrims
and emigrants 1000. The report speaks
of the improvement in Indian trade and
Of the prospect of increased traffic from
the events in China and railway construc-
ton in Tong king Japan.-Formosa, and
| East Africa. The De Lesseps statue,
| testimonial of admiration and gratitude,
will be unveiled on November II, the thir-
tieth anniversary OF the opening of the
| canal