Daily capital journal. (Salem, Oregon) 1903-1919, 1906-02-23
FOREIGN
CAPITAL
In EGYPT

Prior to the British occupation C1ss2)
there were, exclusive OF the Suck canal
company and two banks not primarily
established in Egypt, 12 companies in
which foreign capital was invested.
namely, one railway, two water. two
banking, one telephone, Eve land and
real estate and one milling company.
The combined capital OF these com
panies canont be ascertained. From
1882 to the end Of 1887 nine CONNER
cial companies with a collective capital
Of S5.OOo0OO, we're formed. With the
exception Of two small concerns they
we're connected with the port and
trade Of Alexandria. Between 1854
and 1891 three companies. WITH a cap
ital Of $4,000 900, we're noated. one a
railway under government guarantee
one a combine Of the Alexandria cot
ton presses. and the third an Alexan
dria land company. Thus far. there
fore. It may be said that foreign com
mercial capital was concentrated IN
the port Of Alexandria. The interior
of the country was avoided.
m the four years (isg2is96) 1s
companies. with a total capital Of $40.
100000 were successfully launched for
the purposes Of interior navigation.
tramwatu land and other real estate
transactions but Alexandria figured
for $500 600 only. The remaining cap,.al
had found its way into the Interior
Foreign capital pure aud simple was
stIll holding aloof Most OF the com.
panies we're formed and principally
financed by foreign residents. who be-
gan 10 feel some confidence IN the 20.
litlcal future OF their adopted country
The Soudau. and therefore the sources
of The Nile. were SIN IN the hands OF
the Mahdists. and 20 long as such was
the case European nnanciorB shook
their heads when schemes for Egypt
ian development we're submitted 10
taem. Even az late 40 1897. when
Lord Cromcr ordered the advance on
Khauoum. huanclcra had 20 little
faith or confidence IN Egypt an her
Possibilities that they actually refused
to purchase Al cost price Of material
tabout t40O0.00Ol the soudan military
railway, although a government guar.
any on tho capital invested. a monop.
oily and other advantages were thrown
In. In April. 1895, the battle OF AZ.
bara was fought and Lord Kitchener
te'egraphed 70 the States for bridge
10 span the river Then the imam
clers wanted 10 bus. but could not In
September following the battle OF ON
durman was fought and then foreign
capital. on rs own initiative. came In
with a rush.
Between 1897 and 1895 no CONNER
cial companies were Instituted with a
capital OF ti8 100000. aud by the end
OF 1904 GO more with q capital OF i5or
OO.000. had come In During the prea'
ent year "a new companies, with a
capital OF S23 600 900 have already been
instituted, and more are in prepara.
tlon. In a word, during the past few
years foreign capital 20 the amount Of
Sl7 per head OF the population has in-
vested IN Egypt, aud this figure Is IN
respective OF the $4,000 900 for the
Assouan reservoir works, the enor,
nous interests OF the Imperial Otto'
man. Credit Lyonnaise and other
banks not primarily established foT
Egyptian business, and private con
Germs that do not publish balance
sheets. have had, necessarily, 10 res.
trict myself 10 registered companies
but the details / have given may NOT
be without interest Consul General
Morgan Of Cairo, Egypt