Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1915-08-12
THE SUEZ CANAL SHARES
ACKNOWLEDGEMENTS
Chronicled by ALLEN UPWARD

""rhere is no reason that the khe-
dive should not be informed that In
terest myself in the negotiation from
the point of view | have spoken OF.
The fact is, he went on, assuming a
more confidential tone, that a diff
Guilty has already arisen between the
Suez Canal company and the khedive,
of which | should be glad to avoid the
repetition. Last year. owing to GER
tain differences with the British gov
ernment on a question of tolls, the
company was obliged to threaten to
close the canal to their ships of war.
No sooner was this threat made
known, than Ismail Pasha took 1t upon
himself to interfere, in his character
of the principal shareholder, and to
strenuously forbid the company to
adopt any such course. We have rea-
son to think that this action was the
result of representations by the Brit
ish government through their envoy;
and you will agree with me that this
is a form of pressure which could no
longer be brought to bear II the shares
of the company were held by private
Frenchmen.'
DE Lesseps smiled and nodded. The
minister gave me look OF intelli-
gence.
You have exactly comprehended
the position he was good enough to
say, and | see that we did not do
wrong to select you. Now go and
make your preparations to start as
quickly as possible-and be careful not
to come near the Quai D'Orsay till the
whole thing has been arranged
Il bowed, and made by adieu. With
In a week was in Cairo
II was provided with letters OF in
PRODUCTION which speedily obtained for
me a private interview with lsmail
Pasha. The character of this khedlve
is we'll known. His reckless extrav-
agance had reduced his country to
bankruptcy, and it was on this extrav-
agance that relied as the motive for
inducing him to accept the offer which
| was empowered to make.
THE palace at Cairo, in which he
received me, was strange mixture OF
European and Oriental luxury. Figure
to yourself marble courts surrounded
by myrtletrees and fountains, leading
into saloons which might have been
upholstered from Paris. This bizarre
rAnrninpnI itSalf the
person of Ismail Pasha, whose swarthy
eastern features contrasted strangely
with his western attire.
81 have the honor to wait upon
your highness, | said, as soon as the
ceremonial salutations had been ex-
changed, ON behalf of an influential
syndicate OF bankers in Paris, who
have charged me to lay before you
proposal of some magnitude, and
which relates to the Suez canal
Il saw his dark eyes glitter as /
pronounced this name He responded
morosely:
~ am tired of the Suez canal, M.
le Baron. 1t has not fulfilled the eX-
pectations / was led to form from it,
and it is, besides, cause OF many
political embarrassments. But go on;
explain your proposal
THUS encouraged, I came boldly to
the point.
"It is above all question OF pri-
vate finance l declared. AS the
khedive of Egypt, your highness en-
ioys certain rights over the canal
which passes through your territories.
1t is these rights which constitute your
political relation to 1t, and they are
not affected by the scheme we are dis
cussing. In addition, you are the per-
sonal proprietor Of certain shares in
the company which owns the canal,
and there is nothing to prevent your
transferring these shares to suitable
purchaser, with the same freedom as
any other member Of the company
"'Ah!' he interrupted, I see what 1t
Is you want. You propose to make me
an offer for some Of these shares?
For the whole Of them, your high
ness, / returned, bowing.
What! Do you mean what you
say? These shares are worth at the
very least one hundred millions!
THAT is the sum which is men
toned in my instructions.
''Ismail Pasha gazed at me In con-
sternation.
"'But have never even entertained
the idea of parting with these shares!
1t is true that find them unremunera-
tive. Are you aware that the inter-
est on them is deferred?'
II have understood something OF
the sort, l said carelessly. MY duty,
however, is merely to ask II your high
ness will accept for them the sum
which you have just named. My prin-
cipals have believed that in con-
sequence of the unfortunate state OF
the Egyptian finances, you would prob
ably sooner or later consider the ques-
tion of realizing the value of this prop
erty, and their enterprise has led them
to make what is perhaps a premature
effort to secure It,
But 1 do not say that 1t Is prema-
ture. He stopped, and bent his eyes
thoughtfully on the ground for some
moments.
81 have made no attempt as yet to
ascertain the value of my shares, he
said, peresently, regarding me with q
searching look. Perhaps might OBJ