"XXII\٨ سكة حديد بغداد" [ظ‎‎٣‎٢] (١٩٤/٦٣)

46
of the bonds issued. The Imperial Ottoman Government further assign, irrevocably
and inalienably, to the holders of the aforementioned Government bonds their share of
the gross receipts of the said line.
If the gross kilometric receipts of the line exceed 4,500 fr. hut do not exceed
10,000 fr., the surplus above 4,500 fr. shall belong entirely to the Government.
If the gross kilometric receipts exceed 10,000 fr., the portion up to 10,000 fr.
being always divided as stated above, 60 per cent, of the surplus over and above
the 10,000 fr. shall pass to the Imperial Government, and 40 per cent, to the
Company.
It is agreed that if the gross kilometric receipts do not reach 4,500 fr. the
sum required to make good the deficiency in this amount shall be paid to the
concessionnaires by the Government at the same time as the annuity of 11,000 fr.
from the special assignments to be agreed on between the Imperial Government and
the concessionnaires before the fulfilment by the concessionnaires of the clauses of
the present convention relative to each section.
The above assignments shall be collected and paid through the agency of the
Administration of the Ottoman Public Debt.
As regards the Government bonds to be issued for the construction of the different
sections of the railway, the receipts accruing to the Imperial Government shall be
pooled in such a manner that the amount available shall he assigned to the whole of
the said bonds in proportion to the original nominal value of each issue.
Immediately after the payment of the coupons and the sinking fund of the
Government bonds issued, the surplus of the receipts accruing to the Imperial Ottoman
Government shall be paid to the latter annually after the completion of the formalities
provided for by article 40 of the present convention.
Article 36.
For the purpose of determining the average of the kilometric receipts of the new
Bagdad lines, all the receipts from every portion of the new lines, together with the
net receipts referred to in articles 23 and 33 of the present convention, shall be pooled
as and when the new lines are opened to traffic.
The average of the gross kilometric receipts thus obtained shall serve as the basis
for ascertaining the total of the sums to be paid in accordance with article 35.
Article 37.
The concessionnaires undertake to carry out at their own expense all the improve
ments on the old lines from Haidar-Pasha to Angora and Eskishehr to Konia required
for the introduction of an express train service, but the expenditure involved shall not
exceed a sum of 8,000,000 fr.
In return for this expenditure and for the new extraordinary charges for working
expenses involved in the introduction of the express train service, the Imperial
Government assign to the concessionnaires—
1. An annuity of 350,000 fr. for thirty years for interest and sinking fund in
respect of the capital sum of 8,000,000 fr. mentioned above.
This annuity shall be paid from the commencement of the works of improvement.
2. An annuity of 350,000 fr. for the establishment of the express trains.
This latter annuity shall not become payable till the main line reaches Aleppo.
The annuities provided for in the present article shall be paid to the Ottoman
Anatolian Railway Company out of the existing assignments for the guarantees of the
old railway system and in the same manner as the latter.
Article 38.
The concessionnaires undertake to construct and work, as soon as the Imperial
Government shall require them to do so, on the conditions of the present convention, a
branch line starting from the Konia-Busra line and ending at Diarbekr and Kharput.
Article 39.
The proposed junction of the Damascus-Hamab line and its extensions with the
railway system forming the subject of the present convention shall take placeat Aleppo,