"سكة حديد بغداد" [و‎‎٢‎٣] (١٢٩/٤٥)

11
This year for the last month alone, as compared with the same month of
last year, a sum of £i5,000 in excess has been collected, and it is estimated
that the revenues collected on account of the Unified Debt will exceed the
requirements by £500,000.
Of this surplus, 75 X goes to the Government and 25% to the Ottoman
1 ublic Debt, of \\ Inch (10^ is set aside for the extraordinary sinking fund,
and 40 % for the redemption of the Turkish Lottery Bonds.
The Ottoman Bank agreed to raise a loan of £2,500,000 on the guarantee
of 75% of the foregoing surplus. The loan has not yet been floated on the
Baris market; but the Bank has advanced £1,100,000 sterling. Even when
the full loan (£2,500,000) is raised and debited to the surplus, the interest
will absorb only a portion of the sum available (i.e., £500,000).
Ihe German Embassy takes a keen interest in the affairs of the Dette,
and it is to that quarter that they are looking for security for the kilometric
guarantee of the Baghdad Railway.
the completion of the next two sections of the Baghdad Railway beyond
Eregli will bring the line to the southern side of the Taurus, and time only will
be necessary to link up the Trunk line with the Syrian system.
If the guarantee of these two sections is obtained, there will be no diffi
culty in raising the capital in Germany, and the French Bank will probably
be given a share as in the case of the Konich-Eregli line.
r Ihe loan of 54,000,000 fr. raised for this section was distributed as
follows:—
Erench ... ... 30^
German
Anatolian Railway
Others
The areas available for tithe guarantees are becoming scarcer; but, on the
other hand, as has been shown above, the revenues derived from the tithes are
improving and yield large surpluses; moreover, as the guaranteed lines begin
to pay, they wull make smaller demands on the guarantee. The Anatolian
Railway is a case in point.
The question arises by whom are the surpluses of the tithes and Dette
likely to be utilised ? It seems probable by Germany.
The Porte becomes daily more dependent on German support, financial
and political.
German finance has acquired great influence over the railways of
European Turkey as well as of Asia Minor. The Deutsche Bank has acquired
the concession for the Constanza Cable, and the influence of the Bank is being
exercised w ith considerable success on the sea transport by Turkish vessels in
the Bosphurus, Marmora, &c. In short, German influence is aiming at the
main lines of communications throughout the Ottoman Empire, and the
Deutsche Bank is the instrument at w r ork.
How great is that influence was clearly shown when German and Erench
interests came into conflict lately over the question of loans and armaments.
British co-operation in the Baghdad Railway is still apparently desired.
The Germans probably want some political backing in what might, under other
circumstances, become a somewhat isolated position.
The German Ambassador asked recently why we did not come into the
Baghdad Railway scheme. The Company would, he said, probably be able to
meet our wishes with regard to the Baghdad-Gulf section. Dr. Nander,
Director-General of the Anatolian Railway Company, made a similar statement;
and it appears that the Railway Company awaiis a sign from us. They cannot
come forward again after the experiences of the past.