"مذكرة تتعلق بالملاحة في نهري دجلة والفرات". [و‎‎٦‎٣] (٢٨٤/١٢٦)

Euphrates and
Tigris Steam
Navigation
Company,
December 20,
1909 [46347, File
322/09].
Law Officers,
April 15, 1910,
[13244, File
189/10].
r ihe paid-up capital of the company was fixed afc
t3*22,000/., half to be in British hands and half to
be held by the Ottoman Government, but the
company could raise the capital to 500,000/., and
in case of necessity to 1,000,000/. The Ottoman
Government were to receive 101,000/., in fully
paid-up shares, for the steamers, plant, goodwill,
&c., of the Hamidieh company, and the other
moiety was to go to the shareholders of the
Euphrates and Tigris Steam Navigation Com
pany, who were to provide the working capital.
Article 1 of the draft convention provided that
les droits de I'exploitation de bateaux a vapeur
dans le perimetre de la concession, conferes a
Mr. Lynch par les firmans en date du 1831- et
1841 et autres lettres grand-vizierielles, sont
confies, cedes et transferes a la Societe anonyme
ottomane" (the proposed new company). The
Turkish Government insisted upon the insertion
jot an additional article (article 29), in virtue of
which, a§ soon as the firman confirming the
convention should be promulgated and the
official transfer to the new company completed,
the privileges formerly enjoyed by the Euphrates
and Tigris Steam Navigation Company would be
completely annulled. This article stipulated that
a declaration of annulment should be made by
Mr. Lynch and confirmed by the English
authorities. The Euphrates and Tigris Steam
Navigation Company did not object to the
inclusion of the article in the convention
provided that, in the event of the concession to
be given to the new company being at any time
withdrawn, they should not be precluded from
recovering their existing rights ; but the Porte
refused to modify the annulment clause.
Counsel's opinion was taken on the point
whether, in the event of the withdrawal of the
proposed concession, the company could demand
a revival of the status quo ante and restoration of
the position and rights then being enjoyed.
Mr. W. E. Hamilton, K.C., who was consulted,
considered that, in the contingency contemplated,
they would be entitled to claim a restitutio in
integrum or equivalent compensation. The com
pany thereupon asked for an assurance that,
should occasion arise, His Majesty's Government
would adopt and support the view expressed by
Mr. Hamilton. It was considered desirable to
refer the matter to the Law Officers, who advised
that, if asked to assent to the annulment article,
[163—11 2 F