PARIS/CAIRE. 1 Action de F500. olive, black. #2400. No 1546. In 1854 the Khedive of Egypt signed the firman, or decree, authorising the building of the Canal, and the Suez Company was formed in 1856. Construction started in 1859. As the work developed, the various construction sites, employing large numbers of people (around 1.500.000), needed various services, including the provision of fresh water. The Sweetwater Canal, bringing water from the Nile at Zagazig to the Canal area was built in 1863 by the Egyptian Government. This, and underground water sources discovered along the Canal route, were distributed by pipe and camel-drawn tanker along the Canal construction route. Under the terms of the firman the Egyptian Government was to supply 70.000 cubic metres of water per day to meet the needs of the people settled on the Canal line, watering of gardens, and supply to ships passing through the Canal. This company was formed under Egyptian law in Cairo in 1866 to take over this responsibility. The Suez Canal Company must surely have had some participation in the company, but we have seen no evidence of that. We do know that de Lesseps himself was interested in it (as he was bound to be), but whether financially or not, we do not know. Surely one of the oldest Egyptian shares we have ever seen.
Date: 1 January 1869
Startprice: € 300