The Suez Canal Co., which has been a hen without a nest since Egypt nationalized its big ditch, last week voted itself another career. In Paris, founder stockholders formally launched, the company into new business worlds as a French investment trust corporation. The Suez Canal Co. will invest $2,800,000 in French companies digging for oil in Algerian Sahara, and already owns a 30% chunk of the planned English Channel tunnel project. Other projects under consideration: oil ventures in Canada, iron deposits in North Africa.
The company refused to liquidate principally because it must remain in existence in...
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