The work on the extension of the Baghdad Railway from
Eregli to Bulgurlu, which was resumed in May, has been making only slow progress owing to the want of funds. The Paris correspondent of the Times states in Friday's paper, on the authority of the Echo de Paris, that the Baghdad Railway Syndicate has, for the second time within a year, failed to find a market for the new railway bonds, and that the constructors have had to fall back upon the balance of the kilometric guarantee payable by the Ottoman Government on the com- pleted sections of the line which are becoming self-supporting. The correspondent adds that there is a persistent report that the Syndicate has placed only about 2480,000 worth of the second series of bonds. This series, which was offered for subscription in Jane, represents £4,320,000.
