A History of the Grand Trunk Railway of Canada

author, 1864 - 54 pages

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Page 4 - ... this Province, to guarantee the interest on loans to be raised by any Company chartered by the Legislature of this Province for the construction of a line of rail-way, not less than seventy-five miles in extent, within this Province, on condition, — That the rate of interest guaranteed shall not exceed six per cent. per annum, — that the sum on which interest shall be so guaranteed shall not be greater than that expended by the Company before the guarantee is given, and shall be sufficient...
Page 15 - Company 837,000 2,254,000 Leaving £7,246,000 This amount will be created and apportioned as follows : Stock in 144,920 shares of £25 each £3,623,000 Debentures of £100 each, payable in 25 years, bearing interest at 6 per cent, per annum, payable half-yearly, in London, and convertible into shares on or before the first day of January, 1803, at the option of the holder...
Page 6 - That, whereas it is of the highest importance to the progress and welfare of this province, that a Main Trunk line of railway should be made throughout the length thereof, and from the eastern frontier thereof through the provinces of New Brunswick and Nova Scotia to the city and port of Halifax ; and it is therefore expedient that every effort should be made to ensure the construction of such railway.
Page 10 - Province," in so far as the same are continued by and for the purposes mentioned in the Act passed in the twelfth year of Her Majesty's Reign and intituled "An Act to make provisions for the continuation and 12 Vie.
Page 7 - I must add that, if Her Majesty's Government is unable, either from want of time, or from the necessity of consulting Parliament, to come to a decision by that period, I must beg it to be understood that Canada withdraws from the present negotiations...
Page 16 - London 1,811,509 * £7,246,000 anticipated opening of the St. Lawrence and Atlantic section of the railway) the option of taking, in equal proportions, two-thirds of such remaining moiety ; that is to say, every holder of thirty such shares will, on the 1st July, 1854, be entitled to claim twenty shares more at par, together with an equal amount of debentures, also at par. Such additional shares and debentures to bear interest at C per cent.
Page 7 - If so, it is of the very highest importance to Canada that the fact should be known as soon as possible. I have reason to believe that I can effect arrangements on the spot with eminent capitalists, to construct all the railroads necessary for Canada with our own unaided credit.
Page 16 - ... are now open for traffic, to be increased to 390 miles by the close of the present year, 4. The execution of the whole remaining works being in the hands of most experienced contractors, the eminent English firm of Messrs. Peto, Brassey, Betts and Jackson, having undertaken seven-sixths thereof, including the St.
Page 15 - And debentures convertible into bonds of the Provincial Government, of £100 each, payable in 20 years, bearing interest at 6 per cent. per annum, payable half yearly in London 1,811,509 * £7,246,000 anticipated opening of the St.
Page 4 - And whereas experience has shown, that whatever be the case in long settled, populous and wealthy countries, in those which are new and thinly peopled and in which capital is scarce, the assistance of Government is necessary and may be safely afforded to the construction of lines of rail-way of considerable extent; and that such assistance is best given by extending to Companies engaged in constructing Rail-ways of a certain length under Charter from, and consequently with the approval of the Legislature,...

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