May 15, 1914

LIB
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

It is not in the

printed books, but it is in the statement which the right hon. leader of the Opposition found in the return and which was admitted in the discussion a few days ago. The figures which I have given make a total indebtedness of $94,279,637.56.

Topic:   EDITION
Permalink
CON

Arthur Meighen (Solicitor General of Canada)

Conservative (1867-1942)

Mr. MEIGHEN:

Will the hon.. gentleman give the figures again ? I do not see how he makes the $94,000,000.

Topic:   EDITION
Permalink
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

Floating liabilities, $10,000,000; due on construction, $21,262,000; balance necessary for completion, $41,905,000.

Topic:   EDITION
Permalink
CON
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

I am speaking of the amount of money which this company requires in order to complete the railway, and I am including in that the liabilities which exist to-day and the amount of money which they state they require, after giving credit for all the assets set out on page 9 of the blue-book. I add to that $20,703,000, the amount which is owing. to the banks, and I make a total of $94,279,637. It is

stated that $24,000,000 are pledged to the company as security for this $21,000,000. Supposing these securities have a par value; there would be to the credit of the company, coming from the banks, $3,396,135.

Topic:   EDITION
Permalink
CON

Arthur Meighen (Solicitor General of Canada)

Conservative (1867-1942)

Mr. MEIGHEN:

Just to correct the hon. gentleman, I may say that the $24,000,000 is not on the basis of a par value; it is on the basis of the quoted value in the market at the time. u

Topic:   EDITION
Permalink
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

In the light of the fact that a good deal of information about this bargain is in my hon. friend the Solicitor General's head, and not in these

books-

Topic:   EDITION
Permalink
CON
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

I want to ask my hon. friend the Solicitor General to lay upon the table of the House at once a statement of the securities that have been pledged to the banks and what their normal value is. .

Topic:   EDITION
Permalink
CON
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

It is not in the books. If there is a statement tabled, I have no doubt that the hon. member for Calgary and the hon. member for Kingston had it, in view of their speeches of yesterday. At any rate, it was rather difficult for hon. gentlemen on this side of the House to get it.

Topic:   EDITION
Permalink
CON
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

My hon. friend will tell me this: At what does he value the securities that are pledged to the banks?

Topic:   EDITION
Permalink
CON

Arthur Meighen (Solicitor General of Canada)

Conservative (1867-1942)

Mr. MEIGHEN:

I will get that in a moment. In the meantime, let me say that everything was printed that was asked to be printed; the rest was laid on the table of the House.

Topic:   EDITION
Permalink
LIB
CON

Arthur Meighen (Solicitor General of Canada)

Conservative (1867-1942)

Mr. MEIGHEN:

I have a right to say that, whether my hon. friend desires it or not.

Topic:   EDITION
Permalink
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

My hon. friend has a right to say nothing which I do not permit him to say during the course of my speech; he may as well understand that. I asked my hon. friend what he gives as the value of the securities now pledged to the banks for the loan of $20,000,000?

Topic:   EDITION
Permalink
CON

Arthur Meighen (Solicitor General of Canada)

Conservative (1867-1942)

Mr. MEIGHEN:

$24,324,029.10. The

price of each one is given in the statement.

Topic:   EDITION
Permalink
LIB

Edward Mortimer Macdonald

Liberal

Mr. MACDONALD:

Then my hon. friend need not have corrected me, because I was .giving him exactly that amount.

Topic:   EDITION
Permalink

May 15, 1914