Amendment agreed to.
Item as amended agreed to.
Loan not exceeding $26,000,000, repayable on demand with interest at the rate of six per cent per annum, payable half-yearly, to
be used (where amounts available from net operating earnings may be insu..cient) to meet expenditures made or indebtedness incurred at any time (by or on behalf of the Grand Trunk Pacific Railway Company or any company comprised in the Grand Trunk Pacific Railway system, (excluding herefrom, however, guarantees by the Grand Trunk Railway Company which are provided if-or in item (if) of the next preceding vote), on any of the following accounts:- (a) operating deficits, (b) acquisition of .property, materials and supplies, (c) interest on notes, (securities or obligations, (dj the principal and interest of maturing or matured loans, secured or unsecured, (e) construction and betterments; such loan to be secured by mortgage or mortgages upon the undertaking of the Grand Trunk Pacific Railway Company on such -terms and conditions as the Governor in Council may approve. The loan or assistance herein authorized may be made in cash or by way of guarantee, or partly in cash and partly by guarantee, in the discretion of the Governor in Council. Any guarantee from time to time given under the authority herein may be of the principal and interest of the notes, obligations or securities of the Grand Trunk Pacific Railway Company, and may be signed by the Minister ,of Finance, on behalf of His Majesty, in such -form and on such terms and conditions as the Governor in Council may approve.