Hon. GEORGE P. GRAHAM (Acting Minister of Railways and Canals) moved that the
House go into committee to consider the following proposed resolution.
Resolved, that the Governor in Council may from time to time cause an agreement or agreements to be executed by or on behalf of His Majesty the Ring, undertaking or guaranteeing that any company mentioned or referred to in chapter thirteen of the statutes of 1919 (first session), entitled: An Act to incorporate Canadian National Railway Company and respecting Canadian National Railways, and in chapter thirteen of the statutes of 1920, entitled: An act to confirm the agreement dated the eighth day of March, 1920, between His Majesty the King and the Grand Trunk Railway Company of Canada for the acquisition of the capital stock of the said Grand Trunk Railway Company, except the four per cent guaranteed stock, will restore or make good all loss or damage to the mortgaged premises comprised in any mortgage or deed of trust (hereinafter called "such mortgage") at any time executed by any such company occasioned by fire or other casualty against which such company covenanted in such mortgage to insure, and indemnifying the trustee or trustees of any such mortgage against any consequences arising from any failure-(a) on the part of such company to comply with such covenant to insure, and (b) on the part of such trustee or trustees to take any action in respect thereof. The times and manner of the giving of any such agreement or agreements, and the form and terms thereof and the person who may sign the same on behalf of His Majesty shall be such as the Governor in Council may from time to time approve or direct.