March 20, 1924

CON

Henry Herbert Stevens

Conservative (1867-1942)

Mr. STEVENS:

May I ask the minister if there is not some proposition that we purchase the building owned by the British Columbia government?

Topic:   PUBLIC WORKS
Permalink
LIB

William Lyon Mackenzie King (Prime Minister; President of the Privy Council; Secretary of State for External Affairs)

Liberal

Mr. KING (Kootenay):

Y es, that was under consideration but the government declined to dispose of the building.

Topic:   PUBLIC WORKS
Permalink
CON

Henry Herbert Stevens

Conservative (1867-1942)

Mr. STEVENS:

The provincial government declined to dispose of the building?

Topic:   PUBLIC WORKS
Permalink
LIB

William Lyon Mackenzie King (Prime Minister; President of the Privy Council; Secretary of State for External Affairs)

Liberal

Mr. KING (Kootenay):

Yes.

Topic:   PUBLIC WORKS
Permalink
CON

Henry Lumley Drayton

Conservative (1867-1942)

Sir HENRY DRAYTON:

Would the minister in the information he is to bring down to-morrow advise us what the total amount is now being paid, for rentals for offices in London which will be accommodated in this building. He might at the same time tell us what our position will be at the end of the 100 years' lease, and what rate he proposes to set up for the yearly amortization of our interest during those 100 years, and what the carrying rate will be. The amortization of course goes to the value of the lease as such, it being a lease for a term stated, apart altogether from the question of the depreciation of the building which he has to consider when he is making his calculation. We would also like to know at what rate of interest the amortization is to be considered, both of the lease as well as the depreciation; and also the rate of interest that the minister thinks should be allowed at arriving at the annual cost to the country of the investment

Prohibition in United States

in the property. Then it is suggested that the taxes change. Of course they do change. The hon. Minister of Railways (Mr. Graham) suggested that. Perhaps the best thing we could have on the question of taxes would be the production of the tax bills for the last three years, showing the whole amount of taxes payable. I do not suppose the bills arc here, but the information must be here, because I assume this matter has been carefully considered by the High Commissioner; in fact the minister told us so; and undoubtedly when anybody makes a purchase of this magnitude one of the first things he would consider would be the tax commitments. In addition to that, perhaps we could get some information as to the character of this building by finding out what the insurance rate upon it is, and what the insurance charges will be. Of course, over and above that, I assume the information in regard to taxes will not only include the usual municipal rates but would include all services. I think the minister is well aware that they have special services and special rates that apply in England, and in London particularly. I have no doubt the Minister will have it all. We are proceeding under the assumption that there has been a change in the personnel of agents buying property in our consideration of the matter. I do not suppose Mr. Arono-vici had anything to do with it, but perhaps it would be just as well if the minister would tell the House who the agent handling the matter is, the commission, and the names of the present lessors.

Mr.' KING (Kootenay): I will be glad

to supply any information I can obtain to the committee to-morrow.

Progress reported.

On motion of Mr. Graham the House adjourned at 10.35 p.m.

Friday, March 21, 1924

Topic:   PUBLIC WORKS
Permalink

March 20, 1924