of a report which has been received from the trustees of the railway system in conformity with the act. That makes the total sum required for the railway's operation under the headings I have mentioned $65,228,133.
The bill is in two parts. The first part has to do with what might be termed the ordinary financial requirements of the railway for the year. The second part makes provision for the refunding of two maturities for the calendar year, the first one falling due September 1, 1934, and amounting to $17,060,333.33, Canadian Northern four per cent guaranteed debenture stock and bonds; also Great Northern Railway of Canada four per cent first mortgage bonds falling due October 1, 1934, amounting to $3,510,250. It also provides for the refunding of a maturity falling due on February 15, 1935, Canadian Northern Railway Company 4jj per cent guaranteed bonds, amounting to $17,000,000. It was thought wise that we should secure at this time legislative authority to refund or otherwise take care of that maturity lest there might not be time to secure legislative authority having regard to the date at which the session might commence.
Motion agreed to and the house went into committee, Mr. Sullivan in the chair.