April 19, 1904 (9th Parliament, 4th Session)

CON

Thomas Inkerman Thomson

Conservative (1867-1942)

Mr. T. I. THOMSON (North Grey).

Mr. peaker. the fact that the government have ot a speaker to answer the arguments of iv lion, friend from East Prince (- [DOT]
;;r;L
'Son thta question at the last
RF.VfftKO i:t>lTION

The above estimate assumes that the money can be borrowed on 3 per cent securities at par-but if securities arc placed at 90 (and the Finance Minister has admitted that they will not bring par) the result would be :
To provide $75,000,000 at 90 per cent
as cost of 1,875 miles $ 83,333,334
Four years simple interest during construction, at 3 per cent, $2,500,000 per year for 4 years 10,000.000

Assuming the cost of the railway to
completion to be $84,000,000
We must add seven years' interest (not compounded) after completion, during which the Grand Trunk Pacific is to pay no rent 17,640,000

Interest on this sum for three years additional, during which no rent is collectable, unless earning3 are
sufficient (not compounded) ... 9,147,600

But, as above stated, if the securities are placed at 90, instead of at par
the cost of the railway will be______$ 93,333,334
Seven years' interest after completion (hot compounded) 19,600,000

Interest on this sum for three years additional, during which no rent is collectable (not compounded).. .. 10,104,000

Topic:   RAILWAY CONNECTION AT BROCK-YILLE.
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