May 17, 1904 (9th Parliament, 4th Session)

CON

William Barton Northrup

Conservative (1867-1942)

Mr. NORTHRUP.

The hon. gentleman: will see that by the amendment brought down this year the Grand Trunk Railway Company can acquire the $25,000,000 of stock in consideration of their guarantee, whereas, last year under the original contract, according to hon. gentlemen opposite, the Grand Trunk Railway Company could not acquire this stock in consideration of their guarantee. The hon. gentleman said last year that they must pay cash for it, and so the lawyers acting for the railway company said : Whatever our ideas may be as to that if the Minister of Justice says we have to pay cash for that stock we will make it beyond peradventure and so we will put a clause into this amended agreement, which will enable the Grand Trunk Railway Company to acquire the whole of this stock in consideration of giving the guarantee. So far the predictions of hon. members on this side of the House have been verified. When we find that our predictions have been verified so far and when we find the president of the Grand Trunk Railway Company representing to his shareholders exactly what we are contending today, I think we cannot be blamed if we are disposed to adhere to the opinion which we expressed last year.

Topic:   GRAND TRUNK PACIFIC RAILWAY BILL.
Full View