March 7, 1910 (11th Parliament, 2nd Session)

LIB

Frank Broadstreet Carvell

Liberal

Air. CARVELL.

This company has been doing business 'some 25 or 30 years on the Restigouche river both in Quebec and New Brunswick, and its business is increasing very rapidly. A cut of 25,000,000 feet a year was at one time considered fairly good, but last year the cut exceeded 100,000,000 and this year will likely peach 125,000,000. The facilities of the boom company are entirely inadequate to hold the lumber for certain periods, and the only way possible to get additional fa-

cilities is to take a portion of the rights on the province of Quebec side. Application was made to this parliament a number of years ago to secure this extension of rights, but because of the opposition of one important bond or stockholder, it was allowed to drop. I am now in a position to assure my hon. friend that every stockholder in the old company has agreed to the proposition and the stockholders are really promoting this Bill. They will be represented by their solicitor who has been here on two occasions, and the Bill has been redrafted by the solicitor of the old company and the law clerk. There will be no objection from any of the old stockholders, and the understanding is that the stockholders shall take the bonds in the new company for their stock.

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COAIPANY.
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