April 20, 1923 (14th Parliament, 2nd Session)

LIB

George Perry Graham (Minister of National Defence)

Liberal

Mr. GRAHAM:

The experience of the
company in insuring its property has been that a large profit has accrued to the insurance companies. I forget the exact figures, but I think the amount of insurance all told is three hundred and some odd million dollars, and if we were to include the Intercolonial railway, that has not been insured, the total would approximate $400,000,000. Those in charge of the insurance have taken into account all the valid circumstances, and they have come to the conclusion that with the experience in the various roads during the past ten years and the. amount of premiums paid, there could be a saving of about three quarters of a million dollars per annum by carrying our own insurance.

Topic:   CANADIAN NATIONAL RAILWAYS
Subtopic:   INSURANCE OF MORTGAGED PREMISES
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