February 11, 1927 (16th Parliament, 1st Session)

PRO

Archibald M. Carmichael

Progressive

Mr. CARMICHAEL:

I am not perfectly
clear in regard to the interpretation of the percentages. Section 3 provides:
The scheme of arrangement having already been assented to in writing by the holders of three-fourths in value of the Pacific stock-
That is altogether different from saying, "three-fourths of the holders of the stock". The minister says that ninety-two per cent of approximately seven thousand bondholders have given assent. Does he mean the holders of ninety-two per cent of the stock or ninety-two per cent of the holders of the stock?

Topic:   SUBSTITUTION OF CANADIAN NATIONAL FOR GRAND TRUNK PACIFIC SECURITIES
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