The company that has been set up and authorized by the New York state legislature. When the act was passed in May of this year it set up an authority with the power to raise the necessary funds in the United States. It is a private authority. The bonds do not have any government backing in any way. I understand, however, that a traffic survey was made by the state of New York before the New York state assembly passed this act allowing the authority to be created, and it was found that the traffic to be served would warrant the expenditure of a large sum of money to complete a bridge between Ogdensburg and Prescott. Therefore, with this blessing, there is no reason why the authority as set up in the state of New York cannot raise its funds
through the usual financial channels-banks, trust companies or otherwise
in the United States. I do not anticipate that any money will be raised in Canada.
Topic: OGDENSBURG BRIDGE AUTHORITY