Correspondence Between the Hon. William Napier, on Behalf of the English Shareholders of the Grand Trunk Railroad Company, and the Hon. Wm. Cayley (Inspector General) with Introductory Memorandum and Extracts from Debates, &C (Classic Reprint)
Excerpt from Correspondence Between the Hon. William Napier, on Behalf of the English Shareholders of the Grand Trunk Railroad Company, and the Hon. Wm. Cayley (Inspector General) With Introductory Memorandum and Extracts From Debates, &C State as Canada, the magnitude of whose ultimate commercial future it would be presumptuous to attempt to estimate. Looking therefore to all the circumstances under which the capital Of the Grand Trunk Company was subscribed, and to the lamentable prospects Of the Undertaking, if left in its existing con dition, - the Shareholders earnestly appeal to the Government and Legislature of Canada for a pledge of confidence in this great national Railway Enterprise by a Guarantee of a dividend of 5 per cent. On the share capital Of the Undertaking, after the payment of all its fixed charges; the consideration to be, the reversion Of the Undertaking in absolute property and in the most efficient working order, at the expiration of, say, 99 years. Under ordinary circumstances in such Guarantees, the risk of any possible loss is Of course borne by the State, but in this parti cular instance, remembering the great liberality Of the Province towards the Enterprise and the natural disappointment of the people of Canada at its present condition, and looking to their own individual conviction of the ultimate realisation Of all the prospects originally hoped for, the Shareholders are anxious also to give a strong mark Of their confidence; and propose, that should any deficiency ensue during the first five years after the completion of the line to Toronto, in respect of the Guarantee, and wishing to preserve intact the surplus revenues Of the Provinces, they are ready to agree and to give proper security, that all such annual deficiency, during that time, shall be subscribed by the Company, and be converted into Share Capital, under a like Guarantee by the Provinces, and the amount of which shall be estimated and allotted pro rata, among the holders Of the Stock, at the time of the granting of the Guarantee. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
- Paperback | 78 pages
- 152 x 229 x 4mm | 118g
- 05 Jan 2018
- Forgotten Books
- 20 Illustrations; Illustrations, black and white