Hon. GEORGE P. GRAHAM (Minister of Railways and Canals) moved that on Tuesday next the House go into committee to consider the following proposed resolution: That it is expedient to amend the provisions of section 6 of the act respecting the Toronto Terminals Railway Company, chapter 70 of the statutes of 1924, whereby the Canadian National Railway Company was authorized to issue bonds, debenture's or other securities to an amount not exceeding seven million dollars, [Mr. Shaw.)
in addition to the issue authorized by subsection two of the section enacted thereby; and to provide that such bonds, debentures or other securities may be used,-
(a) in the purchase at par of securities issued by the Terminals company not exceeding, together with the securities purchased under the provisions of subsection two, one-half of the total securities to be issued by the Terminals company for the purpose of its undertaking;
(b) in defraying the cost of portions of the said viaduct and works, which will not be included in the works to be owned by the terminals company, and will have to be constructed for or by the Canadian National Railway Company itself.
He said: His Excellency the Governor
General, having been made acquainted with the subject matter of this resolution, recommends it to the favourable consideration of the House.
Motion agreed to.