Hon. R. J. MANION (Minister of Railways and Canals) moved that the house go into committee at the next sitting to consider the following proposed resolution:
That it is expedient to bring in a measure to empower the Canadian National Railway Company to issue notes for a sum not exceeding $13,058,004.63 for refunding requirements and capital expenditures for the calendar year 1933, and to authorize the Minister of Finance, with the approval of the governor in council, to make loans on the security of such notes to an amount not exceeding the said sum; and to authorize the Minister of Finance, with the approval of the governor in council, to make temporary and accountable advances not exceeding in the aggregate $47,9-41,395.37 to meet the net income deficits occurring during the calendar year 1933, the total of such deficits as certified by auditors appointed to audit the accounts of the company, to be included in the estimates submitted to parliament at the first session following the close of the said calendar year.
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.