July 17, 1908 (10th Parliament, 4th Session)


Frederick Debartzch Monk

Conservative (1867-1942)


per cent interest from the time they got their certificate of stock. For instance, the one who subscribed $94,000 got his certificate immediately-he paid up three years after. We are to pay 5 per cent from the time when the certificates were given. And 10 per cent premium besides. And what else? Who knows what are the liabilities of this company I asked the question repeatedly of witnesses who appeared before the committee : Have you any statement
of the affairs of the company? There was no statement. Who knows what debts we are assuming in taking over the debts of the company-for there is a stipulation in the agreement that we must pay all the debts of the company contracted 1 with the [DOT] assent and approval of the government.' These are very vague words. Why, as soon as this resolution is put in operation the claims will appear as thick as the leaves in Vallambrosa. What ground is there for it? None whatever. I still have confidence, great confidence in my right hon. friend Sir Wilfrid Laurier that he will drop that resolution, for if passed it will have the effect of plunging us into a sea of liabilities of which we know nothing. But, in the first place, if that resolution passes it is admitted that we must pay nearly $400,000 to the stockholders.

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