BIG RAILWAY DEAL.
Hand to Hsnd Enterprise. Press Association —Copyright. Eeeeived July 4, 4.43 p.m. Ottawa, Yesterday. The Government of the Dominion has decided to construct, under the supervision of a specially-appointed commission, a railway from Monckton, in New Brunswick, to Winnipeg. The line is to run via Queb c, passing 100 miles northward ot Montreal. The cost is set down at £12,000,000, and on completion will be handed over to the authorities of the Pacific Grand Trunk Eailway for 50 years. The company will equip the line with rolling-stock. No rent will be charged during the first quinquennium, and the surplus over working expenses will be chargeable in the second quinquennium. Thereafter the company is to pay 3 per cent on the original cost of construction-. The company undertakes to construct a section from Winnipeg to the Pacific terminus at Port Sampson, the Government guaranteeing bonds at 8 per cent. The captial of the Grand Trunk Company is 6xed at .£9,000,000. The other companies aro to retain running rights between Winnipeg and Monokton.
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Bibliographic details
Manawatu Times, Volume XXVII, Issue 7757, 6 July 1903, Page 2
Word Count
174BIG RAILWAY DEAL. Manawatu Times, Volume XXVII, Issue 7757, 6 July 1903, Page 2
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