CANADIAN G.T.R
VALUELESS SHARES. NEAR THE BANKRUPTCY MARK OTTAWA, September 8. When the Canadian Government took over the Grand Trunk Railway, arbitrators were appointed to decide what value should be placed on the common and preferred stock, which would define the amount the Government would pay. To-day tho arbitrators agreed that stocks ■which had a par value of 37,000,000d0l are worth nothing, consequently the Government will not pay the holders anything. • The chief reason for this decision is that during the last few years the railway encountered heavy annual deficits, and as it had no chance to make money in the near future it would soon have been forced into a | Mr. W. H. Taft (former President of the United States), who rep-esented the Grand Trunk Railway, dissented from the decision. Undoubtedly til™ result will bo a tremendous shook to English shareholders in the railway, and they will doubtless appeal to the Privy Council.—(Router.)
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Auckland Star, Volume LII, Issue 215, 9 September 1921, Page 5
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154CANADIAN G.T.R Auckland Star, Volume LII, Issue 215, 9 September 1921, Page 5
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