RAILWAY STOCK
CANADIAN GRAND TRUNK. LEAVE TO APPEAL GRANTED. Press Association—By Telegraph—Copyright. LONDON, December 21, (Received December 22, at 10 a.ra.) The Privy Council granted the Canadian Grand Trunk Railway leave to appeal against the arbitrators’ decision A. and N.Z. Cable. [When the Canadian Government took over the Grand Trunk Railway arbitrators were appointed to decide \ hat value should he placed on the common preferred stock, which would define the amount the Government would p>ay. The arbitrators agreed that stocks which had a par value of 37,000,000d0l were worth nothing; consequently the Government would not pay the holders anything. The chief reason for the decision was that during the last few years the railway had encountered heavy annual deficits, that it had no chance to make money in the near future, and that it would be forced, to appoint a receiver.]
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Bibliographic details
Evening Star, Issue 17850, 22 December 1921, Page 6
Word Count
141RAILWAY STOCK Evening Star, Issue 17850, 22 December 1921, Page 6
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