CANADIAN RAILWAYS.
A NEW LINE TO BE CONSTRUCTED, TWELVE MILLIONS TO BE SPENT. (Received July 5, 4.43 p.m). OTTAWA, July 4. Tho Dominion Oovcrument has decided to construct, under tno supervision of a specially-appointed Commission, a railway from Moncton, ia New Brunswick, to Winnipeg. Tiio line is lo run via Quebec, passing a hundred miles northward of Montreal. Tiio cost is set down at twelve million sterling'. On completion the line is to bo handed over to the authorities of tho Pacific Grand Trunk Railway for fifty years. Tho company will equip the lino with rolling stock. No rental is to be charged during tho first quinquennium, and tho surplus over working expenses will be chargeable ill tho second quinqueuuium. Thereafter tho company is to pay 3 per cent, on the original cost of construcdon. Tho company undertakes to construct a section from Winnipeg to the Pacific terminus at Port Sampson. Tho Government is guaranteeing the company’s bonds at 3 per cent. Tho capital of tho Grand Trunk Company is fixed at nine millions sterling. Other companies are to retain running rights between Winnipeg and Mouoton.'
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Bibliographic details
New Zealand Times, Volume LXXV, Issue 5009, 6 July 1903, Page 5
Word Count
186CANADIAN RAILWAYS. New Zealand Times, Volume LXXV, Issue 5009, 6 July 1903, Page 5
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