New-York tribune., 1907-10-03
c. ?. R, IMPROVEMENTS.
COUPANY,S PROSPERITY.
Nee Issue of Stock authorized
additions and Extensions.

iADIil4edi Oct. 2-StoCkholders of the Canadian
racine hallway Company at their annual meeting
Today authorized the issue OF debenture stock
Surlcleht 10 finance several additions and extern
i0i.S 10 the road Two additional steamships will
oe pullt or acquired either for the Pacific At
iahuc service. and two for lake service. Sir Will
lam g van Horne was reelected chairman of the
Ooaro OF directors, and Sir Thomas G.. Shaugh-
messy president The report of the board of direct
o[s was unanimously adopted Sir William c. Van
iio'ne' T. B. Osler. r. 3. Angus and l.. J. Forget
were reelected directors
resolution was adopted authorizing the lease Of
the St Mary's & Western Ontario Railway
issue Of per cent debenture stock author
ized for the following purposes For acquisition Of
the bonds Of the Northern Colonization Railway,
thirty-four miles, not exceeding 500 mile for
additional issue on the Sudbury branch not ex-
ceeding $4,000 mile for 226 miles; for lake
steamers 100000 and one Pacific Coast steamer
S'Z5Oo. FOR the Regina aSaskatoon branch 1s5 miles
and for extension Of the Moosejaw branch 100 miles
at $4,000 mile.
The board was authorized TO arrange for the con-
struction or purchase of two additional steamships
Tor the Pacific trade. or to build two larger and
faster boats for the Atlantic service transferring
the Empress of Britain and Empress Of Ireland 10
the Pacific and to incur the necessary capital
pendture therefor
In moving the adoption of the annual report OF
the board OF directors President Shaughnessy said
The twenty-sixth annual report of the company,
which have the honor on behalf Of the directors
70 submit for your approval, shows increase in
your gross revenue from traffic OF than
Si."HVO Tor the year, but the effect OF an unusu-
ally severe winter and Of the enhanced cost Of labor
and material is shown in the increased ratio of
working expenses to income
You will have noticed by the statements included
ciiitate the hanSliD I vo,r tTfo ba bssn 10 yi
tional cars and locomotives was particularly large
there has been change in the policy OF your di-
rectors with reference to these matters indeed
prolonged setbacL-and there are no present
E MAKE i neoesssr M R.eonns tb.. exnendl
lures year by year. but is1nay be on q somewhat
To provide the requisite means your directors will
az future date ask you to sanction the issue Of
ized as and when required but there are sufficient
In Ontario. although the yield Of wheat was sat
isfacory the season has not been auspicious one
you are more largely Interested. the very back
ward spring has resulted in shrinkage Of prob
ably % per cent in the quantity OF marketable
wheat, as compared with last autumn. There will.
quantity Of oats and other grains so that. with
the higher price Of wheat the farmers OF Western
much for the produce as as they dld last year al
Because Of the late harvest and the consequent
ports on Lake Superior in the month OF Sep
IN September. 1905. but. Notwithstanding this large
failing of in that particular class OF traffic, your
comparatively weekly earnings have thus far shown
no diminution and we anticipate an extraordinary
rIsh Of grain to the head Of Lake Superior before
the close OF navigation While the comments on
the report in financial papers are generally com
Or two Articles in which It is suggested that the
directors should bring before the shareholders the
is not easy TO do this with any degree OF accuracy
but IT may be fairly assumed that in tho case OF
your agricultural lands. sales are made and the
decreases the value OF remaining LANDS VII
acres Of tho original grant stil unsoid win yield
the average price an acre conslderebly nIgner
manner obstructins settiement depriying your
company Of the traffic advantases resulting from
Your lands IN British Columbia are OF dineTSnt
s6s nge .he h Possby Of large coal deposits
although there are some areas n the Ealeys sun
2ea4s 2eg foF consderaSs deanS has sprung up
theSe @ v,a9 g1ds haSss69e ha6 sn9 Petgrn III"
By the end Of the present s61 miles Of
the western section Of the irrigation block; suff-
Gent to give ot w'sE Va m 9" go scPee to be served In that
section, and the ultimate cost Of the work which
bogbood OF S. 80 an acre including the expenditure
on the main canal which will be available Tor tho
Your steamship tines on both the Atlantic and
Pacific have not 1Hy Gesn to
the revenue Of the railway by bringing to 1t traHo
There e are now in the service Of the company
Officers o6s and 0g oPos: % *. oe Tts nnS4 S &
Poyss ssts n .syns that 'o 70 900 are located
i've N persons 70 fsin 90 these Soad represent
$50 900 souls. or more than One.twentisth Of IN the
setas sGdJd RlPSs'Sa the %en Il I s T:ss %
d
fifteenth 81 not one-tweIfth. OF the people Of
the country directly Indirectly, receive their
income from the company.
THE dividend from land interest account win be
the n the es cen eaT two as m
sits Jnents OF one-half per cent saoh
Al the meeting Of the board Of directors subse-
opsn.lv held Sir William C. Van Horns
.,.cted chairman Sir Thomas @. Ehanghnessy
rres,dent and David MoNiooll v1ce-president OF
+ha company and the executive committee was
appointed as follows: Lord Strathoona and Mount
povoI Sir Thomas G. Shaugnnessy. Sir William
n yor 1ornA Richard p. Angus Edmund B.