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 ^ /IPPLIED IIVMGE Inc 
 
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 JS (716) 482 -0300- Phone 
 
 = (7 '6) 288- 5989 -Fox 
 
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 GKEAT msnMaAM^AY I 
 
 
 OF CANADA. ->; 
 
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 SPECLVL REPORT 
 
 OF THE 
 
 BOARD OF DIRECTORS, 
 
 TO THE 
 
 EmiSH SHAKEHOLDEES. 
 
 HAMILTON: 
 
 PRINTED AT THE SPECTATOR OFFICE. 
 
 1853. 
 
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 REPORT. 
 
 The public discussion which is taking place in regard 
 to the Railway policy of Canada— the Meetings which 
 have been held at Hamilton and London, as to the 
 attempt now being made by the Grand Trunk Com- 
 pany to construct a rival competing line to the Great 
 Western Railway, and thereby to force it into an amalga- 
 mation with its gigantic opponent— and the remarks 
 which are almostdaily appearing in a portion of the Ca- 
 nadian Press upon the subject, seem to the Directors of 
 ^e Great Western Railway Company, (a«the Grand 
 il-unk and Government are here viewed . one ) im 
 peratively to call upon them to address their distant 
 Shareholders in England, both for the purpose of ex- 
 plaining the position in which the Company stands, and 
 also in order to indicate the policy which they have 
 after mature consideration, determined to follow in 
 the present juncture. 
 
 The proceedings which took place at the Annual 
 Meeting in June last, and the part taken by some 
 members of the Board at the Public Meetings alluded 
 to, have sufficiently testified to the Shareholders in 
 this country, the views entertained by the Directors- 
 but the distance at which the English Shareholders are 
 renders It highly important that the policy of the Board 
 should be fully and distinctly placed before them. 
 rv,of. "■ i •--^^n^ tu discuss me very important 
 matters which will form the subject of this Report, itia 
 
4 
 
 necessary in the first place to remark upon a statement 
 which appeared in the "Toronto Leader," a newspaper 
 which IS understood to be an organ of the Canadian 
 Government, and apparently also of the Grand Trunk 
 Company. The statement alluded to is, that differences 
 of opinion or misunderstandings exist at the present 
 time at the Great Western Board. The simplest and 
 most decided answer to that insinuation will be found 
 m the fact, that every Director now in this country 
 has appended his signature to this Report, as embodying 
 the deliberate opinion of the Board upon the important 
 questions of which it treats. 
 
 The Directors of the Great Western Railway Co 
 wiU now proceed to review the proceedings in this 
 country, in reference to Railway undertakings, in so 
 for as they affect the position and prospects of the 
 Great Western Railway. 
 
 Between the years 1834 and 1839, Acts passed the 
 Canadian Legislature, by which the present Great 
 Western Railway was constituted, and which gave it 
 power to construct lines of railway from Niagara Falls 
 through Hamilton and London, to Windsor and Port 
 fearnia. The scarcity of capital in Canada itself, and 
 other circumstances, tended to delay for several years 
 the progress of a work which had always been looked 
 upon as of such great Provincial importance. The 
 Board at length therefore endeavored to create a foreign 
 confidence in the undertaking. In their published Re- 
 ports they shadowedforth the idea of a Trunk lineof rail- 
 way, passing throughout the whole length of Canada. 
 -- — ^ " • •-'--^^'^iii vwtaixiiiig un iicc oi I'arlia- 
 
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 ment permitting the Governi- t, under certain condi- 
 tions, to guarantee the inti .^,t upon the bonds of 
 Kailway Companies in Canada, and in 1850 they procur- 
 ed the passage of an Act of Parliament, authorizing 
 Municipal Corporations to become shareholders in Rail- 
 way Companies. 
 
 Acting upon the faith of these proceedings, which 
 were always held to be the recognition of the Great 
 Western as the first step of a great Provincial system 
 of a Trunk line of Railway, the Directors of the 
 Great Western Company were enabled to procure the 
 support of the leading railway authorities in the Uni- 
 ted States, who had lines abutting on the two extremi- 
 ties of the Peninsula of Western Canada, which found 
 their best and most natural connection along the 
 Great Western line. Subsequently, the completing 
 of a main trunk line through Canada was seriously 
 discussed, (the promoters of the Great Western, be it 
 kept m view, being the most influential parties in this 
 movement,) and accordingly the Canadian Parlia- 
 ment on the 30th August, 1851, passed an Act by 
 which it was proposed to construct the Railway, under 
 a guarantee from the Imperial Government. In the 
 4th clause of that Act, it is provided that "The whole 
 of the Main Trunk line of railway, from the city of 
 Quebec, or a point opposite thereto, to the city of 
 Hamilton, or some convenient point on the Great West- 
 ern Railroad, shall be made as a Provincial Work » 
 And again in the 16th clause, it is provided that the 
 Provincial guarantee, authorized by the Act of 1849, 
 should be limited to the lines which form a part of the 
 
H 
 
 6 
 
 Main Trunk ; and after speaking of certain lines then 
 constructing by pnvate companies, proceeds to say 
 that the guarantee shall be extended "to the Great 
 ^^ Western Railroad, which has been commenced and 
 partly constructed on the faith of the said guarantee, 
 mid forms part of the said Main Trunk Line " 
 Upon the faith of these proceedings, plainly and con- 
 clusively shewing the Great Western Railway to be a 
 part of the Main Trunk series of lines, "the Directors 
 ot the former were enabled to induce English capital- 
 ists to embark money in the undertaking, which even 
 then presented ^reat prospects of a remunerative re- 
 suit, although n. . so great as the existing circumstan- 
 ces now hold out ; and which seemed, by the Acts of the 
 Canadian Parliament, to be protected against the adop- 
 tion of a wild and reckless system of competition. 
 
 If any thing further is needed to indicate that the 
 Great Western was a part of the Trunk line, it may 
 be found in the fact that the Canadian Government, 
 finding it impossible to procure the Imperial guaran- 
 tee contemplated by the Act of 1851, called into ex- 
 istence private companies for constructing the Trunk 
 line between Montreal and Toronto; and in the re- 
 quired Proclamation, issued by order of the Governor 
 in Council, there occurs this passage, defining the actual 
 course of the line— viz : 
 "Now know ye, that having taken the premises into 
 our Royal consideration; and being desirous of advanc- 
 mg and promoting the interests of our said Province. 
 We have directed and declared, and do hereby direct 
 and declare, that the said Main Trunk Line of Railway 
 shall be made upon a Une extending from some pomt on 
 
 
 
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the Eastern frontier of our said Province, hereafter to be 
 
 determined upon to some point (hereafter to be fixed) 
 
 ' m the Parish of St. Joseph de la Point Levy, opposite 
 
 or nearly oppostetothe City of Quebec, runn^ngCe 
 
 "Riv^rTF" ^ •"'•"' "^'^ ^' found convenient to the 
 River St. Francis, m or near the Village of Richmond, 
 
 m the Township of Shipton, thence by the St. Law- 
 rence and Atlantic Rail-Road to the City of Montreri 
 
 «Et wJ T^/ «PPr*!, thereto, and further ex- 
 
 «RiVer I T^ ' ^''^Tr^^'^ point on or near the 
 
 «K nifn ^^'"^'""? ^'J I^^^e Ontario, in the vicinity of 
 
 Kingston aforesaid; thence to the City of Toronto • 
 
 on the hue of J^ Great Western JRaUroad, and thence 
 
 /rom <Ae C'% of Hamilton to the Maqara River 
 " t'eSessi" -Act of the said LegislatuTpiS 
 «tituIp/« A T w ''^^' '^^P^^'^^ seventy-four; and in- 
 
 "patd'infh''.^ '". f'^"^ '.^^ P^^^^«^^"« «f- ^et 
 "Provt-i^ the present Session, intituled An Act to make 
 Piovision for the construction of a Main Trunk Line of 
 "Railway throughout the length of their Province.'^ 
 
 What ingenuity or what sophistry then can assert that 
 the introduction of the line from Guelph to San.ia is 
 not a breach of faith towards this Company, and the 
 introduction of competition into this country ? 
 
 Again there is the faci, that the same Government at 
 ^e close of last year, actually advanced to the Great 
 Western Railway Company, as part of the Main Trunk, 
 and^under the authority of the already quoted Act of 
 loui, a sum 01 A200,000 Stg. 
 
a 
 
 As has been said the project of an Imperial guaran- 
 tee failed, and it was therefore left to private Companies, 
 with the assistance of the Provincial guarantee, to carry 
 out the various sections of the Trunk line. Accordingly 
 the Great Western Railway Company and its friends, 
 applied in 1852 to Parliament for authority to make a 
 Railway from Hamilton, their then Eastern terminus, to 
 Toronto, which was granted; the Act of Parliament 
 containing the following words in the 2nd clause, viz-— 
 "The said Railway shall beheld to /om part of the 
 Mam TrunJe Line of Railway, and the said Company 
 shall accordingly, upon complying with all the provisions 
 of the law in that behalf, be entitled to ihe benefit of the 
 guarantee of the Province, to the extent and in tha 
 manner by law provided." 
 
 Here then is the Great Western Company carried 
 Eastward as far as Toronto " as part of the Main Trunk 
 Line," and upon turning to the Grand Tmnk Act itself, 
 It appeai-s that it authorizes that Company to make a line 
 of Railway from Montreal to Toronto, thus carrying out 
 the intention of all preceding Acts, both of Parliament 
 and the Government, of making the Great Western 
 Railway a part of the Main Trunk Line. 
 
 ^ The proceedings which took plac^ at the time that the 
 Grand Trunk Act was before the Railway Committee 
 of the House of Assembly, must next be set forth, as 
 bearing in conjunction with what has since taken place, 
 a very important part of the present statement. 
 
 The present Prime Minister of this country proceeded 
 to England, after the passing of the Act of 1851. as to 
 
 <. 
 
9 
 
 a ^arantee from the Imperial Government, and finding 
 that such a scheme could not be carried out, made some 
 arrangements with a firm of eminent Railway contrac- 
 tors, to construct upon certain terms, the portion of the 
 Main Trunk Line from Montreal, through Kingston, to 
 Toronto. In the meantime, however, as before r^en- 
 tioned, the Governor in Council had, by proclamation, 
 called mto existence private Companies for the construc- 
 tion of that part of the line, and the necessary stops to 
 organize the Companies had been taken It appears that 
 the stock was taken up mainly by Messrs. A. T. Gait L H 
 Holton, and D. L. McPherson, who were all three interest- 
 ed in the construction of the line. 
 
 These gentlemen (Messrs. Holton and Gait especially) 
 strenuously opposed the granting of the present Grand 
 Trunk Act, and not without reason set up their vested 
 rights, called into existence as they had been by the act 
 of the Government, under the authority of an Act of 
 Parliament, and expecting as they did, to benefit by the 
 construction of the line. The proceedings before the 
 Railway Committee are on record, and it appears that 
 despite the opposition of Messrs. Holton and Gait the 
 Grand Trunk Bill passed the Committee, and was ordered 
 to be reported to the House. The opposition to it was 
 stiU continued, but at length was suddenly, and without 
 %e decency of any alleged cause put an end to, to the utter 
 amazement of the country at large; and the names which 
 appear in the Grand Trunk Act, include those of Messrs. 
 Gait, Holton, and McPherson, its bitter opponents when 
 before the special Committee. 
 In the same Session a Bill was introduced, the pream- 
 
10 
 
 ble of which is as follows • « a « a x x 
 
 «a luuows . — " AnAct toamend thfl A^* 
 
 mcorporat^gtheTorontoandGuoIphKailwa/c';:^^^^ 
 18^, a'T ™'' '^""'P'' ^<" •"«• been passed in 
 
 doubts a^to certam bonds which the Company had i^ued 
 
 t-uelphhnem..ude Messrs. Gait, Holton and McPhereon. 
 wordT- nZf "" ""'" "'""""'"'"^d the following 
 pomts on Lake Huron and the River St. Clair, with a 
 branch hne to London and Woodstock"; butwheirh biU 
 came before tl.e Railway Committee, aL the ¥ Trunt 
 M had been passed by the Committee, the former was 
 found to contain authority to extend the Guelph line to 
 ^a™., ,„the facoof thelatte. place having ieady in 
 
 heCharteroftheOreatWestem, secured connectionwith 
 the Trunk senes of Railways, and Goderich having desired 
 an outlet through the Goderich and Buffalo line then before 
 Parlmmeni, and their decided preference for which, the 
 United Counties of Perth, Huron and Bruce, (the 
 District ly,ng between Guelph and Samia.) had declared 
 by subscribmg for £125,000 of Stock, which is thus 
 referred to ,n the Preamble of the Buffalo and Goderich 
 Act, which became law at the same time with the bill 
 which hmited by specific enactment the Grand Trunk 
 line extension to Toronto, viz : 
 
 rr ",-^j"i *»' »™ong ofters, the County Council of the 
 Umted Counties of Huron, Perth, and Bruce, have 
 resolved to empower the Warden thereof to subscribe for 
 Shares in the Stock of the said Comppnv ,„ *he am-unt 
 
 
u 
 
 of One Hundred and Twenty-live Thousand Pound, 
 
 and have adopted for publication, and have prinS 
 
 published and passed the requisite BV-Law." ^ ' 
 
 Nothing that we could say could express so forcibly 
 
 Grand tT"! "^ ''"* ""^ Government and the 
 G.and Trunk have outraged the great principle so 
 
 eompeunglme^, even .f they did not make equally plaif 
 that the &;«' of solemn engagements had been by them 
 altogether disregarded. ' 
 
 Evidence was taken by the Committee upon the grant 
 
 r tht^frtr"' '™" — > -^ -^^' 
 
 "The Honorable the Speaker examined : 
 Com&Lr,:;^Sr " --"- of the Railway 
 
 " asked by the Torontn Ij n T ^^^^' ^"^^^ ^« <^^at 
 
12 
 
 " be g"' "^^^ ^"^'^"'^ ^"^"P^"^ «^«"^d not 
 
 This resolution was reported to the House, and after a 
 debate, was negatived, certain members of the Govern- 
 ment, and now Directors of the Grand Trunk Railway 
 voting m favor of the extension to Sarnia. The 
 Act wa. accordingly passed, with a clause appended, 
 givmg the necessary power to construct the line from 
 «ueph to Sarnia, such authority being comprised in a 
 single clause at the end of the Bill, having no reference 
 to the Preamble or other parts of the Act. The 
 Government guarantee was however refused to this 
 Ime which, it will be recollected, the Act of 1851 
 declared should only apply to portions of the Trunk line 
 which this was not; the Legislature thus distinctly assert- 
 ing their mtention that the line should not be a part of 
 the Grand Trunk and it is here necessary to stete that 
 he Great Western Board, feeling alanned at the 
 threatened introduction of competition into the country 
 sent a deputation to Quebec to oppose the Guelph and 
 Sarnm hne, and that at that time one of the Director 
 of his Company was distinctly assured by Mr. Jackson, 
 hat 1 never had been and never would be entertained 
 to include the Toronto, Guelph, and Sarnia line as a paifc 
 of the Mam Trunk. The fulfilment of this pledge will 
 be found in the fact that in the Grand Trunk Prospectus, 
 this road IS recognized as a part of the Grand Tiunk, while 
 It turns out thatMessrs. Gait, Holton & McPheiBon, whose 
 persistance in an independent course in regard to the road 
 trom Montreal west wnnlrl \i^^rc. t,^^^ ^„x_i x. •», 
 
@ 
 
 18 
 
 Jaclson & Co'8 coJossai contract, are fmmH . v v 
 awarded the contract for n,ak mX ° ^"^ "«» 
 
 tbe new project, to wit, tl^stl tir^ T^ °' 
 
 Samia line-a Una which runnrtlfri' ^^^ ""' 
 wilderness and wanting ^ T2>t ^ * comparative 
 
 local Municipalities rw it theT'^t" "' '"« 
 Province, could not have d Z ^'^"'^ of the 
 
 a-istance^f Mo^; CkL 7^""?^^ T"' '""' '"-^ 
 e^Jtraordinary Parliamenw„ ^ '"' '"='"'7 "''*«« 
 
 passingor an'A:i:zttSri:tr- '' *' 
 
 .ubsequently amended in the sLe Session tth"" ""." 
 amalgamation with the Grand wT ?•""""«"" 
 intorecct it-thns mm,i« / "^ ^^^ '""«» which 
 
 Toronto an^SaS "if •'™.''«™''«» "'•«■ *« 
 
 6-t Western Tcwtthr™"^ '"'^P"™*'' 
 act of the same Legid^:^ "^""^ ''»"^<' ^J 'Pacific 
 
 Bofr;?e:2:;r„redtrtth?^''T.'''^ ^^^^^ ^-"o™ 
 faithfully ani.hon:fa*;':d;^r.hr''''''''""°'''' 
 
 Wing anything to do with t^o , t ^"""^ "'^ ""« 
 »<• feeling sele -^^ tinrt^^^rofrj'"^ 
 
 -^iirtvrmr-"^--"^^^^^ 
 
 4etr\r4ni-.;^e «^. Trunk 
 
 ittocontaintheSaJ^r-l-''^" ""'^ ^o-"' 
 but as the Wester^ C >T '""• ■"" »» a feeder, 
 
 andthee™tlr™t.°. --'''' ''"'" '^™"'' "-= 
 
 0^ Hallway u.^ertak.,rCanXr^^^^^^^^^ 
 

 
 14 
 
 Z^\ t!" iTf; '^"^ *^^ ^- -^0. access and 
 fb7"l "'' ^'^ *''r '^*' ^"^««h Capitalists to 
 
 y '^Hft,. a no8t Ignored. Nof is the answer of 
 ^y,^at no Le,..lative or other oftort .an rende the 
 Oriil Western Stock other than the h..t ! 7 ! 
 ♦nvc«f^ f • xi. T^ . "^''^ 8... unty and 
 
 t» «t„,c, ,„ the Prov«„ any excuse for such a .roM 
 uutrage upon tliis Company. ^ 
 
 The f„g,,.t of the Great Western , ,ar<l was much 
 enhanced by adding the Direction of the OraldTTuni 
 mamly composed of the member of the ve^ Gove ", 
 ment whose acts from time to time have Teen hi 
 pomted out, as securing to the Great We..e,; as 'Z 
 pubhc -mprovement the privilege conferred upon it 
 Parhamont, and in whose faith as well as friendsWp 
 they had reposed unlimited confidence """O'"'? 
 
 Company, todwell at any length upon the extraordinary 
 -d unprecedented position occupied by members oZ 
 
 gITS R 7'"^ "'r' """ "^'^« Direction:f tt 
 the poli!v of ,h P ''^~""" "^"""^ "" ''•""tiflcation of 
 the policy of the Government with that of the Railway 
 
 and placmg the former in the anomalous positaof 
 havmg, as heads of the various Departments Jthe 
 
 neas of proceedmgs, which they themselves direct as 
 Managers of the Railway. This position howeve I 
 
 hat:! ,:"" f'™""'™^^' '■■°» «■' '-'"■"''He; 
 have plac*-. themselves, as Directors of the Grand Trunk 
 
 RaUway, m hostility to the Great Western Company and 
 
 are herofore very peculiarly placed, as g„,.diaL „' the 
 
 pubhc mterests, m viewing questions which are arising 
 
 
 ti» 
 
i 
 
 15 
 
 between the two Corapaniea. But as Great Western 
 Directors, wo havo a i .^rht stroogly to doflounce the pro- 
 ceeding of introducing the Toronto and Port Sarnia line 
 into the Grand Trunk Hcheme, as a breach of faith to- 
 wards this Corapany-a repudiation by the Oovemment 
 of the Acts of the Legislature, which they, m the Ex- 
 ecutive of the Province, were bound to carry out ; and as 
 the introduction into the country of that wild and reck- 
 less system of competition which has produced such dis- 
 astrous results elsewhere, and which, if persisted in, will 
 deprive the Province of ite fair prospects of getting Eng- 
 lus.i assistance to any really sound enterprise amongst us. 
 It IS only due to themselves to state, that the Directors 
 of the Great Western Company took every necessary step 
 to carry out the spirit of the arrangement, concluded by 
 the English Shareholders, upon the appearance in Eng- 
 land of the Grand Trunk prospectus, and that they regret 
 having to report, that when, after some trouble, they ob- 
 tained an irterview with the Grand Trunk Board upon 
 the subject, they were informed that the arrangement in 
 question had never been under the consideration of the 
 Grand Trunk Direction; and the tone adopted by the lat- 
 ter practically amounts to an entire repudiation of the 
 whole arrangement. 
 
 Not only do the Grand Trunk Board seek pretexts to 
 break up the London arrangements, made on their behau' 
 by their Directors, Messrs. Glyn and Baring, with the 
 assistance of the President of the Company, the Honble 
 /o iu Ross, Attorney General of the Province, who wa« 
 
 m England in Anril. (hv wh\oh *.rro««p * *i.. i._.--. i 
 
 Of the Great Western hoped at least to .top at its 
 
16 
 
 « -«" - the credit 7thf p"-""/^ *» «■« Comply 
 '^"■Pting by even.p '-bt ^*^'>'''»«.) but they afe I' 
 
 Cor™"" ^'- «-" o tZI'"'*^ « *- 
 
 «» Ham,/ton and L„„d J """° """g^ have been heU 
 proceedings. The fi«t ll f '" '^''"'^ ^"7 ™ch 
 
 Hampton, and at which the fo,;^^" °' "" C'">»^ o 
 I"^d by acclamation. '""'"S^ R^»J"tions were 
 
 «o„ten,Xtt"&^n.^^f>'.ftatl::Cr"''"'?<' 
 ^f P^e, to e/d avor «°ir »'' °«>"? dl T '? 
 
 J^.'-r Company i„er,i':*;* the Great*;^^eattf 
 "And whereas any sup), „ , " ^'""f' scheme. 
 
 over a more uorS ItV? ""^ «^»' and ^tTf ""' 
 »d .traffic r™ AThe^'sr,^f '''^ "ore^ srhT'W 
 
 '.»a^air,^/ti^-S.J^e^^^^^^^^^^^^^ 
 ' KesoJved— Tiaf m *i, . °® ^^ therefore 
 
*t^*s Company, 
 )ut they are at- 
 ^}^g a threat to 
 w, to force tills 
 rreat an extent 
 ^ave been held 
 inst anjr such 
 ^y respectable, 
 ^ Citizens of 
 'oiutions were 
 
 from various 
 3n connected 
 iiires are in 
 
 ^^^'^g tLdt 
 *t Western 
 3me. 
 
 [^ot fail to 
 'the Great 
 ^ai'ger and 
 under the 
 force the 
 est of us, 
 onvenient 
 'ch travel 
 ^"'e, thus 
 of Lake 
 rightful 
 
 Jng, the 
 n RaiJ- 
 of this 
 
 Grand || 
 
 17 
 
 rlf w ''J ^^^ ^Pi/?'on of this meeting, the route of the 
 Great Western Railroad is so far superior to any other 
 projected m Canada, that its prospects can only be injured 
 by amalgamation with any other line. 
 
 loI^^^V^'' '^''''"^.' "^^'^^ ^■'''^^^^"g '•ai^^ay monopoly, 
 looks with much satisfaction upon the recorded opinions 
 of so eminent an authority as Mr. Robert Stephenson, in 
 deprecating the evils of railway competition, ^and ?rusU 
 hat he may be enabled to advise the adoption of a policy 
 in legard to the competition now threatened by the carrv- 
 iDg of the Grand Trunk line from Guelph to Sarnil 
 which runs the whole way parallel to the previous^ 
 
 dttlnl t?''''f ^''''''' ^^""^^' ^^ ^ ^'^y «hort average 
 distance therefrom, instead of running North West to 
 
 Saugeen and Owen Sound, a magnificent line of commu' 
 nication still unoccupied, and which would compleSa 
 Railway system for Canada West, such as Mr. St^eu 
 son has foreshadowed, while not interfering with any 
 existing or chartered line of Railway" ^ 
 
 At London also, the following Resolution was passed, 
 the leading men of the Town supporting it, and speaking 
 strongly as to the injurious effect upon Western Canada 
 of absorbing the Great Western Railway into its large 
 and already overgrown competitor. 
 
 Resolved--" That the extension of the Grand Trunk 
 frorn Guelph to Port Sarnia will, in the opS of tht 
 
 and thft thV?' '"f ^" ^'^ "^^^ -^ unnSary lin 
 and that the true interests of both the Grand Trunk 3 
 
 Great Western Railway Companies, and of Western 
 
 Canada, would be best served by avoiding that snecTlS 
 
 competition so much deprecated\y MrslXTonT ^ 
 
 n.."T '""7 " " ""^ ""™ made to accomplish 
 the absorption of the Great Western EaUway into the 
 
I ' 
 
 18 
 
 Grand Trunk scieme-efforf. v. 
 
 havecompelledthepresel ' , '™'"°™ ^<i Agents « 
 *.^ «-t l^estere « 7'^^'° '\^ Sha,.eU„,r?, 
 ft« country by ft. Grand t' '''"' '"'^"'PW in 
 'i^ng a^ertionsandfoud fh .''^''''*^''^ Med; the 
 ^«- Med in ah Jng ^IJ' ''^ ''-O ^^^ 
 ^^tern Board in the po, Won Xtr "' '"^ «'•«'" 
 -■«>e attempeed cajoiery ofThe Ca„ . '^„''^^^ '^"'"ecl 
 ''ho know the fact, and the I , v '''*" ^iareholdere * 
 «<! the voice of the countr^f ''^ ''T "^ »° ^«^t, 
 the proceedings which arebl "^"y ^-demning 
 'ie 'ndependence of tC^'t'"^"^ ^ '» <Je»t«>y 
 «">t.nue, and finding that all TT^' ««" the effort 
 -^ured onunquestiof^b™;"; » '" '^"^d. we are now 
 
 ^'^-Shl^ir^^ii-.hepre^ent 
 
 he entertained by the G a j ^'T"""' unde^to J^ 
 he able to influence, (if "r""! '"^^' *« ">ey wiH 
 
 — _____ ®^''' """ eonnected with 
 
 * mi ' ■ -— 
 
 presant immediately 
 
wible fn everr 
 and Agents,* 
 iiarelioldera of 
 attempted in 
 ^s failed; the 
 '••and Trunk 
 the Great 
 ave assumed 
 arehoJders,* 
 ^d no effect, 
 condemning 
 to destroy 
 t^e efforts 
 'eare now 
 and Trunk 
 ^^gamation 
 ^ on the 
 
 'e present 
 ided, and 
 the more 
 '•stood to 
 'iej wilj 
 'e of the 
 9d with 
 
 l^'denced 
 ' meeting 
 
 'uld take 
 9t those 
 tly the 
 diateljr 
 
 19 
 
 • ted HT ^"^""-^ '"P"'' which iB evidently calcula- 
 ted to damage our case so essentially, however mch we 
 
 Sw Trr ""' ^™«''^"- "■ °- «" '^ '» 
 
 canfTnH "V"" "°"*'«""^ -<• d-^'io" '» our 
 to"u»ttfy '' ''''"' '""""""^' °"^''' ™1"^^'i"^% 
 
 thifr'T ''°'°^'? °"' """ P"-^^-' P^'i'io" of "''tters in 
 
 h rr T "■" ';.t^ '* "' '° "« "^- d"'y to expose 
 
 a ET'^tt't'"™ *--'»i-dthe progres's of 
 
 now^r r ',*' °"'"'"'-^ °f *« ««^' Weste™ will 
 
 tto„?r; ™'''™'^''''^'^'■'*^»■i«d«F"<^entposi- 
 overt .^ ?f ""; "-"nstanees whatever to'listen to'any 
 over^turea of amalgat,o„ from the Grand Trunk Com 
 
 With this Report two maps are enclosed. No. 1 shews 
 
 ment From this ,t will be seen what a ^larin^ case of 
 compet,t,on the Toronto and Sarnia line StrodueeUnto 
 
 TsupTtt "" P'^"-"'"*"''' "» '"*"=« for«g» Capitalists 
 Er f n . ' °°'"'"" "" ""* Q'-''^' Western, the 
 
 onl^ropIZf -"--'"«'"- — , to carry 
 
 le lines of Railway in 
 extremities of the Great 
 
 seen 
 the 
 
 ln\jr» 
 
ill I 
 
 20 
 
 and most ftcile conneotmn I ? '™ ""^ *''»'•'«" 
 
 TOO through t..e, Xc The : t: t '™ ^^*- 
 from the Great Western lmX]l '"'^ '» »<» 
 
 *=9"ai„ted with the vast tw! ??'""''""'• "'"'°«''»' 
 »«»ntl^ flowing betwentE,?^"''"'^' *'"•* « 'on- 
 America, can fo™ a"; ea ^r"' '^"'"" "'^'-"^ 
 "h.chwillbecarriedalongtiri xt'""""' "^ ''"^'"^»» 
 i-^ placed that part of cl„ ?! ^^'^''^"' '''"''• Mature 
 ^«'er„ i„ such a posft „„ r;'' 'T"'"" ^^ «■" «'-eat 
 of time and distance til! ,7^" ""« "»^' '" P»»' 
 -"'« which can a^ :: r'f "''«""'°-^o'W 
 ""empt to force that trnvei bv a '""' "•^^^'- ^-^ 
 .""-h would be tried T tht GrTnT T^'T """^ 
 m securing the Great Western Fin! ^7"^ ""^'^' 
 »tire loss to Canada and •! p,^ ™"" «sult in the 
 of trafac which ha! bTenl t ™^' °^""" ''^^ «<!« 
 
 continent, make the Great vZ! fi "^ ""' "" «"'» 
 on 'his side of the Atknfe '" *' ^' P^^'-'S '^ock 
 
 I^ook at its feeders Dn +1, 
 Central lines, whicThave STo" ' '"^ ""'^ ^"^ 
 doubled their capital w' hou V"' ""^ *"'^»<i, 
 their shareholder! a d wt ! ^t"^ '"^ """^ "PO" 
 ing at the rate rf 25 '?; ^ffl" wh^h ia increas. 
 fair even now topav 10 f f"' '"'°''™' ^ding 
 
 On the othe^fiZ r T"'m°".-"^'°""^''-P"«' 
 Southern Hues, the fet'f '?, ^"''"='" Central and 
 from 10 tou per el aid P"'' dividends of 
 
 1^00 mile, of BaCa lr:>:^„r.°°"»"« "ith about 
 
 " ""« ™™ugu the most flour- 
 
21 
 
 connection, 
 le shortest 
 3 sjstoms. 
 7 to and 
 10 one not 
 i is con- 
 1 States of 
 ' business 
 e. Nature 
 be Great 
 in point 
 ny other 
 '• Any 
 ^ route, 
 succeeds 
 t in the 
 ast tide 
 ^il], in 
 )n this 
 y stock 
 
 York 
 idend, 
 
 upon 
 creas- 
 iding 
 pital. 
 
 and 
 s of 
 bout 
 our- 
 
 ishing districis of the vast and teeming West, the travel of 
 which will be drawn to Detroit and thence to the Great 
 Western. 
 
 Again the local business on the Great Western line will 
 be of such an extent as to present results, which hardly 
 any expectations which we might feel justified in holding 
 out, would at all approacli. The position of Hamilton, at 
 the head of navigation, will make it unquestionably the 
 point of shipment to the ports on Lake Ontario and the 
 St. Lawrence, for the whole of the extensive district West 
 of it. 
 
 On the whole, the Directors must express their strong 
 and decided opjnion, founded on extensive local know- 
 ledge and many years familiar acquaintance with the 
 districts and traffic which are so soon to be served by the 
 Great Western, that nothing but amalgamation with the 
 Grand Trunk line can do us any vital injury. 
 
 The Great Western line will, it is confidently expect- 
 ed, be in operation from Niagara Falls to Hamilton on 
 the 1st of November; it will be extended to London by 
 the beginning of the following month, and by the Ist of 
 January 1854, will be opened for its entire length. Its 
 prospects are then about to be realized, and the Directors 
 cannot beheve that the shareholders will be so blind to 
 their own interests, as to listen to any suggestion for 
 merging those prospects intoagigantic scheme, for which 
 a spade has hardly been put into the ground West of 
 Montreal. 
 
 The Directors of the Great Western will now proceed 
 briefly to indicate the policy which it seems to them 
 should be followed at this juncture, a policy which in 
 
|j!i 
 
 22 
 
 *^eir opinion wiJI t. ^ 
 
 ^^eat Western R,"^ ^" ^"^^^^r the stah.T. 
 
 * '^^erence to Afii^ at 
 
 '« -»" Sr '7 .TV colt * r2f '-"^ 
 
 "'* 'he mainr ''^P"'*'i'« Southern Ml ''''™'='' 
 to Port * T '■""-'"'•ne diveJn .^''«''"J^»«.) 
 
 thro^ ^"'"^ ^ I-ote Erie If ^ : ^°"^»« South 
 
 P^rfiameml': T"^ '"^^"'in the" *' ''«*^ « 
 out the B° f ""> ««-er„„e„t w Pr^'' P™"<ied 
 ""« Pnncple upon which thev . I '"'°'" »-d «>nT 
 ^« adoption of th;, . ^ " '"««<'• 
 
 tiM system wouM ^c . . 
 
 ""- "' aecMsitv 
 
'ty of the 
 5afe invest- 
 'ch better 
 generally, 
 ^0 Grand 
 
 of lateral 
 outh into 
 't branch 
 inline,) 
 ^ South 
 Awards, 
 Canada, 
 ^ Lake 
 dpass- 
 weJJ — 
 
 estem 
 ntford 
 ng to 
 igri- 
 mica- 
 orth; 
 I im- 
 urge 
 
 ter- 
 
 in 
 
 ied 
 
 rrjr 
 
 ■d 
 
 23 
 
 mvolve the abandonment of lines of Railway which 
 bave been agitated merely for the purpose of creatW n 
 this country competition, and would necessitatl tb« 
 
 andLnfhoTh ' rwoS?,'"'T"°g. '^ -« ™th 
 tin? the Grand Trnnl T '""'? ""= «*<^' °f tonefit- 
 co6>ratio„ ofthi ComulvP'™"""',* ^" '' *« hearty 
 to legitimate te 3^1 Tr\''"« "« "'* "'' «' 
 portion of the (rre™ tmvrf l'^'"' J" P''°P'='- P''"- 
 Great WestemTne at it . f ^ ""'' ^" "" '» ">« 
 
 save the Gra° i'"Ck ' n^eSsirj?''Ct ''™''' 
 unremunerative line nf i -to .f ^^*3^ ^t working an 
 
 under -y dreu'.stanetZrtdef L^'e^ '^'"• 
 
 of PontritoTwWt'g:' vt'lrv' /"""/' 
 th«r wort, are naturally J^Z ^'L^^'iS'f-/:' 
 ^^ as possible. ' ' ° laucn oi it to 
 
d4 
 
 All that has here been stated are facts, and facta alone. 
 The Directors have the greatest confidence in submitting 
 the case to the Shareholders, feelingassured that they will 
 always be supported in honestly and faithfully endeavour- 
 ing to guard the interests of those who have done them 
 the honor to appoint them to control and guard this great 
 
 enterprise. 
 
 They would at the same time take this opportunity of 
 stating, that nothing would give them greater pleasure 
 than to have the English Shareholders send out two or 
 three of the best and most impartial men that could be 
 selected, to enquire into the present position and policy 
 of this Company, to inform themselves thoroughly as to 
 the facts herein detailed, and to examine into the prospects 
 of this Company's fulfilling the expectations which we 
 now hold out. To such a commission fairly and impar- 
 tially selected, the Board would be most happy aiid ready 
 to afford every possible assistance and information. The 
 Great Western has truth and justice on its side, and only 
 needs that truth to be analyzed and investigated to place 
 the Company in the position which it ought to occupy; 
 and the Board are satisfied that no other effect can follow 
 the strictest investigation into the Great Western, its posi- 
 tion and prospects, than to place it more firmly and 
 securely in the public favor. 
 
 C. J. BRYDGES, Vice-President. 
 G. S. TIFFANY, Director. 
 W. P. McLAREN, 
 R. JUSON, 
 H. McKINSTRY, 
 ISAAC BUCHANAN, 
 *E. ADAMS, Mayor of London. 
 *W. NILES, Warden of Middlesex. 
 *D. MATHIESON, Warden of Oxford. 
 *W. G. KERR, Mayor of Hamilton. 
 
 u 
 
 * Es-OEttCio DlreciGrSj 
 
 »/%i>t*aonnf 
 
 ina «1<2A.OOO of Muaicioal Stock. 
 
 N. B.— The Maps referred to not being finished by the LithographerB, 
 will be sent by the next mail. 
 
;ts alone. 
 Emitting 
 ihey will 
 leavour- 
 ne them 
 his great 
 
 tunity of 
 pleasure 
 it two or 
 jould be 
 d policy 
 ily as to 
 prospects 
 rhicli we 
 d impar- 
 M ready 
 .n. The 
 and only 
 to place 
 occupy ; 
 m follow 
 , its posi- 
 •mly and 
 
 X. 
 
 xford. 
 )n. 
 
 ock. 
 hographers,