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^^m

Private and Confidential.]

GRAND TRUNK RAILWAY

c A^ ]sr A^ r> A^

CORRESPONDENCE

Between Mr. William Pare, and Members of the
Provincial Government of Canada.

GRAND TRUNK RAILWAY COMPANY OP

CANADA.

CORRESPONDENCE

Between iMr. William Pare, and Members of the
Provincial Government of Canada.

[Copy.]

Dear Sir, —

[No. 1.]

Grand Trunk.

Russell's Hotel,

16th April, 1861.

T shall be obliged if you can inform me on the following
matters : —

Have the Government yet finally resolved whether or not to
introduce the Bill, they proposed some weeks ago l

Have you looked at Mr. Benjamin's Bill ; and do you not think it will
require a proviso reserving any rights acquired under Grand Trunk,
or other Acts, since the Bill would probably coerce a Court in giving
an interpretation to the word "Railway" wherever it may now
stand, pure and simple ?

Can you say whether the Chicago, Detroit and Port Huron line
leased by Grand Trunk is worked by hired Engines and other rolling
Stock, and if so from whom hired.

Yours faithfully,

„ , , ^ „ (Signed,) WILL : TARE.

Honorable John Ross,

tNcc, A:c., &CC.

[Copy.]

[No. 2.]

Legislative Council,

Grand Trunk.

IGth April, 1861.

Dear Sir, —

It is very douhtful what course the Government will pursue
but if a Bill be agreed upon, I shall be happy to give you the earliest,
information of the decision to which we come.

I have read the 4th clause of Mr. Benjamin's Bill, and shall get it
struck out when it comes to our House, or else, shall alter its terms
so as to avoid what you apprehend.

In reply to your last question I may state that the line is worked
partly by hired stock , and partly by its own. The hired stock is
obtained from the CJuincy line.

William Pare, Esquire,

Russell's Hotel.

Yours sincerely,

(Signed,) JNO. ROSS.

[Copy.]

[No. 3.]

Russell's Hotel,

Quebec, 17th April, 1861.

Grand Trunk.
Dear Sir, —

I thank you for your note of last evening. Since it was
received, however, I find that one of your colleagues, the Hon. Mr.
Cartier, yesterday introduced a Bill on the subject of Receivers of
Railways generally, when diiliculties are felt by the Government
in the transmission of the Mails ; and as in the present exceptional,
not to say alarming condition of the Grand Trunk, it may become
the first fruits of this Bill, it becomes my duty to ascertain what
are the flicts, and I shall be obliged if you will kindly send me a copy
at the earliest moment.

I have been patiently waiting since my arrival here, to see the
kind of measure, if any, which might be submitted to the Legislature,
to relieve the Grand Trunk from its present very critical position. I
know that great expectations were formed on the other side by the
framers of the Petition to Parliament, that the Government and the
Legislature would not let this Session pass without some relief in the
premises. The Petition was, however, allowed to pass unnoticed,
and yourself and two other members of the Government informed
me, that they could not if they would extend any further pecuniary
aid to the Company. Still, f Avas told that a IJill intentled to allect
the llailway in certain contingencies, was in preparation, and as I
M\as kindly promised an early coi)y of that Bill, I thought it respectful
and proper to wait and see its contents, before any measure was
suggested by me on the p;irt of the Preference Eondholders whom 1
represent.

As, however, your note of last evening informs me, that" it is very
doidjtful what course the Government will pursue "—as the Session,
intended not to be a long one, is already far advanced ; and as Grand
Trunk afiairs are daily becominir financially worse, and more com-
plicated, and there is real danger of a stoppage of the road— it
becomes a duty, t\w. pertbrniinu'e of which J feel I can no longer
delay, to sulnnit to the Government a Bill, the great leading features
of which are : —

1. To preserve the property intact, by the appointment of a Pve-

ceiV(M-, pending the settlement of legal rights and priorities,
which are in no way iiilerlered with by the Bill.

2. To giv(! enabling powt rs to raise, with consent oC j)resent

Preter<nice Bondholdirs, a f/av Prelerenti:ii Capital to [uiy the
Judgment Creditors— if Mie Courts shall decide that tlicy have
a first lien over any p;irt of the property— instead of allowing
the property to be seized and sold, and the line to bo stopped.

3. To give enabliiio- po\v(Ts, lijso, to raise a further sum ms new

Preferential Cii])ital — with consent as above — properly to cipiip
the road, and give enlarged lacilities for its development,
under the pr(\sent management, wliich the Bill does not pro-
pose to interfere with.

You will see that by this measure, if adopted, the Preference
Bondholders would be making a concession, which, I believe, they
need not do, if they were disposed to press their extreme rights,
regardless of those behind them ; or were content to wait and let
things drift as they may. Those whom I represent have, however,
no such selfish policy. They are desirous of seeing a course adopted,
which shall benefit all interests, and hence I venture to submit,
without prejudice, according to instructions, the heads of a measure,
which I am prepared to explain in detail. May I ask, therefore, that
you Avill kindly lay this letter before your colleagues in the Govern-
ment, and let me hear from you thereon ?

I am, dear Sir,

Your's faithfully,

(Signed,) WILL: PARE.
lion. John Ross,

President of the Executive Council,
<Scc., &c., Sec.

[C,

Dear Sir,-

[No. 4.]

Executive Council Chamber,

Quebec, 18th April, 1861.

Although Mr. Carticr gave notice of a General Bill in the
House of Assembly, on Tuesday, which will if fully completed and
submitted to the House, eml)raco clauses affecting the Grand Trunk
and all other Railways which Jiavc received Govcinment aid, I am
still apprehensive that no measure will bo proceeded with this session,
and I give you this opinion solely upon the slow progress of business
since the House met. Members on both sides seems anxious to
occupy the time in making speeches to their constituents to help
them in the coming elections. If you will call upon me on Mon-
day, at eleven o'clock A. M. (11), here, I shall be happy to see you
and will be able to give you perhaps further information.

If you desire it, I shall be glad to get Mr. Cartier to give you an
interview at the same time, but I must tell you Irankly that you can-
not get the Government to agree to carry a measure for the Grand
Trunk 'per se in any shape, although I think your proposition a very
fair one.

Your sincerely,

William Pare, Esquire,

Russell o Hotel.

(Signed,) JOHN ROSS.

[Copy.]
Dear Sir,-

[No. 0.]

Russell's Hotel,

Ciuebec, ISlh April, 1S61.

I am in receipt of your letter of this morning, and will wait
upon you atll A. M., on Monday next, at the Executive Coun-
cil Chamber. I shall be glad too, that you will kindly secure Mr.
Cartier's presence, if possible, for notwithstanding what you say in
your letter, and which has startled me not a little, that I " cannot get
the Government to agree to carry a measure for the Grand Trunk per
se in any shape,'''' I should ill discharge the very onerous and — seing
the largeness of the interests at stake — I may say solemn duty imposed
upon me, if I did not use all the powers I possess to induce the Govern-
meni to reconsider a determination, which, if adhered to, will in all
probability be attended by the most disastrous efK-cts on all parties
interested in Grand Trunk property, thongli chiefly to those whose
interests I am not here specially to protect. And I venture to add with
all the force consistent with the respect due to those of whom I speak,
that persistence in such a course will be fouml not to reflect credit on
the Government itself. For how stand the facts !

1. Tlie Grand Trunk Company is admittedly insolvent.

2. It has tried in vain to obtain pecuniary aid from the Province

by memorial to the Government, and Petition to Parliament.

3. The Government has repeatedly declaretl its inability, if even it

had the will, to make further advances.

4. Messrs. Baring & Glyn have obtained judgineiit for an unusually

large sum : one of the Contractors has commenced proceedings
for overdue Bills of Exchange to a large amount: and the
Preference Bondholders are before the Courts to assert their
rights and priorities. From the ])roceedings of these several
parties the integrity of the property is menaced ; but should
they forbear for the moment to press their claims to the utmost
limit of their legal rights, there are still ; —

5. Numerous simple contract creditors who will immediately com-

mence suits against the Compiiny, when they find this session
pass over without an attem])t on the })aTt of any to come to the
rescue ; and who will unquestionably seize and sell the pro-
perty.

6. The non-payment of the rent and interest due in resjiect of the

lease of the Atlantic and St. Lawrence Company exposing this
part of the property, with all its improvements and equipment,
to be taken possession of at any hour, without notice, and the
lease to be forfeited.

7. Whilst the concern is thus threatened from without, its vitality

is endangered from within, and it may any day come to a stand
from sheer inanition. The very wages of labuur run into arrear,
a laxity of discipline is thereby induced, threatening a complete
disorganization of the staff; whilst from these causes and the bad
material condition of the road, the tralfic is carried on at an
enormous risk to life and jiroperty.

In this condition of affairs I approach the Government on behalf of
those I represent, belonging to the class who have the first lien upon
the proj)erty, simply asking tliatthe })arties interested shall be placed
by the Legislature in a condition to to luelp tkejiti^elves first to save their
property, next to improve it. And not for themselves only (who live
thousands of miles away and to whom the railway as a means of tran-
sit is of no use) but for the Province and the Government, to whom

I .

jven it

isually

:)dings

i\ th e

; their

overal

should

utmost

y corn-
session
! to the
16 pro-
of the
ng this
ipment,
nd the

vitality
a stand
arreaTj
tmplete
Ithe bad
at an

it is almost a matter of life and death that the road shall he kept con-
tinuously open. I am tempted to dw(^ll "t some length on the ex-
ceeding iuiportance of this, at tlic present juncture, when owing to
the rupture in the neighbonring states, traflic is seeking new chiumels,
which if well cared for nuiy become ])ermanent. I must rcfriiin,
however, from a topic so wide ; tuul I am sure I need not remind
you that " there is a tide in the alluirs" of nations as of men.

You, Sir, have stamped^ the measure T propose with your approba-
tion : — You say, Y'ou think it " is a very fair one.'' And so it is.
The Preference Bondholders, whom I re[)resent, are fully aware that
the concern for all behind them at least, is, as at present, Wi^rthless.
iiut they arc Englishmen, and scorn to seek a purely sellish advantage.
In a common danger they have a voice for others as well as i'or them-
selves. Ifthe measure they jiroposo bo ado|.t<(l they mtike a ]»resent
concession, and at the same time shew their faith in tlie future fortunes
of the concern under good management. And I cannot l)ring myself
to believe that the government will undc-take the resjionsibiJity —
heavy, as it seems to me — of declining V^ give all the aid whicli in
them lies to achieve this good.

T conclude by submitting that the measure I ]U'opose Avill accom-
plish, in the case of tlie Grand Trunk, all that which is jirepesed by
the Bill of Mr. Cartier, whilst it will relieve the government of the
necessity of imdertaking the conduct of the great connnercial adven-
ture — a matter which would be viewed with great jealousy by a
people living under our free institutions ; and which could not fail
to lead to endless complications of one kind or other, and also t,o a
large outlay of the public funds, which as I understand is the very
thing of all others, which tho government and the Province wish — or
rather are resolved — in this matter studiouslv to avoid.

^halfof
bn upon.

placed
Ivc their
[ho live
|of tran-

whom

I am, dear sir.

Yours faithfully,

(Signed,) WILL: PAKE.

ITon. Jonx Ross,

President of the Executive Council,

[Copy.]

Hon. Georgf. E. Cartier,
&c., &c., &;c.

10
[No. 6.]

Pvussell's Hotel,

23rd April, 1861.

Dear Sir,-

Grand Trunk.

Referring to the interview accorded to me yesterday by your-
self and Mr. Ross, I beg to say, that I last evening forwarded as
promised to you and to Mr. Ross, a draft of the proposed Bill, the
heads of which I laid before you in the morning.

I have within the last fcAv days adressed two letters on this sub-
ject to Mr. Ross, as President of the Executive Council, and at the
risk of being thought importunate, I am about to supplement what I
have said to him Ijy these few lines to you, and which arise out of
our conversation yesterday.

I understood you to agree with Mr. Ross in the expression of opi-
nion which he had previously jnade, tbat the general features of the
measure I propounded were fair and reasonable, whilst the only ob-
jection — if indeed I am right in calling it an objection — you made, was
that the Act was, as to some parts, permissive onlv, and might not be
operated.

With great respect I submit that under the circumstances of this
case it is not a reason why the government should decline to lend
their aid to the passing of this Bill : —

1. Because the Grand Trunk Company is confessedly insolvent, unable

to carry on the traflic satisfactorily, and has declared through its
Directors the probability of its being stopped altogether.

2. Because it is in the highest degree important,— nay, positively

necessary for the welfare of the Province, and the proper dis-
charge of many of the functions of the government that the road
should be not only kept continuously open, but that the facilities
for the proper conduct of the trailic should be largely increased
and improved.

1861.

)y your-
rcled as
Jill, the

his sub-
1 at the
t what I
3e out of

11 of opi-
s of the
only ob-
ide,was
t not be

of this
to lend

f, unable
lough its

[isitively
per dis-
Lhe road
facilities
icrcased

3. Because the government has positively declared in answer to

Memorial to itself, and petition to the Legislature that it cannot
afford any substantial relief.

4. Because the Sharehok'ers and Bondholders, as a body, have de-

liberately chosen to rest their last appeal to the Canadian Par-
liament on the petition recently presented, the prayer of which
is that, "fully reserving all legal rights, such S2)ee(hj nnd effectual
relief may be alforded as in the wisdom of the Legislature may
be best adapted to the necessities and merits of the case, and may
be most consistent with the rights of all parties."

5. Because the Bill now^ submitted is : —

(A) the only measure prtt])0undecl by any party.

(B) proposed — thougli witlioul prejudice, and with the view of a
speedy solution of great difiieulties and dangers — by an im-
purlant section of the rreference Bondholders — lirst mort-
gagees of the entire pro[)orty — now before the Courts for
the enforcement of their claims.

(C) conforms entirely to the jn-ayer of the Petitioners with the
single exception of a (jiiality which it is in the powerof the
Government to command.

6. Because time is an clement of the highest consequence in pre-

serving the })ro| erty from waste and dilapidation, and in jjutting
this great euterprizo (in whieii the onward jjrogrcss of the Pro-
vince is so intimately boiuid uji) in a coiulitiou commensurate
with its importance ; and moreover time is the very essence of
the contract now sought to be mjule with parties whose interests
will inevitably be entirely wi|)ed out if not aceej)ted.,

7. Because under the Bill, if accepted and brought into o[)eration the

Jndg.nent Creditors and others having simple contract claims
will have fidler and mon- .speedy payment than, even if they
succeed in their su-.ts, they can have otherwise.

iMi

8. Because — it is respectfully submitted — the Government are under
a moral obligation of seizing this, probably the onli/, opportunity,
which will be afforded them of keeping alive the interests of
imsecurcd Eondand Shareholders, whose money was undoubtedly
obtained on faith of the statements put forward in the original
Prospectus backed by the names of two leading Capitalists in
England, who were therein held forth to the public as " Agents of
th.e Province nf Canada, and Directors of the Company on behalf of
the Canadian Government^

9. Because the Bill will, in the instance of the Grand Trunk, aflbrd

to the Government all the protection o'its interests, in keeping
open the road, the carriage of the Mails, «.Vc., which is proposed
by the Bill introduced by tlic Attorney General ; whilst it will
avoid the necessity of (iovernincnt interference, involving, if
not a large expenditure of the [lublic funds, numerous jealousies
and heart burnings, and complications of many kinds, proving it
is believed a source of weakness rather than strength to any
Administration.

10. Because all delay is fraught with ('anger, and by postponing
indefinitely all chance of relief to most of the classes interested,
will lead to irritation among all, and loss and ruin to many.

For these among other reasons I respectfully tirge upon the
GovernnKMit the adoi)ti(>n, — with any aherati<nis which may be agreed
upon, — of the meiisurc which 1 have laid before them ; and which,
from the iiot uaiavoniblc view you, Sir, have already taken of it, I
trust will ])(! the cuse.

At all events I must rcspectfidly ask fur an early determination,
as upon it will di'pcud other steps which, in obedience to my
instructions, it will he incumbent upon uu: to lake.

Believe nu', dear Sir,

V'otirs very tailhi'ully,

(Signed,) WILL. PARE.

re under
jrtunity,
erests of
Dubtedly
original
;alists in
igetits of
behalf of

ik, afford
keeping
proposed
1st it will
jiving, if
jealousies
proving it
:h to any

osl Ironing
terested,
lany.

ipon the
be av^rced
id which,
>n of it, I

mination,
c to my

[COPY.J

[No. 7.]

Russell's Hotel,

Quchec, 25 April, 1861.
Grand Trunk.
Dear Sir, —

If you can communicate to me by 12 o'clock to-morrow the
decision of the Government with respect to the measure I have laid
before it, I shall feel obliged.

If also it be determined to proceed with liie Bill of which you gave
notice on the 16tli instant, I shall be furtlier obliged if you will favor
me with an early copy, so us to give me an o[)portunity of noting its
provisions before it is laid before the Assembly.

Believe me, dear Sir,

Yours faithfully,

(Signed,) WILL: PARE.

Hon. George E. Cartier,

&c., &c., &;c.

.RE.

[No. 8.]
[Copy.]

Russell's Hotel,

Quebec, 27th April, 1861.
Dear Sir, —

As I am without a reply to my note of tlie 25th instant, I take
it for granted that the Government has not yet linally decided on a
measure in re Grand Trunk.

There are one or two additional clauses which it occurs to me may
be inserted in the Bill I have laid Ijcfurc you which will give it a
more practical shape, and which 1 shall l^e ready to submit to you if
desired.

I take this opportunity, too, of saying that it has occurred to mo
that although the Government may consent to aid the passage of the
Bill through Parliament, they may yet prefer that it should be under-
taken by some independent Memljcr.

I am, Dear Sir,

Yours faithfully,

(Signed,) WILL: PARE.

Hon. George E. Cartier,

&CCf &iQ.f &c.

BEkaOBBMH

rjli

if;

[No. 9.]
[Copy.]

My dear Sir, —

I will be happy to see you on Monday (29th) at 12 o'clock — if
it be convenient for you to call then at my office.

Yours very truly,

Saturday, 27 April, 1861.

W. Pare, Esq.,

Russell's Hotel.

(Signed,) GEO. ET. CARTIER.

[No. 10.]
[Copy.]

Russell's Hotel,

1st May, 1861.
Dear Sir,

I regret that all my efforts with the Government in re Grand
Trunk have proved, as you predicted, unavailing.

I have the satisfaction,liowever, ofreflocting that, on behalf of those
who sent me, I have done my duty, and that the onus of whatever
future disasters may befall the concern will rest with others.

May I ask that you will be kind enough to return, by bearer, if
possible, the Draft Bill, which I forwarded you, and so oblige.

Yours faithfully,

(Signed,) WILL: PARE.

Honorable John Ross,

&c., &C., Sec.

[No. IL]
[Copy.]

Executive Council Chamber,

Quebec, 1st May, 1861.
Dear Sir,

The Draft Bill which you so kindly sent mo is at my lodgings,

and I will try and recollect to send it to you this evening — although

I should be glad if you would leave it with me, as it may be of use

at somo ftiturc time.

Yours sincerely,

William Pare, Esq.

(Signed)

JNO. ROSS.

1, 1861.
'clock— if

TIER.

, 1861.
e Grand

of those
'■hatever

jarer, if
A.RE.

[Copy.] C^^' ^^1

Hussell's Hotel,
Dear Sir,— 1st May, 1861.

T 'Z 'T"'^' "^ ^'"' ""'^ ''' ^^"^h ^ thank you.

stood that it is not to be'tif:; L LT ,e\ ^^'^^ ""'^'■
principle on the part of those who have s„b Ju^^^^ '' ^"^

netted in good faith, though without ;"juer-^^^^^^^^ -^-

and now passes into history. ^^ ^^®" rejected,

I am, Dear Sir,

Yours fiithfully,
Hon. John Ross, ^^^^"'^'^ ^'^-L: i'ARE.

&c., &c., &c.

[CoPv.J C^^°- ^3.J

Executive Council Chamber,
Dear Sir,— Quebec, 1st May, 1861.

I sent to my lodgings for your Draff jiiu i • , r
herewith, and shall not need it nguin ^'^'-^h^ch I enclose

Yours sincerely.
William Pare, Esq, (^^Sned,) j^O. ROSS.

Russell's Hotel.

1861.

dgings,
though
} of use

3S.

[Copy.] ^^^' ^^-J

Rlssell's Hotel,
Hr - G. E. Cartier, '•'"■'"' '^^^' ^^^y> 1861.

,. ^ Grand Trunic.

Dear Sir,

vir

ference Bondliolders — laid before the Legislature ; although framed
with the especial view of preserving the property irom disruption
pending the settlement, by the ordinary tribunals, of legal rights and
priorities; and putting the Company in a position to raise fresh capital
for the exigencies of the line, without the necessity of applying to the
province for pecuniary aid ; and was submitted subject to any altera-
tions Avhicli might be suggested ; —

And as the Government have not vouchsafed to disclose the pro-
visions of the Bill of which you have given notice, but which is
intended to affect the Railway, and maybe prejudicial to the interests
of the Preference Bondholders, if not to other classes interested in the
property of the Railway, I am advised to serve you with the Notice
herewith.

Believe me, dear Sir, witli thanks for the courtesies you have at all

times shown me,

Yours faithfully,

(Signed,) WILL: I ARE.

[^Notice referred to in the letter No. 14.]
[Copy.]

Russell's Hotel,

Quebec, -ith May, 1861.
To the Hon. George E. Cautier,
Premier, &;c., &;c., &;c.

Sir,—

As Agent of the first Preferential Bondholders of the Grand

Trunk Railway, I beu,- lo give you notice that they are — in the event

of the management of the P^ailway by the Company not meeting

the Statutory requirements imposed upon the Company by any Act

of Parliament — prepared, as parties primarily interested in the

successful working of the Railway, to take the entire raana^oj^ent

and control of th • undertaking into their own hands ; and provMe

for the efiicicnt working of the road, and the prop.^r maintenance of

the Postal service, the conveyance of Her Majesty's troops, and all

traffic ; and in all rcrpecis for the due performance of all obligations

to the public.

(Signed,) WILL: PARE.

A duplicate of letter No. 14, together with notice as above, was,
mutatis mutandis forwarded to the Honorable John Ross, President of
the Executive Council, (|'C., ^-c.

h framed
isruption
gilts and
li capital
ng to the
y altera-

^he pro-
'"liich is
interests
d in the
; Notice

ve at all

\.RE.

r, 1861.

Grand
event
leeting
iiy Act
n the
orient
i^me
nee of
nd all
rations

, was,
ent of