. .. -^ 
 
 CIHM 
 
 Microfiche'' 
 Series 
 (iUlonograpl^) 
 
 ■ ■ " I 
 
 U; ■ 
 
 ICMH 
 
 Collection de 
 microfiches 
 (monographles> 
 
 L^ 
 
 Canadian Inttituta for Historical iMicroraproductions / Inatitut Canadian da mibroraproductionshistoriquas 
 
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 -■ '. ■ 
 
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 r" 
 
 ■ •■ . •• ■ 
 
 
 as ■■ 
 
 L 
 
 • ' 
 
 
 •■;'''■' ' .'■■'' 
 
 :.■■■-.. \ 1 
 
 
 
Ttchhieal and Bibtiodrapliic Notts / NotM «Mhni«|u«s at btbliofrapli^ua* 
 
 Tha Imtituta hat attamptad to obtain ^a batt original 
 copy avaitabia for filming. FaatMras of riiii copy which ^', 
 may ba WbliograplhicaHy uniqua, wtiich may altar any • 
 Of tha imaga* in tha raproduction, or WhiUt may 
 lignificantly changa tha aiualma t h p d of filming, art 
 chackad balow. 
 
 L'InstitUt a mterofilmi la maillaur axamplAira qu'il V 
 lui a M pouibla da ta procurar. Las details da cat 
 .aMamplaira qui tqnt paut-4tra uniqms du point da «ua 
 Wbliographiqua; qui pauVant modif iar una imaga 
 raproduita. ou qiii paUvant axigar urw modification 
 dans la m*thoda normala da f ilmagi sont indiquM 
 ci-dassous. ' »"»' .."'.'" 
 
 •■ C 
 
 □ 
 
 Colourad covars/ 
 Couvartura da coUlaur . 
 
 Covars damagad/ 
 Couvartura andommagia 
 
 □ Covars rastorad and/or lamiiiatad/ 
 Couvartura rastauria at/ou pallfcuMa 
 
 □ Colourad pagas/ 
 Pagat da coulaur 
 
 .0 
 
 Pagat damagad/ 
 Pagat aiuiommagAas 
 
 □ Pagat rafltV«d and/or laminatad/ 
 Pagas rastaur4as at/ou pallicultos 
 
 □ S 
 
 Covar titia missing/ 
 
 titra da couvartura manqua 
 
 i^ 
 
 Pagas discolourad.. stainad or fpiiad/ 
 
 Pagas dicolorM. tachatias ou piqu4as 
 
 □ Colourad maps/ - . 
 Cartas gtographiquas an coulaur 
 
 Pagas datachad/ 
 P^gas ditachias 
 
 quM 
 
 p~n Colourad ink (i.a. othar than Moa or biacli)/ 
 I I Encra da coulaur (i.a. autra quablaua ou noira) 
 
 □ Colourad platat and/or illustrations/ 
 Planchas at/ou illustrations an coulaur 
 
 Bound with othar rnatarial/ 
 Ralia avac d'autras documents' 
 
 Tight binding iriay causa shadows or distdrtion 
 along intarior margin/ 
 
 La raliura sarrte paut causar da J'om'tira ou de la 
 distorsion la long da lamarga ihtswiaura 
 
 Bfank laavas addad during rastoration may appaar 
 within .tha taxt. Whmtwt possible,, thasa hava- 
 baan omitted from filming/ 
 II ta peut qua ca'rtainas pagas blanches aioutlas 
 lors d'una rastauratipn apparaissant dians la texta. 
 malt, lortque cela itait possible.'' ces pages n'ont 
 pas eti f ilmtes. 
 
 Additional coniments:/ 
 Commentairet ^upplemantairet: 
 
 D 
 
 D 
 
 This item it filmed at the reduction ratio checked below/ 
 
 Ce di^ument ett f ilmi au taux de rMuction indiqu(6 ci-dettout. 
 
 HShowthrough/ 
 Trantparance 
 
 ■0 
 
 B 
 
 □ 
 
 Quality of print variat/ 
 Qualite intgale de rimprettlon 
 
 Conti|iuous pagination/ 
 Pagination continue 
 
 Inchidet index(et)/ 
 Comprend un (des) index 
 
 Title on header taken from:/ 
 
 Le titrederen-tCteprovient: 
 
 ■,'■■. . V ■ ■ . 
 
 Title ^ge of issue/ 
 
 Page da titre de la tivraisbn 
 
 I I Caption of issue/ 
 
 Titre de depart de la livraison 
 
 □ Miatthaad/ 
 Cenerique (periodiques) de la livraiton 
 
 m 
 
 
 lOX;" 
 
 X-. 
 
 
 
 ux 
 
 . ■* 
 
 
 
 18X 
 
 
 
 
 22X 
 
 
 
 
 26 X 
 
 * 
 
 
 
 ,30 X 
 
 
 
 
 
 
 
 
 
 
 
 
 
 * 
 
 
 3 
 
 
 
 
 
 i 
 
 
 
 
 
 
 #• 
 
 •». 
 
 iv 
 
 12X 
 
 
 
 
 16X 
 
 1 
 
 ;■■; ., 
 
 »■ * \ '■ 
 
 V.' 
 
 20X 
 
 
 
 
 24X 
 
 ■f. 
 
 
 ■ . i 
 
 28X 
 
 
 
 . . 
 
 32* 
 
Th« copy fllmid Hwrm has bf$mn raproducud thanks 
 to th« a«fi«roMty of : 
 
 ArchiVM 
 ToroiMo 
 
 of Ontario 
 
 Tho imofM appoafing haro ara tha boat quaiitv 
 poaalbto eonaidaring tha epAdition and lagibility 
 of tha original copy and in llcaaping with tha 
 filming contract spacificatidna^ 
 
 Original copiaa In priritad fjfpar epvara ara filmad 
 baglnning with tha front c^ar and anding on 
 ^ tha laat paga with a printa^C or illuatratad impraa- 
 •Ijon. or tho back covarwh^ appropriata. AH 
 Othar original eoploa ara fitiinad baglnning oh tha 
 firtt paga with a printad or illuatra'tad impraa- 
 •loh, and onding on tha ia4t pago with a printad 
 or illuatratad impraaaton. 
 
 tha laat racordad frama ori laach microficha 
 •hall contain tha symbol «f*»^ (moaning "CON- 
 TINUED"), or thasymbol ^ (moaning "END*'), 
 whichavaf appliaa. 
 
 y. ■■' • ■. ,,-;.■ 
 
 Mapa. plataa. charts, ate., may ba filmad, at 
 diffarant raductlon ratios. Thoaa too iarga to ba 
 antlraly ineludad in ona M^Maura ara filmad 
 baglnning in tha uppar iafti Hand comar. laft to 
 right and top to bottom, a^ many framaa aa ^ 
 raquirad. Tha following fHsjgrama illuatrata tha 
 ifiothod: •....-/, 
 
 L'oxampiaira filihi fut f aproduit griea i la 
 g4h4rosit« da: 
 
 • ArchivM of Ontario 
 Toronto ■ .^ '■ 
 
 Laa imagaa suivaqitaa ont 4t« raproduitaar avae la 
 pitia grand soln, oompta tanu da la condition at 
 da ia nattat* da I'axiampiaira fllmi, at an 
 
 conformity avaclas ^conditions du contrat da 
 filnipga.. • •• . ^./- ■.• 
 
 Laa axamplairas originaux dont la eouvartura an 
 paplar aat imprim4a sont filmte an commaivpaint 
 par la pramiar plat at •n tarminant solt par la 
 damlAra paga qui camporta una amprainta 
 d'Impraasioh ou 4:tHustratl.oh. soit pmr la aacond 
 plat, aalon la eaa. Touia |f» sutraa axamplairaa 
 originaux sont fllm^s an commanqant par la ' 
 pramlAro paga qui comporta una amprainta ° 
 dlmpraaaion ou dniluatration at an tarminant par 
 la damlAra paga qui comporta uno taila 
 amprainta. 
 
 U9 daa symbolaa sulvants apparaltra sur la 
 damlAra imaga da ehaqua microficha, salon la 
 caa: la symbols — ^ signifia "A SUIVftE". la 
 sydfibolo ▼ signifia "Fliy". 
 
 cartaa. planchas. tabiaaujk. ate, pauvant itra 
 flim4a i daa taux da rMuetion diff«rants. 
 Lorsqua la documant aat>trop grand pour itrV 
 raproduit an un saulcllchA, il aat film* « partir ^ 
 da I'angia supMaur gaucha. da gaucha A droita,' 
 at dP hauit m* baa. an pranant la nombra 
 dImagM n^caasaira. Laa diagrammas suivants 
 iUuatrant la mtftthodsi. 
 
 (^ 
 
 
 -»■ 
 
 6 
 
MKXOCOrv RBOUmON TBT CHART 
 
 . (ANSI and ISO TEST CHART No. 2) 
 
 •y 
 
 ^ APPLIED IIVMGE 
 
 1653 East Main Strtft 
 
 {•of^Mlw, Nmt rork 14609 USA 
 
 (716) 4B2- 0300* PhpTO 
 
 (716) 288 -5989- Fg« 
 

 "^^ _.,. 
 
 ONTARIO. 
 :^iqpK, AND HURON . ., 
 
 RAILROAD 
 
 COMPAN"r. 
 
 I GET LETTERS; 
 
 lattcra ill €oitttcction «)itl).tl)c ^ffaijra of ll)c 
 
 ^Boo« Com^aitii. 
 
 t ;V>^1 
 
 
 V ' 
 
 ■r 
 
 Obicinallv fgui-isuED in the " Tokonto Daily Patiu'ot.'' 
 
 > -f ■• ■ 
 
 13}) a 0i)atti)oUcr. 
 
 ■\ 
 
 TORONTO: 
 
 rRIjytED BY aEORGE E. illUMAS & UO. 
 
.A?. 
 
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 ■MRdMMese 
 

 INTRODUCTION. 
 
 " Tnc folW.nR lottor, tcm ori«lnnlly pul.r.Hhea In tW Toronto I>al 
 P.T^'oT ^hoy are cllectca, nn.l now ruLlUhcd in the pres^ fo - . 
 
 may hereafter l.ee..n.. . .^^^• of i«n."rt.«.tconM.krat.on ^Jl ct1«. or 
 
 • no^U.e letters are now witinn a eonMms.ufreuay.u.co.«^a^^^^ 
 within- the roach of parties who have any nal.nat.on to ft. o th. n. morO 
 
 . w!Sl.nsiaeratio:tl.a,th.pevU.alof .y^cwspapcr^^^^^^^ 
 
 Tha ciroumstanvcs which k<iv« "ho to theni are '' ^»'>''' *" ^'" 7;J; 
 
 parti««inthiseity. and to nu.t others who »7"f -'I 'l^^^ ^^ , ^^ 
 
 . Lhjeet of Ilailway enterprise ; an,l it >s to bo »' ^ ^ 1 Losen Cso 
 
 tlonof the occurrences ;ndproeecai,j^onuo.te.w.htl.ep^^^^^^^^^^ , 
 
 . lutvo any influence on the juaj^mc.J|u.c puhhc the «"'V^^'"«^ 
 
 «huilar farce will not ho pern.itted ii^^onceru m wh.ch the puWm ^ 
 
 fcnvo lin undoubted right of intorferonee. ^ , .„^»w;,.n« 
 
 n pcr-sinfi these letters consecutively, there w.ll bo found repet.t n, 
 
 • wl i^h uere unavoidable, in the detached f..n« in whuh hey <.r.Kmal ly - 
 
 - Ip^ed. For these, the reader will be prepared ; a,ul .« requested to 
 
 , make all ncccflsary allowance on that score. ,„«.!.- ♦ii« 
 
 The election of Directors by the Pn^prietor. had iK^en Ht^Tcdoff^^^^^^^^^^ 
 
 Old Board, as long as possible. The pre.ure f-- ^I^J'^*;;^ ^ 
 
 with the critical position in which both P.bectoks ;.nd Cohteactobs 
 
 Y "^ndZ^seWes placed. fn.m the discovery tha -^ -^^T 
 
 • „en£s done and made, heretofore, were illegal. ^^^^^^^'^^^'^^^J^IX. 
 hie. remkred an Amended Act necessary. ^n Amended Ac wnH 
 
 ohtlvined. and .KT.a m vx«..V.o. was '^M--'^ ^^-'l I^J"^ ^^ f 
 Board. By this Aiicd Act. " f-ach and AAY Ait. >«atte«, or 
 i»oar«i. J ■ 7, »OR TO BE DONK. nv sucii Dirwtoks and 
 TIIKHl ^t'CCK.S9W«S*'W, ixoamsed and made vai.id . . . 
 
 Such an enactl4i: n^f "" '^"""«-* = >\ T'" Z, "" , 
 nwn el«ci,l,tio/^mi4^^"lts v^iU ultiniafdy show then.sehes. 
 ^ Tu^"wrffiS.l)i-torsandOontnvct... 
 
 f;,^^e.1^ dilemma «ver^an;,in« them. For how long. x. me has yet 
 
 *";S^tBoardhadadviti.e.^.^^^^ 
 
 tion of Directors, the A.lU,wing letter wan addressed to tl^O bt^ckholdcrs, 
 
 wn aiW '*'' ^*^ : ' " ■'» Wi4JU w »i " W;lli-^J,-!J---!^-XS^- 
 
.; 
 
 / 
 
 with llifl view tft cniP»l?« t'l'^'"' nttcntlon in tlie nP<«cw5ty ftf actlnj? upon - 
 tho xpirit of tho K«».oluti«.n of « MflctinK of Fnipriotow, which liad 
 doclarod B want of confidence in the Board :— _■ ' 
 
 " Tn (he HMcn of Stack in the Ontario, Simrot, and Hnfon 
 
 JlailnHid. 
 
 " You rtto aware, by public wKcrtixpinent, that a nifletins of ntocV- 
 lioldcrM hiw iwon called by tho pn-Krnt l>iri«ct.»ri.. t«» l« hnid on tin 
 morrow. «t ilio office of tho C'onipnny, in Wt-|lin;?t<.n Street- near the 
 l»0Ht-4HBcc, at 12 4»'clock mmn, " to c[m»oiw eleven perKonii to !« j'lrwv 
 torn of the miid t'oinnany. to remain in office until the flnit Monday in, 
 the month of .lune, lHr)4." Thin notice han Iwen ri>HUod by the nrcm-nt 
 DiroctorM, under tha proviaionn ttf an amended Act, nvontly obtained by 
 them. ntmovinR doubt* which Ix-foro existed «»f the riRht i>f pr«priet«)r« 
 of Htock to elott. from time t<> time, th© I)ircct(»n< of the Ooropany, m 
 n.conlance with cBtablinhed uHttg«, and in conformity with the Act of 
 
 ln«orp«>rotion. i i * 
 
 "It in nocdloMH now trt enquire by what hncuB nocun, or under wliat 
 newly-invcntwl wicnco of mcHiiicriMm, thin amended Act has Itcen pro- 
 vurcd; but " w> // iV.'— to uoe the emphatic words of a certain tinm. 
 Voir are calh^d upon t«» exercise your privilcee <if attendiiiK the aaid 
 mecainR ; and.if vou choose, that of voting for Directors. Those on tho 
 i)rcscnt Board (or many t»f them) have long since ceased to hold tho 
 '•onfitlence of the proprietors, ijotwithstandinR what nwvy lie said to the 
 contrary ; and if anvthinj* were now wantinj; to convince the stock- 
 holders of the nei-essity 'of their removal, it is the fact that they have 
 He<biced the legislature, bv tho amended Act «>f tho Clmrtet, to alter 
 the principle of voting, os proHeril)cd in the original Act of Incorpora- 
 tion ; by which altcratiim a preponderating p«»wer »>f election is thrown 
 into the hands of the -contractors, in virtue of tho peculiar arrangement 
 of recRving, in payment for their outlay, the sto<!k of the Company; 
 whilst the interests of the city of Torohto, ond the county of Simcoo 
 may thus be rendered subservient to a majority of the votes which may 
 he given by them, should they be disposal to exercise that power which 
 tho Act, (however equivocal.) appears to give them. . 
 
 " These Contractors are now, and long have been engaged m obtain- 
 ing pro^fies from parties who hold stock, granted and issued to them and 
 in their names, in renuincration for land, work, &c. ; their object ha^ of 
 course been, to possess themselves of the power to elect such a Board ot 
 Direction as they may nominate. And olthough. such a nomination 
 could not by any possibility produce a Board of more objectionable 
 character than that which now exists ; yet, under all the circumstances 
 of the present state of affairs, which are very i peculiar, it wovld have . 
 been desirable that the original 8ubscribern,^»r;>rt«!k should hove had 
 their feelings and interests consulted in a ii)i>tter of so much importance 
 to tho public, previous to such movemenisos'; yiMe which hajre been 
 made by the Board. You are therefore earh«ft«lj^ if<K|uested to attend the 
 meeting on to-morrow, and exercise the privilege* given you by the A^ 
 of Incorporation, under which you became proprietors of stock \n tt^A 
 Company, notwithstanding any alteration or amendment thereof now > 
 
 " At present vmir interests are jeopardised or made sMbservient^to 
 objects never contemplated at the time you became subscrihera for 
 
 f ^ 
 

 f ^ 
 
 •emiUHl prti-HHWlW bk a i.ul.lic work, from wl.ul. Kfent i.uJ. m' ».•• -Ht 
 
 •nnnMrhinK mcrtinif. vo.i will a.linit or nfRntivo Ouh fn. t ; nn<l. »'y J"« "^ 
 
 of the utter incappoity. or Uio oiirolrHnncM. or the in.l.ff«n<n,-« ot thono 
 io wli<me jsuardianMiip the cutorpriKo haH hitherto Uvii conU-lml. ^ 
 ' - . "A HHAU*:ilO|/l>KU>" 
 
 ' . , V- -H, • ■ 
 
 Theforw of on Hocti^o wan gone through. on the llth DcccmLer luKt, 
 Mui tiM fiiUowinx wuH defkncd to Ihi tho rcimlt-.-r- 
 
 Vox*)'. 
 
 . B.W.Smith, .., — • •••• ^•tl'l? • 
 
 I.<MJilmor, •»;]' 
 
 r. j.orton, ..— ••••• ''':::! 
 
 .1. t', MorriHon,. " 'f^;^ 
 
 --..,. ^. 4:11 W 
 
 Jnjne« Mitchell ..- ■ Ji?:'' ; 
 
 Ge». II. C'hen-y • J-'V^ 
 
 K. iMIajic.Vl'. : •••••• •••• Jg;; 
 
 AnguM MorriHon, — "jr) , 
 
 W. A. BaWwin, • **'" 
 
 «Jio gentlemen, the firHt six were mpn«l.er« of the old Bounl. Tiie 
 0N»fS,llv« were pcriron* who had never taken any intercrt whatever in 
 th« concern. , • 
 
 Tho following an) the votes which wore given for gentlemen who were 
 notelocted:- r ' ^^^^^ 
 
 Oeorge Barrow, • ••— •'—••• \^^ ' 
 
 0. BercKy, • "•••""— '49; 
 
 J. Arnohl, • }«J ; 
 
 J. Lukin Uobimwn, ••• {X' 
 
 J. McMurrieh. • — {7"!] 
 
 Allan Mnedonell, • i*^*- 
 
 K. DcmpHpy, • ........<..."••••.•■•• ;_• 
 
 K.IL Brett .v....... 1^1 . 
 
 ' Thomas Bell, , .....•.• '-* 
 
 A«h»m WiUon, •••• .• '" ' 
 
 r. C. Oapreol, ........»..tw.. —' »:»« 
 
 G. T. ^)eniBoni ....:v....... •; J^J| 
 
 1». M. VanKoughnct, ............"....•'«,••••• ••••• V^ 
 
 tf . U. Camcrun, • ^..'^*. • ^--' 
 
 \V. Wakefield- •• ".'Jt 
 
 M. P. UaycH, .— •— •— ;• ""fl 
 
 J. Gi BoweH, it 
 
 John ('ftmeron, ..........,•..••>.•."••'•••••" •"■" _ 
 
 E. F. Wluttcmorc, • • •• ' 
 
 -* 
 
 'Vl 
 
 .7- 
 ■/■■ 
 
•<> 
 
 If thfl four thnnniind ft»rpij?n \Mim cirntwl liy tlin dlvUion of th« 
 f;ontrm-tor«' StiMik, iintl i;ivf<i i» favour of tho niiuion on tbe plctited 
 lint, nro tloiluttoU from tlut iiuiiilK'r of voU'h upiicrtruin for cnch, tlie 
 lo;<itinuito xtuto of lli" |miII will li« uHcorliiiiuMl. 
 
 With tlio Hiiifjlo iltmiro tluit tli« fui-tM iit connwtion, with thin pocu- 
 lliir ftffiiir mIiouM I<« nimlo known tj» tho juililic, hnvo th«Mo letters 
 tiven written ; nntl uro now |)uliliMh<«(l in the |ircNcnt form. 
 
 Toronto, Febiuanj, 18.'i2. 
 
 -. > 
 
 
t)l« 
 
 ted 
 the 
 
 LHTTHUS. 
 
 <JU- 
 
 LKTTKIl I. 
 
 To ihf KiUtor of ihc Patriot: - 
 
 HiH,— IIilKt lUi lu-t. Mn...ii.lin|r tlu- ii.t of inc..ij^..atlon. ll... HJu.r,.. 
 hoMom in tli.' uIh.n.. in..|.ti..iuMl Coini..iiiy «<'n' M.mn|.fr.l ..i, hiilur. a.v 
 IM t4» I'xnriH.* u ri;il.t llmt ln»H now lKvn'.i.„r.rh.l aJHrn tln-ni- l.nt 
 
 wliioli lm.l not I n |.rnx ul.d in tli.< oii-inal a.l-tliiit of rl.rln.!; Dnvdom. 
 
 Till. l'h.vihional DiivtorH nanu-l in ilu^ a.t of m.-ori-oiatioi, f..r l«.. 
 vvam pant luul as8uni.-l »o llimiM-lMs |.onv.;is wln.lt l\w a.t IumI n,-\.T 
 ronf.Mwl iiiM>n tlu^ni, ,xcumu)i u nmnajr.-n..'nt an.l ......tr..! n'.vH|,.'.ti>o 
 
 of tlu- vifWH ..r wlMus ..f .l.ar.'l.ol.lHH wli.. n.r.' nui.li u.-.v n^t.T..t.-. 
 in tiK. w..rk- tlmn tlu'V w.-iv. Ttn^o I»i..Ht...H. x>l". m- tn.,. aKMun.-l - 
 to tlieniw.lvcH » ih.vmV xslii. I. tl..- x.'iy a< t, nn.l.-r wliul. Uh' tli.-li ni.;.'tn.« 
 w,w nm.n.l.lf.1, lia.l .l.-'laivl to 1ki an il^rtl .•v-niK.«.>t |..m.-r. .1.-1 i...t 
 iKfitat.. to m-ro^at.vt.t tl...n.w..iv.'s (1... ri.,'l.t ..f >V.tl. .oMn.tr all n.t..nna i..n 
 fwn ih>m^ in..Ht Inf.^rvsttMl, an.l tli.-y .li-i Hiin with nniawHly,-l..r tu-y 
 o«,nt.'.l i<..t ^^itl.out their ho.t,-th.. nm.ilt of th.- d.M-tu.n i,n.v..l that 
 th..y W'Tc UuM.o:nin.-.-H ..f n»mt.rs;.lh.-i- than tho ^hm'\uA,U^/ie 
 eoutraelorx. Thow Dinvtorn may i«.IUat.- tlu-.r .•..n.ln.t an. IksI thoy 
 ,uay,huttl»Mml.Hc-tvill vi.-w it h> itK j,n.|.or h-ht ami |'[;";;'"'/;«; 
 jluiAlwntm-cmlinnly; an.lthat ju.tMn..nt will he anv InnfX l.nt llatt.T nj; 
 t their rcnntntion .m puhlic in.,, to uh..n. in n.nH.h.l th.- KuanlmnHh.,. 
 ami pwinition of tin- ^.-n.^ral int.r»H»K of a \>»h\u: C..n.imny Hv tVir 
 rofuwil Uy L'ivo an aom.nt of their Htowanlnhii^ whuh, un.|U.'stu.nf.l, tlioy 
 • Imvo exerdHcHl for a |K.rkKl of two yoaix, tluy i.r.Hlalni to the worl.l that 
 tbettj iH Hoinethinfj conooul.'d which thov .Ian, not avow. Ihoy havo 
 forfoitiHl all daiin to confl.lon<T, they have mt at .h-hamo a I imblw 
 n«>ect, and tlwy havo aijsuinod to tluiuwlvci* a right ot i.r.M-.»ilin)X ft.l^ 
 voreo U) tho tnic interests of the Company, and at vanaluc with all th..H« 
 wtabliHhod nilcB ami nxajr^^ hy wl.icU other ahWK.iati.nw arc K">vt"<''«^l; 
 yet, uotwitlwUindintJ all this, many of th«*i.nr« again .D»(hU>i-k, Hicy, 
 With the no^v om*, are plmotl thefx', n.A l.y tho Munuiimhty oflov..ntn 
 and the shait'lu.ldons but by tho contraot^^'H wliowi «cr\antH tlu-y now 
 are. From all that wo luivo wen an.l know, what are wo t.» uxjnit 
 from the future mamigemont of thin iJimr.1, but a sum ar txmr«3 ol ion- 
 duet to that which hart markeil tbo i.r.Kwlings ot tlnvlaHtf llu- gw'i.t 
 dissatisfaction of shareholders to their pHH-irdiTiitH is evilu-ed l.y t he taet, 
 I that many arc now taking a.lvantag.i of tho clans., in the am.Mi,le.l .-u- , 
 ' and demsinding back fn.in the Oomi-any tho several in.talmehts which 
 they have paid iu \ximi their bubs^ribcd stwck. 'J he vrociie^lmgH ol tho 
 
 «. 
 
 / 
 
 !*i«S 
 
,— ^• 
 
 IJoiitractorH in noininaUng tl\e present B«>ar(l of DirccUrH, liave now 
 nssunted a character and a shape which will compel every stock-holder, 
 every rate-payer, to enquire into the state of the Company's affaire. 
 The Contractors, or some of the Directors with them, are evidently 
 pursuing a course for the sole and only purpose of subserving their 
 <>own views and schemes, to the exclusion of every consideration and 
 regard to the interests of the proprietors, and prosperity of the road. 
 ihe .City of Toronto and the County of Simcoe can have but one 
 thousand votes for the £100,000 invested. The Contractore, 
 with their £90,000 at the recent elecUon for Directors, produced 
 upwards of 4,400 votes, and placed in the direction men, who hbwevcr 
 estimable they may be in private life, are not the men whom the 
 rate-payers in Toronto and the shareholders, would have dreamed of. 
 placing there, or intrusting to them the management and cQn(tn>l of an 
 enterprise, in which.thcy have never shewn a particle ofintei^st; and 
 'whose only interc3t now is, Co subserve schemes aiid objects foreign 
 to the success and piosporityrof the work itself. . '- 
 
 ^SHAREHOLDER. 
 Toronto, 13th Dec, 1852. 
 
 n 
 
 lj:tter II. 
 
 \ 
 
 To tlie Editor of the Patriot: 
 
 \ 
 
 . Sir,— ^In reviewing the new Board of Direction, it is necessary thai 
 we should not overlook the manner in which it has been constituted. 
 That iBoard has been elected, not by the votes of then* citissen share- 
 holders, the Corporation of Toronto, or the Simcoe County Council, 
 but, by the Contractors, and that in a way too glaring to be overlooked 
 by the body of Shareholders, by the citizens of Toronto^ or by the 
 rate-payers of the County of «mcoe, unless they bliiid their eyes to 
 facts as notorious as the noon daf sun. The Contractors hav$ become 
 the masters, and the Directors their servants. ° Owing to a prevailing 
 want of confidence in the former Board, there were not more than 676 
 votes of Shasebolders, who had qualified themselves to be v< ivis by 
 pa) ing up their instalments due, (exclusive of the present Board)* The 
 County of Simcoe possessed 600, the City of Toronto 6Q0» the whole 
 with the shareholders, 1676, and against this, number, for each peraon 
 upon the present Board, were polled upwards of 4000 foreign votes 
 upon stock, issued to the Contractors, arid by them split up and placed 
 in other hands, for the purpose of carrying the election, and this^ in^ 
 direct violation of the spirit and ihe meaining of the Act, which de- 
 clares that no proprietor shall have more than 500 votes; uid which 
 
 ^.\- 
 
\ 
 
 Y- 
 
 1 
 
 ■i .- .' 
 
 ■ ;■■><.- 
 
 I 
 
 / . 
 
 ^v. 
 
 Act precludcH the City of IWouto a gujutor number. A Coiuiuiit»c 
 uf the City Council, pcrceiviiig the jii^Uoii in which matlers Mood, 
 iuid tJiaV the Warden of Himcoe was pre|)iired W vote with the Cim: 
 tractors, eodeavored to effect u cotupromisc, and submilled to the 
 Warden and tlie Contractors a list of t4even names; six of them the 
 nominees of the Coutractor>s tlj\{ remaining five, the nominees oi the 
 City Council. AU^ipugh the Warden of the County of Smicoe voted 
 tor three flfBhis five, y«t tlie whole five were thrown out, and five of 
 the Contifilrs nominees substituted, and elected. Hence the repre: 
 sentaUon of the Proprietors, the City of Toronto and the County of 
 "Simcoe was nullified, and the manugemcnt of the affairs of the Com- 
 pany' vested ii» the hands of the Contnictors; for they have placed 
 u[)on the Direction men who Will supfwrt the measures and movement!* 
 of thc«c who have thus put them in power. 
 
 It, is now clear that the scale of voting was altered, and made so 
 broad, as ettectuallv to set all othtf interests aside but those of th.! 
 Contractors, aiid that, too,- without other interests havinjjgbeen con • 
 
 ..suited. ,; - '- 'V ; V-' ■. ■ 
 
 Since the election the Board have appointed Jpstiph C. Morrison 
 to be the President. Two years ago ho subscribed for 100 shares, 
 and upon them he paid the sum of ill 2 lOs.; from that period to 
 this, has he paid up any further sum? or any one of tlie several m 
 sUUments required under the By-laws^ the Company, to the making 
 of which he was a party ? It is publicly asserted that he has not ! 
 and" that on the day of electidn he stood in this anomalous position : 
 he wasnot qualified to be a voter-^biit he became Director, and has 
 since been elected the President. If this Iw the fact, is it not prepos- 
 terous that this gentleman, whose actual stake in the Company 
 i is only jEt2 10s., should preside over its affairs, whilst anqther whose 
 paid up Htock amounted to £300, nnd who hiis also a farther sum of 
 £1200 invested in the Company, should be kept out of the Direction 
 by tlie Contractorsf Which of these two men evince the greatest in- 
 terest and confidence in the progress and prosperity of the work-^he 
 who jKiys up £300, and takes the bonds of the Company for a further 
 of £1200, or he who has only paid the sum of £12 lOs.? To which 
 of these men. would the shareholders and the ratepayers of f,he City 
 of Toronto and the County oi Simcoe sooner trust the administration 
 of their affairs? Frdm this fact alone, is it not apparent that there is 
 some latent, some chiselling scheme that has prompted tlie contractors 
 to adopt the course they have pursued— a cou«*e of proceeding 
 that will militiite greatly against their own interests? for it will create 
 suspicions as to their fairness of deaUng which, otherwise, had never 
 been aroused. They required no board of Direction submissive to 
 their wilL Thch- contract was their protection. Let them perform and 
 fulfil it fairly and honestly, and they could exact a rigid performance 
 upon the piart of the Company ; and they would also secure the Gov- 
 ernment Ouaranteo, though they diff not truckle '« f/>e iippoinlmeiyf 
 
 ■I ..' ■ 
 
 : <*> 
 
10 
 
 ofjitneptt C. Morrison ox Prexidcnt, in ordor ti> obtain it. Their 
 best interest were to imve supported ii board of Direction that would 
 have civen a character and n confidence to the undertaking; » board 
 of l)ireetion elected by those who have ever evinced a zeal and an 
 interest in the enterprise, and proved that zeul and interest, by the 
 paid up stock they represent ; or lliey had better Bare abstained from 
 voting at all, and left it to the Municipalities and the shareholders tov 
 have elected the I ''^" I. But a board of Directors elected by the 
 Contractors will . • -ip it with a character— not such as will induce new 
 subscriptions for stock, or former stockholders to continue upon the stock 
 lisL.mny thiit an opportunity is nlFofded ©f withdrawing from the - 
 (Company. The result of this election has stamped the undertaking 
 with a character that has destroyed the Uttle contidence that remained 
 in the minds of some as to the advantageous results to be derived from, 
 the road. This is proven bv the various demands that were immediately 
 made by stockholders to receive back from the Company the instalments 
 • which they had theretofore paid in, and to cancel their stock. 
 
 / ' / A SUAREHOU^ERv- 
 
 Toionto, Itlh Dee., 1852. • /■ 
 
 - LKTTKR lU. 
 
 ' " ■ ■•■ ^' ■ ■ ■. ■>-'.'■■ 
 
 To thx Editor of the Patriot : 
 
 S„{__The Contractors of this road have either been duped and 
 betrayed into a course of proceeding adverse to their true interests, 
 bv some designing and impiinciplcd schemer, for the attamment of 
 private obiects, to the total disregard of the advantages of the con- 
 tractors themselves, and the ultimate success of the enterprise ; or they 
 have wilfully Jind designedly adopted the course which they have 
 taken to escape a dilemma, and accomplish their own objects at 
 all hazards. Truth lies on one side or the other of this supposition. 
 I am unwilling to-think them guilty of the latter; but the position m 
 which the former .part of these remarks would place them, 1 have 
 reason to believe, is strictly applicable to their case. 
 
 To them it has been made to appear, and they have been induced 
 to believe, that the Government guarantee to which they are entitled 
 would be withheld from them, and that they would not be allowed t(» 
 participate therein, except the Presidency of the company were se- 
 ' cured to Mr. Morrison. That gentleman, bemg m the confidence of 
 .the Contractors, knew "how to play his cards," md what parties^ to 
 place upon the Board in order to secure this office imd its anticipated 
 •idvantaecs. lie knew what private influences could be brought io 
 hPrvr upon tAvo, at lov^t, of the pers<rt>s elected, in reference to the 
 
 >r -#--'■, 
 
 -'^ 
 
 •< 
 
u 
 
 ->r -#-'•, 
 
 A 
 
 ter.»iuu8 of tl>« ruutl at Lake Uuiuii, whoieby to^secuic ll.c. votos in 
 his favor as President. As to the rest, few of them know httle. ami - 
 cured loss, about the matter, provided their friend eould real, a vuh 
 harvest from his schemes and intrigues. They were regardless whellu- 
 tfio road became a proliUiblc investment to sharelioldeis generally', and 
 a source of revenue to the city of Toronto, or otherwise. 
 
 To achieve the great object, however, which the road was iiitemled , 
 to accomplish, other means than tliose now pursued must be adop ed ; 
 4ind the management and direction i.f tlie Company's aflans must be 
 resigned to other hands, having an actual and heavy interest in .the 
 prosperity of the undo rtjxking, lest iU future prospects be blighted^ 
 ' Hfe terminus at the north must be carried to the best and sciurrst- 
 harbor, irrespectiv6 of private interests, a>id not with any view to the 
 eniuuiceraentof the value of property whicli raay^hnppeii o be owned 
 by a DiBKCTOK of the Company. . The successful operations ot the 
 ' road muit be the first consideration ; and its prosperity can on y arise 
 from the trafficit will draw by affording to the extcnsiyc nliipping 
 interests of the western lakes, a safe, secure, and c<.mrao<hous bailor 
 And this is of paramount imporUuice in deciding upon a tominuis at 
 Lake Huron. '^-i 
 
 •In raising the meatis'for the const ruction of this road, the late i)i 
 rectors acted upon a verN tallurious principle, w+ich already places n. 
 jeopardy its ultimate compl.lion. Having succeeded in^ecuni.g c.n- 
 tributions from the city of Toronto and the County of bimcoe to thy 
 amount of £100,0U0, they appeared to treat other subscription?^ for 
 stock as unnecessary, or at least, never place^ themselves in suefi a 
 position as to ensure them cither in Canadji or elsewhere. J hey 
 souffht only to retiiin their own position, and to build tlie road upon 
 ci^iT by issuing the Company's bonds, bearing interest: and not 
 upon CAPITAL subscribed and paid by instalments, as.rs usual m mI 
 siiular undertukino-s, and which is the only legitimate principle u 
 proceeding. In so doing they have made a grevious, if- not a fatal 
 
 mistake. , i • i 
 
 • Building nulroads on credit is a ruinou.s system, and one, whal. 
 
 contains mthih iiself the seeds of its own destruction; Uu* truth nl 
 
 which, it is to be feared, will ultimately be exemi)lilu-d in ihisinstMiuv. 
 
 The Company has commenced operations with a mill stone around 
 
 its neck, and the nearer it progresses to completion, th- heavuMviH 
 
 b'e the burden it must bear. This is an mdispuUible fact, winch no 
 
 sophistry -can overthrow: and any arrangements which mnv hsnc 
 
 ' been recenUy concluded between the contractors and the U.r.ctot-s 
 
 based upon such a scheme, although it may secure the cf.mj)lenon r,t 
 
 the road to a certain terminus,it will prevent the possibility of its eve, 
 
 becomiit a paying concern, or even a secure investment, ihis 1 wil 
 
 show by astotementof facts and calculations founded upon the prtsen 
 
 condition of the Company and the anticipations of the Directors, and I 
 
I-'- 
 
 :■■■ 12- -,-. 
 
 will dure ft rcfutfttion of Uicm upon any calciilaliwus equiilly wtH 
 
 fi3i/unded. . - ,\,\' 
 
 y^ It is expected, both by the Contractors and the present bdwrd, that 
 ■^ they will be able to nccotiatc the bonds of the Company in England. 
 Any Company to be able to effect such an object, must produce such 
 a statement of its affairs, and anticipated results, as will justify n 
 capitalist there, even in entertaining their proposition. 
 
 When the late Board (»f Direction withheld a report of iKe state of 
 their affiurs from the meeting of shareholders recently aflsembled for . 
 the election of Directors, under the impression, that any report tliey 
 could make, consistent with the facts of the case, would render their 
 bonds valueless in the London roarfcet, what statements can they now 
 m^e, to induce parties to become purchasers of their bonds in any 
 
 Let them not bnild their hope upoft'an easy accomplishment of theij 
 cherished object; for is it not possible that before their bonds can 
 reach England, theieal condition sind true'state of the affairs of the 
 . Company with all its contingenciex, will be known there, and the sub- 
 stance of their present plans and calculations thus become a mere 
 shadow— the Contractors finding themselves in the end with only 
 shadows in thein hands ? They however are de facto the Directors, 
 and must Ibcrefore, bear all the consequences of the position wl^rh 
 they have assumed. 
 
 . A SHAREHGT^DKR. 
 
 Toronto, 18tb Dec, 1852. . 
 
 LETTER IV 
 
 To the Editor qjf the Patriot; ^ 
 
 StR,__Tn the act under which this Company was incorporated, cer- 
 tain persons were named as Directors, appointed for a spkcific puk- 
 posfi ONLY, and their powers were rcstrieted solely to the purpose of 
 raising by lottery or otherwise the necessary means required tjp con- 
 struct the road. The parties so narned were F. C. Capreo!,th4 Hon- 
 ourable H. J. Boulton, the Honourable Robert Easton Burn8,|John 
 Hibbert, Joseph Davis Ridout, Albert Fumiss, Benjamin Holmes,, 
 George Barrow, Charles Berczy, and Joseph C. Morrison. The first 
 named seven gentlemen kAig ago resigned their places, and the va- 
 cancies thus made were from time to time filled up by nominees of 
 the two or three individuals who still continue^ in office-' — these gen- 
 tlemen claimed the right, and exercise^ the power, to elect whom thej^ 
 chose to the Board, irriespective of (he wishes or the views of those 
 who had become stockholders. . 
 
 :«^f 
 
 \ 
 

 13 
 
 >. 
 
 'I'liis b(idy of Directors, so coiislilutcil. aokiiowlcdgiHl no roRponsi 
 bility to any one, not even to tl»c proprietore,— whoincunHcqiience t»l 
 an unpardonable defect in the act of incorporation, too late discovered, 
 tliat they (the proprietors) were precluded exercisinf,' that right, so 
 common to all associations— that of electing from among their oo- 
 shareholders such parties io be Directors as might have the contulence 
 of the majority. Hence originated that distrust, that want of confi- 
 dence in the management of the undertaking, which deterred so many 
 persons of worth and respectability from becoming subscribers for stock, 
 whose names would liavc given character and weight to the under- 
 taking, and inspired a confidence in tlie enterprise. 
 
 It was the fact of the Boajd being thus a self-constituted body, and 
 subject to ao control, that caused subscribers for stock to heflsk to 
 pay up any further instalments. Of the £15,000. taken ^ by private 
 stockholders, only soiaie £375 was paid up. However, this Hoard of " 
 self-constituted Directors have, during a period of two years, exercised 
 a control in the administration of the fJompany's affairs, which, prior 
 to the recent amended act, was discovered to have been iilkoai.-, and 
 in this act, procured by, and at the urgent instance of these Directors, 
 to fortify themselves against the consequences, it is provided that 
 
 "KACli AND EVERY ACT, MATTER OH TllINO TIRRETOFORE, DONE OR tO 
 
 BE done" by the aforesaid Directors, shall be legal and valid, ^c, Ac. 
 By the amended act the proprietors are permitted to exercise the 
 right of voting for Directors; but the clause which confers this privi- 
 lege has been so devised that the city, of Toronto, the County of Sim- 
 c(M, and all individual shwreholders combined, could not, at the late 
 meeting exercise the power of electing their own Directors^— that 
 power was held by the Contractors, who exerted it successfully, and six 
 of the former self-consU'tuted Directors, are now elected Dihectohs by 
 the Contractors. It was in vain that the shareholders asked for in- 
 formation relative to any part of the affairs of the Company:— this 
 was absolutely refused upon the ground that the Directors were not 
 obliged to afford any. , ' ^ ■ 
 
 Can it be, that men professing high honor, and strict integrity of 
 principle, would hesitate to accord to the proprietors of an association 
 every information relative to the manner in which they had discharged 
 a trust, whether that trust had beon assumed by themselves, or had 
 beenconfided to them by a constituency, and particularly as to th()se 
 «act9, matters or things heretofore done or to be done," which 
 they had found it necessary to apply to Parliament to make valid and 
 
 legal? . , ^ J 
 
 If the condition of the affairs of the Company were so deranged 
 
 and unsatisfactory, that it would reflect little credit upon their man- 
 agement, knowledge, or forefflght, would it not haVe been more manly, 
 honest and straightforward to have come down to the recent general 
 meeting of stockholders (the first that has been held), with a true state- 
 ment in detail, of the actiwl position of i^oh affairs ? And althougK the 
 
 , ■ V ■ 
 
 li 
 
 -J 1 . 
 ■r 
 
 \<; r 
 
*• 
 
 14 
 
 ^ 'refiult of Hlich 11 coiiisf of jiiXKiuuding, luiglit not eMUiblinh ii chuhiclur 
 
 proving tlicir cwinpetcnoy to control iiiid direct li work lilto thJH, — 3jet 
 tljeir bumisty of intention, woiil<l not hnvo been quoKtioncd, their in- 
 tegrity of pni-iuwc would lmv« remained imsuspocted. 
 
 Under ull tlio circunistiinocH by which they wcro surrounded, — the 
 long, uncontrolled, «nd irresponjsibic power which they had assumed, 
 and illegally exercised; the manner ia which thoy h»d introduced and 
 succeeded In procurijig to be enacted the amended Hill, whereby the 
 City of Toronto, the County of Simcoe, and shareholders generally, 
 arci, disenfranchised, rendered it imperiUively incumbent upon them, 
 . as honest guardians of othera' interests, to have met the shareholders 
 
 with a full report of all their proceedings. 
 
 Where there is anything to conceal from the knowledge of 
 prietors, there will ever be foimd something radically wrong; some 
 - secret jobbing, some unfair proceedings, which, were they known, 
 
 the shareholders generally would repudiate and dcnoiincc. 
 
 . ' If these shareh<jldcrs, for their own safety, are now compelled to 
 
 endeavour to ascertain the true, condition of the Company, they can 
 only do so upon such knowledge as, fnjm time to time, they have been 
 enabled to procure, It must not, tlieivfori', under stu'h disadvantages, 
 be expected that ii complete and perfect statement of the resources 
 ; and liubililics of tlie Company can be arrived at. 
 
 There is, however, suflicient known datn upon which to found calcu- 
 lations relative to the present position of affairs, the progressive inprease 
 of the iiabililies of ihc Company, and the ultimate results which 
 must ensue, under the principles heretofore pursued' in the manage- 
 ment thereof. :'> 
 
 A SHAREHOLDEa 
 Toronto, Dec. 30, 1852. 
 
 .'' . ■'■■. " M< ' 
 
 LHXTKll V 
 
 \ 
 
 Ti/ the Editut of the Putriot : -—. 
 
 SiB, — ^To iHvenabU'iI to .iirive ;it anvtliir.ji- like an exait staUiMe"^ ot 
 the Conijuniy's afVaii-s, it will In- ncwssary (o rakulate upon mnw giyen 
 terminus at hake Huron. I know Lake Huron well, :nid I am familiar 
 with the iucoulpiuable adviuitages whit'li some Imalities on that lak^ 
 otter over othere as a terminus, presenting all tho«e attractions whivh a 
 fit, swuro, aifd ciimuioilious iliarbour cioi do to ensure the trallie of the 
 west and the north-west, a eontingiMuy upon which the success of the 
 road absolntt'ly dt'iKMids. ' I am likewise cognizant of tlui iiisuperalde 
 ditlicnhies to l-e encountered in attem]iting ty cciisliii't artificial h.arhoin's. 
 
15 
 
 wlwro naturul olxUidfrt juut i'vposoil |.osij1..iiH i;.rJ.i.l lli.' »*u>, ,'h-jiil .ic 
 coinpIiHliinoiitofHiuhmi iiiijlt'ilakiiisx. l/viH iint lA.w .•iit.f ii|><iii u ooiii- 
 pariaoiMif tho mlvaiiDi,!j;i'H dI" tliu .lilli/fMl i..)iiitH as ii tciiiiiimrt ol" tlii,* 
 iXMul, iniwnuu-li ms IVoin all I can Ivai;/!, tin- i-iv-^ciit lioanl of Diiwloih 
 aro dotormiiiod to mako tlm ttiiiuiinlH sKmcwli.;ro at (In- N.'llawahaj^a 
 Huv, oithor at tho "lion ami Chicly^as," or at lluv Uivi;i- Nottawinsajija. 
 
 Tho former called harlionr is ^itiiato in tho hi-rht of thu ITay of Not- 
 Uiwa'iajja. It is a shallow in(l<Mitui(i oi\ tho <;oM!<t. OlV its moio iiorth- 
 wostAtrly ^Kjiiiit lio two or thn'o/iVHks; l.iit thcs.' allonl to tho harlMUir no 
 proUxHiou: it may 1)0 Kaitl Wfonn a tolomhio^hoat liaiLour: hut to 
 mako it lit all fittwl for larj^o cratt, at tho least, .tlOD.OOO' must Us «'.\- . 
 jMMuled in drodf^injj; and constTUrtiMii; piovs in a noitlu-ily and i-astyrly 
 direciign, to Hay nothinj; of oxtolisivi^ iv))aiis that will he yearly r('.|uirwl._ 
 And yet all would never conMitutt^ it a safe, seeure, or eomuKMliouH 
 harhour, or one easy of aeoess. Few seamen would Ixt so reckless as tp 
 -attempt to tiike a v'esrti'l within mieii piei-s with a sea makiufr from tho 
 north, the north-west or tho north-east; no sailintj;-vessel would attei^'pt 
 to make tho harhonr under sueh circvrmstaneeH. To outer withiii/the 
 pier would 1)0 exceedingly dan<;C»''"e"'<— to iniss it woidd Ih! a wiiain 
 8hip^vrock. She must go. ashore; f"r no vessel could work 4>trthirt/pIiu.V| 
 or out «>f the NotUuvasiiga Bay, against the heavy sea that rolls j/i there 
 fetching from tho north, the north-west, or tlur north-oast: to Work out 
 of the Bay xvould 1)0 her only safety. These ol.jections are <'iyualty aji- 
 plicablotothe construction of a harlKnn- at tho river, sitiylto at tho 
 bottom of the bay; and of tho two positions perhaps tW lion and 
 Ghiokons is tho few objectionabl.'. At this latter, the pi/f to bo con- 
 Btructed would have a 's()lid foundation t^) build upon. 'At tho river, 
 piers must 1)0 run out for the distance of a niilo, and these pit^ix niust 
 .U bnilt upon shifting sand-bai-s and fpnek-sands, wl^ih cliango and 
 .shift with every gale" of wind. To snceeed^n est-ibhshing i.iein they 
 must, in order to obtitin a foundation, get ZicA»//' the i/ithn'iiees of these 
 san.ls; but to do this would cost double tho aniouA ex\.en.ied jjn tho 
 ' railway.— Fields of ice, which in tlu> spring are dri\Vn from the northern 
 shore by the prevailing winds of that season, au.rfroui tho north-west 
 from as for as tho str.iits of Mackinaw, ai-t! driv(>n along the southern 
 shores of the Great Manitoulin, and ])nRsing lietween that isiaml antl 
 Cabot's Head, are concentrated in Noitawasapa Batj. And atiy piers 
 that can bo constructed at the lK)tU)ni of tl>at baj-, will Ik- found Hung 
 back upon its bejjcli amid piles of ice, such as are so friMpiently accu'nni- 
 latetl thera The approach from the lako to the Nottawasaga ri\t'iv often 
 affords a channel caiTying from 15 U» 20 fe<t water. Atler severe wea- 
 ther, this channel changes its coui-so, and its position is not i^nU Ayidely 
 ■ different tp what it was previous to tho storm, biit there would Ik* foiind 
 only /oHr or/yc feet depth of water in its new channel. During a lortjf 
 continuance of fin© weather, the cunent froin tlie ri\er woiks this chan- 
 to its natural depth.— Another storm, an>l the /haniiel is iigain ehanged 
 
 
16 
 
 jierhiiiw to an ontiiwly uuw tUrycUon :— wliiit w U«o dopth of tho shifting 
 muitl-burf ^ 
 
 With thin iutrtHluction I enter iiiwn the Hubjcct of the nrcwnt condition 
 of the Coinpuiiy'H utliiins and its fittiire i>ioHjp«itts undur tlio syHleui ot 
 nuinngeniout now |)ui-Huc'd. 
 
 QENKRAL HUMMARY. 
 
 Canital Stock... ..— .-.... — ^ ^^^X. 
 
 Loiuw authorized to bo raiaed by Company .. ^ 250,000 ^ 
 
 Total nicaim under provwioiW of the Act ... il 760,000 ^• 
 
 PUOUAULB LKNOTII Oy LINK. 
 
 'f o "NottawnsJiga Bay will Ix^ about 07 miloH, 
 . which at toiitiw-t l»ri<e, :l^fl'260 per mile is. 
 
 ThiH Contract dooH not include station 
 houBeis rt)IHn>,' Htock, Ay. ; U) provide fw Un-iw 
 £ 1000 add itional per inile Ih rwiuiretl ..... 
 
 A terminus at Uiis Bay, either at the "lien 
 and Chickens," or atf the Kivcr, will involve 
 an expenditure for a harbour, not less than 
 £100,000. (Thedistimceto the "Hon and 
 Chickens" is son^e niiles futthdr than to the 
 River).....-. 
 
 Conrte<iuontK' to meet the deficiency, there 
 must be an application to the Parliament to 
 increase the ^pitsd stock to tlie extent of. . . 6.'l,250 
 
 
 100,000 
 
 £803.250 
 
 £803,250 
 
 T!l 
 
 ..,_ CONTRACT WORKS APE TO BE PAID FOB AS FOLLOWS: 
 
 StotVtJiken by the City of Toronto), iUid bonds bearing 
 intoresU issued to the Company for ...........,..".-- - 
 
 Sto)6k Uiken by the County of Sinicoe, and binuls bearing 
 
 inter^t, issued to the Company for 
 
 Bbuds of the Company guaranteed by Ooyemnieut . , - 
 
 itock taken by the Contractors ........-» 
 
 £15,000 of stock was subscribetl for in the City of To- 
 ronto, and bonds of the Company were issuetl for tiiat 
 amount, based upon the subscription. Tliis is now with- 
 drawn by the sharelioldera, aiid the amount is included in 
 . that which has to be raised by the Company on bonds to 
 the amouiit of, . .. .- -■- --•<- 
 
 £60,000 
 
 50,000 
 250,000 
 100,000 
 
 363,260 
 
 Rt»ing the amount rtvpiii'etl to make up the sum net^essary 
 for the construction of tljie road. .... .... .... 
 
 £803,260 
 
17 
 
 w 
 
 01) 
 
 10(1 
 !50 
 
 900 
 
 900 
 OOO 
 000 
 
 260 
 
 ^sr 
 
 *^ TIIBBK HAVE DEKN I'AID TO TUB crtNTBACTOH«. 
 
 IfcrntU of the City of Tor«mt.s \mr'in% i"t"r.«Ht. .... .... 
 
 BoniU of the County of Siincw), iKMiriii^ iiitiTont 
 
 Bonds of tlio Company Inwiii^ intiTt-Ht 
 
 fomU of tho Conn>iniy lionriii^ inU-rt-Ht 
 Bonds with Oovcrninflnt (hiumntoo — ••-• 
 
 Paid up Htock iHsucd tA> thi) coiitractorH ........... 
 
 X6(),000 
 
 /iO,00fr 
 
 15,000 
 
 60,000 
 
 100,000 
 
 100,000 
 
 .£3G6,000 
 
 Portions of this Imt montionod amount of £100,000 Tmve lu^on mw^X 
 to parties in payment for hind anil for work done on tlio road, iti-., Af. 
 The hirpor jwrtion bt-ing held hy tho Gontrattprs t'lialdod thorn undor 
 the nniondod Act, ho uV diviilo iho Stock irn to wlw-t th.-ir own 
 board of Directors, to wcujo to Mr. Morrison, tho Prosidunoy of tliu 
 board, and thereby obtain tiio (Jovcrnniont j^uarantoo to those Itondn, 
 ^liich either had been ri«,ditfully witldicld, or had In'on wroufrfully re- 
 tained from thorn; tlie results of the Iatxjelt«'tioii of a Boafil of DiriKtoi-s, 
 under the provisions of tile amended Act, will ittstity this latter viisw of 
 the ca«3. A moat fla<jrant rtct of injustice has liowi'Ver Iwon eonimitted, 
 and the management and control of the deep aiitt subst^mtial intorostM 
 of others in this road, are thus conunitted to men;iin whom tlie majority 
 of shareholders would not4iavo confided such trust, ^, 
 
 Thirty-two miles of road completed, and in workittj]; order, with the 
 necessary station houses, rolling stx'k, *fec., at the contract price, would 
 entitle the Contnuitors to receive for it the sum of £233,000 
 
 WORK DONE UPOM THE ROAD. 
 
 Timber lias been got out for 65 miles of road.— Iron has been got 
 out for 64 miles; clwirs and spikes for 47 miles, and there is ir..n in 
 Quebec for 20 miles more:— 32 miles of track have Wen laid, but ithjis 
 not been ballasted— tlio original contract did not stipulate for this. 
 the contractors have since their contract agreement Ci)nsonted that this 
 shall be done. Wliatever oft'ect the Government guarantee n^iy have m 
 . fvitureupon the road, it must bo ailmitted that it has at Icist worked this 
 ■^ good result— it has compelled the contractors to make straight most «n- 
 pardonablede/ects,md io rectify those abuses which either thowilfulness^ 
 or the indiflference, or tbe ignorance of sm irrcsjwnsiblo Board of Dir«}ctors 
 permitted to be practiced in the constructioa of the roiul. 
 
 DEBTS DUE AND PAYABLE FJUST JATTOART, 1853. 
 
 Assuming that up to the iiA?f J»ly !«»*» ^^ ^^^^ «" F'^"** ^^^ 
 
 . had beer imide to realize, or neart^ttieet the liabilities at that time duo 
 
 for interest upon bonds issHed— this private stock being now withdrawn, 
 
 • Mr. Morrison on 11th Dec. laat, stated that the Contractors would 
 fe w day r w e Wc th a t amount . — - — ■ — — — 
 
 in a 
 
18 
 
 * • 
 
 fiml, n<» un<W Iho nnwnt tiircHuwlnnriis n<» now Mii>H<ril^«n* can Ik' in- 
 »Ihc«1 Uy tftko MUx-k, tli« only twam whm'hy tlifi l)imt«r«m««k to obtain 
 fJio nwownry fundH nli«l n-t^iin tluir «^U•<'^ ftw, l>y ItorrowinRnionoy on 
 the credit of Uio Company, iin.l thereby mcRKAsmo tub I8hu«h ov 
 
 THRIR BONDfl. 
 
 It is «itinntfl«l that tho liondu of tho Company, not piarantHMl bv 
 (K»vemm<>nt, cannot l)0 miliziKl at a \om diwuimt than in jht wnt, I 
 am inform*^! timt such Imndn hav« Kmmi sold at Ml jKsr font., dimount. 
 On the firHt thiy of .Inly last, thon? whh lMirn)\v«l from tho 
 
 Bank of Up|tor .Canada to pay tho intoroMt on lionds held 
 
 by Mr. Cai>reol, and for otlwr uoos £l ,000 
 
 Interent thereon, being tho 6 months cndhig lot January, 
 
 1853 ;.... ■ 
 
 Half vear'B intorent, ondinff48tj)fJ«njiJ<|p 1H53, on Iwndr* 
 
 held by Mr. Canrfeol . .^CTTlTr. -.'}-.. . ---. -- 
 
 Interest \\\wn lyomh \mu<d by the Company for .£18,000.. 
 Interest upon Ixinds iHsiied by tho Company fi)i>X'50,000.. 
 Interest upon bonds held by Mr. Deni»on for £1,200...... 
 
 30 
 
 3 no 
 
 000 
 
 3,000 
 
 12 
 
 Due for intcrwt alone upon Itonds iwued by the Company. . £5,332 
 I cannot give the precino dates of the issuing of these bonds, and it is 
 possible that tho bonds for £60,000 were not ail issued quito ayear ago; 
 at all events, tho cakulation serves to exemplify the destroying and ulti- 
 matefy fatal principle upon which the road is attempt<itl to be constructed. 
 There being no sul)Bcriptions to bo. rcceive<l frorn Btockholders, nor 
 earnings from tho road to meet the payment of this interest, it involves, 
 again an issue of bonds to raise the £6,332 of an amouut equal to 
 £6,664 10s. In addition to this amount there mtist bo obtained money 
 to pay the various items of expenditure for salaries, «Stc., namely :— 
 Voted to remunerate tho services of 1st President. ........ 
 
 Voted to remunerate tho services of 2nd Presideiit * 
 
 Voted bj^ Directors to themselves, or £26 each ----• 
 
 Voted to the former Secretary of the Company.... ...*.. 
 
 For the half year's salary of the present Secretary ......... 
 
 For the half year's salaijjy of £ho Chief Engineer 
 
 Half yejH'B salsuies to two Assistant Engineers. 
 
 Office expenses, printing, (fee, not less than...;. .... .i»- -- 
 
 The paynient of this sum of £2,800 involves a further issue 
 of boBiis''f(M" the sum of-... .i... —'----.----- ------- 
 
 'Making an issue of bonds, on/ or about the first of January 
 last, to pay interest and contingencies then due for the sum 
 
 ofl..!..............,.,:.-— -^-— - £10,164 10 
 
 A bo ut thw dat ^t^"?' ^^"t^'^"'* will have received £100,000 of the 
 
 ..-c;- 
 
 Government guarantee. — The conditions upon whicb this guaraQtee is 
 
 ■/ 
 
 % 
 
 ;:/■ 
 
- 19 
 
 Rrimlo.l roi|iiirt«» that wx jwr cent, intcrt^l iintl a »iiikiiip Auul of tlirw 
 iwr ceiiL, iiik)ii tlio Hinouiil \muH\, U) i>ui«l liult' yoiirly into tlu> otiko ot 
 ll««ivor-(l«nor«l; himI llid puyini-nt of llim iiit.rrwt, Hnil iiiukinj^ ftind, b 
 M!curu<l ttH ti flret chHr^o or n»urtjj[ii(X<', u|K»n tlio wliol.) nuul, lH'f«»f«> any 
 diviiUin.U cun b« .IwlnnMl, or Hiiy otl«'r pnynuMiU miulo. In carry injt 
 out CttlouliitionH for tlio Kiu-««(.Hliii)j; inul mt^ry Buw-ciwive half y<W, lliw 
 nine per cent of cliiirf,'() numt Ui iucliultHl in ••vfry culinliition, in iui«U 
 tioii to th« iiitorortt lucumnliitinj;, iit it compound ratio, oil ovcry ^uccch 
 nivu iwluo of bondM by tho Coniitnny. 
 
 I)BBT or TIIK COMHANy »0U TUB II Air YKAIl KNUINO Tilt HBOT Olf 
 
 JILV, 1H53. 
 
 Six iwr rtMiL intt'rwL lUut thrc«) i»or cmU for BJnking fiuul 
 u|)oii i;i()(>,(MM> of (Jiianintowl UoiuIk, muvA on or about 
 tlio Hi-Ht of January, 186a X 4,500 
 
 llllOIVHt on biHuIrt — 
 
 for £ 1 StOO* isHuo<l by Company to Co«itrnctt)rB .... 460 
 
 ♦' 60,000 . ** *'^'"" 
 
 •♦ 1 1,000 hold by Caprool V 33*> 
 
 » l,liOO " DcniHon , 3<* 
 
 " 10,104 i««uo<l for pay niont of intercHt, Ac, duo 
 
 iHt January, 1853 304 
 
 Btiinj? to meet f «/«»"«»< only u... £7,120 
 
 Salary to Prmdcnt, half year 375 
 
 " Secrptarv* . 126 
 
 « Chief Enj^inoer 375 
 
 ♦♦ Two, Assistaiitfl 400 
 
 OtHco Expcnsea . - , t--- 800 
 
 ' Cohtingoiicic»spaynient8toDirectons«tc. 126 
 
 To raiao wUichsumof XJ),020 
 
 RoquiK* an , • 
 
 188110 of • _^ 
 
 IjoikIh.. XI 1,200 . ; 
 
 Making ..,X98,6G4 of "Bondf* of tiio Company tliat will bo i-SHUe^l at 
 tlio expiration of tlw half yoar ontlinf? tho lirHt of July next. 
 
 In mUlition to thcno punw, thoro will bo duo to the Contractom n fur- 
 ther payment of X 100,000 in boiuls }>;uarante«l by tho (Jovomment, and 
 also X100,000 in bonda of tlio Company, both bearing interest. 
 
 It must bo particuhu-ly observotl tliat out of tho Huin of X08,564 
 raiHwl by bonds of tho Company, only X05,000 hafo liccn paid to tho 
 contractors; tho balance X23,5(;4 has been exliauste^l in expcnww conUn- 
 gent upon negotiating tho bondw, in paying tho interest accruing, upon 
 thein, and also the contingent oxpenses of tho Board of Direction. 
 
 * JVb/e.— Salary to Secretary is iucreased to JE500 per iwawo, snouw be 
 £260 instead of X120. • 
 
 ■7 •• 
 
 ■\ 
 
"%■ 
 
 ■>^> 
 
 \ 
 
 Isft.'A 
 
 If, tli«n, in (ml«r t<> mc«i%o th« niinHint of X()ffJ}OQ,|a|« infblfBr 
 nn \m\M of IxulU for XOH.ndl, what luiiomit of l^n^LiiHpiMi \miml ■ ' 
 hy llw DiwUrm to r«>fili/o iIki mtm of X'.l6;i,'^ft« lu"*"!!^!^* |nMk« iMi 
 thit mito)unt of XHOM.'iflO; iiiiJ nKjiiirtHl for tlWWloiu|il.(tum of tlnMHifa- 
 mill til" <'oimtnutiurt of tlio liarlMinr ^ ' 
 
 AlKMit tlu* llrHl of July (Ii«t.« w ill hiiv.) lnH-ft Iwimm! of UmkIh Kiiar»nt«'<l 
 Ity |^)v*>riiiii(tiit X'200,(H»(», aii.l, of \muU of tlm (;om|>»iiy not I««h tliau 
 £108,004: iiuikiiig £aOM,{^U4 4K)UwUuUmt«n«t lit iiccuui^^^ 
 Olriuuly hIiuwii. ^1 ^J* ." 
 
 Data ImIiij^ tliuH jjcivoii, onliiilntiotm nn to tlifl r«*iill» nro roiuliiy mmlo. 
 Without inirrftiiiiK tlio ••altiiliaioiiM lialf yearly until tlio romlhiw iMxm 
 nttii|-»l(,>t<><l, l<tt UH tako tlai iiio«t favouraMo vi«w of tli« iimttor; ami ooii- 
 Ki.ici' tiii|(j|jb) wliolo amount of niou«y ro«iuiro«l haa InR'ti obtiiiuwi, an«W 
 tho r6^p|Nnii|ilut(-(l. 
 
 ACDBAL nrftW OK TUB COMPANY ON TUB COMPLirftON Ot TUB UK» 
 PUtSHtlMKII TO HE ON TUB FIRHT Olf JANLARY, 1854: — 
 
 3 fwr c«mt. Siitkiiifx KuinI, mid |H(|- coiit. intttiKt rwiuirod 
 
 uj)lf)n tlio (lovonimcHt (fuaiaiitoo IH...... ........ .-.. X 22,600 
 
 To coinploto tlui capital of- X'H03,25O wluVli luw ln«» nlw'wn 
 to lio lUHCHHary for tlwi Company to obtain— Ui« Bum of 
 £3!i3,*2!iO, w to Im) prixMinMl. To njaKzc tliic amount ro- ' 
 quircH an iw*uoof UontlMtotlin nmotintof £441,362 — An- 
 imal IntoroMt thereon ut (J \>ot cent. .,...........,...* 26,478 
 
 Total ampont of interest to ^ Jiafelif'jl^' • • • • ,'••'• ^ ^\'P^ 
 
 By ft reference to railway iW(WPvai^»f the ordinary line« in Eng- 
 land do n.)t eiirn mote than £15 ]wr mile per wwk. AllowinR then 
 £15 iK'r milo ix'r week from tho very ccmmiencement of running tramt, 
 miwt be coiwidered a sum far Wyond what this lino can pro<luco. Ten 
 
 Sounds prmilo per week mijxhtbo corotitlered ft very lil»oral calculation; 
 ut with a terniimm at the Nottawawgn Bay, it will not realize ftnytlung 4 
 
 <fliko this last amount. • '• 
 
 ■ WORKISO. EXPENSES. 
 
 Hn England tlicse amoimt to 40 per cent on the rtobs earnings. In 
 the Unitwl StateB to 65, ojid sometimes to 00 per cent Tako tbem on 
 this rpa< I at 50 per cent. . ' 
 
 Tho interest on this debt alone being .......... * 48,978 
 
 Ninety-seven miles of roa<.l yielding £15 per milo 
 
 per week, wouldl)© . ..ov.... ..w — ... .... £ 76,140 , -a— 
 
 LeSs working expenses,.... ,..,.*.-.....--- 37,679 , ■ : 
 
 Nett proceeds.. ..:.^......-..,X 37,570 37,670 
 
 Iieftving a deflciency on payment of iutepest aldno ........ X 11,408 
 
. ,'i 
 
 21 
 
 Enminminl tho nttn of £10 j««i- inlte pr wi^.k. £'2ft,'2'20. wwAl 
 •h«w » il^ficit or Xaa,7fi« III \m)nimi yT iUU;r««l uii U.rrwW«H» «;«|il- 
 
 ul •"•ly ! I ' . - - I r. Jl -^# 
 
 lk..i.lliol.l.T»., l.-.k at tl.w! City Coiiwil ••f T.»rrtMto i»n.l r.n«y hf 
 
 BimcHs I.N.k «t Uim! ll»<<'i.»v.ti>s win. i*' iiiv-.ll «.. O.mihU' "« t^''^ 
 «.your, I.H.k at thw ! AimI tlun iwk )..il«»lvw tlw M''«»«|"»— /^ '"'"""'^ 
 mmiM ol y.ni otiu'lit ""t to lm\.' Iia.l a v»u#ih lli.- M.'l.rti.Mi nt 111.11 to 
 whotii w .oi.tl.l.a tli.» iHm.r «.»■ iimkiiij,' y'«"i« "ittnl'iiUuiw worth *..»•«- 
 
 tltintr or iiotliiiix ? ' , • >• ^ 1 1 _ji 
 
 I HJiall pay my '**P''t* f<i von H«itin u\m Vm mbyi-^, tvhnt I wttt 
 
 by Uifuru you noiiuftliiiig of «till rintlK-r iiiloii^t aiul iin|H.rtai.i-f. 
 
 k BUAUIfJlOLDKR. 
 TcImhUs 8th January, 1863. 
 
 ♦ 
 
 m- 
 
 \ LETTBIl VI. 
 
 foihf Editor 0/ the Patriot: L 
 
 Bii— III >ny fonn.T HO'tn ny>nn tho mlyn-i (||im Company, I Imvo 
 emlK)ai««l an.l"lai.l M\m lliu pui.iic wu-li Mat.-m^its aiul liulH, 111 fon- 
 nectionWiUi it« projih-ni*, aii<l tho pivwiit |H».ilioH of H« alla)ii«, ii-* roiilil 
 be nnwiwwl or oahnlhitcl uik.ii in tho al»*o)i..- ofMiii llial lulorniali.m 
 whiolL insUiaJ of Koanlotinly roiucalin;;. it wm m iiii|«TaUvo .hilv ot 
 Hum UirtvU)i>t» wlw ill.'uniHy iihHuin.'.l all uriiiaiJtlMvnt uiul control, to 
 have traukly and honwlly tnrniMlio.l to IIm! piil.li. . 
 
 For tho pnriKWo of nioro *'l.-.M>ly oxoinplifyinuf a«il otal.lmlnnji thctwi 
 utaUiinontM uial faetM, aiul tin* cal.-ulalionrt I Imvo tu«l.', l.iwo.l 111^.11 Hiuh^.> 
 information an 1 |k>«kc»w, I j^o now to tho mil.ji<l o« tho (.<)vbu!<mkn;t \t 
 OuARANTEB, With ft vicw to bU'w itM ojM'iatioiw aii.l ullmmto c'tlcct ui»ou 
 
 the intOK'HtH of STOCK-UOLDKBS ANO nONn-nOM)KKH. 
 
 ThiH Company KtaiulH in a jn^ition wiUoly .litloriwt to that of any 
 ottier which hm availed iti^olf of tho Govornmcnl Cfi«aranto<|, from the 
 fact of its havinj? Im-ch created and hronplit into exiHlMuo, under ciri>nm- 
 Btanc(« preiudiciftl to its lulvancemcnt, and do«tructiv«lof that couhdenco 
 irhich the enteri.ri»> itwlf nu-riteil. An. I it ih liow wHifjIit to b« nurtnretl 
 without tho aid of a shilliii},' of cai)iud, i.y tho DiiectoiM now controljinf? 
 its prwuped*. It wa« u»here<l into the worl.l on ciikdit : itH pr<ijja;sH lui8 
 hitherto been on oueoit: »M><1 cventjiifllyv "udt'r tho ].res..nt cinum- 
 Btance» of it« attains it will oV|.iro in th«* arum of ilw GoyernnK-nt, ior 
 tho Qovemmont Guariuiteo liufl akso paternally ostiihlishcl a »ystoui of 
 CBKDit for its-flnal ropoise. '\ ^ ' .. 
 
 For all prcjscnt ^unioBets thin ityRtom f »f oroiht may Kuiruo, ami pnssiM^ 
 it may be oft'ectual in pro.lueiiig what every one would wish t.) see, a 
 railroad tO), the north, opiuin),' a communiGation witJi ')»'.♦ vaM^ extent or 
 cotmtry, the value of which can only bo known and 1. . ...eio hy bucIi a 
 
 \ 
 
 ■^U> 
 
3 
 
 
 ■I - :'-^-mf~ 
 
 - ■',■■22 ^ 
 
 liiediiiia of ' iiitereouree. But, iu ettl-cdiig ihi^great object, certain con- 
 tingencies attach to the principle wliich tlie l^owrd of Directors have 
 adopted as the gixnind of tlieir procoduas perimim not much let* bo than 
 upon the Bcloction of a temjinus'at Lake Huron. 
 
 This Government Guarantee hjis already l»een mode Bub8er\ lent to 
 ihe attainrnent of objects and ends B»ibVer»ive of every principle of justice, 
 alike destmctivq of the spirit of enteq>rific that adventures, and of those 
 feelings which proinpt and inflnoiict! individuals or cpinmunitie* to aid 
 and encourage a public undertJiking, when its accompliahmeut will, un- 
 questionably be productive of gencrid good. ~ ' 
 
 Iu the month of July or Sejjtombcr hint, the contiSctors clahned to be 
 entitled to receive JG 100,000 of the Govertnneut Guarantee. The Qovr 
 ernnient withheld it, on the ground that the road had been so unscien- 
 tifically constructed as to justify the refussd to grant the Guarantee; and 
 the contractors were remiircd to maktj certain altettvtions in thewn- 
 struetion of the line belore they could become entitled to ret;eive it. 
 Nevertlieless, the contractors, for some kkabon or other, cherished 
 the hope tliat in the event of ifr. Morrison being appointed the President 
 of the Company, the Government Guarantee woukl be secured to them. 
 Under all tlie ciroumstances, Mr. Morrison, hiid reason to know 
 and feel that the votes of his fellow shareholderB in the City of Toronto 
 and the Connty of Simcoo would never place hun in such a position an 
 to be chosen President of the Company. A meeting of shareholders 
 had taken pl^Ca at whichTesolutions were nnanunously passed, declaring 
 in the most Un(Jualififitl temjp, a total want of confidence in thi9 then 
 Boai-d of Direction, of which Mr. Morrison was the Vice-President, and 
 that meeting declared its intention of applying to Parliament to amend 
 the act so as to enable the proprietors of the road to klkct Directors in 
 whom they could pkce confidence. At this meeting only was it made . 
 known that a Bill had been introduced into the Legislature by the Di- 
 rectors, without the^ knowledge of shareholders, which bill sought to 
 legalize acts dene under the assumed power exercised by the Provisional 
 Duwtors, as well as to alter the&calo:of voting prescribed in theoriginal 
 charter. By this alteration all influence and just power were taken from 
 the shareholders, the City of Torohto and the County of Siracoe, and 
 ■ the management and control of the Company's affau-s virtually vested m 
 the Contractors; who were tliereby enabled to crkate an overwhelmmg 
 number of votes,- whilst the City of Toronto and the Coimty of Simcoe, 
 with one kindred Ihousand pounds of stocky were restricted to but 500 
 votes each 6ne-ten«h of what the Conti-actors, under Uie amended act, 
 might be enabled to produce. 
 
 Why was it that the Honorable the Inspector General, Mr. Hincks, 
 Mr. Morrison,, and the Contractors, were so urgent and active in 
 endeavouring to procure to be passed this bill? ,From all that oc- 
 curred in the chamber of the Railway Committee, the promment^ 
 and active part taken by the Insiwctor General in aiding Mr. Mom- 
 son and the Conb-actors to carry thx-ough this bill, in direct q>position 
 
 
 M^\ 
 
 ■*m. 
 
\ 
 
 23 
 
 f^' 
 
 -,.,,(■. 
 TO TIIK PETITION OF -irilK SHABRIIOtOERS TOKN i.YlSO I'PON THK TAULK 
 
 1 or THB CoMUiTTEK, Hiul in violation of those fij^hte whi<h wcro gunran- ( 
 toeil to the l^ninicijialities and.HliaivhoiderH at the time of PulttHTibiiifj for 
 stock ? No other concluHion can l»o arrived at tlian this— the Contn«torR 
 were to bo placed in a jxx^iticm to cknit such a board of Directors m- 
 wonld secure to Mr. Morrison th«i Prwidcni y, tobdly rfi/nitUoHs ami 
 jrresiwctive of the interests of sharelfoldors, or of ratepayers. The 
 - Inspector General had, or lie exorciscf the power of withholding 
 tlie Government guarantee. The aniend»<l bill w.-w ena('t»-<l a law- . 
 Under this law t)ie eontraetors use<l a power which enablinl tliem to se- 
 lect such a Board of Directom as Mr. Morrison chowt to di<tiite, and thus 
 lie liecame President of tho Coinpany ; whilst the deluded projtiotors 
 • stockholders, and bondholdel"»— the deceived! and |»etrayetl rntepayem of 
 the City of Toronto and the County of SimccK', are left to wojider at tho 
 result of their enterprise, in which their l»est interests- are enibark(!tl, and 
 TT which interests are now Mibjeited to the control and'matiagement of 
 nereons who have only arrived at huch a p<*ition by subverting and de- 
 . .^Htroying that legitiinato intlu(^»ce which sijch interests in all other similar 
 ,i^tMi880ciation9 always comiiiaml, bn^ which is never used for the mere ag- 
 :',:, ' grandizement of an individual, to the exclusion of every considemtion for 
 the general benefit of proprietoif^ ^ the prosjterity of the undertaking. 
 
 There is associated with the Govkknment gitaiiantke» an idea of secu- 
 rity of tho most delusive clmracter. It airries with it a sound that channs 
 and deceives the ear, and huluces a Wlief that come what will, the roml 
 " ' which is so fortunate as to Obtain it, must bo an investment secure beyond 
 allothere. Look at its practical operations upon this Company— calculate 
 r the ultimate results; and having arrivetl atthe only legitimate conclusion 
 ,,/ which can be drawn— consider whether tlie Government guarantee is 
 a BOON, or a curse to railroad enteipriso '—whether tlioee Companies 
 that avail themselves of it, will derive any essential advantages^? or whe- 
 ther it will not effectually destroy the proprty of the proprietors, and 
 render valuelejp the investments of Bondiiold4r§ ?— and wliether those 
 Companies that build their roads without the aid of the Government 
 guarsmtee, and consequently are not 8id»jectod to the control of Govern- 
 ra^t, or to the machinations, schemes, and intrigues of political mendi- 
 cants, will not be the best and most stable,' and constitute the safest in- 
 vestnient for capital ? 
 The conditions upon which the Government guarantee w extendetl to 
 
 /railroads arej— , , , 
 
 First— That when and as soon ais one-half of the ostimatcd cost of 
 the Hne of road shall have been expendcnl by the Company in its con- 
 struction, then the Government will guarantee the bonds of the Company 
 to be issued for the other half; so that if the first half . has been bujlt 
 upon an issue of bonds bearing interest half yoariy, the second half will 
 • be built by bonds guaranteed by Government, also bearing interest; 
 
 thus saddling the Toad with an accumulating debt, payable half-yearly- 
 Besides this, a sinking fund of three per cent must be created and 
 pmd in h^t^early, for the Uquidt^ion of the debt due the Government, 
 
 **l 
 
 / 
 
■-.v- 
 
 i24 
 
 .. this six por oont. iuterest, artd tliree per cent, for a sinking funil 
 njUHt 1^ paid Ix'foro any fnntion of the revenue or tolls arising from tlie 
 road CQn be otlun-wise applieil either in diviilends Ui proprietors, or for 
 int^^rert to hontlliolth'iN. » 
 
 Skcondm' — It iH pioviilcil that the Goverhniont sliall hold a first 
 MORT(»A(!K u|M)ii tlie roiid, ami tipon the property of the Company, as a 
 security for the amount liuaiantecil, or :iny Hiun which tl^||4xp^'crnment 
 may he r('<|iiii't'd to pay as interest tin'icon. •' Jj^P'' 
 
 tiUHOLy— In case of default on the part 'of the 'C!oin|ii!|j|; in paymg 
 any ]>ortion of the interest ;w it lieconies due, or ^^^|mMig fund, iu 
 stipulate)! for: or in ca»o of niKSATirtb'AcTioN on th*Jt<^||pfthe Govern- 
 ment, the latter may foreclose and take possession of tfiS wliolo line of 
 road an<l iiro[M>i1y of the Company, to the exclusion of all other claim- 
 ants. This hein'ij the Case, that all primary hondiror del>entures or 
 other securities issued bytho Company in payment to Contractors or 
 otlierwise, are wcvM-cil only by a clifim secorid to the Government mort- 
 gage: and tlie^ same principle apiilyinu; to the hi)lders of paid up stock, 
 iasuetl to the Contractoi-s, and l>y tiiem transferred tp other parties 
 in payment for land— sub-contract work, or otjier mattei-s, it follows 
 that all bontl>4 oV debentures of subsequent dates, issuwl for the purpose 
 of raising the means to complete the road, and constnict other work?", 
 will havfrfor tlieir security (*nly a third claim uj^on the road, which, if 
 terminating at an artificial hari)or, to be constructed at the "Hen and 
 Cliickens," will jeopardize its capaacity to pay even the annual interest 
 accming x\i>on the Oovernment fftraraiitee oidy. 
 
 Here is a picture to look ix\Km, which is anything but flattering to tfie 
 enterprise, or the expei-tatons of stockholders or of bon<lholders ; and yet 
 it is a true portrait of the position to which the Company has been re- 
 duced, when its features are unmasked and laid bare. 
 
 ' A SHAREHOLDER. 
 
 Toronto, 13th Jan., 1853. 
 
 XETTER VII. 
 
 To the Editor of tJie Patriot : 
 
 SiR^ The gentlemen to whose care the Contractors have confide^ 
 
 the imporbrnt trust, of wntchiiig over those interests, which shareholdeijs 
 and ratepayers have embarked hi this Company, veiy recently twk it 
 into their heads to exhibit their skill in exploring the coast of/Lake 
 Huron, ostensibly with a view of selecting a locality which would afford 
 a good and sufficient harbor, at which to make a terminus. 
 
 Elated with a position, to which fortuitous circumstances had elevat^ 
 them, the* modestly fancied themselves possessed of all those qualifica- 
 tions whilh are necessary to enable a party to judge aiid detennine upon 
 ti matterqf such parfunount importance. . 
 
 ■# 
 
ss 
 
 .# 
 
 As wdlteight honost Jack assumed to b$ skiHed in all th« cunnfof 
 of legal lore, and enay to exerciso nil the tortuous scheming, anu 
 bhioanery of ft pettifogs^or, or, venture a competition in trade with a ven* 
 <ler of Bjho:i, Uura, and Sugar, — versod in all tlie inyftterios of th« 
 grocory trade, as the ni inufu'.'tunn' of railway chairs, or the quondam 
 c/n,()tWc, attempt to te-ioh Jack to box tlw Comnass — or try to combine* 
 him, that there is no dariscin' upon a rocky loo hIimv, or in t.-iking hif 
 vessel into a position wln^re she inilst bo emuavkd, where even in fins 
 weather, a hefivy ground fWi.'ll si-ts in, and (;xpus(.'d to the worst galea 
 that blow-^and th(3 huivieit 6im of Lake Huron, uud lee siiouk oa 
 every side. 
 
 Were I to analiso the present B>ard of Direction, and cni^uiro into 
 thotr competency to perform a task which they presumptuously hava 
 assumed, and wore I to portray their m'ovenient'S and marvellous per- 
 formincos, I should bo constrained to dosignate them as "/«// grown 
 children;" and although this might bo somewhat amusing, it would 
 perhaps partake t<x> much of pei-sanalitj'. 
 
 But they as a body are public property, and they have MAoa tbeni- . 
 •elves mine. 
 
 Either iosorantly or wilfully they have sought to destroy my in» 
 yestments in this undertjiking.— Unliesitatingly they have presumed to 
 pronounce a decision, destructive to the interests of all concerned, and 
 . wholly at varianco with that determination, w hich knowledge and ex» 
 perienco would have produced. In all ages, and in all climes it liaa 
 been acknowledgedged, that " Fools rush, where wise men fear to^read.* 
 
 Tho character of the stratification, to \ise a geological figure, is some* 
 tiiries ascertained by the Exrvi.« of the fossilized animals tho i-ofck con- 
 tiins, and tho character of the stoekholdera and ratepayei-s of tho Citv of 
 ToRosto, and the CocS'tv of SiMcipE, niay hereafter be illustrated by 
 Bpecimons of the present Board of Direction; which might a(:lvnnt»ge< 
 ously bo preserved for some museum of future days, to aid the speculations 
 of the curious. Not that the things themselves are " rich 6r rare" — but, 
 they will servo to explain why this enter[)ri3e became profitless to stock* 
 holders and bondholders, and a dead weight upon ratepayers; who will 
 all perceive, wjien it is too lat<?, that this road inight have been made ft 
 source of revenue to the proprietors, and gf wealth to the City of Toronto. 
 . The decision has been made, that the road must terminate at .the 
 *Hen and Chickens." Against thtit decision I take an exception ; 
 and on behalf of my fellow shareholders, protest against such decision, 
 and refer to tho judgment of disinterested and reasonable men,— 7nien, 
 who read and think, and enquire, and can judiro for themselves. If this 
 be a tribunal to which these Directors, are willing to appeal, I will bow 
 to its competency, and venture to anticipate, that the judgment which I 
 have presumed to advance, as to the construction of a liarbor at tb^ 
 *Hen and Chickens,*' 'wiH be affirmed. ' 
 
 The perigrinations of these savans to tho Noktu is heralded to tho 
 
'%;; 
 
 :\i»» 
 
 imblic with a pamdc, not unworthy an.expedition to the Arctic regioiM* 
 Kn^hof the noblo Franklin t whilst at the same tnne they proclaim 
 t|e¥total ignorance of .vhat the line of road w,« intended to accompUah. 
 
 With an awuranee peculiar, we might Bupposo, to the modc«ty of tlw 
 Wembers of the Pickwick club, they seek to obtain that c'-^'^'t/'O'" * 
 SS public,.d«o only to those who have originated some vast etrte^ 
 K Bur^harged with intold good, and conferring uiK>n their fellow 
 men sotne great and lasting benefit. 
 
 To their minds this e>;pedition appears to carry with it an idea of 
 JShh^adventurous and no doubt it will form an epoch, m the cvctl 
 
 of their existence. , ,i \ 
 
 Thediscoveries they have made {miqvc»tio,mhhj they were m fothftny 
 were as\ell known to hundreds of pople hf « '^ '«>»f ^-^^ f f? ^J 
 Uie city. These Directors could, witUt lea^.ng Toronto, l'«verecened 
 Hiore icurate infonnation relative to those localities than ""Y on« <>f 
 Er party can now me. The solf-laudatoiy and comphmenta y 
 Sh?™^^^^^^^ to the other on the shores of Lake Huron--the 
 e^onious appellations, whicl.modestly ^^^^^^-^/^l^^^'^f^;,^ 
 coeret^ they applied to places which; lor over ImM a century Imd been 
 ^U known indir other iames; all might have been P^^^^^f . J*",^ 
 wWi equal utility to the public, and benefit to the road and cetaraly 
 wmidTn that Le have^.ved them from the contemptablc posiUon in 
 which their picBumpfion and rediculous vagaries have P!«<^«d . f J"' .;* 
 thev desired to enjiv a picnic party, or h.dulge their juvende fmaes 
 Zlhyma vayagL, ami imagining that they are making ^^'b^o^"^ '" 
 SeVrctiiH^gion., lot them do so at their own expense, l;"tj»;Wle ^* 
 the^Company with the needless cost incurred by the frivohUes of these 
 fulfgrown children. t, i 
 
 The useless chiiracier and absurdity of *heir proceedings maybe shewn 
 in a few words. Thev arrived at the " Hen and Chickens," and perhap. 
 Ttrfli^t time in their lives, lookecl upon Lake Huron. OklBonEAS 
 happened that day to be in a pkcid mood and smi ed upon their baby 
 JkST^niey pulled out "a short distance f ^ 1««^*'? "1^" ^^^ ^-^^I 
 5hey pullS ti the island, and looked upon the shore from A^'' ^ '^^ 
 The whole of the vaunte<l exploration occupied about Iwo Holkb ! .-- 
 Ky met in solemn council U gravely arrived at U^^^ 
 the Lbor was an e^icelleiit one, and assigned to their « SENIOR mem^^^^ 
 
 the distinguished honor of giving to t a name. "« P^^^JJ^J 
 -Collingw^ood." Henceforth be blotted from the maps, the old and 
 WEtL KNOWN appellation '♦Hen and Chickens. . 
 
 Thfebrightclearwaters of Lake Huron, then calm, would Wj^^ 
 mitt«d thSo experienced and adventurous explorers^to have ^H«^ "F" 
 the rocka and boulders below, constituting a ground which ^^f^^^f^ 
 l^k to shun. Had they looked to the North by East they woukj have 
 . ^ctKr";,ng and da^^rous reef; stretching away "^-'^'^Sf 
 Wruction to the vessel ventunng its approach. Had thej exercm 
 
 •• ''* 
 
27 
 
 :•• ''*■ 
 
 Ordinary reawning powcra, thoy would have come to the eonclumon that 
 •B unbroken expanse of. Lake, for ojod hundred and fifty mil&t, must 
 bring into the NotUwasnga bay, whotlier from the North- West, North, 
 or North-East, a very heavy 8*>a which would break upon the very 
 •hore, on which they Rtood. If they turned and loolctl towanU tlw 
 iSLANn.theywoukl understand that this could atlord mo ihelUr whatever 
 for festela, or protection to the harbor. 
 
 In a former letter I have Hhewn that this place, knot^n as the "Hen 
 Jind Chickenis*' is situate in tlie bijrlit of the bay of Xottiiwasaga, and 
 affords no fjicility for b<>inij constituted n safe, conimotlioiis, or securo* \ 
 harbor, suitable for the extensive marine of the Western La kes. Ou t^id o ' " 
 of it, there is no anchorage, even where it safe to coine to anchor; and 
 a 8IM0LK (^TEAMKR of thf> class navigating the Western Lakes, could not 
 lay in safety, even thou;;h she might bo enabled to enter it. To render 
 it at all available for any craft, eveii for a fishing smack, piers of tha 
 most expensive character must l>c construct^xl ; imd the very danger of 
 vessels approachin£j> these piers, with the h.'P.vy sea that pets into this 
 bay, and with the knowlof Igo tliat, unless the opning between the pier» 
 can be fairly made, it is ckutain biiipwbeck — will prescribe it as a ponr. 
 Why is it that_ these Directors have resolved to make the terminus at 
 a place like this, involving a most seriously outlay and certain destruction 
 to the interests of the roail ? Wliv is it that they have not once alluded 
 to the magnificent and unexceptionable harbors of Pes-etanocishesb 
 or Hog's JJav, neither one of which would require one shilling of outlay, 
 and never one farthing for repairs ? The distance frt>m liarric is alx)ut 
 the same as to th<3 "Hen and Chickens." The line of road to tlie latter 
 is comparatively level, and a large margin will consequently be left 
 for prolit to the Contractors at the contract price. A line to either 
 of the first named bays would pass ovrr a broken country requiring 
 some heavy and expensive cutting, which would not leave as large a 
 ' margin for profit. But, perhap8,^the most potent reason for going to 
 the "Hen and Chickens" is, that, unless the terminus be made there, 
 the speculations of a certain director will be to him "w» chateau en 
 JSepagne." \ 
 
 The Company has a Chief Engineer engaged at a large salary 
 Let him be directed to run a line to the "Hen and Chickens "—let 
 liim make a report upon the so called harbor, shewing what number 
 of vessels of the usual tonnage that navigate the Upper Lakes will bo 
 able at one time to lay together in such harbor; and describing its 
 position as rtgards the possibility of constituting it a harbor; let him 
 prepare his plans and estimates for its construction; place the wMo 
 responsibility of its construction upon him; publish his reports, plani 
 and estimates to the world, and let them be open to public criticism. 
 •—Obtain from mariners on Lake Hftron, their opinion as to the fiossi-- 
 buity of constructing a safe, secure, or eftmmodious harbor in any pxn'i 
 ofjHK Nottawasaoa Ray.— Let these Directors do this, and the 
 public will judge how far they have faithfully performed a public duty 
 
 .. '^-X'. 
 
28 
 
 
 Had thete prelioninaiy iteps been taken, in cbnforniity with the 
 practice of all other companies, and had it appeared that the "Hen 
 and Chickong" could be made a buperior harbor to any of the others, 
 then would the Directors have teen justified in deciding upon that 
 point as the terminus of the road.— Then would I and others havO 
 bad no reason to suspect the integrity of their movements. 
 
 i A SHAREHOLDER. 
 
 Toronto, Jan. 27, 1862'. 
 
 ■ir 
 
 LETTER VIII. 
 
 To the Editor of the Patriot: 
 
 Sib, — I now proceed to direct attention to a vatter of vital im- 
 portance to ,the interests of all concerned, and not undeserving the 
 serious consideration o^ the public generally. As Mr. Morrison, 
 styled the President of the company, is a lawyer, and I am not, he 
 wiU be able tj> set me right in the matter, if I am wrong m what I 
 advance. „ ( 
 
 In tlie first clause of the sixteenth section of the •'Railway Clauses 
 Consolidation Act"— a statute which' now guides and governs all 
 ndlway companies availing themsclvesofthc government guarantee,— 
 it is especially provided, •♦ That no person shall be a Director, unleae 
 he be a Shareholder meninfy stock in his own rif/ht, and qualified to 
 vote for Directors at the election at which he shall. be chosen a Di' 
 rector." Yet in the face of this enactment, known and understood 
 by Mr. Morrison himself, the contractors, by their questionable powers, 
 packed or made up, as has been shown, a board of direction at the 
 dictation of Mr. Morcison; which board of direction afterwards elected 
 - bim President, when it is notorious that he was not qualified to vote, 
 and did not vote at the last election of directors. In such case I pro- 
 nounce, and the law will pronounce, that Mn Morrison is not duly 
 elected a Director, according to the statute; and, consequently, that 
 he is not legally the representative of the sharcholdtrs, or of the Bc^i^ 
 &i President : and that every act, matter or thing done hy him in the 
 capdcity of President, \% unlawful, and in ho way binding uppn the 
 company, or upon any parties having transactions with the cottipahy,' 
 whether by negociations, contracts, bonds, or Otherwise. 
 
 There arc also acting upon this Board of Directors, two other par- 
 ties, who are absolutely disqualificfd to hold the office of director, by 
 two several acts of parliament. By the 30th clause of the Act in- 
 corporating this company, and likewise by the eighth clause of the 
 sixteenth section of the '' Railway Consolidation Clause^ Act," it is de- 
 clared, *♦ That any person holding office, place, or employment^ oi^he- 
 
 ^^ 
 
kv««"».;^ 
 
 29 
 
 the 
 
 Hen 
 lers, 
 that 
 tiavd 
 
 ^^ 
 
 \ tta- 
 I the 
 rison, 
 )t, he 
 hat I 
 
 auses , 
 ns all 
 ;ee,— ' 
 iinless 
 led to 
 % Di- 
 rstood 
 )wer8» 
 it the 
 lected 
 ' vote, 
 I pro- 
 duly 
 r, that 
 HM 
 in ike 
 9n the 
 ipany,' 
 
 jr par- 
 lor, by 
 LCt in- 
 of the 
 ; is de-. 
 
 ing eoneerntd or inter fled, in any eoniract under, or mth the Com- 
 pany, if incapable of being elected a Director. In (he face of these 
 Acts of Parhament, the contractors have placed two of their serf ants 
 ■ upon the Hoard of Direction. Hence wo have a Hoard of Director* 
 appointed and elected by, and under the controul of tlio contructors, 
 two of whom are inelegibic for the oflicc; and a Pr<;Hident made so m 
 direct contravention of the sUtute, he not being qualified to vote at 
 the election at which he was chosen Director, therefore not now qua- 
 lified to act as a Director, much less as PrefidenL 
 
 And all this is sanctioned and ,8URtained by the Direclors of a cona- 
 pany rejoicing in the imposing cognomen of "The Ontario, 8imcoe» 
 ^ and Lake Huron Railroad Company," and professing to wield a ca- 
 paUl of £760,000! Can the citizens of Toronto, and the ratepayers 
 of the County of Simcoe, under oircumstnnces so discreditable as these, - 
 be surprised to perceive how shamelessly their best interests are set 
 at defiance, and how recklessly all faith with the municipaliUes is 
 biokea? ; 
 
 If in the constitution of a Board of-Directors of a public company - 
 BO little regard is paid to the integrity, spirit and intentions of an act 
 of the legislature, what in the slinpe of equilf or justice can the pub- 
 lic look for or expect from parlies who can thus wantonly lend tl«m- 
 selves to a violation oCthe statutes of tho c0mUry, either from motives 
 of a corrupt or selfish nature, or others Which may hereafter shew 
 themselves. And here let me ask an important question-— Have they 
 not by this non-compliance with the provisions Al the " Consolidated 
 Railway Clauses Ac^" forfeited their cliiim to the government gua- 
 rantee, upon which the hopes ot the contractors were concentrated, 
 and which they have evinced such anxiety to secure? Or v. ill tlie 
 government also violate the statutes of the country, and accord to the 
 contractors this guarantee, which the laws of the land only Artno- 
 KiSB the government to grant upon the fulfilment of the conditions 
 dttrf /jromocs stipulated for in the act referred to? 
 
 If the municipalities that have become subscribers for Ike stock of 
 the company— if the citizens of Toronto, who have also subscribed— 
 if the ratepayers, each one of whom is more or less taxed to pay the 
 yearly interest as it becomes due upon the £100,000, which taxation 
 most continue during a period of twenty-one year^ and they (the 
 rkepayei-s) must be farther taxed to provide the means to pay the 
 £100,000 to redeem the bonds issued.— If all these parties are con- 
 tent and willing to submit to such a degrading i>08ition as this, allV 
 power, or even a voice in the management of a work in which they 
 have cmbarkcil their funds taken from them, and vested in the hands 
 ol those whose interest is riot the int<};rest of tlw municipali ties, the 
 , stockholders or the ratepayers. If th<ty are content to behold obiects 
 of general good blighted by the mismanagement oC tlvose who liave 
 other objects in view— if they are willing .to subniit to such an out- 
 rage upon all propriety— to such a violation of the spirit and prin- 
 
 '! •■■,■ 
 
 ■:'■:. -il 
 
■ ■ 
 
 !■• I- 
 
 ';> 
 
 "■■■■. 30 
 
 cIplcB of nn net of Parliament, and the iiiteffriiy with which it ought 
 to be enforced, then it is in vain for an individuol humble ns myHelf, 
 to raise a voice in the exposure of such nefarious conduct hnd pro- 
 ceedings, wliich no iionourablo body of men would dare lo pursue. 
 
 It m.iy perhaps bo said, that the public have little or nothing to 
 say in the matter, for that u very considerable number, if not all, 
 of the original shareholders (uiidcr the provisions of the Amended act) 
 are withdrawing, or seeking to Avithdraw, their moncy^hich the* 
 had poid in, And cancel their stock. In reply it may be urgcd^^that 
 every ratepayer who contributes in the shape of taxes for the cdrs 
 Btructiortof this road is virtually a shareholder. Besides, there ore 
 otbers«rho cannot relieve themselves from t,huir position as stockholdem 
 by virtue of the amended act. There arc many who, actuated by « 
 desire to promote this enterprise, and induced by the fair representa- 
 tions made them, have accepted in payment for lands sold the Com* 
 pany, and for work done upon the road, the stock of the Company. 
 AH these parties hold shnros of the Company, nil instalments being 
 paid up in full, and hold their scrip, for stock thus paid up, in respective 
 amonnts of from twenty pounds, up to thr'co hundred pounds. Such 
 parties have or ought to have not only something to say, but something 
 to do in the matter, prior to a Rinf,'le word from Uic so called President, 
 so long as ho holds his present equivocal posuion at the board of a 
 Company to the capital stock of which ho had paid the marnificent 
 sum of £12 lOs, and for what I know to the contrary, has not since 
 contributed any fortlxir aaiount. The books of the company, were 
 they accessible, would prove the fact, 
 
 When Mr. Morrison has disentangled and rplcased himself from the 
 questionable position in which he stands, that of being the minion of 
 others, it would be well for him,^or for the contractors,°or for \*hom- 
 soever ho may bo acting his.pnrt; to advertise the public of the fact. 
 Under existing circumstances, and overshadowed as these circum- 
 stances are, by a cloud of mystery, accompanied by such" a peculiar 
 tfombinati^ of events already known to have occurred, nny transient 
 gle^m/or»Aa«foM)/n/7 a brightor day, >^ll be hailed as n god-send. 
 Untd this has been experienced, little confidence can be placed in a 
 company whose Directors are so lamentably wanting in the impartial 
 discharge of those duties which they owe to the public. 
 
 What a pretty '4cttle of fish" have tlio contractors scn-ed up in 
 ihe composition of the present Board, for thp gratification of tlieir own 
 appetites, regardless of the palate of the public, who* have always 
 *omethin,g more or less to say in a matter of this nature I The con- 
 tractors, in their anxiety to escape a dilemma,,' have jumped, '>ow/ 0/ 
 the frying pan into thf-fire," and well will it bQ for them if in the end 
 they do not find themselves pretty well scorched. Against the possi- 
 bthtyof this, however, they had timely ^and/ sufficient warning, and 
 the neglect to act under each warning must/ be placed to the debit 
 
 '■\ 
 
 
 y 
 
 iiv 
 
 'r- 
 
 ■■t^-~- 
 
•\ 
 
 ;>v 
 
 f 
 
 ; . . 31 
 
 ■ide of an nccounl which it will be fprtunalo for them if they do not 
 regret ever having opened in Cunodu. 
 
 Havinff now placed before the public the p^cuHar ponilion in which 
 thia company i» Bituuled-thc manner in which .t has been brought 
 Into iia present »Utc of ihrnklom, and the difllcullkH by which u la, 
 aurrounded in iu coward progress; and shown it to be steeped totho 
 chin in debt, Jay fty du!/ acanniituthxj ; and launched upon n sea of 
 troublq. wilhout jj compass to steer by— controlled and managed by 
 bv a body of Directors, (not the guardians of the interesUi oJ stock- 
 ' holders, but the servants of the c.ntraclors) who manifest their com- 
 ■ petency for such u pasition, by determining to construct a harbour at 
 u locality, (I do not hesilutu to write it) one of the most objectionable 
 that can be found on the const of Lake Huron. 
 
 Any outlay that may bo lavished there, will never constitute such 
 11 harbour as will induce shipping to frequent it. IheMIen is aa 
 island of some live or fix acres inextcnt; tlio •' (n.ickens" uro rwks. 
 ■omeclovatcd more or less atoVe, others nrc sunken below the level 
 of the lake. These "-JhickenJi" arc n very numMoud and crralic 
 brood, and are met with in alWirections in the vicinity of the parent 
 " Hen/' and also ihe so called harbour, aud "''-' f^"'»l sti^Wn^ ''f 
 out into the deeper waters, where they lie concealed from the land- 
 lubber's eye; but the sailor espies these treacherous cmUks; he 
 knows mi there/ore hnrs ih? dangers of such a ijeighbourhood. 
 They will most assuredly, ''protect;' in the enjoyment of its primeval 
 Bolitude, the quiet harbour with its expensive piers, from the intrusion 
 of a bustling marine and noisy steamers, although these should brave 
 all other dangers in seeking an entrance. In conclusion 1 repeat, 
 that there i8°.o ifail road, at present projected, which will pay better 
 than this northern line, provided its management be confided to par- 
 ties who are sincerely and honestly interested in its success. 
 
 And now. Mr. Editor, I beg respectfully to tender you my best 
 thanks for the kindness you have extended to me, m opening your 
 columns to my letters on this important public subject ^ Ihcy have 
 been written with a view to the public advnniagc, and if producUve 
 of any cood.I shall be gratified. I have not attempted to direct at- 
 tention to the manner in which this road is being constructed, as rc- 
 Itards the grades, the curves, the bridges, the eulyerts, or the mate- 
 nals used. These have occasionally been publicly noticed by other 
 parties. In reference to this subject, circumstancea may require mo 
 iipon some future occasion, again to trespass upon your indulgence. 
 
 , A SHAREHOLDER. 
 ■T^ioj^thFeb., 1853; / ' ' 
 
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