Canadian Transport Sourcebook

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Canadian Transport Sourcebook > All works> 52 Questions on the Nationalization of Canadian Railways > Addendum

Addendum.

Regarding the statement herein that the actual net earnings of the C.P.R. represent a surprisingly small interest per annum on the investment the following excerpt from Lord Shaughnessy's address at the annual meeting of the shareholders in May, 1918, is interesting. It reads:

"The highest dividend paid to shareholders from transportation revenue, namely, 7% per annum, is only equivalent to 2¼% per annum on the cost of the railway system, and if the dividend of 3% from special income be added, making a total of 10% per annum, the distribution is less than 2½% on a conservative valuation of the company's total assets."

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