p.2 City Council Proceedings - (part) "... Ald. Allen suggested that the Wolfe Island Canal Company be included in the resolution." ( to report to Council with a financial report of affairs, to 31st December last - because the City owned stock in it)
Ald. Armitage moved the appointment of a committee to enquire into the present, past and future prospects and affairs of the Wolfe Island Canal Company, with power to send for persons and papers. The mover had some trouble in procuring a committee, nearly every member declining when named, but eventually it stood as consisting of the Mayor, Ald. Allan, Flanigan, Brownley, Shaw, Coun. Cooper and the mover. Ald. Armitage said that the committee of last year, of which Ald. Allan was chairman, had several meetings, but, from a certain cause, could do nothing. Some were of the broad faith that the canal might yet be available for navigation with a little necessary expenditure. This would be enquired into by the committee. There was a vast deal of mystery connected with the management of the Company's affairs. When, in their investigation, they proceeded as far as the steamer John Counter, they found she blocked the passage to further knowledge. There had been offered for her 11,000 pounds when here, but this was refused; she was taken down the river and sold for 3,000 pounds, subject to the mortgages on her, in some sham manner that never could be found out.
Ald. Allan corroborated the mover's statements, and thought the enquiry important, seeing that the city have 2,750 pounds stock in the Company.