Chronicle & Gazette (Kingston, ON), Jan. 1, 1842
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1842 KINGSTON CHRONICLE & GAZETTE
(from microfilm available at Kingston Frontenac Public Library and at Queen's University - Stauffer Library)
p.2 Commerce of the U.S. With the Canadas - tonnages etc. [Cincinnati Chronicle]
p.3 Respecting the Niagara Dock and Harbour Company, the Chronicle remarks that "it does not discount on loan, and consequently no loss can be sustained by the Institution in consequence of its issue of notes. These notes are issued solely and expressly for facilitating business, and the issues have been of greater benefit to the public than to the Corporation. The Dock Company is composed not only of some of the most wealthy inhabitants of the Niagara District, but some of the richest men in other parts of Canada are Stockholders in it. For every dollar note of the Company in circulation, they have twenty-six of capital, and as the stockholders are individually responsible it is not too much to say that if their affairs were wound up they could pay two thousand shillings for every one of liability. It could be only ignorance of the real condition of the Company that could cause any doubt of the goodness of its notes. The Niagara Dock Company is probably the most useful Corporation Canada can boast of. To it the Province owes the many floating palaces which ornament Lake Ontario, and give Britain supremacy thereon. To it is owing the retention within our own borders of an expenditure exceeding 70,000 Pounds per annum and as it is annually enlarging its profitable operations, and as the management of its affairs is in enterprising yet experienced hands, the Dock Company's notes may be justly considered as safe as those of either the Bank of Upper Canada or the Commercial Bank.
- Media Type:
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- Date of Original:
- Jan. 1, 1842
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- Rick Neilson
- Copyright Statement:
- Public domain: Copyright has expired according to the applicable Canadian or American laws. No restrictions on use.
Maritime History of the Great Lakes