|1906||Annual report of the Department of Railways and Canals for the fiscal year from July 1, 1904 to June 30, 1905 (Ottawa)||Page 14|
Magnetawan River Railway Company.
This company was incorporated by the Act 1 Edward VII. (Ontario), chap. 83 (1901), with powers to construct a railway between a point in or near the village of Burk's Falls, in the district of Parry Sound, and a point on the Magnetawan river, in the said district of Parry Sound, where the said river is navigable for vessels.
By the Railway Subsidy Act, 1 Edward VII., chap. 7 (1901), item 22, the grant of a subsidy of $3,200 a mile, with a further subsidy of 50 per cent on average expenditure in excess of $15,000 a mile, the whole subsidy not to exceed $6,400 a mile, was authorized for a line of railway from a point on the Grand Trunk Railway at or near Burk's Falls, Ontario, to the Magnetawan river, not exceeding two miles.
The company having applied for this subsidy, a contract was entered into with them accordingly, on March 19, 1903.
During 1902-03 there was paid to the company the sum of $3,552.
No further payments were made up to June 30, 1905.