Finishing with the Old Regime, 1921-24

AuthorC. Ian Kyer
Pages149-161

Chapter
FINISHINGWITH
THEOLDREGIME

was being put in place, there had been much dis cus
sion of the takeover of the Toronto Railway Company’s (TRC) transit oper
ationsinandtheaccompanyingarbitrationTheCityhadthenbeenin
the midst of a similar arbitration with the old Toronto Street Railway Com
panyTSRanditwantedtobesurethatthearbitrationwouldbedif
ferent. It had sought to make it clear that the franchisee would not be able
to make any claim for intangibles li kelost f uture prots or goodwill All
that the City would be required to buy from the TRC would be hard assets,
and even then, only those that were needed to operate the transit system
goingforwardInSeptembertheToronto Star had reminded its read
ersofthesefavourableconditionsthatwereexpectedtoresultintheCity
being able to acquire the streetcar operation at a substantial discount from
fair market value. The City intended to take full advantage of these terms
— every dollar that they ended up paying to the TRC was a dollar that they
would not have available for the rebuilding of the transit system.
TheTRCwasequallycommiedtogeingfullvalueforitsoperations
notwithstanding t hese terms. Freed of their operational responsibilities, the
arbitration was now the sole focus of TRC’s management. These divergent
goalsmeantthatvirtuallyeverythingaboutthearbitrationbecameamaerof
controversy, starting with the number of arbitrators and the statutory regime
under which the arbitration was to be conducted. The TRC said that a single,
neutral arbitrator ought to be appointed under the Municipal Arbitration Act.

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