(Reuters circulated the following story by Allan Dowd on December 28.)
VANCOUVER, B.C. — Canadian Pacific Railway Ltd. brought in about C$3.8 million
($3.9 million) more in revenue from grain shipments in the last crop year than allowed, a government tribunal said on Friday. Canadian National Railway Co.’s revenues were within the caps set by Ottawa on how much money the country’s two largest railways can earn from hauling Prairie grain to export ports, according to the Canadian Transportation Agency.
CPR’s revenue from hauling regulated grain in the 2006-07 crop year was just over C$437 million, while CN Rail took in nearly C$417 million, according to the agency, which has been administering the revenue caps since 2000.
Canadian Pacific will have to pay the excess money, plus a 5 percent penalty, to the Western Grains Research Foundation, which provides research services to grain farmers in Western Canada.
($1=$0.98 Canadian)