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l ow 3 '..-- C e f > mt A C ud m <itulsbClie ---- Sm O J * > n M p rig tC '-'}""""'--"1--'";1 es,afi j that he saw no reason to change the tes\ « Co. were well known to e C Montre , af 1.8. These were :':'.' a x _| opinion he had expressed. On Déc@eM--| | panror and broker i having tenfold the\ last record, at I96 +0" °/ (_._, of securl-- t 3 ber 8, after his return to Canada, ht| |rnowledge of any other firm Of these academic questions, (:'t:. fi.::?lotn- His | i _| had received another letter from Coate®,|~|matters, -- It had been their practice to | ties most akin ':nt transaction in the | Son & Co., in answer to' his last, saying| |pave one member of their firm traverse | (the speaker's) es at four per cent. _' that when the time arrived they would| |Ganada from one end to the other every |temporary 1089 *5°,"/ p joy gent. _ If \ _ be obliged to take any steps that migl!tl \year, making himself acquainted with | The .rengwal w't:m it was bettered one-- § be necessary in the judgment of the{t' the conditions of the country. 'The | within 81X mog; could be seen they were C legal advisers for protection of theit; |pon, gentleman had iblamed him for bind-- half per cent. 1 iJ mss terme of par for £ a interests. | | ing the Province, yet he argued, and the ra,pldli' coi!:;;ngbonds His bhon, friend e\ A { n( 3 ip hi '_l'emis anm y C d \ . Contes & co's Claim eegantonal stenns ie 5* [Romg eanle (hegrercnent se hests ® 4 1 x , A few days ago, Mr. Matheson con-- | a Ino member of the London firm | C ',;, tinued, Mr. Hanson, the scmor,}actmg What the Documents Will Show. "he reached London, ; n & partner of Coates & Company, who WA! He asked that the documents be plac-- iti s ' ; _ in Toronto, after an interview w!"' the ed on the table. They would !:hm\r ]that The Opposition Chgrge harged -- chiefly ; Premier and the Treasurer in _"® |fgno negotiations were to be conducted wWhat the.(}ppos:tmn 'c y g-f ihe PFO-- ~ $ sponse to the suggestion of the former 9 . .__._, was dereliction on the 'Jl.lt o ve C ' _ to put the company's claim in writing. 'f"' the lowest cost. The ])r(?""-""'a'l;vinoial Wreasurer in baving . sold the k3 ' did so. It was received on March 28 Treasurer bad failed in his negotiations, ponds at.all." He should have renewed f & and signed Coates & Company. In ef-- 'and now sought to throw the blame On'the loan until an amendment of the col-- o : z22 fect it stated that in view of the fact i'.mneune else. '(nilul atocks act had been secured allow-- i * of the announcement that the perman-- | Mr. Harcourt stated that he had g({""! C # tfiem to be placed on the trustees o ent securities of the l'r.m'il'u'o had hml;n. ft" Coates almost altogetyer ut'thc mt-gl';:m_iw list or until the market was bet-- | [R sold through another institution, 1hc : ',st,g"c(:.()f Lord Szmtl.monu.(;.anada;'s gro'&:'rw'ter When the Ontario securities mounted z_ [firm claimed a proper brokerage under Ie.'s,t fnon.d and an llfustr}c?\s' !f;_la.m"lt')-;tu .pur. to 101, 102, 103, and, finally, 107, P |[ the former -- agreement. _ That, they i W"0 "_"':'":"'t';d his f""l:' pf;" lC 'l{'l ai]r;"w, how would the Provincial Treasurer feel C P ; thought, should be a quarter per cent. | a juntor partner of the firm. 1€ s & es that nine points had C of the face val f the lo: "That= | was a most reputable one, and one of! about it, knowing that . 8 k | sn id N\; .au;[?.qlu'(: . t")c".o!alu.b' 0"';(')(;0 t the strongest in London. He did not:gone into the pockets of the mlddlem(' 1 f Eor A\H (lu.m .]'lt']::-:-m:\"vro" t\,\l'li!(l'in«-L th:: 'im- | preclude the Government of which he: Mr. Harcourt explained }he loss of a TeW ; € ~ _ | ter 'sai.d in leave the 1)"(\\ti(':]') t", any | was a member, or his successors from|days' interest on the tirst transaction ' ¥ : _.@ ",'\\\'u i'anfidian i;ankvrs of repute, in case negotiations in the interest of the Pro-- referred to by Hon. Mr, Matheson as . 'of difference a third banker to be call--| YVince. "Negotisntions" was the word, and having been occasioned by an objection TeE led in as umpire, he had told Mr. Colmer, Mr. Coates and by Coates & Company to the form of % NP + \Mr. Hanson ten times over that as the certificate. 'This was owing to an acei : t tt ';Calls it Extraordinary. \ Province was to make its first mark in gent, There was some delay, and if 'fii_b BX 0i Mr. Matheson went on to say that | the financial world it must be at P&T--' there was blame at all it was due to % _ { when the Government were getting ten-- | The Attorney--General, if he were honest'some deputy who did not see that the; . ce ders for the sale of the permanent bonds ; to the House or the country, would _ Say |yoym was correct. _ Me recapitulated the | 1'"'? § in .-}lx'ii of last year they asked .~('\"(\rill ; that t]o;:()tiatiuni meant nothing. They| main points of his argument, particular-- | '4;". _ ; bank managers what they thought of the | had his assurance that every dollar must 'ly in regard to attempts to sell the -- 99 agrecinent. . Without -- exception they. have a hu.n_drm! cents. If Canada co"'d';l;onds before they could be put on the i ?;;"" "_w"' did not think it '",h"'"ld bind .;fl,l ?Nl,mt"'s when ""d(:r 4 deb! ]gifirustm. list. _ He advised the Govern-- & % :1];'1 p]x?s-,«»m' (.uf.m-n.nu-nt. ','r]lo.\'v .hzu'l 'vt(]n t\k duulu.l;.; a h(ad at 10lZ,t]O.']! 'fll.ld ment to correspond through the Secre-- aaam 0| old him that it was a most extraor-- {the knowledge was enough to have PC |;)_/ of giate at Ottawa and have the s _ dinary thing that any such agreement 'vented him from ever selling one dollar * W\ [ / should lHave been entered into, -- Lon-- of Ontario securities at less than par. |"¢* amended to that end, _ He asked | YE > c _|don financiers expressed the same views, | With all the earnestness he could com-- zh"" h'"f' fr"'f'd{" to rcl'a'd tthf:; »corn]';p()}?dt [ N jand said the Treasurer was justifiecd in'; mand he had _ wrepeated over and | CNCC when laid on the table. they ||||| |||, [refusing to be bound by it. "Why was jover again that no offer 'could be ac. | did not then see ""'"'7 he h"d. acted in an :0,.' 'it done * said Hon. Mr. Matheson. |cepted less than the equivalent of par. ',0"1;:?'""." prudent way he would aband-- | WO e | | "What consideration was there for this | i on is case, i %,«*\ | éagrgm:mont * And the lo.a(ler of the Op-- 'Wete Not Qntarxo Bqnds. f ppu es on ' ler Whi 's R k ;"s;r;":'l-;'po\ltlon' \\'ho moves th's a]]lend""\"t' { 'l{ut ll(' was th('n (llSCll\'\lllg lf""l"]{a' ,Pl'emle!' ltneys emar s- "'é" {knew of this. _ If he says he did not ; MMS bonds. ?ie was not offering On--| Premier Whitney reminded the House ' ';"-{j' s ;'I will accept his explanation." | tario lb.onds. They knew that \vlthout!t,lmt a few days ago Hon. Mr, Ross \\ | || Honm. Mr. Rosw--I did not know there | legislation of the House there could be |had remarked "Let him that thinketh 1::'* ';\\'ns such an agreement. _ This is the |no issue of bonds. Let Mr. Cartwrightine standeth take heed lest he Pail." {r., ,i'""f i knew of it. 4 s place on the table of the House copies !Since then they had heard various dis "_:"'1 "'143' f lren;wr Whitney--Why was it con-- ;()f the cablegrams exchanged, Mr. Har-- |sertations on Nemesis. _ When Nemesis| ies c jcealed 1 court suggested. Coates & Co. had want--|entered the portals of the chamber he! eb ; H.'m: yir: Boss----I do.not SUQiy tha.(, ed him to say he had authority to sell | went to the front benches opposite, lt [ /sM ... + i'{hc:c " ?;'yth:;'g'tn. {-mu":{\l. We have 'ponds, He said he had no bonds but._? was well known that the mills of the : ! (,Ill:)(:l\il'm\(I)at!l'I:'a;:f-':"fl);- hon, gentle-- :bn'nds of the railway, having the lm"'%g')d"' grind slowly. _ Few thought that -- n s .. umaemne'am i. 'Aois I | primatur, as far as could be, of the Pro--}jit was the late Minister of KEKducation . wl _ i |man has repudiated his colleague, t.m Y ines. -- My. Hafison "NXd thought thereiwho was A fro Aive * s o ihbon. member for Monek." He consid-- | _ _"* /' l o of but & Tle was \\0 was to 'be the h}at to meet Neme-- / s [ ered it 'a surprising thing Uiat the hon, | WAs tome way ollt of i!L, PuUL@ cable Wis ie and to fall, 1t was a matter of re-- _ | ) gentleman for Monck had not taken into f"'"'ut:,vtth(' tbht'nd Att(:lligc_::-\(::nle;;al is::'.?l- i;rle\t. tlhat, scenes su;h.t_ai 151"5 l5'llould s \ & ) his confidence the then Treasurer of the |JNg that no bonds co ver be given. take place in a free British Legislature. | < S . ]')m:.;m.p. 1;:,"_ Mr. Ross, or his col-- |He had placed on file in the department In the roll of British Logislatfires none _\ El leagues. in regard to an agreement which | & typewritten document, \\"hl('h, it was l{ad 'been. made the scene of such exhibi-- > _ J |had been entered into four months be-- alleged, he had concealed. That appeared tions as in Ontario owing to the conduct | | [E | fore the Ministry resigned. to be the gravamen of his offence. His , of hon, gentlemen opposite, _ 'Three m' x+ Mr. Harcourt's Explanation. suggesti_on was that a direct issue of t)'ears ago a revelat@n of conduct a lit-- o e & & Provincial (bonds be made, Where had |tle worse perhaps, and perhaps not, had t :.:. 0' % Mr. Marcourt said he '""l. l."'t'?"_""l his hon. friends opposite got the hint ? |taken place, and he hoped there would be JR 4| carefully to one of the '"(T"'t extraordin: | yrom the very document it was alleged |no recurrence of such incidents. -- For a iap| 4*X b'ta'tellwfltst' Fault had bcL'n fOllI'l'l |he had tried to conceal, Another of bweek past accusations had been hurled [ 4 with him 5y hhdhlo.",' "lllmd bega;m, 5* |his suggestions was that the issue be |@cross the floor on account of a trans-- se .:..~ had not informe uspo eagues of some | called the Ontario Government railway |action which had 'been approved -- b t _ flof the matters connected with the loan. | o i kr 8 tevere $ f 4 N# T-- et at th time Nis ! friend had bonds. It was believed that would en--|every banker of repute. in rotund ac-- 2s .: Neba i omcs shiet hn Te Mamoamen. !hance the value of the bonds, though it (tents they had 'been informed that it was W E/ told the HMouse that he (Mr. Harcourt) |/"'. > f |th in c . m ft in the 'It fer's Depart ' | might be well, on sentimental grounds, | the duty of the Provincial Treasurer to w .. had left in the ireasurer's DepartmeUt & |inat they should be given a name con-- foat the loan in Canada. _ While these _ I| memorandum setting out all the facts of | " i '«.||went! m z. . ° "* | nected with the earlier part of the his. |8Ontliemen with unabashed front--he P en the case. OUne of the recommendations tory of the Province, but in the hard--|might say with faces of tri w _ fPleontained in that memorandum had | °9*S fife of the oif Gov 1. P were telllug the G : of triple 'brass---- E* _ M been acted upon by the hon, gentlemen driven life d? f (tlg 'fL mernmc:lr'\h- eliing the Government to sell * _ flopposite, His hon. friend's statement name'(l. bOl(l)f t?nc:oi;:losinceorsh?l?]l:'comg bonds in Canada, as far as written agree--| 3 _ was to the efiect that he (the speaker) 980('1""_ l:i?e colonial act and be maile ;]lm;t could make it they had insured -- WR [|had entrusted Coates & Company with | UNCC* *"C iti o denied that ;.l'.;]a' no 'bonds should be sold in Canada. s« : k _ P certain negotiations. _ Somebody Rad to irusteo. SeutCes: S H C 06 a ta fl:e dat was the situation, and why grav-- :o _ [ be trusted to negotiate the loan. His | WA® tlecfi in 8:})' way "}dr't'ga"'f 'tot' i :\ tsat supreme on the faces of hon. *3 _ $ hon. friend the Treasurer had entrusted | 1921 A"GC, conl:n:ixlng, ?lbt le a{:i 1 'hat Sentlemen opposite, Nor did the hon. «./ CG _ [ the Bank of Montreal. in the very the Province had no debt should nave 8?ntleman attempt to dodge. "L made +o 4 ne Fead the wor finky enabled the Treasurer to sell its bonds Coates & Com y fev ~ _ [ statement he rea e words appear, and |® tt ic th Canadl w mpany believe the bonds ~ _A the "negotiation" was concluded on the |At * better ie thava, Th o cgane} ould be floated in Canada through | fi understanding that they were to give bonds, which were selhng-at 105, 196 or fthexr oftice, 1+ told them we would' 3 i the maximum price. _ What better could |°Y°* 107. . Ye drew his hon. friend's %",ant the highest price," was what they | «l\ a representative of the Province do than |notice to the last sheel giving the rates, i"ere told, + ce C t the maximum price at the mini which quoted Canadian threes at 102 1--4, | a $ e is ie t ui c o ) set xe: Meum (fwith no smies : reg! 'anadian 3 1.2 |** Maximum Pri i: cost ? -- My hon, friend inverted this and | with 1O 84!¢ ; registgred Canadian 3 14 M l | Wai gog the minimum price at the maximum at 101 1k'4' wifi" t?:."e.n t'*""&"";;lonfi in mi'ni';;ml;lnarmurt-.\laximum price and | -- ost, _ Why had he gone to Coates ? The |tw0 WeekS _ Af, 1c $3500,.000 abead on || Ufutes ,etiost are the words in Mr.. i B custom had the force of law in EnglandJ of Ontario _ $300,000 ahead on | Ees that all financial transactions should the present transaction. . Other trans--: Premier Whitney--Here ; th | | ; 59 h one channel, and one ch go' |actions mentioned by Mr, Harcourt were | | {"0m the hon, gentle Wevam mot ¥ in | theoug s % we ne channel! | : * j h --., . | conce i man,. We are not ; | He was driven to select R registered Canadian threes, five sales in rned with Coate 4 k ne. one firm . | us der he w es. 1 don't won-- ' two weeks at 98, 97 7--8, 98 1--8 and 97 5--8, ants um to disc ' c 4 ¢ gentleman--not '