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Wines, from the tri.dt'ettttttG!, " .- . _ T T .. 5 ". . _ Wt Britain, and elsewhere. So the ,.(',tlitktHjrt,rt,tipttiijt,.,,ttttiis me' "if" c. .'. 1 Province must be. careful. to tdyes 'i".. _: ',"i.'ci'2 . _ _rrt'u'.ce4 (r /' 'i"'tt -. ' t investors the "summer that "C' f. ".-' l' . . Puma" Ontario WWW» the laws may be, the itidtitr. . "it ' . , v'itti wk! . _ A try would not be subject to unreason- d 11 _ can): £031 me n: millions of 'i' able changes and ventilating legisla- Po ars on: o e i2'r""g',t', or this ' ", i tion." . 5f,T/,'e', , a: (lo,, r; t to defy this 1 . In reply to Mr. Rowell. Hon. Mr. 2,",T/g,'t,ntf,,n said 31336 Cally (if Rt , l Ferguson said the date of the retro- _ . ' . owe , o ;_ I active legislation should be January, gee that. tthei hInteralatioiiafl Nifikel ll f anuacv. 1915. The, / .ompany urns es e n onus. on Tr _ lletstltgr tzgeigcferigal errgr in the bill. T so that a proper statement can be rs' i - r _ 2T made of the .rTolits' of the company. . . . i Probable Nickel Faxes. ;Surely the Nickel Company is not , Mr. Rowrm----What is the estimated lmoronpowcl'ful than the Govern- , taxes for 19.16 for tho international (ottent. 7 t l V Nickel Company and the Mend Com- .Companv's Great Proms. . , an r? i ' ' 1) Ryan. Mr. r't?tn,"u-ioii----hly hon. i The fAbera1 leader said the figures ' friend will realize that I l ill nm in " gin his possession showed that the in- position to give an :uwm'i'te estimate come of the International Nickel), at the present moment. The Miitis;-. (ii,i:1,t',r1,f,iva,tfi's,- for the first year the agree-I , ter added that Fill-Vin] considerations lrnent with the Government was in! . would have to ho lakvn into account 'operation, namely, 1912, after delur't-l , in the case of the Mono Cotrrurtr.r, ('(/'l, general expenses, but without de-. . which was nirin;r a large share of its ducting what they deducted in Newl revenue to the British Icmfive in the . York for depreciation, etc., was $4.-l Shape of "air tttrcs. 866.413. That was for the fiscal year! Mr. Psoweil---0ult Jill lion. fvirpnrl curling {list Blarch, 1912, and the, teu. us the "iitimutoet NIX "l" the In- figures' "Vere taken from the com- . ternational Nirkol Comp-(n!) " hanv's own financial statement. For ' Hon. Mr. Fcrgusov--- it, will in? some {1911; the income was $6,386,799; l . hundreds ot ihuumutds of dollars ili- 1914. $6,128,000: 1815, $6.713.000: ' _ (Tease. . _ 101b', $13,470,000. Mr. Rowen-"is it Hit?" lod the tax _ ' should be upon the not earnings of _Propcr Basis of 1""? 1 mtrt,eortutatty les:," tlv: "m m protltrc-. I "f submit that under the mining: . _ "ir.' , . V tax act the only fair way to arrive at . Hom Mr, Itoz'guson- Yrs. . the basis of taxation is to take the Mr. "WWW." 'lfr'fy.?"'""e xTitlt {\{lllle of the finished product less the. N the Commissions report} cost of bringing it to that state." said Hon. lil.. T?ls11s.oy---rrs:. the. "On that basis during the years; The Minister sa.id perhaps .me " have mentioned we should have been were some points ill the bill (liliioult i',. receipt of/venue many times' i to analyze. The bill would he revised lawn": "ah what we have, receivml,' , and reprinted for the committee '21": 1 submit that it is not satisfac-l l e. ltory either to the House or to the t Gold and Silyor Tau-s. leountry that the _increase in taxes : . .should be retroactive. only until 1916. - Mr. Psowell ugr'eeu tliat, 1'Vr"t'.N" Iegi- iThe International Nickel Company , timate encouragement should he should he required to pay taxes that i, given to the mining industry. lie new properly payable under the act q pointed out more was a difference in for the Years i812, IM3, 1814 and; j the various classes of mining oporu- lf)1.5 . f l tions carried on, and lion. M r. ll'crgn- . ("T-lie present tax so far as it relates ' son "orypt"t""i J"itlt tht "ryrivli.,: "A . to the nickel indUStry is inadequate,", " very Wine one. Jll' IPEI'l'Pl'. ot' tho continued Mr. Howell. "Do you pro- Opposition Haul ho was surprised his pose to increase that?" he asked of hon. friend bad "M irt thc bill recog- Hon G H. Ferguson, to which the , nized the differ-ohm between tho iiili'/stii: replied that there was no nickel industry, an; an jlluratrmtiov, on 5.013081" at present to further in- tho one hand, wricre, the price is Grouse the taxes. q rapidly rising, when: it is " monopoly _ ' ' l controlled by two companies, comh Much Water in Stock. I pared with the gold mining;. industry, _ osition leader declared that v where the product 1w of trvrs-dcuuvmire t,dl1/itfh1."gf'ti'eilll" Nickel Company had rd vague. and where the cost of operarl put into the enterprise only a limited loll-l (mugs? so .efterii,,tlly. I capital. "In the information given to th on. A I: Ferguson-Thai It; one of tha, Commiission, in fact in their re- . e matters under consideration. - turn, they put the value of their a. w Mr. Howell then referred to the plant lands, and even the ore, equip- .' illegal agreement' entered into by mom, and so on at about $9,000,000, , 318 Government with the Canada' that 'figure 're'irr'eiihirifir,' their assets ' $26,331) (scrupuny {oar , flat rate "I in Canada. It is doubtful if that re- (A [ Fr'ir'sri' ' near, .an reclared if t.1v? lireitirfi) that lunch money put in. nee was trotng to be in receiptl The stock of the International Nickel f of hundreds of thousands of dollars Lira "luv is largely water. Mr hon- of increased revenue it was because draie 'i,1ieiid knows that in ffi2 they the Government: by reason of the iissucd two and a half shares of stool: ' pressure of public opinion, was corn; 1: , every share of common cdr, .Delled to Ro back upon that 'agree- Ol V '"w' t., tl ' and 'ment. This "ak .. . . stock then in tne, compam, 3 - ti exceptional treatment they were largely water. In Eb) a tlat rate was contrary to the, Lili; if you take the actual Cr ,mines act. The Legislature was the t." . ' " " 3 only bodv that could determine the dividend they pay plus the stock din-- rate of taxatio f th - ". '. . demrand you figure the dividend on . . n o ese companies. the. basis of the original stock hold- :Should Pay Back Taxes. ings and on the basis 'of tttyeet,tt.' Having made an "agreement with 'itltuL,'f $.23} a"tti,?at2p' JlTiet,12.' thr, International Nickel Company.| cent. on their stock holdings as of the Government had to deal with the) 1912 before they distributed their Mend Nickel Company, said Mn! stool; s Howell. and the Mond Company ME . , , le time was paying a dividend of.', Profits in Millions. 521:5?!th per cent. on Its pvefet red, . "They pay the cash dividend in 1916 i While by the legislation now intro-_I '320'519A'3L'803i "Sign? was to; "'3 "du _ G vc, " - [ it P, seal. l. " they distii ute 1'l'ft,ia,:tlle, othmnhenfi to.ok the mat "r16.391,567. When you t'md them there was? be if3 "Pugh ot' 1916, making such earnings I submit that . IO "revs on n f e not re- the rate of taxation is wholly inade- iquiring the International Nickel Cont.. quate especially when their profits J!l>any to pay adequate taxes for the (exceed $5,000,000. . ' IglEOGSIetllhng 501:" 333:;'(1 Th.? 0%er "_We should have a progressive _ . o . e so. b e .mth legisla- basis of taxation greatly in excess of tion that did not require the Inter- what my honorable friend proposes _.nMion.e1 Nickel Company to Day its! and in order to determine-what the taxes tor those years. \ tax should be we should know what Company Hides Information, , the real. p.rotittrare. Undoubtedly the; ' t . So far as one could ascertain, thel Nickel Commission had taken the figures given it by the International T Nickel Company, but the Nicks}, Com.. pany had declined to disclose t e cost _ _ [of refining, so that they were unable [to ascertain the cost of getting the _ stinished product from the raw mate- V 'rial, and he did not 1tnow. whether the Commission had power or not to St compel the Nickel Company to give _ 1 them the: information. ,'. g 0 M