The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

s t on( ol Eon incmomen enmimiinengriee oo teematmeinininie m mone . TECT T UBLIC South Wellington Liberal that '"e! PRO EC HE P Government should arrange to PNUTU~ | chase materials for house building . 9 PLEA on an extensive scale. By the St""(.'- | ROUDF ardization of all materials m}"'h! money would be saved to the ]I'O-?! on sorstortnimpengentoome esns tennenammmeeramant vince and the individuals. 1t omdi2 d Amend ' he believed, under present CC & * a ® * po ® tions, result in a saving 0f "** | Leader of Opposition Thinks I'ro Is)e Not 200 on each house. | t 0 0 ' Good Bill in the Main. [ ments to Loan and Tl mthAc ' i7 e maln the bill is 2 ;,1)()(l| ' one,"" dt:,'clared the Opposition Lead-- ' GO Far Enoug er, Mr. Wm. Proudfoot, imi'l"""':;'i, + inoouatiaomenitremeteremmemancemmantirntarmmtcmamanat .. * | that he would suggest some chanE?s | tions of the com-- W hnvs (igebreaptar Wh,'?t'}otgmq]t)flflr.-""5-7]\]\".;', While the Special Committee of ;)P;erll:snti{:clggfr::' the soundness of &:::dtomsego?;lgtl the best ;>(>Sfii'bl"'= the Legislature which during rece$3] q1 ing joans and} lnz:f:i:rr:f);\;g- &nI; bill is put on the statute l)()(lik.\'. ."0 considered proposed amendments t0o| such a Gche'nlel::'i*-:;it eHMectively the | ' is a matter of very great "RPO"!~ ||ing Loan and Trust Corpox'!!'t:(;:s ii;'v,f_,fii'o{.';'t 'ffifm not be proborly'; . an;{er Proudfoot supported the sug-- | | Act completed its work at a mpee noi protected. | L gestion of Mr. Carter, that there| held yesterday, its finding does Another Smash. | should be standardization of nmtt:rl-' meet with the approval of the Oppo-- Prevent Ano ¥ | als. In this he was backed uD °Y | sition Leader, Mr. Wm. Proudfoot, There were present at the meet--| Mrs. 8. Clarke (West Northum 30.21 [ K.C. It is expected that the m@&JOr--| ing representatives of the loan and | fand), and Mr. J. C. Elliott (West |} i.C, the| trust companies. They were chiefly| Middlesex). [;ity report will be presented to concerned with a clause in the draft, The Jlatter expressed doubt as '"i' House in a few days, and that Mr. bill which would prevent companies es metfh({g Of m('ibittm{lr?nxr:;-).'{wmni;;i Proudfoot will bring in a minority}| from investing m'odre than.tllfi p,; rice o e lan o b arken _ , i aid --u capital an gy the municipalities on which to | report embodying the suggestions hel 52::&3: ixt1hteh2 s%curitlI;S. o to, of an. (build. He suggested that it lxlzfirhti' made to the committee yesterday. | other company. The department be well to consider having an Of~ | _ 1} was thought by the OppositiOn | orcjals had intended by inserting the ficial arbitrator with similat DOWT!7| Leader that the draft bill before the| clause to prevent a recurrence of to that of a Judge of the Exchequet y did not far enough in| the Dominion Permanent | disaster Court. j committee o s onl about a year ago, but the compan--, Mr. Allan Studholime (East l{;.n1:, the protection of the public. True, les objected--on the ground that it ilton) subscribed to the ]mn;.l."'.l":; certain safeguards were provided,}) wouiq prevent a loan company, for s of the bill, t)ut he()fe}l):nt:\att;\l}:'-' 'lt';:;' | but it fell short of giving to the 1n-' instance, Gdoing a trust _ company| gf--d&?rr;esorfir(nrfln could bear, and | vesting public the security that was g;il;ness through a subsidiary com | :ga.ve as an example his own diffi-- desirable. Under the bill the.GoV- Tt .wa_g pointéd out by Mr. T. G. culties in securing a home. .| ernment assumed no responsibility Meredith, K.C., of London, who rep--| \ _ ~Others who spoke briefly WCTC' | gor the financial standing or the pro-- resented 'the~ Huron & Erle Loan Hon. W. D. MCPherifinn, .\h'l. <'1l1 .\I}:l'- per management of the companies.l Company, that the 15 per cent. lim-- eaun (Sturgeon-- Falls), and MTP. 14. | itation would prevent the issue of 4 lgVIunro (Glengarry). The hill was | Wants a Superintendent. new capital byp one company of a given its second reading, and it V\}" | To meet this situation Mr. Proud-- combination and its purchase by the likely be discussed in committee on !i foot proposed that a Buperintendent! otiner out of surplus profits or re-- Monday. | or other Government official should|sarve, The committer, however, de-- nssm nsm mm memmmammm mm | be appointed, who would be entrust-- | nigeq that the clause should remain ed with the duty of keeping in touch| in the draft bill, and it will be sent h with the companies, passing upON| on to the House. It was pointed out * their investments and _ also thell | py members of the committee that a methods of transacting business. The loan company could go ahead and Opposition Leader thought that SuCKR | joguye new capital, but raise the monev an official should at last once & YOAT | by public issue instead of making * investigate thea affairs of the com»-- the new issue a means of disposing ~-- panies, and if anything gave rise to| of accumulated profits without dis-- suspicion to report to the GOYern--| triputing them to the shareholders. - ment. He did not believe that the! Two additional clauses of a tech-- strong eompanies would object t0| njea nature were adopted by the that the weaker ones should be ln-lm h# vestigated regularly for the public's' & (pippregpnmaitnsersia.s s protection. | The members of the committee, k however, were not inclined to accept. Mr. Proudfoot's suggestion. While]| > they admitted there were points in | o favor of such a course, it would be . practically impossible for the Gov--, ' ernment to accept responsibility for 1 & 1 \ l l ; | | & | ' | \