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

. . _ ' . ' RDAY. APRIL 8.. T lOBJECiS Ti) 3 . . 1 Mr. Smith maintained this w ' ' ' " no i I. an anBWer to the question, and an," l some erotm-fire, in which the Speaker ' ) .h.ad to intervene, Hon. Nelson Par- , liament ruled that the question had ' . _ not been answered. Mr. Ferguson .then said he did not think a Budget tever but]! been delivered in former 'imes wnere the Treasurer did t M. H. Dewart and Hon. G. tell what o",'/'/"'i',' he would requinrg. low it: won borrow it, and what H. Ferguson Attach Hon. :9 would do with it when he had . , . . orrowed. 3 Peter Smith 8 Action m . l The Provincial Treasurer retorted' . . - tint he alwavs floated loans hy pub- Not Informing Legisla no tendrr. mm the former Govern.. mont. seldom did. There never was ture of $15,000,000 Issue a Treasurer in Ontario. he ttadd. that ------------- '" ever took tho House into his Conti- SPIRITED REPLY denee in the floating of a. loan. -"-----------------. - Strong objection was taken yes _ LAW terday in the Legislature by H. H. i Dewart. ICC. (Southwest Toronto) ', and Hon. G. H. Ferguson. Conserva- E the Leader, to the (8oatintit of a loan . . by the Provincial Treasurer while T . the House was in session without _ "on. Mr. Haney Explains Act consulting the House. . Mr. Dewart referred to advertise-, to Legitiaturtr- Goes to ments that appeared in the Press, Committee yesterday morning, calling for ten- ________. tlera for a proposed loan of 815.000.- 000. the tenders to be in by noon on [ CHECKS F L 0 T A T I 0 N s April 11. He wanted lo know under ------.------ , what authority the loan was made Hon. IT. E. Haney's promised while the House was in session; to .' ."b1ue-sky" legislation was intro- what purpose the money would he duced yesterday into the Legislature. put; tf the provincial Treasurer had and the bill was given first reading. when advice of ti",,oy'/isd,nr,fyf,g,? Like the Anti-combines Act, this .. ' New York: and if ie a con- . 5:11;; the Attorney-General to know bill .w111 probably be referred to a if the method he had followed was spectal committee of the House "tral. . which will meet during the recess. The Provincial Treasures. a'//r'/'r' The Attorney-General said that in Peteztirglg'lv J,aifnshte,rt'e,S/ttuhe'il legislation of the kind introduced it . {vans at that time. but would en-i was best to proceed slowly. den-or to answer them on Monday.: In explaining his bill, Mr. Raney Mr. Dewart more: this] a/,'t'd,'irTeeenr,t said the general scheme was the ap- bate an sa l I,',',':,",,',,')).),,". thing to have seen pointment or a commissioner, who those advertisements without any. . might examine any flotation, either reference having been made to the . on his own initiative or otherwise. House. He Said {he t'/oo,,1"'t,,,w','i','r,'i'cnri; All prospectuses had to be filed with Jy,ed/i,ftt,e, information I _ him. This would apply to all com- ., hem- Dewart then proceeded to out; _ ' Dames. wherever they were iii) soiiii/ai/sL%s. one by one, to Hon. corporated. There was a provision Peter Smith. and elicited the infor- _ for the registration of brokers and} aviation that the loan had been agents. ( placed under authority of the qydro- Consider All Interests. electric Act: that a. total of $7,000,- "L, . . l I00 as to refund other loans. and very great pains have been taken t Wl . was to be used for gen- to consider all the interests affected 1h; images - by this bill," said the Attorney-; '1' . . " General. He said the Toronto Stock . . _ nto membe. "T 1 :rirrytsaiife't1,2thti,vtts.t J/ic' the House Exchange and the Bond Exchange. ma; sitting authority for a loar had been consulted. and, though; xha. di com; from the House. The they at first were rather opposed to] :eogisla urc ., had been, required to this kind of law, they were now: ff"! Jr,; vote of 8:1.ii00.000 for Hy- 'ttd,',".",',',': . Mining interests. he: duo. nut this sum was raisea-ututer stl,'ih1,"rtlti Eire fgifll'y Jr." plan"! ihe authority of the Hydro-electric A l', i rm o e . A t and ihiiaost half of it was for mover ng a question from Hon. _ C , . s G. H. Ferguson, Mr. Raney made it general purpose . clear that all c0mpanxes did not Are Moneys Diverted? have to go before the commissioner, He wanted to know if the Provin- but all had to file their prospectuses. cial Treasurer realized that the an, the consideration of the commis- fect of his statement was that he sioner will not be directed so much was borrowing money under the Hy-l to the question as to_whether an is- . dro-electric Act. and suddling the mls is ot a speculative nature, hut Hydro-electric Commission with the rather as to the honesty of the issue, venponsibility for money diverted to whether or not it W33 fraudulent. 0th?!" purposes. d T310 f)tttt'i,ne?,tf/eirt"'r,t1, said that in ' . . Fer uson added . ral " e t was Bought to r,i.y"grotf'st "/',wlrii, or in. Dewart. avoid certain objections to this kind ".was rather remarkable. he said. ff; legislation. One objection was that the Hydro estimate of three and If"), where a certificate was given a halt millions required in October \ y t e commissioner. it would give was held for some months. because the appearance ot a, certificate ot the Government desired to have the 2gr/ti,ttr _t:fid"%"f/r'"iU'steat'it,igu', in . of it, and now they l, ee on was ht",'e/li',','rS"'m1', days' notice, with.. toward legislatiOn that was anti- out consideration by the House at fraud law, law that was not so much all, though the House was In session. prevent ve as pesrtal. He thought the Provincia; Treasurer: 1ua Good Purpose. should have anticipated t e "we" 1Pl Hon. Mr. Ferguson said the ur- in the I/top,";,',",',,,',?:,'.?" have been _ Dose of the hill was a. good one,pand "tl-ull',.'. Smith asked rather heai- Lat",':," t'ioJ'"l,'l'lrd"'t,t,5 :3 trood ed1yif thehvacgnment of wglch Mr. deavor to get the approve}: ot 3:; e uson a een a mem or ever .0, iaslotter. Sulfa! the permission of the House . c 'll'll a t vid to float a loan. Mr. Ferguson said . s'?, c pro " that the com- that the Treasurer of the Go-vern-| . 'dl't oner t."' appointed by the ment of which he was a member had t f'gfT,'h"'n, ' and he may insti- 'lwayl been prepared to say what a; . I u e an pro.ecute tuur action tar loan was'for. " the enforcement of any promlonhof