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x ana n ----.--omsemmssumem t 4 { "We ha~ve heard o0f "bling " 2 3 A N , .l and we have heard the word «fé',;f;; a» 5| used to indicate where shady trang. .| actions can take place with a more Mtanrarmem ces nizngss $ mnoones ----Reentici ie .. gl|or less degree of safety, but it has .-, PP e <3._sp" i The whole matter is to be thor-- ~|remained for the late Government , as Not'ltng to Hlde ; oughly probed by the Public Ac-- j apparently to countenance a 'blind | counts Cp11'1ryxxtt'c<-.'bo-fo'rv_ which L'lw a| bond house' for the purpose of deal. ' and Welcomes Probe -- |former U.r.0. Cabinet Ministers will 2| mZ in securities of the Province al Ad a s 6 .& |be asked to appear for examination. a most disadvantageous price to the f mits PPOUIHCIG' Securi-- | The Charges of Mr. Price. . | country." 4 p ) ving is the stat t of Provinctial Treasurer Price went ties Company Got Higher | . I"s folowins is the S®UmIN® Cl ) on'to contrast what the Provinee hnd e ) vC ic N N 4 L f + i Leciclature which will b F 1| actually paeid for bonds bought PTICCS T han Others -- I'th(/ ].4(,.,.1'.:1'(1)1'(:, wh"m'h. will be made @|through this company with what it "h(.'). subject of inquiry : ' s a might have purchased them for, the Purchased From Dozenms |, "A f©sna of mine arow my arten-- > |MES* TMhoting, he said, that _ the A Ition to this outstanding case, name-- > a f 10 + 15 ~ f [ inat im : 4 4 j rhic m Province had paid from O | { F of People |iy. that in an estate in which his >+| / ts too much. 1 > sister was a beneficiary there was , | Po } n ihe-l'd $20,000 of 3%4 per cent. Prov-- 1| Mr. Raney and Mr. Browning. 1 f ince of Ontario bonds, due in 1936. [ o J DEC'DED TO BU Y IN |'I'h-e trust company who were exocu% da?xsggn invv'th;!: I"enfmbel;t?;:ky,';:;te-i; y P tors and trustees advised the sale o o i i oalre erasurer' efer-- '25,000'000 ' SSUE these bonmds at 93, stating at the time grt\cté};e 5:2";?;'}10?18 d&l;!r zor Mr. o amale. a trnh.g.;ethe e s / o e o oo aookl ;| Raney's appointment of A. G. Brown-- Hon. Peier Smith, former Pro-- "t i n Armaat i mm t 1 & art.. .|ing as special legal adviser to the i Jpon investigation in the depart 'llate Attorney--General on the O.T.A. f rincial Treasurer, declares he D@S | ment, I found that on May 5 these _ [ | {&l©e T 2 ns o h Mr. Raney expressed his resentment . 'nothing to hide." and is prepared bonds were solgi b}f L}_m Lm}.«t com-- :| of Mr. Price's statement. s o come before the Public Accounts | PAWVY to the Provincial Securities s|"" wwlr ne had left the House the ¥; vs % Company, who, within a few days, -- | day before, declared Mr. Raney, Mr. < committee of the Legislature and | turned them over to the Province at I Pr)i(ce had'see'n fit. to connect.' hds. iefend himself against the chargse | par. o ce '| (Mr. Raney's) name with some f his successor that the Province | . n'ggs' :"'fig'i':;l'r'm t?::tto'abp ":1('1(';'\'~' § animadversion. In so'r)ne manner he f a g nnttk and"" we s conidiition----tha s i d cul le beca t L Ontario was milked .by a"]whn was a beneficiary of an estate ms gf]i:geglelassoci'z?io: w'u#"}zf._ E blind bond company'"' during the jeould not get. thmough the -- trust e Brown.ihg. i, rury regime. !(tompan}', a beitter price than 93. 'e "It is unfair to Mr. Browning," ie ; Mr. Smith returned to his home I('ould Not Locate Company. sai'd,e"('la'gd untrue so far as I am con-- ; f 4 4 in vact imatia 3 cerned. f| n Stratford last night, and was in--| Upon investigation to find out T o 4 o ¢ '] ; a 5 ) s (;istallce téie-- 1\\'110 composed the Provincial Securi-- Instantly Mr.}Pnhce gozse l|imfl de-- lerviewe p long-- ties Company. it was ascertained, ma.n\d-ed.' thropg.:i't ei] peaker, an bhone with reference to the charg? | that they were not a limited com--, 1-- unqual'iflgd "m'hf'rd;"d'f. ds b f Hon. W. H. Price, K.C., Provin' | pany, nor were they a registered, t'Y' twfierll.a'?;\e ggiz-rr:l;{enor't a:;'ro; e; f 1al Treasurer, that the Province pwrtm'm}"p' Their namic d"? T o ribig tion benches followed, anid finally, , appear in the telephone book, and| ly k hi d' led r | oet thousands of dollars as a. re'""lthm'x' address was supposed to bei n | after the S'pea"er da.' r'ut tiagalpst E" * the policy pursued by Mr. Smith |'106 Mail Building,' but there is no, ge lg:_he%agizl';rtdetgfiutL}r::*pl;laii %';:d"?;; " n connection with the purchase otlr'ecord there of any premises having| as intention Of imputing' Ja . unitruth iuccession--duty--frese bonds. | been rented them. Letters were b.en.tl at but, "under compulsion of your rul.' ' 'The charges of Mr. Price are there to them, but most ot'. the; ol ing'I will leave the malter as it was . ery vague," declared Mr. Smithflcheques for tlve bustnmess they did for' Y . bofbrc the statement was made.," . "The Hearst Government issued al}|the department were delivered to 'He knew nothing of Mr. Brown--[l he --bonds that were succession--duty. i theit rephesentatives . parsonally l'nl i. |ing except by repute, he declared. k "ree. We Aecided to buy them in, the Pzn".!tarp-emst Buildinigs, or sent d« l ** Mr. Browning came io his notice as @nd set a maximum price that we |rect to their bank for deposit. 5 l ofla man well acquainted with the en-- said we would pay for these bonds' Investigation shows that the fArSt| on| forcement of the Temperance Act, Jur way of fAiguring was this--and | business 0'?, ie Aoneenh ";Sl,do;nlel to| and accepted the offer of the then [ have backing fortthis statement-- '"lf)h. the Government on .1" _ l l@| 'or| Ontario Government only with great the bonds were worth more to us 1?"_]_' thai (')ld-ex's-in-(,oun(i:.'l v;mie Sss | reluctance. After the new Govern-- than they were to anybody else. ivew in o mxiness wich ime oay_| 0l--| ment came into power it had scen offer to do business Wxth tlhe Gov-- gh}ifit to withdraw the correspondence | l.ot Highesti Price. ernment, and purchasing at that y n he a A i s ; rs.' and cancel the appointment. "I would not say thai we paid as| time £50,600 of 4 and 4%4 per cent. ~ much to anybody eise as we paig | Inscribed Stock, f .. io the Provincial Securitiee Comq|,, 'Their letter to the Provincial pany. But we bought from dozeny "11"1*e.a»sur ercghows no printed _ lelter. ind dosens 'of people.. 'The Bank. of | ( 280 Puk is e ns is adict ~ Montreal were buying in a certair| N€Te in my hand. -- This company, mroportion each year as a sinking| W8® evidently organized for the pur--| A A ;. | pose of dealing in these securities. PR (und. Other people had agents ir i P o | dlignt J The letter was signed by Charles % London buying up these bonds. Tha: * d o % a *L imasy ; | Snyder. This company continued to k is what caused the increase ir c & us the competition to #et hoit do business with the Government for 'o"f'(:';gn fe: rompeuixd o B 4| some considerable time. f : ces R e e '"'Upon going through the papers WWFhat was the lola:. .isulue ©1| carefully, and looking at the cheques lh?Fe bonds? nsl i. end@orsed by the company, it is found & Offhand, I think it was $25)| that Mr. George R. Harris signed for #00,000. Some of them expired i.r.!.Char]@S Snyder under power of at-- 1965, and the others in 1947. The} torney, and quite often signed as hav. ; long--term bonds, of course, Wers!ing received the cheques personally worth more than the short--ternm|at the Parliament Buildings. bon«s.'"' i \[r. Smith said that every transac | Members of Another Firm. tion in connection with the bond "Investigation shows that Harris 7 was set forth in the public account: l was a memiber of the firm of Brown-- ing, Harris & Northey, amd that Cabinet Was lgn9ranl. his firm were also at that time sell-- Former _ Premier . Drury, _ Hoi !invg securities to the Government----all ' Manning Doherty, present Leader (|of this selling being done at a very . the United Farmers in the Legis!i | high rate, costing the Province on x turse, and other former members ¢< | Canadian bonds over $10 per share; f in. th . | the Drury Cabinet now in the Housg | on each share purchased, and often declared yesterday that they nev© | §g25 to $30 per share on the English heard of the Provincial Securitic j Inscribed Stock. Company, a concern which P"O"if "It will be interesting _ for the cial Treasurer Price characterized & | Hrouse to know that Mr. Harris is a _ "a blind b(gg'd h?r':'::'t','?'h'"'h milke | gson--in--taw of Mr. Arthur "%. Brown-- the Drury melty * <tp --_, |ing, formerly Deputy Attorney--Gen-- 9 Premier Drury, Homn. " E. Ran& eral of the Province of Alberta, and Hon. Manning D'?'h?"" ';;"'g' thl * gentleman very much in the good others, white admitting __that th" graces of the ex--Attorney--(ieneral, ' , principle of purchasing succession..| Pecause he hed him appointel to ' | duty--free bonds had_ been -- ap--| some J'ucra.txve' position in the At-- i- i proved by the Drury Cabinet as a borne&y-Generals Departmoent about Iwho-le. stated that the details nag | the time the late Government went s i been left to Hon. Peter Smith. to the country, and he had to be \ ! _ ~Ex--Premier Drury stated that pe |telleved of his position when this f ! knew absolutely nothing of the de-- Government came in,. 5 4 'tails. Nor can his colleagues throw o E | any light upon the question. \..) # .