The Ontario Scrapbook Hansard

Ontario Scrapbook Hansard, 26 Mar 1924, p. 2

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4 ' ve We w TebA o. care o6 un | ""C"rz Money "All Himself." Table of Prices Produced. ,Doher'&"c';finmed by Hon. Manning _A table produced to the commit-- | phatically th Harris stated most em-- tee showed the price the Provincial | _ | profits Wapy Tt NOt & dollar of his Government paid over the actual To-- Governm 'nt to any member of the| ronto market price in its various pur-- (':nvernnm: or any supporter of the| chases from the Provincial Securi-- in diFen nent, in any way, directly or|tiee Company. There were two pur-- indireCtly. Not a cent, he said, in| chases on Feb. 11, one of which was nNSwer to a question of J. A. Cur--| 30.7% points over the Toronto mar-- rie, went into any campaign fund. ket, the table shows, and the other {Ie made the money '"all himself,"| 2$.90. On March 29 the purchase he declared, and made no division at was 22.92 points over the Toronto all, not even with a partner in th"lmarkot' on April 15 it was 23.01; on transaction. Snyder, he said, migh! May 11 it was 22.49; on June 20 |' bave received payments of $300 01| it was 12.54, and on June 28 it was $400 from him as return for the 12.21 i % work he had done, but he had no! ~'~~' se en tm en ecmnggmey exact recollection. Before the committee adjourned. at 12.45 a.m., it called F. Husband of the Bank of Toronto to submit, documents relating to the Provincial! Securities bank account, and also Messrs. Winters and Saunders, of the two concerns from which Harris bought the bonds he resold to the Provincial Government, for the pur-- pose of identification of a pile of | documents which went in as ex-- ! hibits. | Everybody Made Something. | Mr. Winters, Treasurer of the | Manufacturers' Life Insurance Com--! | pany, @dmitted under_ Provincial' | Treasurer Price's examination that . | his company made about $4,300 on the bond sale to Harris, and Mr. Price pointed out that Harris in turn had made another $5,000 in his sale to the Government, so that everybody was apparently having a good time at ! the Government's expense. Mr. Win-- | ters said that his company certainly had no complaint. He knew, he said, that 85.40, the | price at which he sold the bonds to Harris, was '"a good price," and, as 'a bond man, was aware that the I London market was not that high. He admitted, to a specific question by the Treasurer, that it was "bad" business for the Province. Mr. Price submitted that they could have been bought on the London market at 30 | points below what the Ontario Gov-- ernment bought them at. f Mr. Harris, to Mr. Doherty, said that he knew people in Ontario who would pay almost any price for suc-- | cession--duty--free bonds, if they | could get their hands on them. | _ _ Mr. Winters, asked if he had any | dealings with the Provincial Securi-- |ties Company, said: '"Well, we didn't | know it until after," and he went on | to explain that Mr. Harris, when he called, submitted his card as G. R. | Harris, of Morgan, Dean, Harris & | Mulveney, upon which there was no | mention of Provincial securities. | Fresh Witnesses Called. | Before the committee adjourned} | motions were put through calling for | the appearance of further witnesses at this evening's continued investiga-- tion into Provincial Securities, in-- cluding George Hearst of the Assess-- ment Department, Toronto, members _ of the firm of Lockhart & McWil-- ; liams, and Bank of Toronto represen-- | tatives, who can explain Mr. Harris's | dealings with the bank. | Knew Dutiecs of Office. | Asked by F. H. Keefer what he l understood were the duties of a | deputy of a department in the Gov-- | ernment, Mr. Mathews said that, so | far as he knew, it was to do as he | was told. He was not to give advice | until he was asked. "You should | have noted this transaction, with the | general knowledge you have," Mr. --| Keefer said. Mr. Mathews, in an--| .| swering further questions by W. S.| | Haney, said that other bonds were| | bought subsequently to those pur-- | | chased from the Provincial Securi-- ties Company at a higher rate. The Order--in--Council authorizing the purchase of the bonds from the Provincial Securitiese Company was also produced to the committee, which sets forth that the Provincial Treasurer is '"authorized to purchase out of the consolidated revenue fund at par and par of exchange, with accrued interest to date of de-- livery, the said inscribed stock, which in this instance was the stock , offered by the Provincial Securities Co'i'];lxi):n(y)rder-in-Counoil is dated March 22%, 1921. Another, dated . Feb. 10, 1921, authorizes the Treas-- urer to buy at the same rates an offer by the same company of a block of stock totalling £50,600. _

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