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F c}) 2 Dflq. : | ing methods, ete. 1 gev vuy 41 ; -- ipeisdo us the attached reaol\:t?:nl of zo cmur.r f"I:lh their rdellbera.t.l}:xs the members'].me S w'x + ence, Appendix B, should be placed be-- |° e conference ve come to .a ) k & A fore the stock exchanogues, wltl': the sug. | Unanimous conclusion. It is suggested | Non Sc0ba pproves fen miek onnd ies die |pnain wife en inadmnd| , ) ) oo t wher C arious Provinces dea * F 'm ghee ere:gtm::;fi::nfsmc;u;mfi with the Security Frauds Prevention| Attorney--General W. Lorimer | herewith and accepted by the Toronto Act, they give ample power to make| Hall of Nova Scotia called on § exchanges.) 't"f":,e"l"fifums that may be necessaty| agtorney -- General Price at |-- "3. That in respect of Dominion &A th certain matters of trading # * tera 1l5ok d/ criminal law, as all prosecutions for|°" the various exchanges. Experience| Queen's Park yesterday, looke g mijor offenses had to be mate unter !only will show the method of curbing |> over the report of the recent the Criminal Code and as the Deputy |certain abuses, and it ,15 desirable that |} interprovincial brokers' confer-- Attorneys--General attending the con-- sufficient powers be given so that those |> hich:--Col. Prics was pre-- ference reported great difficulty in the fikee may be dealt with without the 4 Puting 1 y to th t { past in proving bucketing, it was aq.|AUAYs cocasioned by further amond. ) Dating for tGlease o lhe plets, ; visable to suggest to the' Minister of m:m ts to the act. s and p'r or'r'xpt.ly feclated .Nova $ Justice at Oflfaws that a new section |, 1N this connection, it is suggested ; Scotia "in" on the joint action 6f / be Added to the Criminal Code. At-- that each Province deal with trading | the Provinces to improve trading } cordingly a draft section, 231A, was against customers' accounts by brokers, $conditxons on the stock ex-- ; ~ prepared to cover f,he offense 'of o both by making contracts with cus-- Schanges throughout the cquntry.; broker reducing the quantity of stock tomers voidable and by making the act ? The Province of Nova Scotia was ; which he should be ca.rryi-n -- fOf his an offense. See the new Part V. to the § not actually represented at the : customers by selling for his "own ac-- Secu:slty : hawe n o' it Hintitn, %recent ( olee rnientines bo prma h | count against . his . customers' buying | enacts th Pg""{'t'i'\s [Ao, 13. CHlament | signified her intention by wire at } dix C. be supersedied ut i e 6ffe i WOP:id |{ of the parley. She will now draft | "It was thought that, with the Se-- |rights would stand gct upon civil I a Security Frauds Act similar to | curity Frauds Prevention Act in foree | "It is further suggested that, in deai. |( thAt, Of Ontario and the other } in the various Provinces, giving the |ing with the question of market trad-- i'é P o atte . } Crown an opport'un"'y to lnvestigate mg, the various Provinces Co-op.grate! e o e o Te d oo complaints when made, there would be |completely with the banks and leading | & greater opportunity of getting evi-- | financial institutions, as well as the' dence for the laying of charges and | exchanges, in securing the adoption of their proof in the courts. rules for trading that will protect the Divided Jurisdiction. investor, and at the same tims not: ME T PP ITI "For a great many years the divided | inttrfere with the practical methods of ) jurisdiction of the Dominion and the | tr¥ding. The development of the min-- Provincial Legislatures has made it very | N8 %nd Othil' 1113W!'a1 ressurces of the y t e difficult to regulate corporations seli-- | COuntry must always be kept in mind,| i f ing securitics to the put?lic. The Ds-- Tnd cs;re rglust be taken in the remeody-- i Would Wlpe Out _ Small | minion, having incorporated companies | N8 Of abuses not to create others | i i i lBDd siven them mnppowem hpmelwhich would only stifle business and wmerleS, Depl'natlon * * -- hi ;| not advance the general interests of C|aims stock debentures and other securities, || the public. has contended that the Provinces have ; "A. W. Rogers, | e t mk :1: right to restritl;: it.hcsenc?]{mnics i:n; £ "Secretary of the "Conference. ' Reported intention of the Ontario t.iees :'::;Ci:g".::s_' eTxh?csi{'r;;,t:;mcagra;;-i Forouto, Feb. 14, 1930, !Government to put native wine sale inces enacted 'blue sky' legislation and l | on a permit basis brought a large depu-- regulated all ccmpanics issuing or sell-- ! tation of Niagara Peninsula grape ing securities in the Province. This | growers to Queen's Park in protest, worked cout very well so far as Provin-- || esterday clal companies were concerned, but || T Y To Premier Persuson. the denulation when the Dominion companies attacked :' !argued tha't suchga méve . ts Noi AnSere® be on on ts| n nnecmes \of"the Government would restrict the these Provincial acts were, in respect | A * f::j %.lgfigied?y"":oulgvg:?fgg sst;x:lsl of Dominion companies, uitra vires. The | DprOVfll of Other Provinces inesies out of business. H. K. Clem-- result was that Dominion companies, | s Chk without any Provincial .such'visioz}.f lS RUShEd Back tO leGn;a:p:{ g;%::gs'PAxgc:giixgd:fmggespfikei , often sold spurious securitiee through | TOTOfltO man for the deputation, contended that, ithe Province. This matter came up f'()l' ' o o at the present time, only a small num-- ggonsrlderatioxil 13' t,u:)(tt,. Intex})rovm"cla; | ber of the wineries are financially able onierence Nnéld a awa, Junt i, to place their products in the Govern-- !and 9, 1926, and the Provinces \\'cre; PRAISE FOR MR- ROGERS mefit shops. ° unanimous in suggesting that the Do--| f | _ 'The deputation also requested that no minion pass ancil.airy legislation giving |_ There is another side of the Queen's change be made in the present regu-- the Provinces an opportunity toregulate j Park brokerage conference which does lation whereby tsurists may purchase the sale of securities of Dominion com-- |{ not appear in the official report, but three bottles of wine without a permit. panies within their jurisdiction. A copy |Which, in the opinion of Attorney--Gen--| Premier Ferguson held out no prom-- of the bill proposed at that time is !eral William H. Price, simply must be to the deputation, _.-------- ow attached to Appendix C. Ltold. j i tucs Aumaltthin S : Oe ... :. Shate ~oome * "At the Dominion--Provincial Con-- _ It concerns Arthur W. Rogers, confer-- ference in the fall of 1927 the Provinces ence secretary--"to whom," as the At--| were again unanimous on this type of torney--General puts it, "no tribute in | legislation, and asked the Dominion Cconnection with the work he has done Government to pass the bill. The Do-- can be too big." [ minion felt that they should regulate The conference, with six Provinces' their own companies, and nothing was Actually represented at it, sat from | done. Monday morning until late Friday. Mr.i ct of 1928. Rogers and his staff worked until mid--| Ft:;:'e :r;\'ix:f'es therefore, being loft night the fullowing day gettip i ®}s re-i * to their own resources entirely, the| port and the various appendices ready. Province of Ontario enacted ths Sc--. gx;idhmfi;edm:gafiaswgfid";erte D;'e~' s y ared. 7 nto play .\ |Whigh movidga for deating witn ins | #} YAtlous Himesg on Sundey, and within | s i l ours the rney--General of the mfii' ldu:}l'ebro;errfir saxigsmr::tt\e'rmw'fi:i | most remote Province represented in the l seung * lul ¥) Provincial or for--| conference--British Columbia--was pe-- ::nnm:'is Dman!ecl ': :ln' This fms (\)v orked ' rusing his copy at his Government desk. ; ' out reasonably well, and is the type| , PY telephone, telegram, etc.. approval|~ _ / | of the report came fiying back to Queen's j of legislation that all the Provinces are | Park, and its simultaneous rele D | ' enacting. It has been thought, how--. £ 4* Provinces in Brinled 1 ase . d ' ever, that the position of the Provinces | all the Provin was sxl;bse U tgrm, as it | » & ' in this matter could very well be| NOW APP®A!S guentiy asreedl strengthened if Dominion legislation : 4P°"~ 6 along the lines of that suggested in * 1926 and 1927 could be enacted. The | conference, therefore, suggests that the | various Provincial Governments should | submit to the Dominion Government o tie bill attached to Appendix °C' forl enactment by the Parliament of Can--| ¢ E ¢ ada. |