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the Government, nor the manage-- ment company has the right to diverge from the policy of the directors in this regard. Mr. Meighen maintains these companies are manifestly en-- titled to treatment on the same basis as any others and to the application of the very same principles governing disclosure Oof the details of other businesses, Provincial Purchase. "Mr. Meighen had no part in any negotiations for the acquirement of the property or the bonds of the Ontario Power Service Corporation, ; and be informs the Government that.i from the day of his appointment until now there has never been a time when any information bearing on the value of such bonds was known to him, or was available to be known to him,. not equally available to the general public. The acquisition of the bonds and property of the Ontario Power Service Corporation was negotiated and undertaken for the benefit of the Province. and not as an enterprise of the Hydro--Electric Power Commis-- sion, which merely acted for and at the request of the Government." . It is noticed that the reply to this question did not disclose the amounts of bonds held by companies in which Mr. Meighen is interested. This was disclosed in another manner. Earlier in the session Mr. Taylor had asked for a list of the bondholders, and the amounts held by them, of the Ontario Power Service Corporation. Hon. J. R. Cocke, Chairman of the MHMydro Commission, on March 15, replied that the Government was not aware of the names and addresses of the bondholders and the amounts held by them respectively. T 5 Yesterday Premicr Henry rose and explained that when this reply was given the Government did not know the names of the bondholders. "But since that time the Hydro Commis-- sion has asked for a list, and I now place on the table of the House the list as furnished by the Montreal Trust Company." _ Y And the list of thousands of nameos tabled confirmed the reports which have persisted in respect to compani~s with which Right Hon. Arthur Meigh-- en is associated, and which are hold-- ers of the bonds. But this list is only of those who have transferred their bonds to the Hydro Commission for bonds of the Commission as provided in the purchase deal. About 3 per cent. of the total bonds of the Ontario Power Service Corporation have not k:en turned in on the transfor. Amounts Held, The list shows that the Canadian General Investments, Ltd.. owned $41,000 of the bonds; that the Third Canadian General Investment Trusts, Ltd., owned $15,000; that the Fourth Canadian General Investment Trusts, Ltd., owned $24,000; that the Cana-- dian General Insurance Company owned $55,000; the London and Western Trusts Co., $35,000, and the Dealers' Finance Corporation, L{d., owned $43,000. Of these companies, Kight Hon. Arthur Meighen is listed as President of the Canadian General Securities, Ltd., parent company of the Canadian General Investments, Ltd.; as Presi-- dent of the Dealers' Finance Corpora-- tion, Ltd., and London & Western Trusts Company. He is also Chair-- man and Managing Director of the Canadian General Insurance Com-- pany, and of the Third and Fourth Canadian General Investment Trusts, The North American Life Assurance Company, of which Premier Henry is a director, owned $200,000 of the pany, $30,000; Toronto General Trusts Corporation, $104,000; Trusts & Guarantee Company, $100,000; Wood, Gundy & Company, Ltd., the bonds were: Canadian General FElectric, $500,000; A. E. Ames & Company, $150,000; Imperial Life As-- surance Company, $200,000; Manu-- facturers' Life Assurance Company, $200,000; Mutual Life Assurance Com-- pany, $200,000; Noranda Mines, $50,-- 000; Toronto Genera': Insurance Com-- London Cana@dian Investment Cor-- $582,000; Sir Robert Borden, $30,500; British Overseas Bank, $300,000; Some of the other large holders of and sales of their various under which cireumstances S. C. Tweed (Liberal, Waterloo North), who was formerly associated with the Ontario Equitable Insurance Company of Waterloo, told The Globe | that that company had $25,000 of the bonds. RAamsaA The connection of the Montreal Trust Company with the purchase of the bonds was also given by the Prime Minister in reply to a question of Mr. Nixon. It was as follows: '"On Aug. 5, 1932, the Montreal Trust Company was, by letter from the Chairman of the Hydro--Electric Power Commis-- sion, requested to act as depositary for the Commission in connection with the public offer of that date made by the Commission to the bondholders of t,htei Ontario Power Service Corpo-- ration. "The Hydro--Electric Power Commis-- sion in the judicial proceedings tend-- ered $14,000,000 for the property. In these proceedings, Tilley, Johnston, Thomson & Parmenter were acting only for the Montreal Trust Com-- pmy."-- _ L sw 2% 3 see a "i think almost every insurance company had some of the bonds. The reason they did was because the On-- tario Power Service Corporation had the contract with the Hydro, and it looked like a good investment," Mr. Tweed said. APri STATEMENT MADE TO LEGISLATURE "In the year 1929 and early in 1930 the Hydro--Electric Power Commission received applications from several min-- ing companies in Northern Ontario for a supply of between 40,000 and 50,000 hp., and, with these ap-- plications before it, the Commission made extensive investigations looking to the construction of different power Ratification of the pur-- chase of the Ontario Power Service Corporation project on the Abitibi, which involves the Ontario Hydro--Electric Commission taking over bonds of the company, was asked for in a bill introduced in the Legislature yesterday' by the Prime Minister, just prior to the disclosures in respect to the holding of some of the bonds by the Premier and by Right Hon. Arthur Meighen, as well as by companies with which they are associated. Power to Take Over. Ratification of Purchase of Canyon Project Is Asked For in Bill Pre-- sented to the House --' T ransaction Explained by Premier "On Nov. 11, 1926, water power lease No. 26 was granted to Hudson's Bay Powcr Company, Limited, cover-- ing the lands and water powers on the Abitibi River, commonly referred to as the Canyon development. Hud-- son's Bay Fower Company, Limited, is a company incorporated under the Ontario Companies Act, and all of its stock was owned by Abitibi Power and Paper Company, Limited. After the lease was granted and for several years prior to 1930, representations were made to the Government and to the Hydro--Electric Power Commis-- sion of Ontaric that it was desirable to provide a large supply cf cheap electrical power, not only for the pur-- pose of enabling further development in the newsprint industry, but for the general needs of Northern On-- tario, and particularly to encourage and assist the development and oper-- ation of mining. l i The Prime Minister, in a lengthy statement, reviewed the whole under-- taking, and the developments leading up to the negotiations to purchase. He told of the wonderful power possibili-- ties, and of how the Ontario Power Service Corporation had b:come in-- volved in difficulties before it could complete the project. The Hydro had a contract with this company for power, and, by reason of it, the Prov-- ince was under some obligation, he said. He then outlined the negotiations of last summer, as a result of which it was decided to take the project over. Statement on First Rcading. The bill, in brief, cloaks the Hydro with power to take over and proceed with the development, and enables it to issue debentures, guaranteed by the Province, in place of the bonds which it is taking over. _ , f & Premier Henry's first statement on introducing the Abitibi power bill and reviewing the company's history follows: