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e 1 Maxrch 20 lalli | JOMIITTE RETETS _ | f To Bad Publicity _ ' In Security Sales As Attorney--General Leslie Black-- well's new Securities Act, designed to protect the public against secur-- ity frauds, was advanced through committee stage in the Legislature yesterday, C.C.F. Opposition Leader E. B. Jolliffe drew the attention of the House to the unfavorable pub-- licity Ontario was receiving from the conditions the act aims to cor-- rect. Regulations to restrict use of the telephone in securities sales toi the public were under discussion at| the time. ! Mr. Jolliffe told of a radio drama--| tization broadcast from a Buffalo| 'radio station at 7 p.m. Saturday,, "Hopes, not expectations," re-- sponsored by the Buffalo Better marked Mr. Jolliffe. Business Bureau, telling how the Answering a question by the widow of a United States naval com-- _ Opposition Leader, Mr. Blackwell mander lost at sea had been said the new Securitiee Act will be swindled through high--pressure proclaimed not earlier than mid-- telephone calls from a Toronto deal-- _ May or the beginning of June, ex-- er in mining stock. The dealer had |Plaining: "The act, we feel, should| told her, Mr. Jolliffe recounted, that not be proclaimed until the com-[ only two blocks were left of a mission is appointed and has con-- "valuable" mining stock. She in--. |sidered administrative practices." ! ) vested several hundred dollars, and, Companion Bill Read 54 as the result of a second call, A companion measure respecting! bought more. The end of the broad-- prospecting syndicates having a| cast was that the widow lost her capital not exceeding $10,000 also} all. went through committee yesterday, Effect Damaging as well as Health Minister R. P. "The effect of such broadcasts is |Vivian's act to amend the Public! very damaging to this country, this Health Act. It provides that au--] Province and to the development of |thority for installation of sanitaryl the mining industry," Mr. Jolliffe conveniences in premises, with pay-- declared. '"There was a reference, |ment by the owner over a period up, however, at the end of the broad--, |to five years, be extended to all cast to the Attorney--General by| municipalities. | name and to the new bill he isl William Dennison (CCF., Toron-l sponsoring to prevent the recur-l to--St. David) objected that munici-- rence of such tragedies. I hope it| |palities first should have sewage will prove justified, but I am not |disposal plants as well as sewerage sure. The Province is getting a |systems before scrapping septic great deal of very bad publicity." tanks, and feared pollution of riv-- Mr. Blackwell pointed out that |ers and streams. He said 14 cities (the species of transaction referred |and 50 towns in Ontario have no 'to in the broadcast would not be |sewage disposal plants. Dr. Vivian, legal under the telephone provisions |however, pointed out that munici-- in the new act which requires that |palities would be enabled to proceed a prospectus be supplied to pros-- |to build them as soon as materials| pective purchasers. Securities men |and labor are obtainable and that, themselves realize," he said, "that lwith the advice of sanitary officers such practices are damaging, that's javailable, the danger mentioned by why they have been so co--operative Mr. Dennison was "more imagined in accepting the provisions of the than real." He cited reductions ' act. I hope Mr. Jolliife's expecta-- achieved in the incidents of typhoid. § tions will be achieved by it." ? \ !