March 20, 1905

LIB

William Stevens Fielding (Minister of Finance and Receiver General)

Liberal

Mr. FIELDING.

Perhaps in the rate of interest, or in some such way as that the Dominion might be a contributor. It is not intended to be, in the common meaning of the word, old age pensions, but a system of old age annuities. My right hon. colleague the Minister of Trade and Commerce has given the matter considerable attention and a Bill is being prepared which we expect to introduce this session. I should have explained that when the objection was taken in the committee to the title, ' Dominion Annuity Company,' the hon. gentleman in charge of the Bill, after consultation with one of the promoters who was at hand, suggested that the name should be changed to ' Manitoba Annuity Company.' Of course, if Manitoba should some day issue annuities, the same objection might be advanced. Therefore, on further consideration, the promoters decided to ask that the name should be 1 Annuity Company of Canada ' and an amendment to that effect will be moved.

Topic:   DOMINION ANNUITY COMPANY.
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LIB

Hance James Logan

Liberal

Mr. LOGAN.

I do not see that there is very much improvement in this change of name. Why not make it ' The Western Annuity Company.'

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LIB

William Stevens Fielding (Minister of Finance and Receiver General)

Liberal

Mr. FIELDING.

We have already one western Bill before the committee, that of the Western Life Insurance Company-to say nothing of another western question we may have.

Topic:   DOMINION ANNUITY COMPANY.
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CON

Robert Laird Borden (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. R. L. BORDEN.

I do not see that there is any objection.

Topic:   DOMINION ANNUITY COMPANY.
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LIB

William Stevens Fielding (Minister of Finance and Receiver General)

Liberal

Mr. FIELDING.

I think the name now proposed is a reasonable one.

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LIB

Charles Smith Hyman (Minister Without Portfolio)

Liberal

Mr. HYMAN.

I move that section 1 be reconsidered and that the name be changed to ' The Annuity Company of Canada.'

Topic:   DOMINION ANNUITY COMPANY.
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Motion agreed to. M Bill reported. Mr. BOLE moved the third reading of the Bill.


CON

George Eulas Foster

Conservative (1867-1942)

Mr. FOSTER.

If the House has no objection, I would rather that this Bill should be left over in the meantime. I would like the promoter to think over the question of

the name. The change may have been made without careful consultation. At first, it did not seem to be very objectionable. But, as we consider it, it becomes evident that other annuity companies, to be incorporated hereafter will be debarred from getting the best name. It may be said that this company is the first in the field, and should have the choice of names. While there is something in that, yet, I think it would be giving this company an unfair advantage to allow it to be known as ' The Annuity Company of Canada '-the name of this whole vast realm-so that companies coming later must use some less pretentious and less inclusive, title. I think it might be fairly considered whether this would not be giving them an unfair advantage.

Topic:   DOMINION ANNUITY COMPANY.
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LIB

David Wesley Bole

Liberal

Mr. BOLE.

I appreciate the point made by the hon. gentleman (Mr. Foster), but I think that as this is the first annuity company, they are entitled to the advantage that comes from being first in the field. I might remark also that the name that has been put in the Bill was the second choice made at a full meeting of the promoters. Also a leading promoter consulted with the officers of the department on Saturday and there appeared to them to be no objection ; in fact, they regarded it as a very happy and proper name to give the company. I think, that, under these circumstances, the Bill should be allowed to go through.

Topic:   DOMINION ANNUITY COMPANY.
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CON

George Eulas Foster

Conservative (1867-1942)

Mr. FOSTER.

Second thoughts are sometimes best. I think there should be time for consideration.

Bill reported.

Topic:   DOMINION ANNUITY COMPANY.
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LIB

Robert Franklin Sutherland (Speaker of the House of Commons)

Liberal

Mr. SPEAKER.

When shall the Bill be read the third time ?

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CON
LIB

Robert Franklin Sutherland (Speaker of the House of Commons)

Liberal

Mr. SPEAKER.

At the next sitting of the House.

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CATHOLIC MUTUAL BENEFIT ASSOCIATION OF CANADA.


House went into Committee on Bill (No. 93) respecting the Grand Council of the Catholic Mutual Benefit Association of CanT ada.-Mr. J. J. Hughes. On section 2-sick benefit fund


CON

George Eulas Foster

Conservative (1867-1942)

Mr. FOSTER.

I suppose this follows the rule ?

Topic:   CATHOLIC MUTUAL BENEFIT ASSOCIATION OF CANADA.
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LIB

William Stevens Fielding (Minister of Finance and Receiver General)

Liberal

Mr. FIELDING.

Yes, It has been carefully examined by the officials.

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LIB

Louis Philippe Demers

Liberal

Mr. L. P. DEMERS.

As I understand this section it provides that there is to be this fund, but if there is a loss, society is not bound to pay. I think the promoter should explain.

Topic:   CATHOLIC MUTUAL BENEFIT ASSOCIATION OF CANADA.
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LIB

James Joseph Hughes

Liberal

Mr. J. J. HUGHES.

The object, as I understand, is to enable the association to rstablish and maintain a special fund to be known as the sick benefit fund. Assessments will be levied for this fund, and the fund thus created will be available as far as it goes. It will be for the officers to provide a sufficiency. This Bill is substantially the same as was passed in 1903 for the Woodmen of the World, a similar assessment society.

Topic:   CATHOLIC MUTUAL BENEFIT ASSOCIATION OF CANADA.
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LIB

Louis Philippe Demers

Liberal

Mr. L. P. DEMERS.

It does not seem to be very reasonable that this association should establish a fund like that. If there is a benefit, they are going to take it ; if there is no benefit, they will not get the advantage. They have two funds, as I understand ; they have the sick fund and a general fund. If the sick fund is profitable, they are going to take it; if it is not profitable, they are not responsible for any deficit.

Topic:   CATHOLIC MUTUAL BENEFIT ASSOCIATION OF CANADA.
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March 20, 1905