April 1, 1938

CON

Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BENNETT:

No; that is not the fact. The original act provides that no one shall be qualified to hold office as a director unless he is a member of the company or a director or the manager of a corporation which is a member of the company. That is the present position. This amendment provides that the directors of this shareholding corporation can pass a resolution naming the deputy clerk sitting at the table a director of the boom company.

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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LIB

Clarence Joseph Veniot

Liberal

Mr. VENIOT:

Would not the difficulty be overcome by changing the wording and substituting the words "or a person who is an employee of one of the companies authorized by resolution"?

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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CON

Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BENNETT:

All that would be necessary to do to meet what the hon. gentleman has in mind is to delete the word " person " and substitute therefor the words "or a member of the corporation which is a member of the company." He could be then given a qualifying share and we would be maintaining the theory which has always prevailed with respect to corporations. I do not wish to embarrass my hon. friend with his legislation, but I think it is my duty to point out that we are creating a dangerous precedent when we say that the board of directors of a corporation that happens to be a shareholder in a company can meet together and pass a resolution appointing a stranger to be a director of the company. That would be a dangerous thing to do as some one else will be coming here next year and wanting the same thing.

Canadian Pacific Railway Company

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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LIB

Clarence Joseph Veniot

Liberal

Mr. VENIOT:

According to the suggestion of the leader of the opposition, the person who would become a director would have to be a member of one of the individual companies, whether he owned one or a greater number of shares. I think that difficulty could be overcome by changing the wording to that effect.

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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CON

Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BENNETT:

All you need to do is make the change I have suggested.

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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LIB

Clarence Joseph Veniot

Liberal

Mr. VENIOT:

I see no reason why a member of one of these corporations could not be found in Campbellton or Dalhousie where the business is carried on.

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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CON

Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BENNETT:

The Minister of Fisheries can see that this is a fair suggestion. He is interested in this company as it runs logs down the Restigouche. I have no interest in the matter except the interest I always have when a precedent is being established that may create trouble for everyone in the future.

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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LIB

Joseph Enoil Michaud (Minister of Fisheries)

Liberal

Mr. MICHAUD:

I move that the committee rise, report progress and ask leave to sit again.

Progress reported.

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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CANADIAN PACIFIC RAILWAY COMPANY


Mr. J. M. TURNER (Springfield) moved the second reading of Bill No. 67, respecting the Canadian Pacific Railway Company. Motion agreed to, bill read the second time, and the house went into committee thereon, Mr. Johnston (Lake Centre) in the chair. On section 1-Power to lease.


LIB

Clarence Decatur Howe (Minister of Transport)

Liberal

Mr. HOWE:

I should like to know why this matter has been brought before parliament in this form rather than having been referred to the board of railway commissioners. I have no objection to the objects sought to be achieved by the bill as I am familiar with the situation, but the Railway Act provides that a lease can be arranged by the board of railway commissioners when each party to the lease has approved the terms thereof by vote of two-thirds of their shareholders.

Topic:   CANADIAN PACIFIC RAILWAY COMPANY
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LIB

John Mouat Turner

Liberal

Mr. TURNER:

I can give the full particulars if I am permitted to make a statement at this time.

Topic:   CANADIAN PACIFIC RAILWAY COMPANY
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LIB

Clarence Decatur Howe (Minister of Transport)

Liberal

Mr. HOWE:

I am not objecting to the principle; I am simply saying that this is an unusual way to deal with the matter when the necessary machinery has been set up under the Railway Act.

Topic:   CANADIAN PACIFIC RAILWAY COMPANY
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CON

Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BENNETT:

Has the bill been to the railway committee?

Topic:   CANADIAN PACIFIC RAILWAY COMPANY
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LIB
CON

Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BENNETT:

Would it not be desirable to move now that it be referred to the railway committee?

Topic:   CANADIAN PACIFIC RAILWAY COMPANY
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LIB

Clarence Decatur Howe (Minister of Transport)

Liberal

Mr. HOWE:

The purpose of the provisions of the Railway Act is that interested parties shall be heard, and with the permission of the sponsor I move that this bill be referred to the standing committee on railways, canals and telegraph lines.

Topic:   CANADIAN PACIFIC RAILWAY COMPANY
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LIB

John Mouat Turner

Liberal

Mr. TURNER:

That will be quite satisfactory to me, Mr. Chairman.

Section stands.

Topic:   CANADIAN PACIFIC RAILWAY COMPANY
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Motion agreed to, and bill referred to the standing committee on railways, canals and telegraph lines.


NIAGARA FALLS OBSERVATION BRIDGE COMPANY

April 1, 1938