There are a few words I wish to say on clause 1, but if the sponsor wishes to speak I would be glad to yield to him. If not, I may say that when the hon. member for Churchill spoke to this bill on second reading, he had occasion to refer to a relationship that might exist between this company and Trans-Canada Pipe Lines. I began to wonder whether there might be any more connection than the one the member indicated when he spoke on March 2 of this year. Accordingly, I did what is often done around here and went to such well known documents as Moody's Industrials, the Directory of Directors, the Financial Post Survey of Industrials, Who's Who in America, and Moody's Public Utilities.
I went to these documents for the purpose of trying to find out just who were the individuals who were tied in to this company. As the member for Churchill stated, the company which is sponsoring Hydrocarbons Pipeline Limited is Canadian Hydrocarbons Limited. I found in one of the documents to which I have referred a list of the directors of Canadian Hydrocarbons Limited. It is true that four or five of them are residents of Canada, but at least two of them are residents of the United States. One of them is Mr. J. R. Dempsey, of Libertyville, Illinois. I have not as yet run down his pedigree. Another is Mr. C. S. Strike, who lives at West Hartford, Connecticut. I find that this Mr. C. S. Strike is also president of F. H. McGraw and Company of Hartford, as well as being president or chairman of the board of a number of other companies. F. H. McGraw and Company is associated with the Power Corporation of Canada in ownership of the F. H. McGraw Company of Canada. The president of the Power Corporation of Canada is Mr. P. A. Thomson, a member of Nesbitt, Thomson and Company of Winnipeg, which is now known as N. T. Investments Limited. That firm, N. T. Investments Limited, I understand, holds something of the order of 70,000 shares in Trans-Canada Pipe Lines Limited.
I find also, Mr. Chairman, that the same Power Corporation of Canada has a substantial interest in the Anglo-Canadian Oil Company, which also has an interest in Trans-Canada Pipe Lines Limited. I find also that the chairman and treasurer of Anglo-Canadian is Mr. H. R. Milner, who is also on the board of directors of Trans-Canada Pipe Lines Limited.
It so happens that I have on my desk quite a number of sheets of paper, and I have one of these interesting charts showing all of the involvements of these people. I do not intend to go into the full details, but I think I have given enough to indicate that there seems to be building up once again in this whole pipe-line business-both gas and oil-another of those interlocking directorates where a few people get a stranglehold on something that is pretty important to the people of Canada as a whole.
The other day the Minister of Agriculture expressed some misplaced anxiety lest we in this party were not still concerned about the 50 big shots of whom we used to speak some years ago. We are afraid, Mr. Chairman, that in this field some super big shots are being built up by these various companies that parliament is incorporating, through these charters that are being granted. I suspect the day will come when we shall find that parliament has facilitated by a number of these simple little bills the building up of an octopus in the oil and gas and fuel and power industry in this country. We feel that this house does not know enough about all this business to be called upon to deal with bills of this kind.
Subtopic: HYDROCARBONS PIPELINE LIMITED