Right Hon. C. D. Howe (Minister of Trade and Commerce):
Mr. Speaker, on February 19 I answered several questions on the subject of stock options for senior officials of Trans-Canada Pipe Lines. I now find that my memory was at fault, and that in fact, when the government entered into the agreement on May 8, 1956, copy of which was tabled in the house on May 9, I was aware of the fact that there were options outstanding.
I apologize for having inadvertently misled the house, but in fact hon. members have had the document referring to the options available to them since May 9, 1956. However, I should add that I am still of the view that there is nothing improper in the directors of Trans-Canada having granted stock options to certain of the corporation's employees and officers, upon whom in large measure the success of the enterprise has depended and will depend.
Subtopic: TRANS-CANADA PIPE LINES-STATEMENT ON STOCK OPTIONS FOR SENIOR OFFICIALS