April 1, 1938 (18th Parliament, 3rd Session)

LIB

Clarence Joseph Veniot

Liberal

Mr. VENIOT:

I think the intention of the company was not to make anybody on the street a director of the company. Perhaps it might be appropriate to give a few words of explanation in order to clarify the situation. In 1910, when the act respecting the Restigouche Log Driving and Boom Company was passed, logging and boom operations on the Restigouche river, or in the region surrounding the river, were confined chiefly to companies whose mills and head offices were located in Campbellton or Dalhousie or in the neighbourhood of the Restigouche river. The act specified that every owner of 100,000 superficial feet and upwards of logs intended to be handled by the Restigouche Log Driving and Boom Company may become a member of the company, and may attend and vote at all meetings for the fiscal year of the company.
Since that time the long lumber industry has practically gone out of the picture in the neighbourhood and has been replaced by the pulp and paper and rayon industries, in the hands of large corporations, such as The New Brunswick International Paper Company, Fraser Companies Limited, and others, with head offices and boards of directors located in the large cities, such as Montreal

and Toronto-, but with their operations still continuing in Campbellton, Dalhousie or other points in the neighbourhood of the Restigouche river.
It is to overcome this handicap of being obliged to send representatives, either directors or managers of the company, to attend these meetings, that this request is made. I think the companies would be desirous of having as their representative in the neighbourhood somebody who is more conversant with the logging and booming operations, such as, for example, the manager of a company located in Campbellton who knows exactly what the requirements of logging and booming may be. I think it might be appropriate to change the wording specified here to "a shareholder authorized by resolution of the directors of a corporation, which is a member of the company."

Topic:   THE RESTIGOUCHE LOG DRIVING AND BOOM COMPANY
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