June 19, 1905 (10th Parliament, 1st Session)

CON

Frederick Debartzch Monk

Conservative (1867-1942)

Mr. MONK.

I think my right hon. friend is mistaken. I think there was at that time a provision in the law that the majority -of the directors should be Canadian. In fact I know of only two Americans on the board, Mr. I. McMichael himself and Mr. B. Brooks. The others are Canadians. Mr. Hugh M. Baird, Mr. Adam Brown, Mr. W. C. Matthews and Mr. James Hedley and the late Hon. Mr. McOougall were the Canadian directors. But I do not think the board has sat at all with regard to any of these changes. I am informed it was never consulted and that the changes were carried out entirely by the American interests, irrespective of what the Canadian directors might do or think.

Topic:   BANK ACT AMENDMENT.
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