April 12, 1910 (11th Parliament, 2nd Session)

LIB

George Gerald King

Liberal

Mr. KING.

It has become impossible to disassociate in the popular mind the two outstanding phenomena, the one a matter of daily observation, the other of daily experience, and the public has come to believe that in some way, or to some degree, the increased cost of living which it has had to bear is in some hidden or unfathomable manner linked up with these uncontrollable aggregations of wealth representing gigantic interests and possessing gigantic powers. I was just about to mention

that there are innumerable instances of mergers alleged to have been formed during the present year. In the Halifax ' Chronicle ' of February 21 it is stated that:
The Engineering and Mining Journal of New York, one of the chief authorities of the iron and steel trade says in its current issue that reports come from Montreal and Toronto that negotiations are in progress for consolidation of Canadian iron and steel interests, somewhat on the line of the United States Steel Corporation.
The ' Canadian Miller and Grain Elevator ' of March, 1910, refers to alleged mill mergers. That paper says:
_ It is believed that abont ten mills are being considered in connection with the merger.
The Hamilton ' Times ' of February 21 talks about a proposed consolidation of all the gas companies in the Haldimand field. Various references have been made in the press to a formation of a giant merger of all the canned fruit and vegetable interests of eastern Canada. The Hamilton ' Times ' of March 2 deals at Some length with this merger. The Montreal ' Star ' of February 16 refers to an alleged combine of four of Cobalt's richest silver mines. The Toronto ' World ' 'of December 30 refers to an amalgamation of the leading electrical machinery construction companies in Canada for the purpose of avoiding future cutting of prices. The Montreal ' Star ' of December 19 refers to the big works of the Toronto Bolt and Forging Company, Limited, at Sunnyside and Swansea, employing some hundreds of men, and said to be the centre of a big consolidation that will represent at least $1,000,000 of invested" capital. The Toronto ' Star ' of February 11 talks about several navigation companies alleged to be forming a consolidation. The Toronto ' Globe ' of January 21 refers to a combine in the asbestos trade. The same paper of February 24 refers to a combine among some of the Montreal railway and power companies. The Montreal ' Gazette ' of January 26 refers to mergers of the various properties of the Canadian Electric Company, the Quebec Railway, Light and Power Company, the Jacques Cartier Light and Power Company, the Frontenac Gas Company, and the Quebec Gas Company. The ' Mail and Empire ' of February 1 has a reference to a merger in the fish business on the Atlantic coast. And another reference to that merger is made in the Toronto * Star ' of February 16. The Manitoba ' Free Press ' of December 1 speaks of a grain combine among the grain dealers. Mention is also made in the Toronto ' Star ' of February 11 of an alleged combine among Canadian insurance companies, and the Manitoba ' Free Press ' of December 11 also takes up that question.

Topic:   COMBINES INVESTIGATION ACT.
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