May 13, 1921 (13th Parliament, 5th Session)

UNION

Robert King Anderson

Unionist

Mr. ANDERSON:

I was not in communication with the Bank of New York, and as the annual report does not give that statement, I cannot inform the hon. member. He should have seen that it appeared in the Annual Report of 1915; if it were in the report I should be glad to read it to him. The Grain Growers' Company, the parent company, the owner of all the subsidiary companies, according to the sworn testimony of Mr. Cecil Rice-Jones, vice-president and manager, given before a committee of this House, made profits in the year 1916 of 66.2 per cent on paid-up capital. The hon. member for Frontenac, said it was 62.6 per cent, but the difference is small in any event, and either of us may be wrong. In 1917, according to the same testimony, they made profits amounting to 44.92 per cent on paid-up capital, and in 1918, 19.7 per cent on paid-up capital.
I would not object to these profits, Mr. Speaker, but for the statements made by members of the Agrarian party. In 1920,

Topic:   THE BUDGET
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