Mr. R. A. PRINGLE (Stormont) moved :
That this House do not insist on their amendments to the Bill (No. 127) respecting the Dominion Guarantee Company, Limited, and that a message be sent to the Senate to acquaint their honours therewith.
He said : I may explain that I find it
will become necessary, in order to get over a little difficulty in connection with this Bill, to introduce a short amending Bill, and I shall ask leave of the House to that end. Perhaps this would be the time for me to state the reasons. When the Bill
was before the committee, the general borrowing powers were struck out. The Dominion Guarantee Company have erected a building in the city of Montreal, and so it has become necessary for them to borrow the sum of $55,000. The Bill legalizes and declares valid that mortgage, but does not give the company power to borrow the money that may be necessary in the event of their being called upon to pay off the mortgage. I shall ask leave to introduce the Bill and would request the House to give it its first and second readings that it may be referred to committee. I have the enacting clause of the Bill here, though I have not it in the form of a Bill.
Subtopic: DOMINION GUARANTEE COMPANY.