Mr. DUNNING: (Minister of Finance and Receiver General)
1. Central Finance Corporation; Personal Finance Corporation and The Small Loan Company of Canada.
3. Central Finance Corporation, directors:
B. E. Henderson, F. B. Hubachek, A. P. Reid, D. D. Macleod, and W. H. Despard. Incorporated June 11, 1928.
Personal Finance Corporation, provisional directors as at date of incorporation July 3, 1934 (not yet organized): Albert Burton Rose, Morris Jacob Weiss, and Sidney Druck-man.
The Small Loan Company of Canada, provisional directors as at date of incorporation July 3, 1934 (not yet organized): R. J. Cutten, E. L. Chudleigh, A. D. H. Cutten,
C. L. Dunbar, and A. C. Dunbar.
4. (a) Under the acts of incorporation of the companies: interest, 7 per cent per annum in advance; expense charge, 2 per cent of the amount of the loan; chattel mortgage fee, actual disbursements not exceeding $10. (b) Under the act, chapter 56 of the statutes of 1934, the foregoing charges must not exceed 2i per cent per month of the monthly balance owing by the borrower.
5. The government has no power to cancel the acts of incorporation of companies restricting their charges to those mentioned in No. 4.
Subtopic: SMALL LOAN COMPANIES