April 17, 1905 (10th Parliament, 1st Session)

LIB

Archibald Campbell

Liberal

Mr. CAMPBELL.

Of course I have no particular interest in this Bill and no desire to give this company any extraordinary powers. I understand it was copied from other Bills which have passed this House. There are to-day trust companies operating in Canada under provincial charters. There are three in active operation in Ontario with Dominion charters-the Trust A Loan Company, the Imperial Trust Company and. the Canada Trust Company. There are four charters also in Quebec, the companies holding which have the right to operate in Ontario, and I understand that the provisions of this Bill are exactly the same as those in other and similar charters. If the powers are too wide, you can amend them, but it seems to me you are drawing a very fine distinction. These powers are only given the company with reference to its own capital or its reserve or accumulated profits and we must suppose that intelligent business men will not invest their own funds In wild cat schemes.

Topic:   PRIVATE BILLS.
Subtopic:   TITLE, GUARANTEE AND TRUST COMPANY.
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