I was going to bring proof after the recess of the allegations I made that behind the opposition to the proposed Carillon power development there was a "power monopoly." In this connection I would like to refer to an article published under a New York date in the Financial Review of Montreal, in which it is plainly pointed out that Mr. A. Robert, of Montreal, who is the president of the National Hydro Electric Company has been ousted as president of the Montreal Tramways Company and as president of the Quebec-New England Hydro Electric Corporation and is a big factor in the Quebec power industry because he insisted upon going ahead with his plans to develop water-power on the Ottawa river, and give to the people cheap and abundant electricity. The article reads as follows:
The report that Sir Herbert Holt has bought control of the Duke-Price Power Company has attracted some attention in local financial houses interested in the larger aspects of the international power situation. If this is the case, the change thus indicated in the alignment of the financial powers behind the big power development companies in the province of Quebec, indicates victory for the Canadian interests in the big battle now under way for control of the water-powers oP the province. According to local informants the first victory in the battle was won when Mr. Robert was ousted as a big factor in the Quebec power industry, and the second was the success of the big power companies in getting back of them the governments of the two provinces in their fight against the exportation of power to the United States. The third was the refusal within the past two weeks of a syndicate, headed by one of the best known bond underwriting houses in the United States and Canada, to take a $10,000,000 issue to finance the Carillon development. The fourth is apparently this move on the part of the big Montreal power interests to gain control of the $50,000,000 power development on the Saguenay,
Mr. Chairman, I would call special attention to this paragraph:
"The success of the big power companies in getting back of 'them the governments of the two provinces
Supply-Trade and Commerce
in their fight against the exportation of power to the United States." ,
That statement is certainly startling.
Topic: SECOND READINGS