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3 ~Every broker must file a bond of $500. â€" This is done to give the Attorâ€" neyâ€"General‘s department an opporâ€" tunity of controlling the assets of a defunct broker who has defrauded the public, otherwise the assets may be frittered away. The registrar may refuse registration within a tenâ€"day period after application if directed by the Attorneyâ€"General to do so.. The refrlstrar ma), on direction of the Attorney-Genera] demandedâ€" a substantial bond by a surety company as a condition precedent to doing business. This is intended to cover our citizens are not going to be deâ€" frauded. I may say the bill has the approval of all the industrial, bankâ€" ing and brokerage organizations of the country. Naturally it would not have approval of the man who sells erooked securities, but I think you will welcome an Act of this kind.‘" (Applause). e L wa #a *In approgching this it was realizâ€" ed that while there are a great many securities that can be sold without any possibility of fraud, and these have been exempted, the main thing is to regulate the person who is going to sell securities, and that is the corâ€" nerâ€"stone of the bill. Exemptions have been made on judicial sales or isolated transactions by the owner. provided they are not such continuous and successive transactions as to make him a brokex. ‘*The aim has been not to single out any class of stock, mining or otherâ€" wise, but to put all stocks on one basis and practically control this matter by registration of broker and salesmen, and by exacting necessary bonds from time to time. If the fraudulent foreign salesman is here he must give some security to this country that *The measure is drawn,‘‘ the minâ€" ister said, ‘‘from the experience gainâ€" ed in the various laws of Amercian States and also those of our own proâ€" vinces in Western Canada, and it also combines similar powers to those of the Martin Act, of New York, where the Attorneyâ€"General is given power to cancel registrations and make inâ€" vestigations, and appeals are made, after a limited period, to the Supreme Court. There is no commission to be creatâ€" ed for passing upon securities, as proâ€" posed by the Raney bill a few years ago. The existing machinery of the Attorney-General ‘s department will be utilized, and it is possible that some parts of the Act may be put inâ€" to effect later than others, in oxrder that there may be full preparations, and no false starts. The wording of Act calls for it to come into forcee upâ€" on proclamation. . Providing for registration of brokers and salesmen, with wide powers to the Attorneyâ€"General to investigate, and with penalties of fine and impri- sonment to aid enforcement, Seâ€" curity Frauds Prevention Act was ihâ€" troduced in the Legislature last week by Hon. W. H. Price. All persons who sell securities, whether acting as officials or salesmen, are included in the Act, subject to certain specific exâ€" emptlons The.clauses defining fraud and fraudulent action are most comâ€" prehensive, including ‘‘generally any course of conduct or business which is caleulated or put forward with inâ€" tent to deceive the public or the purâ€" chaser of any security as to the naâ€" ture of any transaction or as to the value of such security.‘‘ All Brokers and Salesmen Selling Shares to Register Security Frauds Prevention Act Introduced in the Legisâ€" lature. Provides for Fines and Imprisonment for Imâ€" â€" proper Methods in Selling Stocks. Attorneyâ€"General‘s Department to Enforce Measure if Passed. The Mutual is one of the soundest companies in North America. Surplus ®tarnings in 1927 amounted to $50.45 per $1,000 of assets. Total assets were increased to $89,233,343. SULLIVAN NEWTON, District Managers k Ahn.i\ié Tha Cama â€" Best for all household purposes The Attorneyâ€"General may issue orâ€" ders to banks to hold funds. The Atâ€" torneyâ€"General may take bankruptcy proceedings where a broker ‘has beâ€" come lig@ble for fraudulent 4cts and is in an insolvent condition. There are certain exceptions.to the Act, and in connection with the folâ€" lowing no person need be registered : (a)‘ Judicial sales. (b) Isolated transactions by the owner provided they are not such conâ€" tinued and successive transactions as to make him a broker. (c) Sale of pledges for debt. ~(d) Distribution of stock dividends. (e) Transactions where one party is a public official, or a Bank, Loan, Trust or Insurance Company, or is registered. 3 . (£) Exchange of st’iock on meyrger. (g) Prospector‘s ‘grubâ€"stake, or share of mining property staked by (1) Shares of educational, benevoâ€" lent, fraternal, or recreational bodies where there is no pecuniary profit. North Bay Nugget:â€"â€"A town in Western Canada has not had a death in thirty years. But the roads are improving, and a speed: automobile may go through there yet. *Salesman‘‘ is defined as every personâ€"other than a broker, employed, appointed or authorized by any brokex or company to trade in securities, whether directly or through subâ€" agents. Local Distributorsâ€"National Grocers Co, Ltd., Timmins A. contravention of the act will bring a penalty of not more than $1000 for the first offence, nor $2,000 for the second subsequent ‘offence and in case of either a first or subsequent offence either in default of such payment or in addition, to imprisonment for a tery not exceeding six months. The Martin Act in New York gives imprisonment up to two years, but this Act, the Minâ€" ister explalns, will be admlmstered keeping in mind the Criminal Code as well as the provisions of the Act. (h) Trustee securities. (1i) Secured bonds or notes. (j) Negotiable paper. (k) Securities based upon condiâ€" tional sales. (m) Such other classes of securiâ€" ties as may be exempted by regulaâ€" tion. the case of foreign brokers and salesâ€" men, and others who may not be reâ€" putable, but who may be given a chance to do business ‘under proper bonding. Ontario JThe Famous Red Seal is "qour Guarantee of Puritg Made by O‘Keefe‘s Beverages, Limited, Toronto ‘‘Charged with theft by conversion, Morley F. Pumaville, lawyer, of Coâ€" balt, Ont., was taken into custody by Detective:Sergeants Wickett and Elâ€" liot and Provincial Inspector Ward last evening in a room on Jarvis street. â€" The prisoner is alleged to have obtained securities valued at $2,000 from a client in the North Country, which he sold using the cash accruing for his own purposes.‘‘ Thornloe correspondent of The New Liskeard Speaker last week says : ‘«Mr. Editor, I hasten to apo:hglze in stating ‘that Mr. W. Fogster‘s little girls who sing so nicely were twins. They are not twins but 3 and 4 years. Mr. Foster did state that they were twins but he meant at singing and he says when a fellow has 14 or 15 childâ€" ren ‘he forgefts sometimes ‘just off hand.‘‘ The steam plant for the Potterdoal Mines is now ready for operation, and accordingly progress should now proceed at a greater rate of speed. The new vertical shaft has been put down to about 50 feet by hand steel. The immediate objective is a depth of 300 feet. After that lateral work will be done at the 150 and the 300â€"ft. levels. A shaft is also being sunk on the highâ€"grade galena showing on the property. This shaft is now down more than 15 feet. | COBALT LAWYER IS HELD FOR THEFT OF SECURITIES. The Kapuskasing Courier last week says:â€"‘‘Mr. and Mrs. M. J. Tinkess, of Timmins, spent the week in town.‘‘ An item in The Mail and Empire, of Toronto, last week says :â€" The popular hit of the evening was Bandsman P. Cherry, whose piceolo solos won unstinted applause. Bandsâ€" man Cherry favoured the gathering with popular Irish airs given in able and spirited way, each selection bringâ€" ing the heartiest approval of the auâ€" dience. The next band concert will be on March 25th in the Goldfields theatre. There was a good attendante at the band concert in the Goldfields theatre on Sunday evening after the church services and the programme was very much enjoyed. Owing to the illness of the bandmaster during the week the programme was varied from what had been originally intended but the numbers as given proved popular and much appreciated by the audience. Bandmaster Wolno conducted the band as usual. The selections by the band were given with vim and effectiveness and found general favour. â€" The ‘band numbers were all very attractive and presented in talented way.. ‘The band selections were :â€" March, "* The King‘s Highway‘‘; overture, ‘‘Symâ€" bol of Honour‘‘; fantasia, ‘‘Golden Memories‘‘; overture, ‘*The Golden Crescent‘‘; march, ‘‘Wide Awake.‘‘ The instrumental quartette by Bandsmen [(Wolno, Maltais, Johns and Perregault was a pleasing number, well given, and was received with approval Vocal solos by Bandsman J. B. Pare made an especial hit. Mr. Pare has a remarkably fine voice and knows how to use it, and his numbers were warmly encored on merit. He sang in both English and French and in both, won the full approval of the audlence STEAM PLANT NOW READY FOR THE POTTERDOAL MINE. ‘*Despite the disinterested efforts of Mayor Charlebois, The Regal Thekhtre management, Ernest Hibbert, manaâ€" ger of the Horne, and many others, the dirty tongue of a certain alderman managed so to smirch the affair that the contribution of Rouyn to this good cause was nothing short of disâ€" graceful. London, ‘Eng., Punch:â€"A. contemâ€" porary states that there are two Rusâ€" sian lunatics who think they are Trotâ€" sky. It does. not say which one of them is right. â€" ‘*The action of the Regal Theatre in turning over their entire theatre, their employees, lights and an exâ€" tremely wellâ€"known feature picture is one that will not forgotten. Neither will that of the Copper Mines Club in furnishing their ‘excellent orchestra, which played through both performances without recompense of any kind. Neither will that of ‘Ike‘ Beaudry who gave such a splendid demonstration of his ability as an ecâ€" centric dancer. “Thmklng to make political capital out of @ charitable and worthy cause this alderman spread stories calculatâ€" ed to hurt the project. That, comâ€" bined with a bitter cold night, made the attendance at the benefit show pitiful. "‘"As it is, Mayor Charlebois, who acted as treasurer of the fund, has but a little over $200, not much of a sum as coming from mining towns like Rouyn. and Noranda. It is proâ€" bable that this will be increased someâ€" what within the next week as the main offices of some of the larger minâ€" ing companies hfve promlsed checks. ‘‘Neither will that of the alderman whose ‘‘pullâ€"back‘‘ tactiecs made the affair a fizzle.‘‘ Brideâ€"‘‘Where‘s the paper plate I gave you under your pie?"‘ Groomâ€"‘‘Was that a plate? I thought it was the lower erust.‘‘ â€"Exchange. ‘‘When I was a little boy,"‘ sweetâ€" ly piped the hardâ€"boiled sergeant, ‘‘I had a set of wooden soldiers. One day I lost these soldiers, and I cried very much, but my mother said, ‘Never mind, Johnny, some day you will get your wooden soldiers back.‘ And believe me, you bunch of woodenâ€" headed dumbbells, that day has come.‘‘ %e difference between Spending and Buying Money is no object. Tomorrow is uncertain so why not enjoy today to the utmost? Never having learned even the rudiments ~of thrift, Dick cannot withstand the impulse to gratify passing fancies. He is a man who continually flounders in the morass of financial embarrassment. Today, Dick is popularâ€"but worried. At fiftyâ€"five or sixty he is bound to be brokeâ€"a dependent old MANUFACTURERS â€" LIFE When Dick Spends Start your way to independence by buying Endowment Insurance. At fiftyâ€"five or sixty it will replace your earning power and put you in funds when most welcome. INSURANCE COMPANY i A. W 'JANG ' | Dmrict Representafive, 'l‘imnins. Without obligation kind!ly forward me ywrbooklet"rhe Road toma ‘;'an years of age, and would like to accumulate $............................. ty _: Exchange According to reports from the Rouyn Camp, Noranda is to have a building boom as soon as the Spring opens. One of the new buildings will be a threeâ€"storey solid brick hotel. Another planned is a large motion picture theatre. A third is a big apartment house.. Four other solid brick structures are also on the buildâ€" ing programme for the Spring, as well as a large number of private houses for the employees of the mines and others. It is said that special arâ€" rangements have been made with a big trust company whereby money will be available for the building of priâ€" vately owned buildings. . Under this arrangement it will be possible to get a loan up to fifty per cent of the comâ€" bined value of land and building to run three years with interest at 8 per The Rypan Porecupine has some proâ€" mising territory in the Ankeriteâ€"Payâ€" master agea. An extensive plan of development of this Porecupine proâ€" perty has been announced as laid down by the company‘s engineers. In addition to extensive diamond drilling operations, sinking will be done on ‘the main extension of the vein system. Some years ago some remarkably fine rich ore was taken from this extenâ€" sion. Work is also to be undertaken on the Quebec properties of the comâ€" pany. PROPERTIES AT NORANDA SOLD TO RYPAN PORCUPINE MUCKH BUILDING PLANNED â€" â€" FOR NORANDA THIS YRBAR. Three bhundred acres lying between the Aldersonâ€"Mackay and Towagmae have been bought by the Rypanâ€"Porâ€" cupine Mines. The price paid for the property has not been announced. Mr. Newlywed: ‘""This steak tastes queer.‘‘ _ â€" Her: ""I can‘t understand it, dear. I did burn it a little but I rubbed vaseline on it right away!‘‘ j â€"Exchange TE isgoodies Red Rose Orange Pekoe is the finest 8# ;: tea inâ€"the: best packageâ€"Aluminum He keeps within his means. He regularly saves a certain percentage of his income to take care of later deâ€" pendent years. Tom also likes a good time but does not spend every dollar earned. He knows the folly of cultivating exâ€" travagance. Already he tastes the satisfaction of freedom from monetary worries. To day,~ Tom is esteemed and happy. At fiftyâ€"five or sixty he will be independent of all financial cares. When Tom Buys Thursday, March 15th, 1928 2 60 * 3