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[ _"If," Mr. Ferguson replied, "my hon-- 'orable friend was running a store, he wouldn't like to show his costs to every person who comes in. The Foshay in-- terest is an example----" "¥ou don't take them seriously," said Mr. Robertson. _ s We AYHER P "We take everybody seriously, even my honorable friend," the Premier re-- plied. "They are making a scrap up there that has to be considered, and I look at the Bruce Peninsula as being as important as any other part of the Province for the service of Hydro." A. P. Mewhinney (Liberal, North Bruce) declared the trouble was that Bruce had not received the right . rv-- ice from Hydro. PANEL OF AccountaNnts "Hydro doesn't force it: people," said Mr. Ferguson. Silent on Two Things. Administrative -- Details of! New Bill Are Now Revealed M. E. Scott (Liberal, North Oxford) stated that the two things on which the Government gave no information were the Hydro and the Liquor Control Act. Hoe recalled that Premier Fergu-- son had recently said that, if there was any "interference" with Hydro, the Gov-- ernment was "prepared to step in." So he believed that it would not be dis-- crediting Hydro to make public the in-- formation sought in the resolution. "That is different," said Mr. Sinclair. "We are buying Hydro at cost. Surely all the customers, all the people, are interested in knowing that we are get-- ting it at cost." Mr. Scott declared. in reply to Mr. Ferguson's mention of coal prices, that the Pennsylvania coal operators would be willing to quote their rates to any-- Mr. Ferguson wanted to know if Mr. Scott, in the coal business, would be willing to quote locally the prices he paid tor Pennsylvania coal. D. J. Taylor (Progressive, North Bay) asked: "Is the Government's auditors' report wide cnough to cover all the items in this resolution?" F. G. Sandy (Progressive, South Vic-- toria) changed the subject by inquir-- ing as to the situation in exporting peak loads of power into the United States. Mr. Ferguson cxplained that there were no contracts with organizations in the States, but it was understood that whenever there was a poak load ol power they would take any available Mo stated that the United States com-- panics had no claim on the power, but paid for every ounce of clectric cnergy shot in to them whencver there was enough to put on the lines. "Unless I had the report before me, I couldn't undertake to answer that question," said Mr. Ferguson. but he expressed his assurance that there was "a compicte and full audit." Power Expori Situation. BROKERS' AUDITORS WILL BE APPOINTED BY NEW LEGISLATION "It is distinctly understood between Ontario and Quebec." Mr. Ferguson added, "that there is to be no export of firm power." John G. Lethbridge, Progressive Leader, wound up the discussion. He declared that he did not want to do anything: to injure Hydro, but it war "rather strangs" that any Hydro mat-- ters "should be kept secret." The resolution was then formally withdrawn. The House bricfly considered a fur-- ther resolution by P. W. Pearson (Liberal, North York) which, referring to Hydro development and the neces-- sity of further supplics of ppwer, urged the speedy development of the St. Law-- rence waterways project. This final "*Federal" phase of the rosolution was ruled out of order. Spsaker Black stated that Mr. Pearson had intim. ted that he would wihdraw the resolution or substitute another for the part ruled out. Mr. Pearson was not in the House at the time, so the matter was passed over. Legislation by which the Ontario "Tbe House _then rose at 5.55 p.m. itself on the 4 C&d A t *\ Governmeont, in co--operation with the Standard and Toronto Exchanges, hopes to maintain the good names of these excharges, and at the same time provide the general public with further protection. was brought down to the Legislature yesterday by Attorney--Gen-- cral William H. Price. The legislation is in the form of amendments to the Security Frauds Prevention Act, and it provides for the appointment of what are to be known cs "brokers' auditers," whose duty i will be, when called upon, to audit the books of companies cperating on the two aforesaid exchanges. Details Outlined. Although the Attorney--General fore-- cast the principle of the legislation in a 1eccent interview with the press, most of its important administrative details were not revealed until yesterday with the bill's bow to the Legislature, These details are as follows: "'Brokers' auditor' shall mean an accountant whose name is on the panel of accountants approved by an execu-- live committee. uen o8 l The act also requires that every | | brokers' auditor during or upon the | | completion of an audit shall send a | | copy of his report, whether interim or | final, to the exchange auditor; and that | the exchange auditor shall summarize | all such information received and re-l i port thereupon to the executive com-i | mittee. Any person designated in writ--| ' ing by an exectutive committee mavy °<--| 'amine under oath any member of the , exchange or any officer of any com-- | pany represented thereon; and an °x--| ecutive committee may in writing re-§ auire any person or company whose | affairs have been audited or are being: audited to change his accounting sys-- , tem. Failure to comply with any re-- quirements of the executive committee of the exchange shall mean suspension for the company or person offending. © "'Executive committee' shall include the Board of Directors, Managing Com-- mittee or other governirg committee of a stock exchange in Ontario. o "Any executive committee may, from time to time. select a panel of accoun-- tants each of whom shall have prac-- ticed as such in Ontario for not less than five years and shall be known as a brokers' auditor, and may also cm-- ploy an accountant for its own pur-- poses to be known as the exchange auditor,. Lien Upon Seat. "The executive committee shall allot to cach brokers' auditor the persons or companies, whether members of Cr rep-- resented upon the exchange, which are to be audited by him, and all cf the expenses of every audit are to be paid to the brokers' auditor by the execu-- tive committse, subject to full repay-- mont fcrthwith by the person or com-- pany audited, and until such repay-- ment is made the executive committee shall have a lien upon the seat belong-- ing to or controlled by the person or company so indebted to the evxecutive ccmmittee. "FEvery brokers' auditor shall, at least twice in each year, make a complete audit of the business and affaitrs oft each person or company allotted to him, such audit to be made at irregu-- lar intervals, supplemented by such partial audits as the auditor may dsem advisable or the executive committse may direct, but no warning or notics shall in any way be given of any such whole or partial audit. "The executive committes Of stoc'k exchange may at any time require any brokers' auditor upon the panel of ac-- countants of the exchange to make any general or special audit or report upon the whole or any aspect of the business or affairs of any person or company who is or has been a member Of or in any way represented upon the exchange. Free Access to Books, Etc. "KEvery brokers' auditor, for the pur-- pose of any audit under the provisions of this section, shall be entitled to free access to all books of account, securi-- ties, cash, documents, bank accounts. vouchers, correspondence and records of every description of the person Cr company being audited, and any pet-- son or company witholding, destroy-- ing, concealing or refusing to give any information or anything reasonably re-- quired by the auditor for the purpose of l;is at}dit shall be guilty of an of-- ense.' a/.- @ » o4 ~ 20 4 NIAGARA SPAN PLANRED BY SEVERAL INTERESTS Hon. H. C. Nixon (Progressive, Brant) objected to the bill on the ground that it conferred too wide powers on the commission. When the commis-- sion had formulated some definite scheme for building a bridge, it would be time enough to come to the legis-- lature for the power they now asked, he said. Some of Projects Objec-- tionable to Commission, Premier Explains. Several interests are contemplating the construction of an international bridge across the Niagara river, Prem-- ier Ferguson stated yesterday in the legislature when the house went into committee on a bill by which the Ni-- agara parks commission seeks power to construct or acquire such a bridge. The premier replied that the com-- mission had been expanding, always with the object of making a real beauty spot of the Niagara Falls area. "There ar> a number of bridges planned," he said. "There are several applications for the building of bridges before the dominion government. The question of the location of these bridges arises. Some of the plans are objectionable To the commission. Referring to Mr. Nixon's statement that the commission was being given blanket power to involve itself and the province in a large expenditure, Mr. Ferguson pointed out that the legis-- lature still had control in that the commission would have to have any issue of bonds endorsed by the legis-- lature. "I doubt if this power we are giving them now will ever be used," said the premier. "Under this bill the commission would be given authority to negotiate for the erection of a bridge at a loca-- tion which would suit it." "There is nothing of a definite nature before the government now?" Mr, Nixon inquired. '"No, there is not," replied the prem-- icr. * The bill then went through commit-- tee and now stands, for its third and final reading. .