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HomeMy WebLinkAboutThe Exeter Times-Advocate, 1966-05-05, Page 2Pay. 2 Times-Advocate, May 5, 1966 Try This Quiz I am years old. I have worked for years. My income for this period totals Of this amount I have left TED HOLMES 145 Deer Park Circle, London DO THE ANSWERS SATISFY YOU? eliveaca loi6memiso. SYNDICATE LIMITED Or mail this coupon Without obligation, please send me more information. NAME — ADDRESS .- CITY/TOWN _PROV, CAN YOU CATCH UP WITH LOST TIME DUE TO LATE SPRING BY THE TIME YOU'LL BE ABLE TO GET ON THE FIELD EVERY MINUTE WILL COUNT SAVE TIME WITH DUAL TIRES They've Proven Their Value 2 MINUTES TO MOUNT 30 SECONDS TO DISMOUNT CAN YOU BEAT THAT? Mr. Farmer: Do you know that Unverferth Dual Rims will give you the following ad- vantages— • Gets you back on the land earlier • Mounted in 2 minutes with no jack • Dismounted in 30 seconds • Wheel settings may be changed without dismounting duals • Wheel weights may be installed while duals are mounted • Any used tire may be used for a dual • Im- proves Tractor performance • Increases Tractor power—reduces fuel • Reduces slippage • Increases draw-bar load—as much as 50% on soft ground • May pull another piece of machinery on same gear • Cuts down impact breakage and repair bills • Reduces land compaction. CONTACT US — We'll gladly give you the full story on Dual Tractor Rims. NEWB TIRE & BATTERY 242 Main North Exeter 235-0330 GOODS YEAR Direct from Britain over 200 new suitings of Pure Virgin Wool Awaiting your selection now . a magni- ficent range of weaves, patterns and colorings . all pure virgin wool the world's finest. TIP TOP TAILORS Walper's Exeter 235-0991 79.50 -85.00 CUSTOM 1 CLOTHES Report Bean Board operations January, 190 that the local Board passed its regulation. The legal effect of this is that the local Bean Growers Board ille- gally collected levies from the Predecers of beans in Ontario at the rate of .77e per hundred weight from the 30th of June, 1965 until the 24th of January, 1966. This amount which appears to be approximately one million dollars was collected illegally and was being held Illegally by the local Bean Growers Board. As a result any interest which accrued from this sum of money in the hands of the local Bean Growers Board is also unlaw- fully held. The two leading cases which support my opinion in this matter are both Canadian cases which went to the Privy Council for final decision. They are Dom- inion Press Limited vs. The Minister of Customs 1928 A.C. 340 and Carling Brewing vs. The King 1931 A.C. 435. its poseession, and is being used by the Company as collateral for its borrowings at the bank, Fur- ther, neither the Board of Direc- tors of the Company nor its shareholders have ever recorded that they have given authority for the sale of the bond nor the transfer of the bond to the Board. In other words, the Board has paid out $30,00Q.00 for which they have received nothing except having created a potential law- ettit, Ardent fishermen It was cold Sunday afternoon but not too cold to stop crowds of youngsters enjoying fishing at the Morrison Dam, The fishermen were predominantly youthful during the first two days of the trout season and catches were reported good on Saturday. (T-A photo) Continued from front page Company refused to pay saying that although they had signed the note, they did net have that power legally and were therefore not liable. The Supreme Court of Canada held that although the Telephone Company did acquire such powers under the Companies Act yet these powers were sub- ject to the Telephone Act and as such they were not authorized to sign notes nor were they liable for them if they did sign. Thus, the whole operation is therefore beyond the power of the local Board and its operation, in my opinion, is quite illegal. At the outset it involves a divided conflict of interest which can only result in losses to the grow- er. For example, the function of the Bean Growers Board should have been to promote the bean industry and to secure for the producer the highest possible prices for his product. How then can the same directors justify operating a Company the purpose of which is to pay the growers the lowest possible price for his product and thereby make a profit. If the Company loses mon- ey it Is the grower who is paying the loss and this also is illegal. If the Company makes money they can only be making it out of the pocketbooks of the various producers, which is not a local Board function. Recommendation. This money has been removed from the growers illegally and observing that the local Bean Growers Board had no right to these funds, this money and any interest that is earned should be turned back to the bean pro- ducers of Ontario immediately. The apparent intention of the local Bean Growers Board to ignore any suggestions and to disregard the law has apparently led to a number of other illegal- ities as follows: Ailsa Craig United Church marks 100th anniversary Band purchase On October 15, 1965 the local Growers Board approved a pur- chase of a $30,000.00 bond owned by the Company. The bond in question is a 4 1/2% Government of Canada bond due the first of September, 1983. Although the Board paid the sum of $30,000.00 for the bond from the Company, the Board has never received the bond. The bond is still registered in the name of the Company, in to the Company and further that the taxes amount to some $4,- 000.00 per year the divielon on a 50-50 basis is unreal and im- proper, Recommendation The division of expenses and taxes should be reckoned on the basis of the use to which each party makes of the property. The Board should seek offices apart from the Company premises and all interest in the real estate should be transferred to the Com- pany and given back to the grow- ers of beans in Ontario. This will eliminate any impropriety in the expense splitting which has gone on in the past. Failure to meet The Corporation Act requires that shareholders meetings are to be held at least once each year. The purpose of this is to review the acts of the Directors, to discuss the business of tile Company and to appoint auditors. Records of the Company reveal that no shareholders meetings have been held since the 3rd of January, 1964 which means that no shareholders meetings have taken place for over two years. The legal effect of this is that the shareholders of the Company have been unable to review the acts of the Directors, the expen- ditures of monies, a review of the expenses, nor can there be any legal appointment of audi- tors of the Company for the past two years. The effect of this is most serious and removes one of the safeguards of the bean producers to the use of their funds. Recommendation Most of the improprieties and illegalities involved in this situ- ation seem to arise from what would appear to be a deliberate attempt by tile local Bean Grow- ers Board to reject suggestions and to disregard the law. In addition to this, the unethical and Illegal procedure of Owning a wholly owned subsidiary has led to a situation which, in our opin- ion, will end in disaster. Our re» commendations in short are to cancel the debt that the Company owes to the local Bean Growers Board; to put the Company in a liquid financial conditioaaad then. transfer the Company into a Non- Share Capital Cooperative and return it to the growers imme- diately, When the Company be- comes a going concern as a Non- Share Capital Corporation, elec- tions should then be held for Directors of the Company. No elections According to the Ontario Bean Growers Marketing Plan Sections 9 and 10 outline the procedure for holding elections. Section 9 states: "On or before the 15th day of March in each year the producers shall elect one representative to the district bean growers com- mittee." Section 10 states that the com- mittee "may elect on or before the 31st day of March in each year." The wording of these two sec- tions appears to be absolutely clear and without doubt, and yet, despite this the local Bean Board have either failed to read the Bean Marketing Plan or else chosen to ignore its provisions as the minutes of the local Board indicate that elections are not held until December. As the Board which chose to ignore the provisions of the Bean Marketing Plan is no longer in existence, we have not conducted a study into the illegal effect of elections being held not in accordance with the law, nor the legal effect of the various acts of the Directors who held office not in accordance with the law. When the separation of the Company from the local Board is completed and operating satis- factorily then and only then should elections be held for a new local Bean Board Board. Purchase by board The Board in its meeting of the 15th of October, 1965, auth- orized the purchase of 39,984 shares of the Company for $390,- 984.00 and paid over to the Company by way of a debt can- cellation this sum of money. Although the money passed from the local Board to the Company no stock certificates were ever received by the Board nor is there any record that the Com- pany either approved the sale or authorized the transfer of shares. Not only is this an im- proper use of Board funds, but in our opinion this transaction is contrary to the law. Improper holdings The value of the lands and buildings at the Companies plant amounts to approximately $300,- 000.00. Although the Company elevators, buildings, etc, occupy most of the property, all the real estate is held in the name of the local Growers Board. When one considers that the Board have only a small office at this loca- tion, it seems absurd for the Board to retain ownership of the property most of which is occupied by the Company rent free. This impropriety has re- sulted in the further fact that the Board pays 50% of all light, heat, power and taxes, splitting the costs equally with the Com- pany. When one realizes the trif- ling amount of power which must be used by the Board compared By GORDON MORLEY BRINSLEY The Ailsa Craig United Church will celebrate its 100th anniver- sary during the month of May. The Wesleyan Methodists built the first church in the village in 1866 and the Presbyterians built in 1871. In 1925 the Meth- odists and a group of Presby- terians from Ailsa Craig, Nairn and Beechwood came together to form the Ailsa Craig United Church. Three weeks of special ser- vices and events have been plan- ned in conjunction with the cen- tenary celebration. Mr.DonGray of CFPL-TV has been invited to speak to both children and par- ents on Family Sunday, May 8. The Rev Anne Graham of Metro- politan United Church, London will be the guest, May 15 when the founding members will be honored in a special way. On the anniversary Sunday, May 22, the Rev Ray Hord, Toronto, sec- retary of the Board of Evangel- ism and Social Service, will be guest minister. During the week prior to May 22 a museum will be set up in the church basement displaying artifacts of pioneer days. Also on that day a representative group of the congregation will arrive in buggies and on horse back and wearing the costume of the day. PERSONALS Sunday visitors with Mr. & Mrs. Earl Lewis and Allan were Mrs. McGovern of Toronto, Mrs. Gibbard of Ancaster, Mrs. Ham- ilton of Cooksville and Mr. & Mrs. Doug Lewis. A family day and baptismal service is to be held at Brinsley United Church Sunday May 8 at 12:15 pm with the Sunday School taking the leading role in the service with a junior choir in attendance. Carol Robinson and Jacqueline Lewis are to feature a dialogue sermon between two people adding to the service. Brinsley UCW have planned a bazaar for Wednesday May 25 at the church. McLean Bros. of Strathroy are erecting a large silo for Mr. Norman Lewis. Shipka Mr. & Mrs. Earl Baker, St. Thomas, visited Sunday with Mr. & Mrs. Ken Baker and family. Mrs, Major Baker spent Sun- day with Mr. & Mrs. John Lovie, Mollard Line. Mr. Earl and Miss HelenDiet- rich, Stratford, spent the week- end with their parents, Mr. & Mrs. Lorne Dietrich and family. Mr. & Mrs. Harry Sheppard visited Sunday with Mr. & Mrs. Charlie Pergel and family, New- bury and Mr. & Mrs. Chris Baumgarten, Bothwell. Recommendation Because of our opinion that the local Bean Growers Board, lacks authority to own and oper- ate Ontario Bean Growers Lim- ited and because the growers' money has been improperly used to operate this Company, we feel, and your Board has expressed a similar opinion, that the Com- pany, Ontario Bean Growers Limited, is really the property of the bean growers of Ontario and therefore steps should now be taken to return the control and operation of the Company to the bean growers in this pro- vince. To achieve this and to carry out your wishes to return the Company to its rightful owner and in this way to legalize the status of the Company, it is our recommendation that the Com- pany be transferred by Supple- mentary Letters Patent into a Non-Share Capital Cooperative Corporation with each bean grower in Ontario becoming a member of the Cooperative and in this way the grower will be- come eligible to vote to elect a Board of Directors of the Com- pany. Thus, the ownership and the control of Ontario Bean Grow- ers Limited would be transferred to the growers, and after elec- tions are held for the Board of Directors of the Company, con- trol would lie with the growers immediately. It is our recom- mendation that an application be made to the Lieutenant Governor of Ontario for Supplementary Letters Patent making each grower a member of the Non- Share Capital Cooperative and to have the Company function as it is until elections have been held, which elections should take place as soon as the new Charter has been received. Social security pension cost a U.S.employee $30 top in 1949; now it is $277; watch how Cana- dian pension costs go. PLANTING EVERGREENS Now In Full Swing Over 300 Trees On Display In Our Yard Clump Birch 6 — 7 ft. high All our shade trees grafted Illegal levy By order in Council of the Government of Canada under the Federal Agricultural Products Marketing Act (P.C. 1965-526 and amendments) bearing the date June 30, 1965, the Bean Growers Board was granted an extension of powers of marketing beans and were authorized to fix and impose levies of an amount not to exceed the rate of .77e per hundred weight. Please note the date of this Order is June 30, 1965. This Order does not come into effect until the Bean Gr6wers Board passes a regulation or order under the above extension of power. Nor is the levy rate set until the Bean Growers Board sets it out in the regulations. Please note further, that the Federal authorities sets no rate but merely states "the levy shall not exceed the rate of .77e per hundred weight." The local Bean Growers Board failed to act for some six months nor was it until the 24th of REDER'S FLORISTS 235-2603 In the first nine months of 1965 labor income in Canada totalled $18,463 million, an in- crease of $1,787,000,000 over the corresponding period of 1964.