BANK OF CANADA
CONTROL BY GOVERNMENT FIRST STEPS TAKEN Press Association—By Telegraph—Copyright OTTAWA, June 1. (Received June 2, at 1.30 p.m.) The first step for the Government gaining control of th© Bank of Canada was taken by Mr Dunning (Minister of Finance) in a House of Commons resolution authorising the Finance Minister to issue sufficient new stock to offset the stock already issued to the public. The Government will also elect sufficient directors to gain voting control of the bank originally . set up by the Bennett Government with the Government only controlling the appointment of the governor and restricting the shares of any one individual to 20. Mr Dunning has also announced a 30year 207,000,000-dollar bond issue at 3i per cent, to be offered to the public tomorrow.
The Minister of Revenue (Dir Ilsley) has announced that the AprilMav income tax collections increased by 8,000,000 to 59,000,000 dollars.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19360602.2.128
Bibliographic details
Evening Star, Issue 22354, 2 June 1936, Page 12
Word Count
148BANK OF CANADA Evening Star, Issue 22354, 2 June 1936, Page 12
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in