TuesdayLépril 25, 1967

that we will be able to Five intelligent answers to any questions we are asked from time to time as responsib e Directors of the Corporation.

Yours truly,

(Signed) J. David Stewart, Provincial Secretary.”

From the foregoing, it would appear, Mr. Speaker, that there was only one individual in this Corporation and he knew the whole thing, he steam-rollered every suggestion and every movement of that Corporation; nobody knew anything else about it. The Premier knew nothin concerning it; he had to write him and here a fellow member of the Corporation ha to do likewise.

Now, Mr. Speaker I would like to put on record here a letter from Premium Iron Ore Limited.

“Dear Sir:

I have your letter of March 3lst, and must say that recent actions of Gulf Garden Foods and the Bathurst Marine Limited have resulted in Premium Iron Ore’s having absolutely no present or future interest in these Companies.

In addition, our Associated Company, Motormar Limited, which agreed to con- tribute approximately $l,600,000.00 worth of equipment and trawlers on ease, is hav- ing difficulties with Mr. Moe.

Bathurst Marine is in default and existing leases and leaseway has not been supplied with satisfactory information demonstrating that Gulf Garden Foods is cap- able of maintaining lease payments on trawlers or equipment.

I enclose copies of the letter to Mr. Moe."

This is one of the men, who in the early days of the formation of this Company was one of the acting Directors. He disappeared from the scene shortly after he came down here and made his own quiet investigations. He disappeared from it because no man who is high in the financial circles of Canada ever wants to be associated with something which is run on a loose and dangerous basis. The Fishermen's Loan Board, this is another letter from H. L. Motormar Trawlers Limited, and this concerns the essel Howe Bay. We have heard a lot about this Howe Bay. We heard on one occas- on that she disappeared from Georgetown in the middle of the night and she was found

ter up at Matane fishing shrimp. It would appear that Mr. Moe had directed her aet- vities up there. The necessary efiiipment for the operation of that shrimp lant was pirited out of the Gulf Garden p nt at Georgetown in the middle of the nig t, loaded n the ship and she set sail. It took as three weeks to find out where she was; we ventually got her back, but here is an enlightening document.

“The Fishermen’s Loan Board, Prince Edward Island, Canada. Re: Tb Motor Trawler Howe Bay. Gentlemen:

We, as owners of the trawler Howe Bay feel obilged to acquaint the Board with the situation which has recently been brought to our attention.

By way of introduction, we will present the following facts which we now are advised and not known to the Board.

( 1) The vessel was purchased on March 15th. 1966 by cheque signed by the President of Motomar Trawlers Limited through the intercession of the Gulf Garden Foods Limited.

(2) By their boat charter of the same date, Gulf Garden obtained full operating control of the vessel as an addition to their fleet, in return for a monthly hire of $3,000.00 to Motormsr for which sum the amount due to Fishermen’s Loan Board was to be deducted by Gulf Garden. 7