Increase of Stock by Jockey Clubs.: Capital Stock of Ontario Club Raised from 0,000 to 00, 000., Daily Racing Form, 1917-03-16


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INCREASE OF STOCK BY JOCKEY CLUBS. Capital Stock of Ontario Club Raised from 0,000 to 00,000. Toronto. Out.. March 1.1. — Replying in the legislature to the questions by Mr. Sam Carter South Wellington, regarding the Ontario Jockey Club. Hon. W. D. McPhersou said that letters patent wen granted to the Ontario Jockey Club on November 4. MM, increasing the capital stock from 0,000 to 1300.080, dividing the capital stock into 300 share- of si. 000 each, and declaring the new Shares to be allotted to the then shareholders of the club so that each shareholder should receive the same number of shares as were held by such shareholder before. The government was not aware thai the increased capital stock was distributed among the existing stockholders as bonus stock. Supplementary letters patent were granted to the club increasing its capital stock from .01. MM to 1000,000 b] the creation of 400 shares of new stock of SI .000 each. The government didnt knew that this was distributed among the stockholders as bonus stock. The government has no knowledge or jurisdiction over matters connected with the collection of war tax by the Dominion. Regarding the Hamilton Jockey Club. Mr. Mc-Pln rson said there was no application pending from the said dub to increase its capital stock so that each 00 shareholder would get a certificate for SI. MM of new stock. There is. however, an application for supplementary letters patent to increase the capital stock from 0100,000 to 1000,000 by tiie ereation of 4. KM shares of new stock at 00 each. The application is at present under consideration.

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