Newspaper Clippings

Bella Coola Courier

1914

January 24
Mr. Mark Smaby has returned from visiting the camps and reports that all is in perfect order. The absence of rough weather has greatly facilitated logging and there has been no difficulty in holding booms.

Rev. T.C. Colwell of Bella Colla visited the people of the Falls last week accompanying Mr. Smaby on his rounds of the camps, also visiting Kimsquit. The various camps are in readiness to be started at short notice.



March 14
Mark Smaby of the OF Co. called here [Bella Coola] on Tuesday. He was on one of his periodical visits to the various logging camps of the company.



May 2, Vol 2 No. 32

Page 1
Ocean Falls Company Agreement is Argued; Application Opposed

Vancouver, April 30.- Before Mr. Justice Morrison in supreme court chamber, Sir Charles Hibbert Tupper, K.C. made application to have the contract entered into between the trustees of the debenture holders of the Ocean Falls Paper company and Messrs. Fleishhacker Brothers of San Francisco confirmed, thus making the first step toward the consolidation of the British Columbia company with the powerful paper and pulp interests of the Pacific coast.

Mr. S.S. Taylor, K.C. on behalf of Sturtevant & Company a creditor and Lester W. David also a creditor and a holder of common stock in the company opposed the application on the ground that in the event of the contract being entered into, it would leave the common stock holders without any security of their holdings. A cablegram was produced by Mr. Taylor from Mr. David in which it was stated that the latter had been successful in forming a syndicate of Englishmen in London to take offer the property under conditions favourable to the stockholders. Judgement was reserved.

May 16
Ocean Falls Plant Passes Into Hands of Coast Paper Merger

Vancouver, May 14. Messrs. Fleishhaker Brothers & Johnson of San Francisco will take over the great paper and pulp plant of the Ocean Falls Company and henceforth the interests of the British Columbia company will be under the control of a merger of Pacific coast pulp and paper interests, the contract recently entered into with the San Francisco firm by the Western Canada Trust Company as receiver for the debenture holders having been confirmed by Mr. Justice Morrison of the supreme court.

A few weeks ago argument upon the application to confirm the contract was heard. Mr. S.S. Taylor, K.C. on behalf of Mr. Lester W. David, holder of most of the common stock of the company and promoter and former president of the concern offered strong opposition to the proposal. Mr. David had cabled from England that he had interested English capitalists who were prepared to take the plant over and pay off the debenture holders. The offer was not in proper form and could not be considered by the court.

The proposal of Messrs. Fleishhaker and Johnson had previously been sanctioned by the debenture holders at a meeting held in London, England and by the agreement the creditors will be paid by the interests taking charge who will also assume the liability toward the debenture holders.

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