Scrapbook 9

It's Wait And See On Treasury Branch

Provincial Treasurer A. O. Aalborg refused to speculate Monday on what would happen if operations of provincial treas­ury branches are declared ille­gal.

Opposition Leader Mike Mac­cagno asked if the government is taking any action now be­cause of an appeal of a Supreme Court decision that the Treasury Branch Act is within the powers of the province.

The appeal, filed by the legal firm of Macdonald, Spitz and Lavallee, is against a previous decision by Mr. Justice Neil Primrose. The appeal maintains the provincial government has no power to carry on the busi­ness of banking.

Mr. Aalborg said in the legis­lature: "Treasury branches have been in operation a good many years. This is not the first time the basis of operations has been challenged."

Mr. Maccagno asked: "Sup­pose the appeal is successful. What would happen?"

Mr. Aalborg replied: "We have not been doing any specu­lating on the outcome. We are not in a position to give any speculative answer."