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JH5 AND CABLE ADDRESS u'iON cSoE° TELEPHONES MAIN EIO3- MAIN 2IO4- CANADA LIFE BUILDING,44- WEST KING ST. TORONTO, Feb. 26th, 19 17. G. E. Muirhead, Esq., Osgoode Hall, Toronto • Dear Sir,- re-Grand Valley. I beg to advise you that last Friday we made some progress in Mr. Dinnick's examination, atleast, I have got productic from the Snist & Guarantee Company not of the Minute books, but of letters and correspondence and things of that sort, and I find at the very outset half a dozen letters from Dinnick directing the issue of the shares to the contractor in very large blocks running up immediately after the by-law was passed approving of the issue, to $400.000 or f 500. 000. worth of bonds, and thereafter in a steady stream, although Mr. Dinnick admits it was far in excess of the amount for which work was done, I have also got his admission on oath that the directors got some bonds, but he says they got them as members of the Syndicate, not as directors and he thinks they had advanced some moneys. I am looking into that further, and I am having the Trust Company look out the old books of account to trace that up. I have also got from Mr. Dinnick the admission that at the