Pigeon, J. (all concur) :—Appellant is a mining stock promoter. In 1954 he ‘‘took over’’, as he says, Maneast Uranium Corporation Limited (‘‘Maneast’’). The shares were then quoted around 3 cents. He became president having effective control, distributed promotional

HALL, J. (Martland, Ritchie and Spence, J J. concurring) :— The appellant and his brothers William and John for many years prior to 1957 were engaged in the business of managing horse racing activities at a number of race tracks in British Columbia