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Here again may be detected a clear enough indication of a specific difference between these "‘sick leave credits’ ‘ and the employees’ registered pension plan, any arrears of which must be made good out of such sickness pay allowance. ... P. 552: ‘ ‘A Pension’ is a stated allowance or stipend made in consideration of past services or of surrender of rights or emoluments to one retired from service, and is not wages as that word is used in Unemployment Compensation Act provision, wherein wages are defined as remuneration for employment. ’ ’ Another analysis of the term in Quillet, Dictionnaire de la Langue Française (the 3 volume edition) suggests identical conditions; I cite: ‘Pension de retraite, revenu annuel attribué sous certaines conditions d’âge et de services rendus, à un militaire, à un fonctionnaire, etc., qui a cessé son service.” ... Maurice Boisvert, Q.C., that ‘‘ At the very most it sets up a sickness benefit fund (designated in French under the expression of “caisse-maladie”), supplied by an accumulation of salaries withheld from the employees by the employer...” ...

Notwithstanding the words used in the aforesaid Act to designate them, the securities called ‘‘ ‘ preferred shares ’ ’ represent loans ‘ 1 sui generis ’ ’ and in no way correspond to the shares so designated and issued under the limited companies Acts. and seeks to have this appeal dismissed and the decision of the Appeal Board, delivered on June 22, 1951, upheld, all with costs. ... ’ ’ Answer: ‘ 6 That is right. ’ ’ “Q. Whereas the holder of a mortgage loan had the guarantee that the association’s assets were there to pay him? ... Section 20 says, ‘‘ A shareholder-producer shall have only one vote, whatever may be the number of his shares...’’ ...

Employment: The Company shall employ the Manager as General Manager of the Company at and upon and subject to the terms and conditions following. ’ ’ We are acquainted with the stipulations concerning duration and salary, respectively five years at $25,000 per year. ... Again the signatories to this parting indenture were identically those who had signed the "‘employment'' covenant (Exhibit 2) some fourteen months previously, namely: " ‘ Federated Petroleums Limited, per R. ... The income of a taxpayer for a taxation year for the purposes of this Part [Computation of Income] is his income for the year from all sources... and without restricting the generality of the foregoing, includes income for the year from all (a) businesses, (b) property, and (0) offices and employments. ‘ ‘ Section 5 deals further with ‘ income ‘ ‘: "Income for a taxation year from an office or employment is the salary, wages and other remuneration, including gratuities, received by the taxpayer in the year...” ...

Winthrop Chemical Company Incorporated, [1948] S.C.R. 46, Rand, J. said: “... ... Perry, [1951] 1 T.L.R. 91, Sir Raymond Evershed, M.R. stated that: ‘ ‘... ... According to Webster’s International Dictionary, 2nd ed., p. 129, the word apparatus in its second sense is: ‘ ‘ A collection or set of materials, implements or utensils for a given work, experimental or operative.” ...

In this agreement the Settlor was called ‘‘the Investor,’’ and the agreement was known as an “Investment Agreement. ‘ ‘ That agreement was revoked and superseded by another agreement, also known as an “Investment Agreement,” made between the same parties, and dated October 20, 1916, pursuant to which the said fund of $100,000 and all additions thereto made from time to time, was to be held by the said Trustee, subject to the trusts, terms and conditions, therein set out, the said Trustee guaranteeing the payment of the corpus of the fund to such person, persons or corporation as the Settlor might by will or otherwise appoint, at the period of twenty-one years after his decease, with interest at a specified rate. ... By the terms of this agreement the Settlor agreed to assign and set over unto the Canadian Trustee, its suecessors and assigns, all his right, title and interest, in the assets held by the said Trustee under the agreement of October 20, 1916, and certain additional assets, real and personal, which the Settlor desired to make subject to the terms of the same agreement, all of which was transferred to and received by the Canadian Trustee as " " Trustee of Birtwistle Trust. ‘ ‘ The terms and conditions of this agreement need not be mentioned, with the exception of one paragraph, as all other terms of that trust instrument were stated by counsel not to be relevant to the controversy here. ...

On a suggéré au gouvernement de le changer s’il ne trouvait pas ça correct, s’il trouvait le montant déraisonnable et alors on était prêt à mettre un autre montant. ’ ’ Conformément au contrat intervenu entre l’appelante et son principal actionnaire, elle lui versait les montants suivants: 1952 $10,730,53 1953 $10,210.05 1954 $ 7,355.90 1955 $ 7,686.82 1956 $ 8,611.61 L’appelante chargea ces montants comme dépenses d’opérations et les déduisit du revenu découlant de ses ventes pour les années ci-haut mentionnées. ... C’est là que l’appelante aurait consenti par la résolution ci-dessus à lui venir en aide en lui faisant des avances ‘ ‘ comme acompte sur des factures à venir’’. ... Quebec Boot & Shoe Regd. est une raison sociale appartenant à un M. ...

The English Companies Act, 1948 (11 & 12 Geo. VI, c. 28) by Section 66 provides as follows: “66. (1) Subject to confirmation by the court, a company limited by shares or a company limited by guarantee and having a share capital may, if so authorized by its articles, by special resolution reduce its share capital in any way, and in particular, without prejudice to the generality of the foregoing power, may (b) either with or without extinguishing or reducing liability on any of its shares, cancel any paid-up share capital which is lost or unrepresented by available assets; ’ ’ The English Companies Act, 1877 (40 & 41 Vist., c. 26) provided by Section 3 as follows: “3. ... Vaughan Williams, L.J., at page 216 said: “We have to see whether there is any lost capital, and to what extent. ’ ’ He then discussed the circumstances and, after dealing with the propriety of using part of the reserve fund, said: “... ... It was strongly urged on behalf of the appellant that the definition of ‘‘loss’’ contained in Section 127(1) (w) should be applied in determining what is a “ capital loss sustained ’ \ Section 12(1) is as follows: “12. (1) In computing income, no deduction shall be made in respect of (b) an outlay, loss or replacement of capital, a payment on account of capital on allowance in respect of depreciation, obsolescence or depletion except as expressly permitted by this part.’’ ...

His income during the year 1943, relevant to the issue here, was:— Pay and Allowances received while on duty in the western hemisphere other than Canada $ 992.11 Pay and Allowances received while in the Canadian Active Service in Canada 1834.36 Net income from other sources 608.19 Total Income $3434.66 If the appellant had not been a member of the military forces the tax payable in respect to such income would have been $984.72. ... Under the Act, in my opinion, there are four groups of members of the Canadian Naval, Military and Air Forces. (1) The income including service pay and allowances of those members of the Forces in Canada who are not in the Canadian Active Service, is subject to taxation. (2) The income including service pay and allowances of those members in the Canadian Active Service Force who are in Canada, is subject to taxation but under Rule 2: the tax they pay is "reduced by a credit from the tax otherwise payable”, ranging from " " an amount equal to the tax payable on $1,600.00 ‘ ‘ of pay and allowances, on up. (3) Under Rule 3 the income including pay and allowances of all members of the Forces in the western hemisphere other than in Canada is subject to taxation because they, under Rule 3, * 4 shall be dealt with in the same manner as the persons referred to in Rule 2 of this section’’. And the persons under Rule 2 are given ‘‘a credit from the tax otherwise payable ‘ They are then subject to the general taxation provision and receive a credit on their tax depending on the amount of their pay and allowances as provided in Rule 2. ...

(hereinafter to be called " ‘ Pacific Oil Company’’) whereby the former were granted a licence, which I shall refer to as a "‘lease,’’ to drill one oil well on certain lands in the Province of Alberta, to operate the same, and to dispose of any petroleum products and gas if recovered therefrom in commercial quantities, upon the covenants, conditions and stipulations, in said agreement set forth. ... The Pacific Oil Company leased the said lands from The Calgary & Edmonton Corporation Ld., here called ‘‘the Head Lessor,’’ the latter corporation being the successor in title, by lease, to The Calgary & Edmonton Land Company Ld., and which lease is hereinafter referred to as ‘‘the Head Lease.’’ ... I do not think it is correct here to use interchangeably the words " 1 royalties ‘ ‘ and ‘‘units of production.’’ ...

It was stated that so-called ‘ lease-hounds ’ ’ do not participate in any way in the development of the property after obtaining leases, as for example in the way of drilling and otherwise developing the properties, but instead they receive only a fee for their services. ... Chamberlain and Welton Becket, the appellant retained a 12%% ‘ ‘carried interest”. ... At page 214, Thorson, P., after prescribing these certain guides, stated: ‘ ‘... that the question whether a particular transaction is an adventure in the nature of trade depends on its character and surrounding circumstances and no single eriterion can be formulated.’’ ...