Windfall : Viola Macmillan and Her Notorious Mining Scandal

Nonfiction

eAudiobook

Provider: hoopla

Details

PUBLISHED
[United States] : Tantor Media, Inc, 2025
Made available through hoopla
EDITION
Unabridged
DESCRIPTION

1 online resource (1 audio file (9hr., 30 min.)) : digital

ISBN/ISSN
9798331953874 MWT17661507, 17661507
LANGUAGE
English
NOTES

Read by Daniela Acitelli

Viola MacMillan had it all: success, money, and respect. Influence, even. But in 1964, after three decades in the mining industry, one of the most fascinating women in Canadian business history was the central character in one of the country's most famous stock scandals. MacMillan, who started out as a prospector in the '30s, had developed lucrative mines and put together big deals. But she still wanted "a major discovery." Early in July 1964, shares in Windfall Oil and Mines, a company she and her husband controlled, traded for around 56 cents. Then one day, the stock took off. In the absence of any information from the company about what it had found near Timmins on its claims, rumors and greed pushed the share price to a high of $5.70. MacMillan stayed quiet. Finally, after three weeks, Windfall admitted it had nothing. So many small investors lost money when the stock crashed that the Ontario government appointed a royal commission to examine what had happened, which led to changes at the Ontario Securities Commission and the Toronto Stock Exchange. Although MacMillan spent a few weeks in prison, she later received a pardon and the Order of Canada

Mode of access: World Wide Web

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