MR. GIBSON BOWLESI beg to ask the President of the Board of Trade, what are the general lines of agreement between His Majesty's Government and Mr. Pierpont Morgan's Shipping Trust, now known as the International Mercantile Marine Company, which had been settled and accepted by both parties on 23rd February last; does this agreement relate to the transfer by British owners to that company of nearly one million tons of British shipping, and is that company a foreign company; and, if so, can he explain on what grounds the ships in I question continue to fly the British flag and to sail under a British register, i contrary to the provisions of the Merchant Shipping Act, 1894; and, in view of the delay of over five months that has occurred, will he now undertake to lay the agreement upon the Table within a definite period.
§ THE PRESIDENT OF THE BOARD OF TRADE (Mr. GERALD BALFOUR, Leeds, Central)The general lines of the agreement are in the terms announced by me in my speech at Sheffield on September 30th last and reported in The Times of the following day. I have 1463 explained on previous occasions that the arrangements entered into with the British companies that are associated with the combine do not involve the transfer of ships, but the transfer of shares in those companies. Without being able to state definitely when the formal agreement will be laid before Parliament, I think I am in a position to undertake that it will be ready for execution by the parties before Easter.
MR. GIBSON BOWLESWill the right hon. Gentleman favour me with a copy of his speech at Sheffield? I have not seen the report.
§ MR. GERALD BALFOURI dare say it can be seen in the Library, in the file of The Times.