§ MR. SCOTT (Ashton-under-Lyne)To ask the President of the Board of Trade if his attention has been called to a company named the Provincial Homes Investment Company, whose operations are advertised to assist the working classes in buying their houses; whether he is aware that meetings of dissatisfied certificate holders are being held in various towns where it is alleged the holders have been unable to obtain advances on their properties in accordance with the prospectus of this company; and will he cause an inquiry to be made into the workings of this company.
(Answered by Mr. Churchill.) I have received several letters of complaint from dissatisfied holders of certificates in a company named the Provincial Homes Investment Company, Limited, and I have been informed that meetings have been held. The Board of Trade have no general power to institute an inquiry as suggested by my hon. friend. The only power vested in the Board of Trade is the power to appoint an inspector in accordance with the provisions of Sections 56 to 59 of The Companies Act, 1862, on the application of shareholders holding not less than one-tenth of the whole of the shares of the company for the time being issued.