HC Deb 29 April 1915 vol 71 cc830-2
58. Sir FREDERICK CAWLEY

asked the President of the Board of Trade what is the average increase in the price of aniline dyes sold by Messrs. Read, Holliday, and Company since the War commenced; and what is the maximum increase in any one of their products, stated in percentages?

Mr. ROBERTSON

I am not in a position to give the information for which my hon. Friend asks.

Sir F. CAWLEY

Is it not a fact that the Government are providing three-parts of the capital for this concern? Cannot the public know?

Mr. ROBERTSON

The Dyes Company is not being run by the Board of Trade or by a Government Department. Special inquiry will be made by the original company.

Sir F. CAWLEY

Is it not a fact that the government are finding three-fourths of the capital for this concern?

Mr. ROBERTSON

The hon. Gentleman is in a position to know all the facts.

65. Mr. BOOTH

asked the President of the Board of Trade if he is now in a position to state, on the authority of Messrs. Read, Holliday, and Company, that, in the selling of their business to the Government Dyes Company, no commission has been or will be paid to any member of the Committee which advocated the scheme or any other intermediary?

Mr. ROBERTSON

Yes, Sir. No commission has been or will be paid.

Mr. BOOTH

Do I understand that that statement is made on the authority of Messrs. Holliday?

Mr. ROBERTSON

Certainly; this is the second time the hon. Member has asked this question.

Mr. BOOTH

The first time it was evaded.

Mr. ROBERTSON

The first time it was implicit, and the next time it was explicit.

67. Mr. PENNEFATHER

asked the President of the Board of Trade if he will state the total amount subscribed to British Dyes, Limited; what, on the basis of such subscription, are the unpaid liabilities of the Government in connection with that company; what amounts have the Government paid already in that connection; whether British Dyes, Limited, have yet decided to exercise either of the options on the concern of Read, Holliday, and Sons, Limited, mentioned in the prospectus; if so, which option; whether the services of either Mr. Holliday or Mr. Joseph Turner have been secured; and, if so, on what terms?

Mr. ROBERTSON

The number of shares allotted up to yesterday was, I am informed, 641,509. The consequent liability of His Majesty's Government is to advance £641,509 on debentures, together with a loan of £200,000 to Read, Holliday, and Sons, Limited, which will be treated as an advance to the new company on its acquisition of that undertaking. The only amount so far paid by His Majesty's Government is £56,011 15s. 1d. in respect of that loan. The Government have also undertaken to make a Grant to the new company not exceeding £100,000 altogether in respect of expenditure incurred by them on research within the next ten years. I understand that the directors of British Dyes, Limited, have decided to acquire Read, Holliday, and Sons, Limited, exercising for that purpose option (a) set out in the prospectus. I have seen it stated in the Press that Mr. Joseph Turner will continue to manage that business, but I have no information as to the terms made with him.

Mr. PENNEFATHER

May I ask whether the Board of Trade could not make inquiries through the two Government directors of the company as to these terms and other matters, and inform the House?

Mr. ROBERTSON

It must be a matter as between the company and Mr. Turner. I will see if the information can be got, but if each transaction which takes place in connection with the company is to be made the subject of an inquiry in this House, it will involve a great deal of labour.

Mr. PENNEFATHER

May I point out that this is a very important matter, involving a large sum of money?