HC Deb 20 July 1916 vol 84 cc1176-7
44. Mr. HOUSTON

asked the President of the Board of Trade the nominal amount of the share capital of Thermit, Limited; how much of that share capital has been issued; how much is held by British-born subjects resident in the United Kingdom and how much by aliens resident in Germany; the names of the directors and manager of the company; whether this company enjoys the protection of British patents which prevent other British companies or firms from carrying out similar operations; and whether Thermit, Limited, is able to carry out work of a special nature which cannot equally well be carried out by a firm or company composed of British-born subjects engaged in similar work?

Mr. HARCOURT

The nominal capital of Thermit, Limited, is £50,000, the whole of which has been issued and was held by or on behalf of Germans resident in Germany. The directors of the company before the War were Karl Goldschmidt, Hans Goldschmidt, and E. Stassfurth, resident in Germany, and R. Stutz, a naturalised British subject resident in this country. Since the War the business has been managed by Mr. Stutz subject to the supervision of a controller appointed by the Court on the application of the Board of Trade. The company owns certain patents in respect of all of which licences can be granted by the Board of Trade to British firms and licences have been granted to one British firm. The shares of the company were vested in the public trustee under the provisions of the Trading With the Enemy Amendment Act, 1916, and he has recently entered into an agreement to sell the whole of those shares to a British company.

Mr. HOUSTON

Can my right hon. Friend say whether this company will be wound up, seeing that it is an entirely enemy company?

Mr. HARCOURT

I am not quite sure what the exact process will be, but a sale of shares to a British company has been arranged.

Mr. BUTCHER

Has this company been under the consideration of the Advisory Committee of the Board of Trade?

Mr. HARCOURT

I think so, but I should not like to say so off-hand. I will tell the hon. Member later.