§ 31. Mr. ROSEasked the Parliamentary Secretary to the Ministry of Munitions if the increase, by the issue of bonus shares, of the capital of the Metropolitan Wagon Company from £1,000,000 to £3,000,000 was authorised by the Ministry in accordance with the powers vested in the Ministry by Section 5, Sub-section (4), Part II., of the Munitions of War Act, 1915; if so, upon what grounds; and, if not, does he intend to proceed against the company for unauthorised alteration of capital?
§ The PARLIAMENTARY SECRETARY to the MINISTRY of MUNITIONS (Mr. James Hope)I am advised that the Act in question contains no provisions requiring the authorisation by the Minister of Munitions of the increase by a company of its capital. The remainder of the question, accordingly, does not arise.
§ 32. Mr. ROSEasked the Parliamentary Secretary to the Ministry of Munitions if he will state the nature and approximate value of the tank components supplied to the Metropolitan Wagon Company in the six contracts placed with them; how many tanks were placed at the price of £3,820, 2482 and how many at the reduced price of £2,850; and if the company merely assembled supplied elements?
§ Mr. HOPEThe Ministry of Munitions contracted to supply the company with the armament and sundry small components of the tanks to the approximate value of £2,000 per tank. The company contracted to obtain the engines, manufacture the hulls, and assemble the parts. 1,152 tanks were placed at £3,820, and 1,600 at £2,850.