§ 51. Mr. CAUTLEYasked the Chancellor of the Exchequer whether he is aware that outside stockbrokers are advertising the £1 ordinary shares of the British Cellulose and Chemical Manufacturing (Parent) Company, Limited, for sale at 35s. each, and are recommending their purchase as being at this price likely to return to the buyer 28 per cent.; whether the issued capital is 4,250,000 7½ per cent. £l preference shares and 2,300,000 £1 ordinary; and whether he can state if the ordinary shares are mainly held by the directors and their friends, and how much cash was paid into the original company for what is now represented by a £1 ordinary share of this company?
The PARLIAMENTARY SECRETARY to the MINISTRY of MUNITIONS (Mr. J. Hope)I have been asked to reply. I have no knowledge which would enable me to answer the first and third parts of this question. The answer to the second part is in the affirmative. The fourth part does not admit of a direct answer, but I would refer my hon. Friend to the Report of Lord Sumner's Committee of last year for a full financial history of both companies.