HC Deb 18 April 1921 vol 140 cc1503-4
10. Lieut.-Colonel Sir F. HALL

asked the President of the Board of Trade when the Products Corporation, Limited, of Buchanan Buildings, Holborn, was registered; what is the authorised capital of the company; whether any of such capital has been subscribed directly or indirectly from German sources; who are the directors of the concern; and what are the principal objects for which the business is supposed to have been established?

Sir P. LLOYD-GREAME

Products Corporation, Limited, was registered on the 8th January, 1921, with a nominal capital of £50,000 divided into £1 shares. According to the memorandum of association the main objects of the company are to carry on the businesses of dealers in chemicals, chemical manufacturers and agents, coal merchants, colliery proprietors and iron and steel masters. The directors are: W. S. Hopkins, F. Harold Johnson and P. Ronald Remington. The whole of the share capital has been allotted for cash to the three directors. Inquiries are being made as to whether any of such capital has been subscribed directly or indirectly from German sources.

Sir F. HALL

If I put a question down this day week will my hon. Friend be able to supply the information?

Sir P. LLOYD-GREAME

I really cannot say. Inquiry is being made in view of a particular application and that application will not be dealt with until the result is known.

Sir F. HALL

Does my hon. Friend recognise the importance of the question and the fact that a very high German magnate is supposed on good authority to be very closely connected with this concern? Does he not recognise the necessity of looking after our trade and seeing that Stinnes & Co. do not get trade which should go to our own countrymen?

Sir P. LLOYD-GREAME

I realise most keenly the necessity of making full inquiry and such inquiry is being made in every case where licences under the Non-Ferrous Metals Act are applied for.