§ 15. Mr. ORMSBY-GORE
asked the President of the Board of Trade what is the present holding of the British Government in the British Cellulose Company; and what are the net receipts from this investment to date?
§ 108. Mr. GLANVILLE
asked the Chancellor of the Exchequer what is the amount which the Government has invested in the British Cellulose and Chemical Manufacturing Company, Limited; what is the amount of interest or dividend which the Government has received thereon for the year 1920; how many directors the Government has appointed to the board of directors of the company; and what is the remuneration of a director of the company?
The Government holds 1,450,000 7½ per cent. "A" cumulative participating preference shares in the company. No dividend has been received thereon for the year 1920. There are two Government directors on the board, who receive fees at the rate of £500 a year each.
§ Mr. ORMSBY-GORE
Will the Government consider cutting their losses and ceasing to subsidise this concern, in accordance with the desire expressed by the President of the Board of Trade last week?
My hon. Friend will see that that question involves a question of policy which will have to be taken into consideration.
Mr. MacCALLUM SCOTT
Is the Government subsidising this company at the present time? Is there any further subsidy being given?
§ Colonel WEDGWOOD
They have appointed two directors at £500 a year each.