§ 13. Mr. ORMSBY-GOREasked the President of the Board of Trade whether any interest has yet been received on the capital invested by the Government in the British Dyestuffs Corporation; if so, what; and what amount of net receipts from this investment is expected during the coming years?
§ Mr. BALDWINThe dividends on the Government investment in the British Dyestuffs Corporation, Limited, have hitherto been at the rate of 7 per cent. per annum on the non-cumulative preference shares and 8 per cent. per annum on the preferred ordinary shares, and the net amounts received to date are £43,424 10s. 6d. and £49,693 2s. 8d., respectively. I am unable to anticipate the dividends for future years.
Major BARNESIs the right hon. Gentleman aware that the £1 shares of this company have fallen to 2s., and does he know what is the market value at the present time of the Government's holdings in this company?
§ Mr. BALDWINI am afraid I do not.
Sir F. HALLIs it not a fact that there are many enterprises, including shipping, where shares were issued at par and are now worth nothing?