HC Deb 14 June 1921 vol 143 cc235-6
70. Mr. WISE

asked the Chancellor of the Exchequer the amount the Government has invested and lent to the British Cellulose and Chemical Company, Limited; and can he give any indication of the future prospects of the company?

Mr. YOUNG

With regard to the first part of the question, I would refer my hon. Friend to the answer which I gave yesterday in reply to questions by the hon. and gallant Member for Stafford (Mr. Ormsby-Gore) and the hon. Member for Bermondsey (Mr. Lort-Williams). As regards the latter part of the question, my right hon. Friend is not in a position to express an opinion as to the future prospects of the company.

Lord H. CAVENDISH-BENTINCK

Is the hon. Gentleman aware that when the prospectus was issued inviting subscriptions to this company, the company had not yet discovered the means of making artificial silk which was capable of taking a dye, and may I ask whether the representatives of the Government were responsible for this very questionable proceeding?

Mr. WISE

I understand that the answer yesterday was the amount the Government had invested in this company. Have they lent any money beside that?

Mr. YOUNG

I think the answer I gave yesterday relates to the whole of the present outstanding financial ties between the Government and the company.