§ 59. Lord H. CAVENDISH-BENTINCKasked the Chancellor of the Exchequer whether he is aware that the British Cellulose Company, in the prospectus which they issued inviting the support of the public, stated that their plant was capable of turning out a large quantity of artificial silk, although at the time of issue of the prospectus the promoters of the company had not discovered the process of making an artificial silk which was capable of taking a dye; and was the Government responsible in any for the issue of this prospectus?
Mr. YOUNGThe Noble Lord has been misinformed in one particular. My right hon. Friend the Chancellor of the Exchequer is advised that the silk produced by the company has always been capable of taking dyes. With regard to the last part of the question, the responsibility for the advertisement of the issue rests, not with the Government but with the issuing house, but it is the case that the prospectus was submitted to the Government in order to approve the terms in which the prospectus referred to the Government's acceptance of preference shares.
§ Mr. BRIGGSIs the hon. Gentleman aware that this company has not, even yet, produced an article which is of the slightest use to traders?
§ Lord H. CAVENDISH-BENTINCKIs the hon. Gentleman aware that the British Cellulose Company has not yet been able, so far as I am aware, to sell any silk that is capable of taking dye?
Mr. YOUNGMy own information is not in accord with the suggestions contained in the supplementary questions, but, in order that I may give a careful answer, I should like notice of questions of that kind.