§ 68. Mr. KILEYasked the Chancellor of the Exchequer the number of shares held by His Majesty's Government in the British Cellulose Company; what was the cash paid for such shares; what dividends, if any, have been received from this investment; what is the present Stock Exchange quotation; and if His Majesty's Treasury are paying salaries to some of the directors, what is the amount?
§ Sir R. HORNE1,450,000 7½ per cent. cumulative preference shares were allotted to the Government under agreement dated 28th February, 1920. The circumstances under which the Government accepted these preference shares in replacement of advances made during the War have been fully explained in the House. I would refer the hon. Member to the reply given by my predecessor as Chancellor of the Exchequer on 2nd March, 1920, to the hon. Member for East Grinstea[...]. No dividends have yet been paid. The Stock Exchange quotation on 2103 the 21st February, 1922, was 3s. 9d. to 4s. 3d. A salary of £500 per annum is paid by the Government to each of the two Government directors.