§ 39. Mr. WISEasked the Chancellor of the Exchequer who holds the first and second debentures of the British Cellulose Company, and who obtained the 750,000 preference shares of the same company which were given away on the re-organisation?
Mr. YOUNGFrom the speech of the chairman of the company at the general meeting held on 1st May, it appears that the first debenture is held by the company's bankers and the second debentures by creditors who, it is believed, supplied the company with plant and machinery. The preference shares surrendered by the Government will form one of the assets of the company subscribing to the new debenture issue.