§ 55. Mr. WISEasked the Chancellor of the Exchequer if the British Cellulose Company has sold its power station; and, 1416 if so, what is the price and who has bought it?
§ Sir R. HORNEAn agreement has been made under which the Cellulose Holding and Investment Company have an option to purchase the power station at a price of £200,000 and it is likely that the option will be exercised.
§ 56. Mr. WISEfurther asked if the Government has any nominee on the board of directors of the Cellulose Holding and Investment Company; and what is the relation between this company and the British Cellulose Company?
§ Sir R. HORNEThe Government has no nominee on the board of the Cellulose Holding and Investment Company in which company the Government has no financial interest. The relationship between the Cellulose Holding and Investment Company and the British Cellulose Company is that the Cellulose Holding and Investment Company are purchasing £500,000 first mortgage debenture stock from the British Cellulose Company.