60. Mr. WHITEalso asked the Financial Secretary to the Treasury the amount of interest or dividends received by the Government on the investment in the Hoffman Manufacturing Company, and the amount of loss realised on the sale of this holding?
§ Sir W. JOYNSON-HICKSIn reply to the first part of the question, I would refer the Member to the full details given in my predecessor's reply of the 15th February, 1922, to the hon. Member for Wigan (Mr. Parkinson), which also applies to the period between that date and the 1st January last, when the Government ceased to have an interest in the company. Though, as stated in my reply to the hon. Member on Tuesday last, there is no doubt that there has been a loss on the whole transaction, there have been many compensating advantages to the State which it is impracticable to estimate. I am unable, therefore, to assign even an approximate figure to the real loss incurred.
Mr. GRAYWhy has there been a loss; and has the right hon. Gentleman seen the prospectus of this company, issued on 11th July of this year, which shows that the assets have nearly doubled, and that a dividend equal to £100,000 per annum for 11 years has been paid?
§ Sir W. JOYNSON-HICKSI have not seen it.
§ Sir W. JOYNSON-HICKSI imagine the Disposal Board, but if the hon. Member will put down a question, I will let him know exactly.