HC Deb 08 May 1923 vol 163 c2157
61. Mr. POTTS

asked the Chancellor of the Exchequer whether, seeing that Lord Inchcape represents the British Government on the Anglo-Persian Oil Company, Limited, with share capital £20,000,000 in £1 shares, he will state the number of shares held by the British Government and the actual profits made by the said company for the years ending March, 1917, 1918, 1919, 1920, 1921, and 1922 after providing debenture interest, Income Tax, royalty, and provision for depreciation?

Mr. BALDWIN

As the answer contians a number of figures I will, with the hon. Member's permission, circulate it in the OFFICIAL REPORT.

The following is the answer:

The Government hold the following shares in the Anglo-Persian Oil Company:

5,000,000 £1 Ordinary Shares, fully paid.
1,000 £1 8 per cent. Cumulative First Preference Shares, fully paid.
£199,000 in 5 per cent. Debentures.
The net profits of the company for the years in question after providing for home charges, debenture interest, Income Tax, royalty and depreciation, were as follows:
Year ended 31st March: £
1917 … … … 344,110
1918 … … … 1,308,558
1919 … … … 2,010,805
1920 … … … 2,611,615
1921 … … … 4,028,022
1922 … … … 2,730,381