§ 72. Mr. G. WHITEasked the Financial Secretary to the Treasury the terms on which the Government interests in the Hoffman Manufacturing Company were acquired and subsequently sold, and the amount of the loss realised on this transaction?
Mr. GRAHAMThe terms on which the Government's interests in this company were acquired were given in reply to the hon. Member for Wigan on the 15th February, 1922. As then stated, the Government purchased the whole of the issued capital of the company, namely, £89,556 7 per cent. Cumulative Preference Shares of £1 each, fully paid, and £155,889 Ordinary Shares of £1 each, fully paid, at a total cost of, approximately, £1,280,000. With regard to the second and third parts of this question, I 257 would refer the hon. Member to the answer given to him on the 17th July last.
Mr. GRAHAMI cannot give the amount of the loss off-hand, but it was indicated by a predecessor of mine in office that there had been a loss. I will make inquiry and see if I can meet the hon. Member.