HC Deb 23 June 1926 vol 197 c368
48. Sir F. WISE

asked the Chancellor of the Exchequer if the dividend on Suez Canal shares and bonds is paid in francs; and, if so, what is the loss to the State, taking francs at 150 compared to 25 in pre War days?

Mr. McNEILL

The answer to the first part of the question is in the affirmative As regards the second part, the earnings of the company in dues are on a gold basis, and the number of francs available for payment of dividend thus increases in proportion as the franc falls.

Lieut. - Commander KENWORTHY

Will the right lion. Gentleman make representations on this matter, seeing that British ships passing through the Canal have to pay their dues in sterling?

Mr. McNEILL

It is on a gold basis.

Lieut. - Commander KENWORTHY

Are we not to understand that the dividends are being paid in paper francs?

HON. MEMBERS

No.

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