HC Deb 12 December 1927 vol 211 cc1844-5

asked the Prime Minister whether, seeing that the Secretary of State for India and the Secretary of State for the Colonies retain certain rights of control over the Commonwealth Trust, Ltd., the attention of His Majesty's Government has been called to the directors' Report and the proposed proceedings for the annual meeting on the 15th instant, in which the directors intimate in advance that they will not oppose a motion which will be brought forward for voting to the trustees a sum of money, namely, £2,500, out of surplus profits not yet earned; and whether, in view of important negotiations now taking place with regard to the future of this company and of the fact that such a vote would prejudice the interests of the shareholders, His Majesty's Government is prepared to intimate to the directors that the intended procedure will require a full explanation?


I have been asked to reply to the hon. Member's question. I have not received this year the Annual Report of the Commonwealth Trust, Ltd., and I have therefore not seen the proposed proceedings for the annual meeting on the 15th inst., but I am asking the directors to furnish me with an explanation of the proposal to which the hon. Member refers.