§ 74. Sir BASIL PETOasked the Secretary of State for the Colonies whether he is aware that a concession for 30 years from 1930 has been granted for the main area of Chipley Timber Concession in British Honduras to a foreign corporation; and whether any applications have been made from British subjects with a view to keeping the development of these great reserves of soft timber in British hands and available for the British Empire?
§ Mr. ORMSBY-GOREIn August, 1924, the Government of British Honduras publicly invited offers for a concession to be granted at the expiration of the Chipley Concession, in 1930. In April, 1926, with my approval, an agree- 1765 ment was signed with the Tidewater Lumber Company, providing for the revision of the concession on terms satisfactory to Government. No other proposals had then been made of a type complying with the conditions laid down, and I had the less hesitation in approving the grant in that the Tidewater Company, though controlled from abroad, was already firmly established in the Colony and was managed by a British subject.
§ Sir B. PETOCan the hon. Member say what is the nationality of the Tidewater Company, and where the profits from this company go?
§ Mr. ORMSBY-GOREI gather that the bulk of the shares are held in the United States of America.
§ Sir B. PETODoes that mean that this British timber is now definitely allocated to the United States of America from 1924, for over 20 years?
§ Mr. ORMSBY-GOREIt is not allocated, but, as a matter of fact, a very considerable proportion of the exports of British Honduras naturally go to the United States of America, because of shipping facilities and geographical position.
§ Sir B. PETOIs not there plenty of demand for British timber somewhere in the British Empire?