HC Deb 28 June 1927 vol 208 cc209-10
47. Viscount SANDON

asked the Chancellor of the Exchequer whether he has received a communication from the Government of Newfoundland on the subject of the possible sale of the Cornerbrook timber and pulp concern to a big combine operating in the United States; and, if so, whether he will, in stating the attitude of the home Government as joint guarantors under the Trade Facilities Act, give full weight to the undesirability of allowing so large a proportion of the colony's assets to pass into non-British hands?

Mr. Mc NEILL

I understand that my right hon. Friend the Secretary of State for Dominion Affairs has received a communication from the Newfoundland Government on the subject of the negotiations now proceeding as to the possible sale of the property in question. It is not possible to make any statement at present with reference to these negotiations, but my Noble Friend may rest assured that all relevant considerations will be borne in mind.

Mr. CONNOLLY

May I ask whether the Government have been called upon to meet any of the loss under the Trade Guarantee, and, alternatively, if the sale is not completed, will they be called upon to do so?

Mr. Mc NEILL

I cannot say that at present. Negotiations are proceeding, and it will be premature to make any statement.