§ 56. Mr. WELLOCKasked the Financial Secretary to the Treasury at what date and under what circumstances 500,000 shares held by the Government in British Celanese, Limited, were sold at 20s. per share; and why they were sold at this time, in view of the fact that not long afterwards they realised as much as 125s.?
§ Mr. A. M. SAMUELAs regards the first part of the question, I would refer the hon. Member to the answer given by my predecessor on the 22nd June last, of which I am sending him a copy. These shares, which were sold just before that date, were cumulative participating preference shares; they have never attained the price referred to in the last part of the question, which appears to be that quoted a short time ago for the ordinary shares.
§ Mr. WELLOCKWill the hon. Gentleman agree that the value of the ordinary shares will affect the preference shares, and seeing that not long before this rise took place these shares were sold, will he not disclose the name of the buyer?
§ Sir H. BRITTAINMay I ask the right hon. Gentleman whether in any case the Treasury is expected to keep a prophet on the premises?
§ Mr. WELLOCKMay I ask—
§ Mr. SPEAKERWe must not debate the question.