HC Deb 21 March 1928 vol 215 cc375-6

asked the Secretary of State for the Colonies whether, seing that surplus profits in the Commonwealh Trust are defined as being surplus profits after a cumulative dividend of 5 per cent. has been paid to the shareholders, and that such liability has not been discharged, he has any information as to the surplus profits from which payment has been or can be made for educational purposes in India and Africa?

The SECRETARY of STATE for the COLONIES (Mr. Amery)

No, Sir. As a matter of fact no surplus profits have been earned and no payment has been made for any purpose in Africa. In the case of the payments made in India they were made from sums earned before the formal transfer of the properties to the Commonwealth Trust as I explained in my answer to the hon. Member for Carnarvon (Major Owen) on Monday.


How soon is the right hon. Gentleman likely to be able to make a statement with regard to the negotiations that are going on?


I hope very soon.