HC Deb 18 February 1930 vol 235 cc1123-4
7. Dr. VERNON DAVIES

asked the President of the Board of Trade whether he is aware that the engineering firm of Clayton and Shuttleworth is now in liquidation owing to its losses in Russia; and what steps he is taking to assist the liquidators to recover the claims of the firm against Russia, amounting to upwards of £301,843?

Mr. W. R. SMITH

I understand that a Receiver for the debenture holders of this company has been appointed, but I have no information as to the extent to which losses in Russia have brought about the present position of the company. Claims by this company and others are registered with the Russian Claims Department. As regards such claims, I would refer the hon. Member to the reply given on 12th February by the Secretary of State for Foreign Affairs to file hon. Member for Barnstaple (Sir B. Peto).

Dr. DAVIES

Would the hon. Gentleman agree with his colleague the hon. Lady the Member for East Middlesbrough (Miss Wilkinson), that Russia is the safest country in the world to which to lend money?

Mr. R. A. TAYLOR

Is it not a fact that this firm was allowed to write off most of this loss before they paid Excess Profits Duty—

Mr. SMITH

I could not answer that question without notice.

Mr. TAYLOR

— and that this loss had nothing whatever to do with Russia?

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