§ 26 and 28. Mr. REMER
asked the President of the Board of Trade (1) whether he will approach the various leading British shipowners' associations and suggest to them that they should themselves nominate their own joint representatives to fill future vacancies on the board of the Suez Canal Company;
(2) if he will state the method by which directors are selected to represent British shipping and British shipowners on the board of the Suez Canal Company?
§ Mr. W. GRAHAM
I am informed that under the London Agreement of 1883 seven directors chosen from among British shipowners and merchants were added to the board of the Suez Canal Company. These directors form what is known as the London Committee, and I understand that it is the practice of the committee on the occurrence of a vacancy in its membership to nominate a new member, whose name is then submitted to the board of directors for election and for subsequent confirmation at a meeting of shareholders. The question of the best means of securing proper representation for British shipping interests is one for the shipping industry itself.
§ Mr. GRAHAM
No, I think that I made it clear that it is largely an agreement between the Suez Canal Company and the shipping interests and that nominations will be made in that way.
33 and 34. Major THOMAS
asked the President of the Board of Trade (1) whether the present seven directors on the board of the Suez Canal Company under the agreement of 1883 represent British shipping and are themselves shipowners;
(2) whether the British Chamber of Shipping and the Liverpool Steamship Owners' Association are directly represented on the board of the Suez Canal Company?
§ Mr. GRAHAM
Under the agreement of 1883 the seven directors in question are to be chosen from amongst English shipowners and merchants. In fact six of the seven are either shipowners or closely connected with shipping. The Chamber of Shipping and the Liverpool Steamship Owners' Association are not directly represented on the board of the company but there are two ex-presidents of the chamber and two ex-chairmen of the Liverpool Steamship Owners' Association among these directors.