HC Deb 07 July 1932 vol 268 cc614-6
55. Mr. GROVES

asked the President of the Board of Trade whether he is aware that the general body of shareholders of the St. Mary's Steamship Company, Cardiff, were never permitted access to the report of the inquiry instituted by his Department into the affairs of the said company; and whether he will now take steps to see that all share- holders having interests in the concern shall be permitted to have access to any reports appertaining to their concern?

Mr. HORE-BELISHA

I would refer the hon. Member to the reply given to him by my right hon. Friend on the 24th May.

Mr. GROVES

As there is great dissatisfaction among the shareholders in regard to this matter, will the hon. Gentleman receive a deputation from them?

Mr. HORE-BELISHA

I cannot understand the grievance of my hon. Friend. The company has been provided with a copy of this report. The applicants who made the request that the inquiry should be held have been provided with a copy, and the Director of Public Prosecutions has been provided with a copy. Therefore, anybody concerned ought to have access, through his legal representative, to this report.

Mr. GROVES

It is not my grievance. The people who have the grievance are those who have lost money. They have been denied a copy of this report and have no access to it. Will the hon. Gentleman consider the grievance of the shareholders in this matter?

Mr. HORE-BELISHA

The grievance cannot be against the Board of Trade. The grievance must be against their own solicitors.

Mr. GROVES

Is the hon. Gentleman aware that his Department instituted the inquiry and denies to the shareholders the right to peruse the report of the inquiry?

Mr. HORE-BELISHA

That is not the case. The Department, it is true, held an inquiry at the request of certain applicants. The applicants have been provided with a copy of the report and so has the company.

Mr. GROVES

Is the hon. Gentleman prepared to publish the report which is in the possession of his Department, and, if not, why not?

Mr. HORE-BELISHA

The Statute does not require the publication of these reports, but those concerned are provided with copies. In this case, they have been provided with copies.

Sir P. HARRIS

Are not the shareholders the people who are primarily concerned?

Mr. HORE-BELISHA

Yes, Sir, and they have been provided with a report which has been supplied to the offices of the company.

Mr. GROVES

Is the hon. Gentleman aware that that is not correct, and that they are denied access to the report?

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