HC Deb 06 February 1934 vol 285 cc966-7
46. Mr. LOGAN

asked the Chancellor of the Exchequer if he is now in a position to state whether, in view of the disclosures in the evidence respecting the manipulation of Chosen shares by agreement dated 26th June, 1929, to which brokers and jobbers were party under the rules of the London Stock Exchange, he will take steps to oblige the committee of the London Stock Exchange either to alter their rules so as to protect the public against their members being party to pool and syndicate price fabrications such as were disclosed in the evidence given at the Guildhall on 13th April last, or to accept a charter?

The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)

I have read the evidence given on this occasion, and it does not appear to me, so far as I am able to form an opinion, that it supports the hon. Member's implication that, under the pooling arrangement in question, the price of the Chosen Corporation shares was fabricated. I see no reason for taking action on the lines suggested by the hon. Member, even if I had power to do so.


Is the right hon. Gentleman aware that a sworn testimony in the Guildhall Police Court declared the facts stated in the question, and is it not possible for him on that sworn evidence to take action?


I have read the evidence and it does not seem to bear out the hon. Member's suggestion. He is confusing two entirely different transactions.