§ 31 and 32. Major NATHANasked the Secretary of State for the Colonies (1) whether the International Tin Committee is from time to time informed as to the direct and indirect interests in tin of 768 the members of the advisory committee; and, if so, whether the International Committee had the latest information before it at the meeting at the Hague on or about 20th February;
(2) whether the International Tin Committee at its meeting at the Hague, on or about 20th February, had before it when making its decision to postpone alteration in the tin production quotas any information as to the existence of a group of speculators or private tin pool, as to the tin commitments of such group or private pool, and as to the arrangements for the liquidation of the same?
§ The SECRETARY of STATE for the COLONIES (Sir Philip Cunliffe-Lister)The technical advisers to the Government delegations, which constitute the International Tin Committee, are all busines men who are interested in tin. The particular companies in which each is interested are known to the international committee. I am informed by the chairman of the international committee that the private tin pool has always been willing to give information to the international committee as regards its holding of tin, and that the committee was in possession of this information at its recent meeting. I should perhaps point out, to avoid confusion, that the present quotas which were fixed by the International Tin Committee in November last were fixed to operate for the quarter ending 31st March, and that the committee have announced that at their meeting on 14th March next they will fix the quotas to operate as from 1st April.
§ Major NATHANIs the right hon. Gentleman able to say whether the members of the International Tin Committee, in addition to information as to the stocks of tin held by various companies for dealing, have also information as to share-holdings or other interests of members of the advisory committee in those companies
§ Sir P. CUNLIFFE-LISTERI am not sure that I follow the question. I asked the chairman of the International Tin Committee what information the committee had as to interests of members of the advisory committee in tin and as to the pool, and I have given the answer which I received. Perhaps if the hon. Gentleman has some other points on which he would like to have information, he will put down another question.
§ Major NATHANMay I refer the right hon. Gentleman to the question which relates to the interests in tin of members of the advisory committee? It is to that point that I would direct his attention, and his answer, if I may say so, does not touch it.
§ Sir P. CUNLIFFE-LISTERIf the hon. Gentleman means to ask whether the International Tin Committee knows exactly how many shares in a particular company an adviser holds, I think it is most unlikely; in fact, I feel sure, they do not.
§ Major NATHANDoes not the right hon. Gentleman agree that the members of the advisory committee should disclose to those who are asked to act upon their advice their full interests in the commodity in question?
§ Sir P. CUNLIFFE-LISTERAs I understand the information that I have received, that is substantially the case. I think so. I am told that they know all the companies in which the different people are interested, and, with regard to the particular question of the pool in tin, that they always disclose the tin holding of the pool.