§ 67. Mr. Bowlesasked the Parliamentary Secretary to the Ministry of War Transport in what circumstances the railway companies became the owners of Messrs. Thomas Cook and Son, Limited.
§ The Parliamentary Secretary to the Ministry of War Transport (Mr. Noel-Baker)In 1940, the share capital of Thomas Cook and Son passed to the Custodian of Enemy Property. After negotiations, the custodian sold the share capital to Hays Wharf Cartage Company, Hays Wharf, as a subsidiary of the four main line railway companies. The purpose of the agreement was to carry on the business of Thomas Cook and Son as a going concern under British control. The Railway Companies (Thomas Cook and Son, 171 Ltd., Guarantee) Act, 1942, authorised the railway companies to give guarantees and to make the other financial arrangements which were required.
§ Mr. G. StraussMay I ask the Minister whether the shares of Thomas Cook and Son, Ltd., were offered to anybody else? Were they put on the market, or was there direct negotiation? Did anybody else have an opportunity of buying those shares?
§ Mr. Noel-BakerI would like notice of that Question. I am afraid I do not know the exact facts.
§ Sir Frank SandersonIs it not a fact that this is a matter entirely between Thomas Cook and Son and the railway companies interested?
§ Mr. Noel-BakerNo, it belongs to the Custodian of Enemy Property.