HC Deb 26 September 1944 vol 403 cc9-10
14. Commander Bower

asked the President of the Board of Trade what is the purpose of the Export Merchants Guarantee Company, Limited, registered on 15th July, 1944; who are the directors of this company; by whom were they selected; whether any of them have experience as merchants in the export trade; and whether the accounts of this company will be made available to the public.

Mr. Dalton

As the answer to this Question contains much detail, I will, with my hon. and gallant Friend's permission, circulate it in the OFFICIAL REPORT.

Commander Bower

Can the right hon. Gentleman give an assurance that this company is not being formed with the object of ousting existing exporters?

Mr. Dalton

If my hon. and gallant Friend will read the answer, he will see that that is not so.

Following is the information:

The interests of the Export Merchants Guarantee Company are limited to Middle East markets. It was formed to deal with certain goods that may, from time to time, in present circumstances, become available for these markets, but which cannot conveniently be dealt with through normal trade channels, for example, because the quantities are not large enough to divide equitably amongst the merchants ordinarily engaged in the trade. The Company will share any profits derived from such transactions between its members, and membership is open to all general export merchants who have previously traded with the territories in question, or to any others who may be nominated for membership by a Government Department.

The company was formed under the auspices of the National General Export Merchants Group, with the knowledge and approval of the Board of Trade. The directors were chosen by a general meeting of the National General Export Merchants group, and those so far appointed are:

Mr. A. Hollam.—A director of John Batt and Company.

Mr. R. Homsy.—A partner in Selim Homsy and Company.

Mr. D. Bruce Scott

(Managing Director):

General Manager of De Clermont and Donner Limited.

Mr A. S. Todd.—Chairman of the National General Export Merchants Group. A director of Gordon Woodruffe and Co. and of Biddle Sawyer and Co.

Mr. E. H. Wenham.—Director of Mitchell Cotts (Middle East) Limited and of Temperley's Haslehurst and Co. Limited.

The accounts of the company will be dealt with according to the ordinary rules of Company Law.