HC Deb 29 July 1914 vol 65 cc1335-6W

asked the President of the Board of Trade whether his attention has been called to the number of subsidiary companies recently promoted through the medium of the Marconi Company; whether he is aware that the price of all the shares in these subsidiary companies has fallen considerably below the issue price; whether he is aware that no less than three suits are pending for the recovery of money alleged to have been improperly made in connection with the issue of certain of these shares; and whether the Board of Trade is prepared, pursuant to its powers under the Companies (Consolidation) Act, 1908, Section 109, to appoint one or more competent inspectors to investigate the affairs of these companies and the conditions under which flotations and issues were made?


I have no knowledge concerning any such companies as are referred to in the first part of the question. The powers of the Board of Trade under the provisions of Section 109 of the Companies (Consolidation) Act, 1908, to appoint an inspector to investigate the affairs of a company only arise on an application being made by members holding not less than one-tenth of the shares issued. No such application has been received in the case of any company connected with Marconi's Wireless Telegraph Company, Limited, and the jurisdiction of the Board to appoint an inspector has not therefore arisen.

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