HC Deb 03 December 1919 vol 122 cc412-3W

asked the Chancellor of the Exchequer if he will state the terms of the agreement under which public moneys have been invested in the Anglo-Persian Oil Company; the amount invested; the nature of the investment; and the names of the directors of the Anglo-Persian Oil Company?


His Majesty's Government at present hold 2,000,000 £1 shares in the Anglo-Persian Company, out of 3,000,000 ordinary shares, and have agreed to subscribe in the same proportion to the total ordinary share capital for a further 3,000,000 ordinary shares of £1 each, on which Is. per share will be immediately paid up. It has been arranged that the remaining 19s. per share on 2,000,000 shares will be paid up shortly. The calls on the remaining 1,000,000 shares will not be made for some years. Tentative arrangements for financing the call of 19s. per share on the 2.000,000 shares have been made and will be embodied in a Bill which will be presented to the House immediately.

The names of the directors of the Anglo-Persian Oil Company are:

  • Sir Charles Greenway, Bt., chairman.
  • Admiral Sir E. J W. Slade, K.C.I.E., K.C.N.O., vice-chairman.
  • Sir Hugh S. Barnes, K.C.S.I., K.C.V.O. John T. Cargill.
  • James Hamilton.
  • Rt. Hon. Lord Inchcape, G.C.M.G., K.C.S.I., K.C.I.E.
  • F. W. Lund.
  • Rt. Hon. Lord Southborough, G.C.B., G.C.M.G., etc.
  • Frank C. Tiarks.
  • Robert I. Watson.
  • Sir T. R. Wynne, K.C.S.I., K.C.I.E.
  • Sir Frederick W. Black, K.C.B., H.E. Nichols, J.B. Lloyd, and Duncan Garrow, managing directors.
Lord Inchcape represents the Treasury and the Admiralty on the board of the Anglo-Persian Oil Company and its subsidiary companies, and perhaps I should state that he gives his services gratuitously, having since 1914 voluntarily paid over to the Treasury the remuneration he has received as a director.