Sir F. HALLasked the Secretary to the Treasury whether the Government, in granting permission for new issues to be made, does so only provided they are not of a speculative or hazardous nature; and, if this Regulation is not always adhered to, on what grounds the Treasury refused to grant the recommendation of the Select Committee on Inland Transport that the New Transport Company be allowed to raise fresh capital to further demonstrate its system?
§ Mr. BALDWINIssues of a speculative and hazardous nature have only been authorised to meet urgent war requirements. I think it would in any case be desirable for the application of the New Transport Company to wait until the new Minister of Communications can be consulted.