HC Deb 19 May 1919 vol 116 c66W

asked the Parliamentary Secretary to the Ministry of Munitions whether he is aware that, according to the Annual Return filed at Somerset House by the National Smelting Company, Limited, on 6th November, 1918, the shareholders had only subscribed Is. per shares of £l each on 500,000 shares or £25,000 in all, while the Government had advanced £300,000 on debentures; how much the Government has since advanced; whether the shareholders have subscribed the balance of 19s. per share; and whether, in view of the fact that the company has suspended building operations at Avonmouth, the Government propose to take action?


The Government have to date advanced £510,000 on debentures. The shareholders have paid Is. per share and there is at present 19s. per share uncalled. The various Government Departments are considering the whole position and experts are being consulted.