§ Mr. W. THORNE
asked the Financial Secretary to the Treasury the number of shares and the amount of money the Government have invested in British Celanese, Limited; and whether the value of the shares has increased or decreased?
§ Mr. McNEILL
As has frequently been explained, the Government in 1920 took 1,450,000 7½ per cent. Cumulative Participating Preference Shares of £1 as payment for the war indebtedness of the company on debenture and mortgage. 750,000 of these shares were surrendered in 1922 on a reconstruction to obviate liquidation, and 200,000 were sold later in the same year at 7s. The balance of 500,000 shares was placed in 1923 in the hands of trustees for realisation and have recently been sold at 20s. net. His Majesty's Government's participation in the affairs of the company will consequently cease.