HC Deb 27 February 1936 vol 309 cc682-3W
Mr. De CHAIR

asked the Minister of Agriculture (1) whether he will state the total value of cash bonuses distributed in 1935 by sugar-beet companies in receipt of the subsidy to the shareholders; and what proportion of these bonuses was paid to foreign shareholders;

(2) what the total value of the capital holdings is in the 15 sugar-beet companies which are proposed to be amalgamated; what is the value of the foreign capital holdings in these companies; and what is the proportion of this foreign holding to the whole?

Mr. ELLIOT

The total amount of outstanding share and debenture capital in the beet-sugar companies on the 31st March last amounted to £5,864,554. This figure is made up of £4,550,954 of paid up share capital and £1,313,600 of debenture capital. The amount of cash bonuses distributed to shareholders in these companies in 1935 amounted to £740,000. I regret that no information is available as to the proportion of foreign holdings or the proportion of the bonuses paid to foreign shareholders.

Colonel BURTON

asked the Minister of Agriculture whether he is now in a position to state the terms upon which the beet-sugar factories will be acquired by the British Sugar Corporation Limited; whether such terms have been submitted to the shareholders of the individual companies; can he state the total amount of share capital and debentures of the companies now operating sugar-beet in this country; and what amount will be paid to the factories in cash, debentures, or shares?

Mr. ELLIOT

Discussions regarding the amalgamation of the beet-sugar manufacturing companies are still proceeding between the Sugar Tribunal and representatives of the Beet Sugar Factories Committee, and pending the outcome of these deliberations it is not possible to give details of the terms upon which it is proposed that the companies should be merged. As regards the total amount of share capital and debentures of the companies, I would refer my hon. and gallant Friend to the reply I have just given to my hon. Friend the Member for South-West Norfolk (Mr. De Chair).