§ 58. Mr. Swingler
asked the Minister of Agriculture, Fisheries and Food what is the extent of his shareholding as trustee for universities and colleges in the company called Allied Iron-founders; and if he is satisfied with the continuation of this holding in view of the company's recent contribution to Conservative Party funds.
§ Mr. Soames
Under the Universities and College Estates Act, 1925, I hold the proceeds of land transactions by certain universities and colleges who may ask me to invest these moneys for them in authorised trustee securities. It is for the bodies concerned to obtain proper advice on their investments and I then act in accordance with their instructions without influencing their choice.
The extent and continuation of individual shareholdings are matters for the bodies concerned and it would not be appropriate for me to disclose the one or to comment upon the other.
However, I understand that the Board of Trade records show me as holding 7,680 ordinary shares in Allied Ironfounders.