HC Deb 18 August 1919 vol 119 cc1924-5W
Lieut.-Colonel MURRAY

asked the Chancellor of the Exchequer whether he will state or will give a Return showing what has been the result of the compulsory seizure in November, 1917, by the Treasury of shares in the Royal Dutch Company for working petroleum mines, stated to be seized in order to use them for the purpose of acting on the exchange, a payment of £51 per share being made to the owners by the Treasury as compensation for the seizure; what was the total number of shares then seized and the amount paid to the owners for them; how were they used to influence the rate of exchange; whether their use did in fact influence it, and, if so, how; and does His Majesty's Government propose to compensate those who were thus deprived of their property for a public purpose?

Mr. CHAMBERLAIN

I would refer the hon. and gallant Member to the answer given to the hon. and gallant Member for the Isle of Thanet Division. The shares were sold abroad, and the proceeds used to support the exchange between this country and Holland.

Lieut.-Commander KENWORTHY

asked the Chancellor of the Exchequer whether he will now state or will give a Return stating what has been the result of the compulsory seizure in November, 1917, by the Treasury of shares in the Royal Dutch Company for working petroleum mines, stated to be seized in order to use them for the purpose of acting on the rate of exchange, a payment of £51 per share being made to the owners by the Treasury as compensation for the seizure; what was the total number of shares then seized and what the amount paid to the owners for them; how they were used to influence the rate of exchange; whether their use did influence it; if so, how; and does His Majesty's Government propose to compensate those who were thus deprived of their property for a public object?

Mr. CHAMBERLAIN

I would refer the hon. and gallant Member to the answer given to the hon. and gallant Member for the Isle of Thanet Division. The shares were sold abroad, and the proceeds used to support the exchange between this country and Holland.