§ Mr. ALFRED DAVIES (Clitheroe)asked the President of the Board of Trade (1) whether Messrs. Courtaulds have any interest or shares in the British Cellulose and Chemical Manufacturing Company, Limited; and if he will say by whom and for whom are the 2,800,000 7½ per cent. preference shares recently issued underwritten; (2) Whether he will see that so far as the manufacture of artificial silk is concerned, the British Cellulose and Chemical Manufacturing Company, Limited, shall work independently of any combine; whether he can give any indication as to when the Company will be in a position to supply artificial silk to users of the same; and, in view of the fact that 463W the Company has been and is still financed by the Government, will this article be sold at a price showing a reasonable profit only?
Mr. HOPEI have been asked to reply to these questions. The Government are shareholders in this Company, and can only exercise a limited control over the general policy of the Company through their voting powers and the powers conferred on the two Government directors. I have no information as to who are the other shareholders, or as to when the Company will be in a position to supply artificial silk. The issue of preference shares has been underwritten by Messrs. Dunn, Fisher and Company, 41, Thread-needle Street, E.G.