HC Deb 11 March 1920 vol 126 cc1540-1W
Mr. REMER

asked the Chancellor of the Exchequer the date, or dates, when the £1,450,000 was advanced to the British Cellulose Company, and the amount advanced on each date?

Mr. HOPE

I have been asked to reply. The answer is as follows:—

Payments made to the British Cellulose and Chemical Manufacturing Company, Limited.
Date of Payment. Amount.
£
August 24, 1917 25,000
September 4, 1917 75,000
September 28, 1917 100,000
June 27, 1918 235,000
July 6, 1918 50,000
July 20, 1918 200,000
August 17, 1918 100,000
September 6, 1918 50,000
September 19, 1918 50,000
September 27, 1918 100,000
October 4, 1918 50,000
October 12, 1918 3,000
October 16, 1918 50,000
October 25, 1918 6,000
November 20, 1918 6,000
November 20, 1918 15,000
November 25, 1918 22,000
November 29, 1918 10,000
February 6, 1919 303,000
£1,450,000

These payments were in respect of charges necessarily incurred earlier than the dates shown. They were made under the terms of agreements which were consolidated into one agreement dated 27th June, 1018.

Mr. KILEY

asked the Parliamentary Secretary to the Ministry of Munitions whether he is aware that the prospectus published in the newspaper press offering £2,800,000 cumulative participating preference shares in the British Cellulose and Chemical Manufacturing (Parent) Company, Limited, to the public fails to make essential disclosures required of a published prospectus by Section 81 of the Companies (Consolidation) Act of 1908; that the prospectus in particular fails to state the number and amount of shares issued as fully or partly paid up otherwise than in cash and the consideration for which those shares have been issued, and also fails to give the dates of and parties to every material contract and full particulars of the nature and extent of the interest in the promotion of the company of every director so interested; was he informed about the particulars thus withheld from the public; and, if so, will he inform the House of these particulars?

Mr. HOPE

The responsibility for the advertisement of the issue rests not with the Government but with the issuing house. I am not, however, aware of any omission on their part of any particulars required by law to be given, and I am advised that the advertisement was not a "prospectus" within the meaning of Section 81 of the Companies (Consolidation) Act, 1908.

Mr. REMER

asked the First Lord of the Admiralty what was the nationality of Mr. Camille Dreyfus, managing director of the British Cellulose Company; what was his country of origin; and whether he was naturalised in Britain or any other country?

Dr. MACNAMARA

I am advised that Dr. Camille Dreyfus is of Swiss nationality and Switzerland is his country of origin. Both of his parents were of French nationality. He has not been naturalised in Great Britain or in any other country.