§ Mr. REMERasked the President of the Board of Trade whether, in the failure of Messrs. Browning and Company, of London, the Imported Timber Disposal Section is an unsecured creditor for a large amount; what was the amount of the debt; whether most of the other large creditors are secured; and why open unsecured credit was given to this and other firms before efforts were made to dispose of this timber by public auction or tender on a cash basis?
§ Sir P. LL0YD-GREAMEThe Imported Timber Disposal Section is an unsecured creditor of Messrs. Browning and Company for £25,533. Most of the other large creditors hold security. Credit was given in this and other cases because it was not practicable at the time to effect large sales on a cash basis.