§ Sir J. BUTCHERasked the Chancellor of the Exchequer whether the Govern- 55W ment have any and, if so, what financial interest in the National Smelting Corporation; the capital of this company; what dividends they are paying on their shares; what contracts the Government have made with this company for the sale to them of Australian zinc concentrates; and what profits or losses have been made up to the present time on the sales to this company?
Mr. YOUNGWith regard to the first part of the question, I would refer my hon. and learned Friend to the answer given to the hon. and gallant Member for Central Hull (Lieut.-Commander Kenworthy) on the 28th February last. The capital of the company is made up of 500,000 shares of £l each. Dividends are not being paid. The Government is under contract to supply the company with 25,000 tons per annum of Australian concentrates for a period of 10 years from 1st January, 1913, on the same terms and conditions as those on which the Board of Trade have agreed to acquire a larger amount of concentrates from the Zinc Producers Association Proprietary, Limited. No profits or losses have been made as no deliveries have yet been affected.
§ Sir J. BUTCHERasked the Chancellor of the Exchequer the particulars of the contracts made by the Government for the purchase of Australian zinc concentrates, giving the quantities and prices; whether the Government have appointed the British Metals Corporation as their sole agents for the sale of these concentrates; and at what rate of commission?
§ Mr. BALDWINI would refer my hon. and learned Friend to the statement made by the Parliamentary Secretary to the Board of Trade during the Debate on the Supplementary Estimates on the 21st February. The British Metal Corporation have been appointed sole agents for the sale of these concentrates in markets west of Suez at a commission of 1 per cent, with a minimum of 2s. per ton. They are also the appointed agents for conducting assays at varying rates of 1s. 3d. and 1s. 4d. a ton.