Sir H. SAMUELasked the President of the Board of Trade in what year State 1879W trading in zinc concentrates commenced; what has been the total expenditure by the British Treasury up to date; what has been the loss incurred in 1928 and the total loss up to the present time; and how long it is proposed that the present arrangements shall continue?
§ Mr. W. R. SMITHThe existing contract for the purchase of zinc concentrates was entered into in the year 1918. The total gross expenditure recorded to date in connection therewith is £15,718,109. The loss on trading incurred in 1928 was £1,133,388 and the total loss at 31st March, 1929, as shown in the latest completed accounts was £5,800,688. The contract expires on 30th June, 1930, and it is expected that the balance of stocks then remaining will be disposed of by 30th June, 1931.