Mr. De la Bèreasked the President of the Board of Trade whether his attention has been drawn to the fact that the Railway Finance Corporation formed in December, 1935, has never issued any public profit-and-loss statement or statement as to how certain moneys have been expended; and whether, since this company has obtained a guarantee from the Treasury for £26,500,000 both as to principal and interest, he will take steps to ensure this being done?
§ Mr. CrossThe company to which my hon. Friend refers has issued its accounts up to the 31st December, 1937, a copy of which has been filed with the Registrar of Companies at Bush House, W.C.2, and can be inspected by any member of the public on payment of a fee of one shilling; The company was set up merely for the 409W purpose of raising and lending to the railway companies money guaranteed by the Treasury and receiving and distributing money received from the railway companies in payment of their obligations. As stated in the report of the directors which is filed with the accounts, no profit or loss arises from the company's operations and for this reason the directors lay no profit-and-loss account before the shareholders.