§ Sir P. Hannonasked the Chancellor of the Exchequer whether it is intended to set up any special commercial organisation to encourage trade in areas where it is especially desirable, in the conditions arising out of the war?
§ Sir J. SimonHis Majesty's Government have come to the conclusion that, as a contribution to meeting the difficulties attending the development of United Kingdom trade with certain neutral countries, it is desirable that a special trading company should be formed. They have accordingly decided to set up a trading company called "The English Commercial Corporation, Limited," whose function332W it will be to conduct trade with the countries in question. The capital of the company will be subscribed by the Treasury. The company will carry out its work as a commercial and independent entity, subject to general consultation with His Majesty's Government on the broad lines of its policy. It is intended not that the company should supplant existing channels of trade, but, on the contrary, that it should make use of them to the fullest possible extent. For the present the company will be primarily concerned with trade with Bulgaria, Greece, Hungary, Rumania, Turkey and Yugoslavia. It may, however, conduct business elsewhere if appropriate occasions arise.
The following have agreed to serve on the Board of the company:
The Right hon. Lord Swinton, G.B.E., M.C. (Chairman).
Mr. A. Chester Beatty.
Mr. G. St. Q. Beasley.
Mr. C. P. Lister.
Mr. G. A. McEwen.
Mr. J. H. Hambro.
Mr. F. H. Nixon, C.B.
It is expected that the company will be registered on 15th April, and its address will be Plantation House, Rood Lane, London, E.C. From that date all inquiries should be addressed to the Secretary of the Company, Mr. G. H. Gunson.