§ 64. Mr. Chamberlainasked the Chancellor of the Exchequer why the Capital Issues Committee approved the application of Messrs. Hoover, Limited, for permission to issue further capital in the form of 540,000 ordinary shares of 5s. each, in view of the fact that this company has made a net profit during the past three years of over £1,750,000, most of which has been distributed as dividends and bonuses, which were at the rate of 25 per cent. dividend plus 5 per cent. bonus in 1945, and 30 per cent. dividend plus 10 per cent. bonus in 1946 and 1947.
§ Sir S. CrippsThe Committee were satisfied that this company needed to raise over £800,000 of new capital.