§ 58. Sir C. Osborneasked the Secretary of State for Industry, Trade and Regional Development if he will order an investigation into the affairs of the Crown Cork Company Limited, a British subsidiary of an American concern which previously paid a 25 per cent. dividend to its British shareholders from earnings of 45 per cent., and which now proposes to pay no dividend though earnings have been maintained, which has caused share prices to fall from over 50s. to 25s. to the loss of both British shareholders and the Treasury: and if he will make a statement.
§ Mr. D. PriceNo approach has been made to the Board of Trade, and, from the information available, there do not appear to be grounds for initiating an investigation under the Companies Act.