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British Cellulose Company.

Oral Answers to Questions — Post Office. – in the House of Commons on 25th May 1922.

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Photo of Mr Fredric Wise Mr Fredric Wise , Ilford

55.

asked the Chancellor of the Exchequer if the British Cellulose Company has sold its power station; and, if so, what is the price and who has bought it?

Photo of Sir Robert Horne Sir Robert Horne , Glasgow Hillhead

An agreement has been made under which the Cellulose Holding and Investment Company have an option to purchase the power station at a price of £200,000 and it is likely that the option will be exercised.

Photo of Mr Fredric Wise Mr Fredric Wise , Ilford

56.

further asked if the Government has any nominee on the board of directors of the Cellulose Holding and Investment Company; and what is the relation between this company and the British Cellulose Company?

Photo of Sir Robert Horne Sir Robert Horne , Glasgow Hillhead

The Government has no nominee on the board of the Cellulose Holding and Investment Company in which company the Government has no financial interest. The relationship between the Cellulose Holding and Investment Company and the British Cellulose Company is that the Cellulose Holding and Investment Company are purchasing £500,000 first mortgage debenture stock from the British Cellulose Company.