asked the President of the Board of Trade whether his atten-

balance, will he tell the House whether the balance is in favour of the United States or against?

Mr. GRAHAM:

In the sense that there were more visible exports, it was in favour of the United States, but, of course, that is not by any means the end of the story.

Mr. WILLIAMS:

Arising out of that—

We cannot enter into an argument.

Following is the statement:

tion has been called to the affairs of the International Sleeping Car Trust; and whether he will request the Law Officers of the Crown to investigate the circumstances surrounding the sale of the shares of the Compagnie Internationale de Wagon-Lits to the above-named trust?

The answer to both parts of the question is in the negative.

In view of the fact that £4,250,000 has been lost in this transaction, will the right hon. Gentleman ask the shareholders to ask for an inquiry, even if he cannot take the initiative?

That does not lie with me under the Companies Act, but, if the necessary support from shareholders is forthcoming, as I understand it, an inquiry will be made.