Holding Companies.

Part of Oral Answers to Questions — Coal Industry. – in the House of Commons on 15th February 1938.

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Photo of Lieut-Colonel Sir Walter Smiles Lieut-Colonel Sir Walter Smiles , Blackburn

asked the Secretary for Mines whether he is aware that there are several holding companies registered in the United Kingdom which hold the majority of the shares in both colliery and coal distributing companies, and that it is the practice for these colliery companies generally to make losses and the distributing companies very handsome profits; and whether he will make inquiries into the extent of this practice with a view to putting a stop to it?