American Viscose Corporation.

Oral Answers to Questions — National Finance. – in the House of Commons on 17th July 1941.

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Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

asked the Chancellor of the Exchequer to which group or groups of investment bankers in the United States of America His Majesty's Government sold 95 per cent of the Courtauld holding in the American Viscose Corporation?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

As the reply contains a list of the names of 17 firms, I am having it circulated in the OFFICIAL REPORT.

Following is the list of firms purchasing shares in American Viscose Corporation from His Majesty's Treasury:

  • Morgan Stanley and Company Incorporated.
  • Dillon Read and Company.
  • Blyth and Company Incorporated.
  • Clark, Dodge and Company.
  • Dominick and Dominick.
  • The First Boston Corporation.
  • Goldman, Sachs and Company.
  • Harriman Ripley and Company Incorporated.
  • Hemphill, Noyes and Company.
  • Kidder, Peabody and Company.
  • Kuhn, Loeb and Company.
  • Lehman Brothers.
  • Mellon Securities Corporation.
  • Shields and Company.
  • Smith, Barney and Company.
  • Union Securities Corporation.
  • White, Weld and Company.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

asked the Chancellor of the Exchequer whether he will give the names and occupations of those who counselled him in the sale of the American Viscose Corporation?

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

Should I be wrong in suggesting that possibly it was Sir Edward Peacock who advised the Chancellor?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

No, the hon. Member must not put too much faith in his own accuracy in the matter.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

Does the right hon. Gentleman pay any regard to what is stated in reputable American newspapers as to what has been going on?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I give due weight to all these matters, including representations made to me by the hon. Member.