ST. Kitts (London) Sugar Factory.

Oral Answers to Questions — West Indies – in the House of Commons on 4th March 1942.

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Dr. Morgan:

asked the Under-Secretary of State for the Colonies whether he is aware that the dividend paid by the St. Kitts (London) Sugar Factory for the past two years was at the rate of 600 per cent. on the real capital; that in 1924–25 it was 1,100 per cent.; that, except in the years 1930–31, it has never been less than 400 per cent.; and whether he will take steps to put a stop to such financial exploitation?

Photo of Mr Harold Macmillan Mr Harold Macmillan , Stockton-on-Tees

My hon. Friend's Question is based on assumption as to the real capital value of this company which my Noble Friend is unable to accept. As regards the profits earned by the company, I have nothing to add to the answer given to my hon. Friend on 15th October.

Dr. Morgan:

Cannot this thieving by black-marketing city financiers be stopped or the matter submitted to arbitration? May I have an answer?