Skip to main content

Electric Power Company (Advances)

Volume 103: debated on Thursday 28 February 1918

The text on this page has been created from Hansard archive content, it may contain typographical errors.

67.

asked the Minister of Munitions whether any public money has been advanced to the Shropshire, Worcestershire, and Staffordshire Electric Power Company; if so, how much; is it contemplated to advance any further sums; if so, to what amount; if he is aware that the promoters of this company were originally a German syndicate ;and whether men of German nationality are still on the directorate of the parent company?

Up to the present £120,000 of public money have been advanced to this company. It is anticipated that a further loan, not exceeding £80,000, will be needed to complete the extensions which are required to meet urgent war demands. So far as I am aware there is no truth in the statement that the promoters of this company were originally a German syndicate. I understand that the present directors are all British-born subjects, with the exception of one gentleman who was born in Saxony and became a naturalised British subject in 1881.

Can the hon. Gentleman give any sufficient reason why national funds should be advanced to this company?

Have the powers yet been granted by this House to advance the money and for the extension of this company?

My hon. Friend should understand that this is a loan made to enable this country to produce power which is required for munition works and other urgent war purposes.