asked the Secretary of State for Industry what was the net worth according to their books of the Court Line Companies taken over by the State; and how this net worth compares with the purchase price.

The shipbuilding, ship repairing and associated interests of Court Line Limited had a net asset value of approximately £14·8 million at the time they were acquired by the Government.

						Date of appointment	Date of termination of appointment
Full-time Members
Sir William Ryland, Chairman				…	…	1st January 1975	31st December 1977
Sir Edward Fennessy, Deputy Chairman					…	10th March 1975	24th July 1977
Mr. M. Elderfield		…	…	…	…	1st April 1975	31st March 1980
Part-time Members
Sir Morien Morgan		…	…	…	…	17th March 1975	16th March 1976
Mr. C. Foster	…	…	…	…	…	17th March 1975	16th March 1976
Mr. J. Read	…	…	…	…	…	1st April 1975	31st March 1976
Lord Pitt	…	…	…	…	…	1st June 1975	31st May 1976

Mr. Whitney Straight, part-time deputy Chairman, retired from the board at the end of his term of appointment on 31st December 1974. Professor Sir James Lighthill resigned from the board on 31st December 1974 while there was still two years of his term of office to run. The demands of his professorial duties was the reason.The Post Office Board is now only one member short of its statutory limit of 12 excluding the Chairman.

asked the Secretary of State for Industry what is his latest estimate of the anticipated trading results for the Post Office during the current year.

I would refer the hon. Member to the reply I gave to the hon. Member for Henley (Mr. Heseltine) on 1st May 1975.—[Vol. 891, c. 222.]