BRITISH DYESTUFFS

Nelson Evening Mail, Volume LXI, 7 April 1926, Page 3

BRITISH DYESTUFFS

-—■■■— .... s<tSVi LOSSES OE C.IOVKRNM EX'l

JUDGE'S SCATHING COMMENT LONDON. March 23 Mr Justice Eve, in sanctioning Uto rodnciio-n in the capital of file I’ritish Dyestuffs Corporation hv £4.421.000. of which £2.814.000 would lie written off an Inst, scathingly commented on, the fact thill departmental control of the (oni-er;i had cost the country £1.000.000. "Tli.-il is another penny on the income tax." said His Lordship. ‘lt is your money aid mine .hut nohcdy seems to care iinlil the suffering is brought home. I his ciise is not unique. V,Ve repeatedly iiivi-si the country's mn.irv in rotten •mJirtaUings.". .Ashed how Clover mil s/:1 control had acted so injuriously, coe.nsel replied that it w.i iinpor.-uhle to ~-iake crx-edy tic ciiipii.' o'.virig to tlio necessity of retelling to tin- Hoard of Trade. Although the Oovi-i-nmenl directors had retired, there was. an understanding that. the 11 •)ii| j: 11 \ wiiid.l remain predominantly Rritiaii and keen in touch with the llnv-ei/iim-i'! it-;, aiding discoveries and re sf.iriii, and also there. Would he re strict ions on Die transfer of shares. Mr Jin-tire Eve (ironically). For the purpose ul excluding those knowing mc.-t -ihraii tlye-. Perhaps it is. Anyway. 1 am glad the country is out. of the whole business.