OIL SHARES

New Zealand Times, Volume LI, Issue 11734, 23 January 1924, Page 8

OIL SHARES

GOVERNMENT’S HOLDINGS. WILL NOT TAKE FINAL DECISION. Reuter’s Telegram. (Reoeived January 23, 12.60 p.m) LONDON, January 22. ■Replying to further questions in the House Mr Neville Chamberlain, Chancellor of the Exchequer, said that the Anglo-Persian board had not been officially consulted. The Government did not feel able to make the final decision, as it had intended to refer the matter to a Cabinet committee prior to decision. Two Government directors of the Anglo-Persian company had been consulted, but he was unable, in the public interest, to disclose exactly what their advice was because the question was not decided, and might be decided by some Government in the future which would desire to have the information given them. _ Asked who conducted the negotiations on behalf of the Government Mr Chamberlain said that the proposals had originally been submittedto the President of the Board of Trade (Sir Phillip Lloyd-Greame). He himself, the First Lord of uhe Admiralty, and the Secretary for War were also consulted. In reply to a question in the House of Commons a few days ago as to whether anything had been done with a view to ihe sale of the Government holding of the Anglo-Persian Oil Corporation shares, Mr Neville Chamber - lain said that 18 months ago a proposal to sell the shares was rejected on the recommendation of the Cabinet committee. Recently further proposals by various oil interests had been submitted, but the Government had not. had time to reach a final decision. It intended to refer the matter to the Cabinet Committee.