MINISTERS' SHARE TRANSACTIONS.

Colonist, Volume LV, Issue 13754, 20 June 1913, Page 5

MINISTERS' SHARE TRANSACTIONS.

UNIONIST CENSURE AMENDMENT

STATEMENTS BY THE MINISTERS.

ADMISSION OF ERROR.

(Received Juno 19, 5.5 p.m.)

London, Juno 18

Tho House of Commons was crowded when tho Unionist amendment censuring the Ministers concorned in purchases of American Marconi shares was discussed.

Mr George Cave, Unionist member for Kingston, Surrey, gave a quiet, judicial analysis of the Marconi transactions. He said ho moved the amendment witk reluctance, but it" was necessary for tho Opposition, to state their view. There was no trace of personal corruption, but Sir Ilufus Isaacs at ono time mado a profit of £5000, and other Ministers £2200, out of Mr Godfrey Isaacs' confidential information. Their reticence and .concealment in October was unfair to the House. Mr Helmsloy seconded the amendment. Sir Rufus Isaacs and Mr Lloyd George followed, and were greeted with sympathetic Ministerial cheers. They left tho House after making their explanations, in accordance with precedent.

Sir Rufus Isaacs admitted that his action in the October debate was mistaken, but he believed the American transactions had no direct relevancy, and his mind was full of the indignity of the charges of corruption. Mr Godfrey Isaacs' offer of shares was only actuated by fraternal motives. He now sincerely felt that it was a mistake for him to purchase the shares, and any blame rested with himself, and not with the Chancellor of the Exchequer.

Mr Lloyd George said it would have been infinitely better if the whole of the facts had been placed before tho Houso in October, but he and Sir Rufus Isaacs decided that it was better to give the whole of the facts to tho Committoe. He was deeply grieved if the Houso thought ho was lacking in frankness. He now saw that the purchasos of shares lent themselves to misconstruction and misconception.