THE MARCONI CONTRACT

Dominion, Volume 6, Issue 1708, 27 March 1913, Page 5

THE MARCONI CONTRACT

MINISTER ADMITS THAT HE ACTED . / V UNWISELY. By Telegraph—Press Association—Copyright London, March 25.. ■ Sir li-ufus Isaacs,. Attorney-General, in giving ovidence before the Marconi Inquiry Committee, denied any connection with' the Government's ,Marcoiii'contract negotiations, and said ho hail' had no, dealings with any Marconi company prior to the Marconi contract. His brother subsequently , mentioned,'., purchasing American 'Marconi shares, and witness purchased some • after ascertaining 'that the company' was : not interested in. the English Company.'. The latter had a controlling intercut,- and undertook to guarantee'the American Company's issue of seven million .dollars. . Three of the English directors had seats on the Ameri- ■ can .Company. Before, investment lie ascertained that the English , Company's contract could in noivisß affect tho American Company'. ' It did not "occur to him when attacked, to mention the investment in order to prevent unfounded insinuations, as he expected.. .the .committee to require hi§ evidence. He agreed that in view of the subsequent stories and insinuations his purchase of share 3 in the American Marconi Company was;-unwise.,

; ■ MINISTERIAL ROSSES. (Rec. March 26, 11.10 p.m.) . ( i London, March 26.: Sir Rufus Isaacs; in his evidence, said he had sold 350 shares in. the American Mgrconi Company' at .63 ,6s. 6d., but .still held the balance. If ho" had sold >11 he' would have, cleared, ,£12,500, but instead his loss,amounted to .£1300../ Mr. LloydGeorge and Lord Murray o£ Elibank had lost .€l6O each. .