MARCONI SHARES.

Dominion, Volume 7, Issue 1988, 19 February 1914, Page 5

MARCONI SHARES.

LORD MURRAY'S STATEMENT. ERROR OP JUDGMENT. By Telecrepli—Press Associations-Copyright London, February 17. In the House of Lords, Lord 'Murray of Elibank, after declaring that all his Marconi share transactions had already been disclosed, admitted he had made an error of judgment in purchasing American Marconi shares on his- own account through a company not interested iii the Post- Office contracts. Tho purchase for the Liberal party was also an error of judgment, though ho regarded it as a pure investment. His colleagues had not been aware of the purchase. He had not informed Mr. Percy lllingworth, his successor as Chief Liberal 'Whip, because, owing to the scandal, ho preferred to bear the responsibility himself. He admitted that his actions were unwise, and expressed regret. Lord Ampthill's motion, for the setting up of a Select Committeo of Inquiry" in connection with the transactions, wis postponed, an Lord Laiisdowne's suggestion, "NO ELEMENT OF DISHONOUR IN THE TRANSACTIONS.'' (Rec.' February 18, 9.5 p.m.) London, February 18. . The House of Lords was crowd"! to listen to Lord Murray's explanation. His elaborate apology was also his maiden speech in the House of Lords. He admitted that both purchases of Marconi shares were errors of judgment, hut ho insisted that neither caqtajoed any element- of dishonour'. One of the Liberal party's solicitors was the only person acquainted With the transaction, and nobody elso .would have known 'anything of the transaction, but for tho failure of a stockbroker. Lord Murray resigned the Whipship in February, 1912, before he had ever heard of Marconi shares, but ho yielded to Mr. Asquith's desire and retained office till tho end of the session. Lord LansdijWite admitted Lord Murray's frankness. It would he unwise* thought Lord L&.usdowiie, to pronounce hasty judgment, and he urged that the House should act in a jvidiein,! spirit . Upon luearing this Lord Ampthill postponed his motion. -Lord Lansd.oivno subsequently con* veiled a meeting of Unionist Peers to consider tile question of a Committee of Inquiry.