ALLEGED CEMENT TRUST

Taranaki Daily News, 3 October 1921, Page 5

ALLEGED CEMENT TRUST

MR. R. MASTERS’ CHARGES. MINISTER PROPOSES AN IMPORTANT STATEMENT “I wish to ask the Minister in charge of the House a question without notice," stated the Leader of the Opposition (Mr. T. M. Wilford, Hutt) in the House of Representatives at question time on Friday afternoon. “I wish to ask him whether it is proposed by the Government to take any steps in regard to the statement made by the hon. member for Stratford (Mr. R. Masters) with reference to the cement question.” The Hon. D. H. Guthrie: “The Minister in charge of the Department of Industries and Commerce is prepared to make a statement on the matter now." The Hon. E. P. Lee: “The hon. member for Stratford, during the debate on the Address-in-Reply, referred to matters connected with the cement industry* and, if I understand aright, asked that there should be an inquiry into the position. I have not the slightest objection to an inquiry, and I propose to ask the Government to set up a tribunal to inquire into the matter; but I desire first to consult with the Prime Minister on his return as to the scope of the inquiry. I also propose, on an early day next week, to make a statement to the House on the subject.” Later, Mr. H. E. Holland (Buller) eaid: “I wish to ask whether, in view of thei very grave nature of the charges made in connection with the cement trust, the Minister will order that immediately a prosecution for conspiracy be instituted against the parties involved, just the same as if they were ordinary citizens and not members of a trust. The Minister will agree that it is not a matter for a committee on commission of inquiry, but a matter for investigation by a criminal court.” The Hon. E. P. Lee: “I must ask the hon. member to put the question on the Order Paper.” (Laughter.) Referring to the cement question, in the courser of the debate on the Address-in-Reply, Mr. D. Jones (Kaiapoi) said that the Government must tackle it. He was not prepared to stand for monopoly in any form. (Hear, hear, and laughter.)

GOLDEN BAY COMPANY. DEBENTURE-HOLDERS DISSATISFIED. It is not only in Parliament that the arrangement that resulted in the closing down of the Golden Bay Cement Company’s works is engaging attention. The debenture-holders, who are by no satisfied with the agreement and its operation, have been concerning themselves in the matter. At the present moment a small committee of the debenture-holders are conducting an investigation which may lead to interesting results. They claim that by the closing down of the works, under the agreement outlined by Mr. Masters in the House, the value of their security has been depreciated by £20,000, and it is probable that proceedings will be instituted to establish their claim in this connection. It is understood that the debenture-holders have retained Mr. M. Myers to represent their interests.— N.Z. Times