TRADES UNION CONGRESS.
To Mr. Tewson.
Department: Research & Economic
Date: 1st February, 1940.
LETTER FROM THE I.F.T.U. RELATING TO SHARES HELD IN THE LONDON & RHODESIAN MINING CO. BY COL. QUIROS.
According to the copy of the letter dated 8th December, 1939 addressed to Colonel de Quiros from the London & Rhodesian Mining and Land Company, that undertaking on 13th October, sent to the Overseas Bank a current certificate representing £50 worth of Rhodesian Mining Company stock being the property of Colonel de Quiros as proved by the certificate.
Having established ownership of the stock Col. de Quiros on 16th December wrote to the Overseas Bank asking them for advice on how to proceed with the sale of the stock but there is nothing in the correspondence we have received on the matter to show that the Bank even acknowledged the letter. In Mr. Schevenels' letter, however, mention is made of difficulties in disposing of the stock. Since we do not know what these difficulties are it is not easy to suggest what action we can take in the matter. We could ask the I.F.T.U. if they have any knowledge of the difficulties in disposing of the stock or alternatively we could approach the London and Rhodesian Mining Co. and the Overseas Bank.
There does not appear to be anything in the Defence Regulations to prevent the sale of the stock unless the principal or dividends are payable in certain foreign currencies, and this is unlikely. If the stock is sold, however, permission will have to be obtained to transfer the proceeds abroad.
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