3
300
be pfaéfibal to
10. I huggi¬d Afi66 consideration to whether it authorise a split merely of the overseas interests of the company, but I have reached the conclusion that this would not be feasible. The only sound economic or technical line, if a line is to be drawn, is between steelmaking on the one hand and structural engineering (whether for home or abroad) on the other.
·
.
11. The arguments on both sides are nicely balanced and no great harm would accrue to the new Corporation whether the proposed split is approved or not. My own view is primarily influenced by the advantages which I should anticipate in a wider sphere from the public ownership of an important element in the constructional field, and I have therefore a bias in favour of rejection; but I recognise that there are good arguments in favour of approval and I submit the case for the decision of my colleagues.
Ministry of Supply,
Shell Mex House, W.C. 2,
28th September, 1949.
G. R. S.