§ MR. HOWELL (Bethnal Green, N. E.)I beg to ask the Chancellor of the Exchequer whether he is aware that the Trustee Savings Bank at Cambridge is closed for the receipt of deposits; whether it is a fact that the Trustees and Managers have refused to afford through the Post Office Savings Bank Authorities the usual facilities to depositors to transfer their accounts on the spot: whether they have refused to allow the exhibition of the usual Post Office notices on the premises of the bank; whether Messrs. J. Mutlock and Co., bankers, of Cambridge, treasurers of the aforesaid Trustee Savings Bank, are making arrangements for the transfer to their own bank of a large number of the deposit accounts of the said Trustee Bank; and whether the National Debt Commissioners can take any steps to bring to the notice of depositors, who are generally ill-informed as to these matters, the usual facilities and information afforded by the Post Office Savings Bank to depositors, with the view of attracting the deposits of a closed Trustee Savings Bank to the Post Office Savings Bank?
§ *MR. GOSCHENThe answer to the first three questions is, yes. As regards the fourth question, I am informed that statements have appeared in the local papers attributing this action to Messrs. Mutlock and Co. The action of the Trustees has been entirely new and unprecedented; but the National Debt Commissioners have no means of communication with the depositors of a savings bank. They have, however, given the Trustees full information as to the steps to be taken for closing the bank, adding that—
The Trustees will, no doubt, in the interests of the depositors themselves, induce as many of them as possible to accept transfers to one or other class of savings banks.297 that is, Trustee Saving's Hanks. It is a question whether a provision should not be made in the new Bill compelling the Trustees of banks which are closed to inform their depositors of the facilities afforded by the Post Office Savings Banks. ME. HOWELL: To whom do the deposits belong? Do they not belong to the Trustees and not to the Commissioners of the National Debt?
§ *MR. GOSCHENThe Commissioners can only communicate with the managers and Trustees. They have no direct communication with the depositors. I believe that the Trustees are as anxious to increase the legitimate business of these banks as the hon. Member himself.
§ MR. BRUNNER (Cheshire, North-wich)Will the right hon. Gentleman make a formal request to the Trustees to put up the usual announcement in the building?
§ *MR. GOSCHENThat has already been done by the direction of the Commissioners.