HC Deb 15 May 1888 vol 326 cc315-6
MR. HOWELL (Bethnal Green, N.E.)

asked Mr. Chancellor of the Exchequer, Whether it is true that one of the auditors of the Sevenoaks Trustee Savings Bank is also auditor of 11 other Trustee Banks, and the actuary of a London Trustee Savings Bank; and, whether, having regard to the fact that the defalcations at the Sevenoaks Bank were carried on over a series of years, the Government will institute au inquiry into the circumstances connected with the defalcations at such bank, under the provisions of the Trustee Banks Act of last Session?


I understand that the firm of accountants who are auditors to the Sevenoaks Bank act in the same capacity for 14 other Trustee Savings Banks, and that a member of the firm is also actuary of a London Trustee Savings Bank. I am informed that the Trustees of the Sevenoaks Bank are still investigating their accounts, and will shortly submit a full Report on the subject. They are also, I am told, taking steps to enforce the bond for £600 given by the late actuary's sureties, to realize his estate, and to institute criminal proceedings. As soon as the Treasury receive the Report of the National Debt Commissioners on the case they will be able to determine whether there is good ground for an inquiry under the Act of last Session.