§ MR. HOWELL (Bethnal Green, N.E.)asked the Postmaster General whether Trade Societies and Branches of Trade Societies have been permitted, subject to the approval of the Secretary to the General Post Office, to invest their funds in the Post Office Savings Banks, without restriction as to amount, for a period of a quarter of a century; whether recently some societies or branches of societies have been refused so to invest their funds; and, if so, by what authority, and for what reasons; whether some such societies, being obliged by their rules to keep separate accounts, such as those for sick and other benefit purposes and those for trade purposes, are forbidden to keep separate accounts for such separate fund; whether the recent regulations as to the signatures of trustees are disregarded as regards withdrawal of amounts and otherwise; and whether, in view of the absence of statutory regulations, the Government will propose such legislation as will prevent misconception and 130 annoyance to the lawfully constituted bodies herein referred to?
§ *THE POSTMASTER GENERAL (Mr. RAIKES,) University of CambridgeThe facts as stated in the first and second paragraphs of the hon. Member's question are, as I pointed out to him in my reply of the 28th ult., substantially correct. I am still in communication with the National Debt Commissioners on the subject, and I confidently hope that all difficulties will shortly be surmounted. With regard to the third paragraph, I would state that the Savings Bank regulations do not permit any person or society to have more than one account, although, for my part, I can see no reason why this rule should not be relaxed in the case of such societies as those referred to, seeing that they can place their funds on deposit without limit as to amount. Indeed, I was anxious when the regulations of 1888 were under consideration to make such exemption. With regard to paragraphs four and five, I would refer the hon. Member to the latter part of the reply to a question asked by him on the 26th ult. I am not prepared at the moment to state whether fresh legislation will be required; but the hon. Member may rest assured that I shall spare no pains to prevent misconception and annoyance to the large body of depositors whose interests he advocates.