HC Deb 19 May 1890 vol 344 cc1268-9
MR. DAVID THOMAS (Merthyr Tydvil)

I beg to ask the Chancellor of the Exchequer if he is yet in a position to state the exact amount owing by the Trustees of the late Cardiff Savings Bank to the Commissioners for the reduction of the National Debt, on account of the loss of forfeitures resulting from the omission to enforce signed declarations, and of the large sums invested and drawing interest in excess of the sums the Trustees were entitled to invest?


A Return of the number of savings banks which had failed between 1852 and 1888, and of the loss to the depositors as far as it could be ascertained, was presented in December, 1888. The Return also stated how the deficiencies were met. Since the date of that Return the following savings banks have been closed, or are in process of closing:—Castle Gary, Dorchester, Macclesfield, and Chelsea. In the first two cases, the Trustees undertook to make good any deficiency there might be; the assets of the Macclesfield Savings Bank exceeded the liabilities; and the liquidation of the Chelsea Bank is still proceeding.


I beg to ask Mr. Chancellor of the Exchequer if he can state how many Trustee Savings Banks have failed since 1852 up to the beginning of last year; in how many of the cases of failure the depositors ultimately suffered loss; how the deficiency was met in those cases where the depositors were paid in full; and what is the total amount of loss sustained by depositors, exclusive of those in the late Cardiff Savings Bank, whose ease is still sub judice?


No; the exact amount of the sums has not yet been ascertained, but the matter will not be lost sight of.