HC Deb 23 February 1891 vol 350 c1361

I beg to ask the President of the Board of Trade whether his attention has been called to the failure in February, 1889, of the "Bethnal Green Bank," in which the deposits amounted to a total of or about £10,000; whether he has been informed that the effects of the bankrupt, Mr. T. F. Braybrook, and the estate of the "Bank" realised the sum of £4000; whether any portion of these assets have been distributed to the depositors, if so, how much; and, if not, will he explain for what reason; and whether he can inform the House what the total costs of the bankruptcy proceedings have been, and what amount is left for the depositors?


I am informed that up to 2nd February, 1891, the estate referred to by the hon. Member realised the sum of £4,991 3s. 7d.; that a dividend of 2s. 6d. in the £1 had been paid to the creditors, £1,674 6s. 7d. being distributed; and that the costs amounted to £2,911 19s. 9d., the principal items being: law costs, £1,741 9s. 10d.; trustees' remuneration, £528 6s. 1d.; auctioneer, £426 14s. 3d. The balance in hand is £235, and the outstanding assets are valued at £250. The receiving order was made on 11th February, 1889. Since 5th March, 1889, the estate has been administered by a non-official trustee and committee of creditors. The functions of the Board of Trade where a non-official trustee is appointed are limited to the audit of his accounts, and they have no control over the expenditure.