HC Deb 23 February 1891 vol 350 cc1356-7
MR. HOWELL (Bethnal Green, N.E.)

I beg to ask the Chancellor of the Exchequer whether his attention has been called to an advertisement in the Bridport News of 13th February, in which Major C. Sykes, Treasurer of the Bridport Savings Bank, gives notice that, in consequence of the trustees having decided to close the Bridport Savings Bank, his firm practically touts for the deposits, and announces that the firm Have retained the services of the actuary of the Savings Bank; and whether any security is offered to these depositors in thus transferring their deposits to a private banking firm?


I am advised that the facts are as stated by the hon. Member; but the authorities of the bank have replied to the advertisement by issuing the following notice to their depositors:— In view of circulars and advertisements recently issued, the trustees and managers beg to announce that it is their desire that depositors should exercise their own sole discretion as to the disposal of their money after receiving it, the trustees and managers being desirous of not influencing the depositors in any way. As regards the last paragraph of the hon. Member's question, no security such as the Post Office Savings Banks afford can be afforded by any private bank.

MR. J. E. ELLIS (Nottingham, Rushcliffe)

Has notice been sent to each depositor?


I believe that a notice to the depositors has been prepared, but I am not aware that it has been sent to each.