§ COLONEL HOWARD VINCENT (Sheffield, Central)
I beg to ask the Chancellor of the Exchequer if the Treasury is in possession of any information which would give some idea as to the investments in ground rents or other land values of Friendly and Benefit Societies, Savings Banks, and other organisations, whereof the financial resources represent in the main the accumulated capital of the industrial classes?
§ *THE CHANCELLOR OF THE EXCHEQUER (Mr. GOSCHEN,) St. George's, Hanover Square
No information is available which would enable me to give anything approaching a complete reply to the question. It is estimated that the registered Friendly Societies, excluding Collecting Societies, have invested more than a million in land, offices, and buildings, and about £5,380,000 in mortgages and other real securities. The investments, other than in trade, of the ordinary Co-operative Societies, are about £5,800,000, and of this a considerable proportion is invested in land and buildings. No doubt other Societies and Companies whose incomes are derived from the contributions of the industrial classes have considerable investments in real property, but I have no information as to the amount.