§ MR. QUILTER (Suffolk, Sudbury)I beg to ask the Chancellor of the Exchequer whether he can state when the Report of the Commissioner appointed to inquire into the affairs of the Sudbury Trustee Savings Bank and the defalcations of the late actuary may be expected; whether the appointment in any way affects the distribution of the funds of the bank invested with the Commissioners for the Reduction of the National Debt; and if he can say with whom the control of such funds now rests?
§ THE CHANCELLOR OF THE EXCHEQUER (Sir W. HARCOURT, Derby)I understand that the Commissioner has opened his Inquiry and held two meetings; that the Inquiry has been adjourned until the 18th instant to allow of an examination of accounts; and that, when the Inquiry is resumed, it will be proceeded with as rapidly as possible. It must depend on the Report of the Commissioner under what conditions the distribution of the funds of the bank will be made—whether by process of liquidation or otherwise. Unless and until the Savings Bank is put into liquidation the control of its funds rests with the Trustees.
§ MR. BARTLEY (Islington, N.)I beg to ask the Chancellor of the Exchequer whether he is aware that in the Report of the proceedings of the Inspection Committee of Trustee Savings 637 Banks, issued this year, it is stated on page 8 that all Savings Banks would be reported on by 20th November last; whether there has been any Report on the Sudbury Bank; and whether any banks still remain that have not been reported on since the Committee was formed in 1891?
§ SIR W. HARCOURTYes, there is such a statement in the Report referred to. I have already stated that a Report of the defalcations in the Sudbury Bank was made by the Inspector to the Committee on October 24. I answered all these questions in full on November 23 and December 4.