§ MR. J. E. ELLIS (Nottingham, Rushcliffe)I beg to ask the Postmaster General to what extent advantage has been taken of "The Savings Bank Act, 1893," which increased the limits of investments in Post Office Savings Banks?
§ THE POSTMASTER GENERAL (Mr. A. MORLEY, Nottingham, E.)I am glad to state that considerable advantage has been taken by Post Office Savings Bank depositors of the new Savings Bank Act which came into operation on the 21st December last. It appears that, in little more than two months, 29,400 depositors availed them- 559 selves of the extension of the annual limit for Savings Bank deposits, representing an aggregate additional sum of £423,639. Nine thousand six hundred and twelve of these persons deposited £50 each in lump sums. During the first two mouths of the present year, £5,878,173 was deposited, a sum which exceeded by no less than £1,017,840 the amount during the first two months of 1893. As regards Government Stock, investments in excess of the old annual limit were made during the first two months by 1,500 persons, the excess amounting to £67,904 Stock. Four hundred and forty-eight of these investments were of £200 each. In the same period 424 persons made investments in excess of the former total limit of £300, the excess amounting to £32,147 Stock. Twenty-nine persons increased their total holding to £500.