§ MR. M'LAREN (Leicestershire, Bosworth)
I beg to ask Mr. Chancellor of the Exchequer whether applicants for the Consol Loan under £10,000 only received 5 per cent. of the amount applied for; will he state on what principle the allotments have been made; and what proportion of the loan was reserved for the United States before being offered publicly for subscription in London; and why ordinary British investors applying for moderate amounts have been to such an extent deprived of the opportunity of contributing to the financial needs of their own country.
§ * SIR M. HICKS BEACH
The allotment was pro rata throughout, except that nobody got less than £100. The amount taken firm by American houses was £5,000,000. The arrangements made were the same as last year. I feel sure that the knowledge that a large portion of the loan had been taken by the leading; financial houses and banks here and elsewhere had no little effect in inducing the great number of applications.