§ DR. MACNAMARA (Camberwell, N.)
I beg to ask the Postmaster-General what, on 31st December, 1904, was the total amount due to depositors in the 318 Post Office Savings Bank; what amount of Consols were sold during the year 1904, and at what average price; what was the amount of Consols held on 31st December, 1904, and at what price was it taken in the valuation of securities; what was the excess (if any) of liabilities over assets on 31st December, 1904.
§ THE POSTMASTER-GENERAL (Lord STANLEY, Lancashire, Westhoughton)
The total amount due to depositors in the Post Office Savings Bank on 31st December, 1904, cannot be stated with accuracy till the figures are finally proved. The approximate amount was £148,326,000. The amount of Consols sold during the year 1904 was £1,664,972. 6s. 2d., at an average price of £87 18s. Id. The amount of Consols held on 31st December, 1904, was £60,085,422. 11s. 8d. No valuation of securities at the end of the year is now required by Parliament; and without such valuation it is not possible to state the excess of liabilities over assets at the 31st December, 1904.