§ MR. G. H. FABER (Boston)
I beg to ask Mr. Chancellor of the Exchequer if he can see his way to impose a transfer fee on all American railway stocks dealt in on the London Stock Exchange on the same scale as now exists on British railway stocks, seeing that, although American railway certificates are in effect warrants to bearer, they escape the duties payable on bearer warrants of 852 English undertakings as imposed by the Companies Act, 1867, and the Stamp Act of 1891.
§ MR. ASQUITH
A stamp duty of 1s. per £1,000 was imposed by Sections 4 and 6 of the Finance Act, 1899, on share certificates of American railways on their first transfer or negotiation in the United Kingdom, and this was considered to be as heavy a duty as the circumstances would allow.