§ MR. MACNEILLTo ask Mr. Chancellor of the Exchequer, if he will state what, on 20th November, 1907, was the total amount due to depositors in the Trustee Savings Banks: what amount of Consols was sold during 1386 the year ended 20th November, 1907, and at what average price; what was the amount of Consols held on account of the trustee Savings Banks on 20th November, 1907, and what is the cost price on balance of the Consols so held; what is the deficiency in the capital account of the Trustee Savings Banks on 20th November, 1907, estimating the assets at the market price of the day; what is the deficiency, if any, in the income account for the year ended 20th November, 1907; and what amount of gold is held as a reserve against the liability to depositors.
(Answered by Mr. Asquith.) The figures showing the total amount due to depositors in the Trustee Savings Banks are not yet available; but it is estimated that the amount is something over £52,000,000. The amount of Consols sold from the Trustee Savings Banks Fund in the year ended 20th November, 1907, was £327,573, at an average price of £85 0s. 3d. per cent. The amount of Consols held on account of the fund at 20th November, 1907, was £17,347,487. The cost price on balance of this stock works out at £94 3s. 6d. per cent. Since the Act of 1904, as has been explained on previous occasions, no valuation of the capital account is published, and the information is not available. The deficiency in the income account of the fund for the year ended 20th November, 1907, amounts to £7,327 19s. 5d. No gold is held as a reserve.