HC Deb 06 April 1910 vol 16 cc434-5
Mr. ELLIS DAVIES

asked the Prime Minister whether, in all cases of depreciation in the value of securities in which the Public Trustee invests trust moneys, the beneficiaries are entitled to be recouped out of the Consolidated Fund of the United Kingdom?

The HON. MEMBER

also asked whether the Consolidated Fund is liable to make good to the persons entitled thereto any depreciation that may take place in the value of the following investments made or held [Cd. 5087] by the Public Trustee: foreign stocks and bonds £165,297 15s. 4d., railways, foreign, £281,609?

The PRIME MINISTER (Mr. Asquith)

I must refer my hon. Friend to Section 7, Sub-section 1, of the Public Trustee Act, which defines the liability of the Consolidated Fund in regard to the responsibilities of the Public Trustee. The answer to his two questions depend upon the proper construction of that section in reference to the facts of each particular case, a matter on which I have no authority to pronounce any opinion.