§ On 23rd November, 1914, Sir JOHN ROLLESTON asked the Secretary of State for Foreign Affairs whether the Deutsche Orient Bank of Cairo and Alexandria suspended payment in August; whether, when the bank was established seven years ago, it was understood to be subsidised by the German Government; what were the deposits; whether, before the declaration of war, the funds of the bank were removed to Berlin; and whether the mass of the depositors were native Egyptians?
§ Sir J. ROLLESTON has received the following reply:—
§ "Foreign Office,
§ "January 7th, 1915.
§ "Sir,—With reference to the question asked by you in the House of Commons on November 23rd last, I am directed by Secretary Sir E. Grey to inform you that a dispatch has been received from His Majesty's Chargé d'Affaires at Cairo, reporting that the offices of the Deutsche Orient Bank in Egypt closed their doors for a few days early in August, but reopened them after the proclamation of the moratorium. The Egyptian Government possesses no information to the effect that the Bank is subsidised by the German Government, but they have appointed a Controller, whose principal duty is to safeguard the interests of the depositors in Egypt, a considerable number of whom are native Egyptians, There is no evidence that funds were transferred to Berlin in anticipation of the declaration of War. The assets of the Bank in Egypt, taken at their book value, largely exceed the amount of the deposits, and it is believed that they will realise sufficient to repay the latter in full.—I am, Sir, your most obedient, humble servant,
§ A. LAW."
§ Sir John Rolleston, M.P.