§ 48. Mr. CURRIE
asked the Chancellor of the Exchequer if he will state to whom or to what classes of business men or institutions brokerage in respect of public business is recognised as payable by the Bank of England; and whether, in making such payments, the Bank of England acts as agent-disburser for the Government and the taxpayer?
§ Mr. McKENNA
Commission on allotments of stock made in respect of applications for Government issues is only paid by the Bank of England to "bankers, brokers, and financial houses" whose stamp appears on the form of application. The Bank of England deal with all such claims on behalf of the Government.
§ 49. Mr. CURRIE
asked the Chancellor of the Exchequer whether in paying, or engaging to pay, brokerage commissions to Mr. Horatius Stuart, solicitor, Edinburgh, the Bank of England was in any degree influenced by a belief that he was not following actively the legal profession; if so, whether such belief was based upon statements or letters of Mr. Stuart; whether such a misapprehension has existed over a course of years; what commissions have been paid or promised to Mr. Stuart; whether Mr. Stuart has given notice that he does not intend to renew his licence as a law agent in Scotland; whether he is aware that a council meeting of the Society of Solicitors before the Supreme Courts in Scotland considered this matter at a meeting held on the 12th instant; and whether any communication from the society, or its council or president, has now reached him?
§ Mr. McKENNA
In paying and undertaking to pay commission to Mr. Horatius Stuart the Bank of England did so entirely on the strength of Mr. Stuart's written statement, made in February last, that he was entirely engaged in financial business. A sum of £2 10s. was paid to Mr. Stuart for commission in respect of 2007 the 3½ per cent. War Loan. This, so far as I have been able to ascertain, is the only payment which has been paid to him in respect of a Government issue. I have no information as to Mr. Stuart's intention with regard to the renewal of his licence as a law agent, nor as to the meeting of the Society of Solicitors before the Supreme Courts. No communication from the society, or its council or president, regarding Mr. Stuart's position has so far reached me.