§ 70. Mr. JOWETTasked the Chancellor of the Exchequer if he is aware that the Bank of England declines to recognise the trustees of unregistered trades unions for the purpose of investing funds in the War Loan for and on behalf of their unions; whether he is aware that large sums of money are being withheld from investment in the War Loan in consequence of this action on the part of the Bank of England; and whether he proposes to take any action in the matter?
§ Mr. McKENNAIt is the uniform practice of the Bank of England to decline to register stock in the name of trustees as such, as it can take no cognisance of any trust. But it is open to trustees of unregistered trade unions to open stock accounts in the names of the trustees as individuals, or the trustees may apply to the Public Trustee to act for them.