§ 63. Mr. BILLING
asked the President of the Board of Trade whether the Deutsch Bank acted as a direct or indirect intermediary in effecting an exchange of shares held by British subjects in the German branch of Nobel's Explosives, Limited, for shares held by Germans in 972 Nobel's British branch; and whether such transfer of interests was absolute and permanent?
§ Mr. PRETYMAN
The Deutsche Bank did not act as an intermediary in effecting the exchange of shares made by the Nobel Dynamite Trust Company, Limited. About one-half of 1 per cent. of the shares dealt with by the exchange were held by the London agency of the Deutsche Bank on behalf of German customers and were surrendered in pursuance of the arrangement. The transfer of interests was absolute.