HC Deb 26 October 1916 vol 86 cc1313-4
134. Mr. BUTCHER

asked who are the partners in Horstman's Bank, and in what shares; whether such partners are naturalised in this country or otherwise; and whether the business of such bank is being carried on under licence?


Permission for the continuance of this banking business in the United Kingdom was given by the Secretary of State in December, 1914. The Board of Trade subsequently caused inspection to be made of the business of Horstman and Co., and ascertained that the partners are all British subjects, two being naturalised and one British by birth.£50,000 is held on loan from two German subjects (interest on which is paid to the Public Trustee) and£25,000 from a British subject. Subject to this the whole of the capital is the property of one of the naturalised partners, British by birth but the widow of a German who had become naturalised in this country; her daughters hold by deed of gift from her the loan capital referred to. In the circumstances it does not appear that a licence under the Aliens Restriction (Consolidation) Order is required.