HC Deb 18 June 1917 vol 94 cc1426-7
61. Mr. BUTCHER

asked the Chancellor of the Exchequer what is the present position of the winding up of the Dresdner Bank and the Disconto-Gesellschaft Bank; whether all the liabilities of these banks to English creditors have been paid or provided for, and, if not, what is the present amount of outstanding liabilities in each case; whether the premises of these banks have been sold; and, if not, how soon will they be put up for sale?

Mr. BONAR LAW

The Controller informs me that in the case of the Dresdner Bank the whole of the securities, of an approximate value of £3,200,000, have now been scheduled for vesting purposes and the schedules lodged with the Public Trustee. In the case of the Disconto-Gesellschaft the scheduling of securities, amounting to approximately £6,000,000, is not completed. A large block is already scheduled and lodged with the Public Trustee, and the balance is expected to be finished and lodged about the end of July. The outstanding assets of both banks are still being realised and collected as far as possible. The ascertained liabilities of the London branches of both banks to non-enemy creditors, other than the Bank of England, have been paid, with the exception of a few outstanding amounts, for the payment of which provision has been made. The liability to the Bank of England has been reduced in the case of the Dresdner Bank from £903,000 at 30th September, 1916, to £680,000, and in the case of the Disconto-Gesellschaft from £910,000 at 30th September, 1916, to £510,000. The premises of the banks will be put up for sale by public auction on the 19th inst., subject to the conditions which have been advertised in the Press for some time.

Mr. BUTCHER

Is there a probability that these heavy liabilities, which I understand are still due to the Bank of England, will be discharged within a reasonable time?

Mr. BONAR LAW

I hope so.

Mr. BUTCHER

Will the right hon. Gentleman ask for a report from Sir William Plender?