§ 56. Mr. S. SAMUEL
asked the Chancellor of the Exchequer, in connection with the Municipal Savings Bank Act, 1916, which municipalities have established savings banks under this Act; what are the amounts received by each on deposit; what interest they have paid; and what has been the cost of administration in each case?
The Birmingham Corporation is the only municipality which has established a savings bank under the provisions of the Municipal Savings Banks Act, 1916. From the opening of the Savings Bank on the 29th September, 1916, up to the 31st March last, £520,815 had been received from depositors, of which £327,983 remained on deposit at the latter date. The total amount of interest allowed to depositors to that date was. £13,276, and the total cost of administration £8,545.