HC Deb 04 May 1920 vol 128 cc1892-3
57. Viscount CURZON

asked the Chancellor of the Exchequer what is the total amount of the Prize Fund to date; what deduction should be made from this sum for the purpose of the Naval Prize Fund; whether any other deductions or payments have been made from this fund, and, if so, to what amount; and how will the remainder of the fund be allocated?


The proceeds of prize are carried to the Supreme Court Prize, etc., Deposit Account (which is not concerned with Colonial Prize Courts) pending their final allocation between the Exchequer and the Naval Prize Fund, which is dependent on the circumstances of capture in each case. The amount standing to the credit of the Deposit Account on 31st March, 1920, was £9,210,155 17s. 6d. £2,083,103 18s. 3d. has already been paid over to the Naval Prize Fund; how much more is due to it cannot be said at the present moment, as all the cases have not yet been brought before the Prize Court, and there are a number of cases which have not been brought before the tribunal established under the Naval Prize Act, 1918. The nature of the payments made from the gross receipts of the Supreme Court Prize, etc., Deposit Account, the total amount of which payments to 31st March, 1920, is £6,407,392 6s. 5d., is shown in House of Commons Return No. 48 of 1920, to which I would again refer my hon. and gallant Friend. All sums not found due to the Naval Prize Fund will be paid into the Exchequer.