HC Deb 13 July 1932 vol 268 cc1284-5
46. Mr. MASON

asked the Chancellor of the Exchequer whether he is now in a position to state the progress which has been made in the applications for conversion of the 5 per cent. War Loan?

43. Mr. STOURTON

asked the Chancellor of the Exchequer the total amount of assented 5 per cent. War Loan and the number of holders this figure represents?

Major ELLIOT

As I have already stated, my right hon. Friend is entirely satisfied with the progress of the scheme to date. The flow of continuance applications continues with undiminished strength, over 100,000 having been received by the Bank of England and the Post Office yesterday morning, a considerable increase on the previous average daily intake, and in the case of forms sent to the Bank of England the largest on any single day, since the offer was announced. The total number of continuance applications already received is nearly one-third of the whole number of holdings on the books.

Mr. D. MASON

While congratulating the right hon. and gallant Gentleman, may I ask him, in view of the adjournment of the House, whether he will take steps to see that an official statement is issued from time to time, either frown the Treasury or from the Bank of England, as to the continued progress of this admirable conversion scheme?

Major ELLIOT

Yes, Sir; we shall take steps to keep the public informed of the progress of the scheme.

Mr. MAXTON

Will precise figures be given, instead of the general statements that have been made by the right hon. and gallant Gentleman and by the Chancellor of the Exchequer in the last few days?

Major ELLIOT

Of course, when it is possible to give precise figures, precise figures will be given. In the initial stages of the scheme, of course, it is impossible to give figures which, by reason of the time lag, would not be out of date by the time that they were communicated to the House.

Mr. GURNEY BRAITHWAITE

May I ask my right hon. and gallant Friend, before the House adjourns, whether lie is in a position to confirm the statement which appeared in some sections of the Press this week that over £1,000,000,000, or half the total amount, has already been converted?

Major ELLIOT

I prefer to make no pronouncement as to actual amounts until I can do so with the full weight of the official examination behind me.

49. Mr. T. WILLIAMS

asked the Chancellor of the Exchequer whether trustees arranging for the conversion of War Loan will receive the premium of 5s. per £100 converted, in addition to bankers and stockbrokers?

Major ELLIOT

No, Sir.