§ 65. Mr. RHYS DAVIESasked the Chancellor of the Exchequer if he can state the number of the present holders of Five per cent. War Loan Stock whose addresses are unknown and to whom therefore interest is not being paid; what is the amount of the stock held by them; and what will become of this unclaimed money?
§ Major ELLIOTThe number of warrants for payment of the dividend on Five per cent. War Stock due on 1st December, 1931, that are retained to-day is 2,316, representing approximately £500,000 of stock. It would not be possible, without a disproportionate expenditure of time and labour, to say what fraction of this stock is likely to remain permanently unclaimed. As regards the last part of the question, the provisions of the law are shortly as follows: Dividends on Government Stock which are unclaimed for more than five years are transferred to the National Debt Commissioners, and if no claim is received for 10 years the stock itself is so transferred. Every effort is made to trace the holders 541 and the stock and dividends are retransferred to them on proof of claim. The actual transfers to the National Debt Commissioners in connection with Five per cent. War Loan average less than £4,000 annually for dividends and £2,000 annually for stock.