§ 36. Sir W. DAVISONasked the Chancellor of the Exchequer whether, in order that British holders of City of Hamburg Sterling Loans issued in London, including the Waterworks Six Per Cent. Loan, may not, under some misapprehension, be induced to part with their investments at prices which have been depreciated under the threat of default, he will request His Majesty's Minister in Berlin to ascertain from the Hamburg authorities whether they will maintain in good faith the terms of the contracts under which the loans were issued in London?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hore-Belisha)I would refer to the reply given to the hon. Members for the Gower Division (Mr. D. Grenfell) and for Eccles (Mr. Potter) on 29th June.
§ Sir W. DAVISONBut this question merely asks whether the Ambassador will ascertain from the Hamburg authorities whether they will maintain the terms on which this loan was granted. Surely it is a very reasonable request that people in this country should have information in that respect?
§ Mr. HORE-BELISHAThe Hamburg sterling loans fall within the general provisions of the transferred moratorium and the responsibility has been taken over by the central executive. Therefore, it would be of no avail to make any representations to the Hamburg authorities.