HC Deb 14 December 1937 vol 330 cc983-4
53. Mr. Bellenger

asked the Financial Secretary to the Treasury how many property investment societies were registered under the Industrial and Provident Societies Acts during the years 1934, 1935, 1936, and 1937; and what is the total amount of share capital of the societies so registered?

Lieut.-Colonel Colville

As the answer involves a number of figures, I will, with the hon. Member's permission, circulate it in the OFFICIAL REPORT.

Following is the answer:

The number of property investment societies registered under the Industrial and Provident Societies Acts during the last four years is as follows:

1934 … … … 4
1935 … … … 22
1936 … … … 36
1937 … … … 31
Total … … … 93

An industrial and provident society is not required, on registration, to state the amount of its nominal capital, as is a company registered under the Companies Act, and for this reason the latest figures available relate to the amount of paid-up share capital at the end of 1936. Of the 62 property societies registered in 1934–36, 58 were on the register at the end of 1936 and their paid-up share capital was then £116,728.

There are nine property societies which were registered before 1934 and which had paid-up share capital amounting to £709,002 at the end of 1936. The total paid-up share capital of the 67 societies on the register at the end of 1936 was, therefore, £825,730.