§ Mr. Sextonasked the Financial Secretary to the Treasury the average value for the past five years of unclaimed dividends shown in the National Debt Commissioners' accounts; and the average value for the same period of the capital from which those unclaimed dividends accrued?
§ The Financial Secretary to the Treasury (Captain Crookshank)I should first point out that dividends are transferred to the National Debt Commissioners when they have been unclaimed for five years, while the stock on which dividends have not been claimed is not so transferred until the expiration of 10 years. The average yearly amount received by the Commissioners over the last five years by way of unclaimed dividends on stock not yet transferred to them was £3,054, the average value of the stock in question being estimated at 1116 approximately £100,000. The average amount received by way of dividends on transferred stock was £28,470, the average amount of such stock being £1,212,240.
§ Mr. SilvermanIs there any period of limitation beyond which the original owner of the dividends or stock, would not have his claim heard?
§ Captain CrookshankI would like notice of that question.
§ 52. Mr. Sextonasked the Financial Secretary to the Treasury whether the capital producing dividends which are unclaimed and in the hands of the National Debt Commissioners is cancelled after a period of years; whether such cancelled capital goes to reduce the National Debt; and what is the total amount of such cancellation in the last five years?
§ Captain CrookshankThe answer to the first part of the question is in the negative. The second and third parts of the question accordingly do not arise.