HC Deb 30 May 1940 vol 361 cc658-9
84. Captain Shaw

asked the Chancellor of the Exchequer why the firm of J. Henry Schroder and Company are still amongst those firms authorised to sign Form B giving permission to transfer bearer securities under the Order, dated 13th May, 1940, of the Trading with the Enemy Act, 1939, Defence (Finance) Regulations, 1939; and whether, in view of the fact that the senior partner of this firm is a naturalised German, and that another partner was associated with the recent appeal for funds for German prisoners, he will either withdraw the authority or use his powers to place some British chartered accountants in control of this firm to investigate past and present dealings?

Sir K. Wood

This firm has been established here as merchant bankers for over 100 years and enjoys the highest credit. The senior partner was naturalised 25 years ago, and as I have already informed my hon. Friend, whilst I regard the association of one of the partners with the appeal he refers to as unnecessary and undesirable, I see no reason to take the course of action which he suggests.

Captain Shaw

Is my right hon. Friend aware that this firm fills up these forms and signs them, and does he not think it would be better if the whole of this work were handed over to the Public Trustee?

Sir K. Wood

No, Sir, I have confidence that this firm is carrying out its duties quite properly.