§ 17. Sir I. Alberyasked the Chancellor of the Exchequer whether, when negotiating the sale of dollar securities, the Treasury are guided solely by the nominal market quotation for a limited number of shares, or whether they seek advice as to the real value attaching to the assets concerned?
§ The Chancellor of the Exchequer (Sir Kingsley Wood)The actual selling of securities is handled by a representative in New York of the Treasury, who keeps in the closest possible touch with the market and with expert opinion and is, therefore, in a position to advise the Treasury on all questions regarding the selling of securities.
§ Sir I. AlberyMay I ask whether in all cases a person who has given up dollar securities will receive in payment approximately the same sum as has been received by the Treasury on account of their sale?
§ Sir K. WoodI will look into that.