HC Deb 05 September 1940 vol 365 c11
17. Sir I. Albery

asked 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. Albery

May 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. Wood

I will look into that.