HC Deb 15 June 1939 vol 348 cc1527-8W
Mr. Alexander

asked the Chancellor of the Exchequer whether he will state the total payments to date, under the Agricultural Credits Act, 1928, made by the Treasury to the Agricultural Mortgage Corporation; what is the total amount of issue expenses for the debentures raised by the corporation through Whitehall Trust, Limited; what is the amount, if any, of these debentures held by the Treasury on Government account; what is the amount of debentures at present held by Whitehall Trust, Limited; and what was the dividend paid on capital in each of the last three years by Whitehall Trust, Limited?

Sir J. Simon

During the years 1928 and 1929 £650,000 was issued from the Consolidated Fund in respect of the guarantee fund of the Agricultural Mortgage Corporation and £62,500 in respect of the cost of underwriting debentures of the corporation. During the 10 years 1929 to 1938, sums amounting to £100,000 in all were issued from the Vote for the Ministry of Agriculture as contributions towards the cost of administration of the corporation. No debentures of the corporation are held by the Treasury.

Whitehall Trust, Limited, are the trustees for the debenture holders. No debentures were issued through them, and I understand that none are held by them. I have no information as to the dividends paid by them.