§ Sir P. Hurdasked the Chancellor of the Exchequer (1) whether he will state the reason for the ban which has been put on the sale to Canada of Canadian securities held in this country; and whether this ban is a permanent or a temporary measure;
(2) whether he is aware that Canadian securities have been sold to New York by British holders at much lower prices than those ruling in Canada and resold by New York houses to Canada; and what steps he is taking in the matter?
§ Sir J. SimonUnder the Canadian exchange regulations purchases of securities from non-residents are prohibited except with permission. I understand that permission is not at present being granted by the Canadian authorities for purchases from any non-resident whether in the United Kingdom, in the United States or elsewhere. No action has been taken here beyond informing the Stock Exchange and other inquirers of the position in Canada.