§ Mr. CLYNES
asked the President of the Board of Trade, whether his attention has been drawn to the misrepresentation alleged against the Premier Industrial Bank, Manchester, now in liquidation, by persons who were induced by the announcements of profits, since shown to be unreal, to take shares in the bank and transfer their deposit accounts to it; whether he is aware that distraint proceedings are being taken against several shareholders, contrary to the liquidators' promise to accept shareholders' instalments 2454 according to means; and whether he will state what action he proposes to take in this matter?
The Premier Industrial Bank, Limited, is in voluntary liquidation, subject to the supervision of the Court. Last October an application was made to the Board of Trade by certain shareholders and depositors for an inquiry into the affairs of the company, but I am advised that the Board of Trade have no power to cause an investigation into the affairs of a company in voluntary liquidation. My attention has not been drawn to the matters referred to in the hon. Member's question, and they are not such as would give the Board of Trade jurisdiction to take any action.