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Bank Amalgamations

Volume 103: debated on Thursday 28 February 1918

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55

asked the Chancellor of the Exchequer whether the proposed Committee to inquire into the question of bank amalgamations has yet been appointed; and whether, pending the Committee's report, the Treasury propose to approve the amalgamation between the London City and Midland Bank and the London Joint Stock Bank?

The Committee will be appointed as soon as I have received replies from all those whom I have asked to serve. Meantime I am pleased to state that Lord Colwyn has consented to act as chairman. In reply to the last part of the question, I do not feel that I should be justified in giving my approval to the amalgamation before receiving the report of the Committee, which should be within a comparatively short period.