INSURANCE BUSINESS

Poverty Bay Herald, Volume LXIII, Issue 19031, 3 June 1936, Page 6

INSURANCE BUSINESS

SUSPICIONS AT LLOYDS OlMtil.Y OF INQUIRY CHANCELLOR NOTIFIED (British Official Wireless.) l ji.ni. IMIUBY, .lime 2. The report of I lie Bmlgcl leakage ll i bunal is addressed In I lie Home. Secretary ami is signet! liy three members of the tribunal. Sir Samuel Porter, Mr. Gavin Sinioiid ami Mr. Roland Oliver. Tim report/ recalls that the quest ion of l lie hyikago of the budget, secret, s was brought, to the notice, of the Chancellor of the Exchequer by information derived from Lloyd’s regarding tin; undue amount of insurance against Budget risks.. The preliminary inquiries showed that the important business emanated from three groups. To the case of insurances effected in the name of W. .1. 0. Atkinson, the tribunal unhesitatingly accepts the evidence they were not prompted by improper in formalion.

The report, which is ;i document of over 8000 words, reviews in detail the evidence the tribunal received regarding the transactions of Mr. Alfred Bates and Sir Alfred Butt. i'N AITJTIORISEI) DISCLOSURE The tribunal’s conclusions, having regard to the evidence and the demeanour of the witnesses is that- there was an unauthorised disclosure of information relating to the Budget for the present- year by Air. J. 11. Thomas, the then Colonial Secretary, to Air. Bates and to Sir Alfred I Suit- and that use was made of this information for the purpose of his private gain by Air. Bates- and bv Sir Alfred Butt. The report refers to Hie evidence ordered by tire Cabinet' and Treasury officials arid continues : -‘We unhesitatingly accept their evidence as regards themselves and their subordinates and those engaged in the Civil Service generally, including the printers. We find no shred of evidence to suggest that any of these persons were ever in communication with any of those who effected theinsurances. ’ The tribunal adds that the same observations apply to all the Cabinet Ministers save Air. Thomas, and (o all those persons to whom information as to the. Budget was supplied before its publication to the House of Commons. •‘We think it right and in the. public interest that our view in this respect should be openly and plainly affirmed,” adds, the report, which also records, the unanimous opinion of the. tribunal that Mr. Leslie. Thomas neither knew nor suspected that Air. Bates, for whom he placed certain insurances, had any improper information of Budget secrets.