Unclaimed Dividends

In English bankruptcy practice, dividends remaining unclaimed for five years are forfeited to the government (Bankruptcy Act 1869, § 116), but may, upon satisfactory proof of right thereto, be paid over to the creditors entitled (38 & 39 Vict. c. 77, § 32). And in chancery, the lord chancellor may, under St. 16 & 17 Vict. c. 98, § 3, order dividends unclaimed for fifteen years to be carried to "the suitors' unclaimed dividend account;" and these, under 32 & 33 Vict. _c. 91, are transferred to the public on their indemnity. Dividends not being claimed for ten years on stock in the Bank of England, the stock is forthwith transferred to the government on the like indemnity. Brown.