§ MR. MELDONasked the Secretary to the Treasury, Whether the Lord Lieutenant, in fixing the amount of paid-up capital upon which a Grand Jury guarantee will be given, will estimate the amount necessary for the construction of the line on the basis of the shares in the Company being placed at par, or if an increased capital will be allowed, in order to enable the shares to be placed at a discount by reason of the Grand Jury guarantee being given at a rate lower than would be accepted if the capital was placed at par; and, if not, whether an intimation to this effect will be given to the Grand Juries before they decide on the guarantee to be given?
§ MR. COURTNEYThe Irish Government and Treasury have agreed that the paid-up capital on which the Imperial 1605 subsidiary guarantee is given under the Tramways Act should represent the actual cost of construction and equipment only. I think this decision gives the assurance which the hon. and learned Member desires.