HC Deb 03 March 1887 vol 311 c1088

asked the First Lord of the Treasury, Whether he will take into consideration the question of investing the sum of £1,378,817 19s. of the funds of Greenwich Hospital, now in Three per Cent Annuities, in Australian, New Zealand, or Canadian Government Loans, yielding about 4 per cent, and thus effect a yearly saving of about £13,788 for the benefit of the Greenwich Pensioners?

MR. ASHMEAD-BARTLETT (Sheffield, Ecclesall)

(A LORD of the ADMIRALTY) (who replied) said: After certain re-investments, which are already sanctioned, have been carried out, the amount of Greenwich Hospital Funds standing in Three per Cent Annuities will only be about £945,000. These funds are public trust money; and it is not deemed advisable to transfer the investment to the Colonial loans mentioned in the Question of my hon. Friend,