§ DR. TANNER (Cork Co., Mid)
asked the Under Secretary of State for India, If it is true, in connection with the Bengal-Nagpur Railway, that £3,000,000 are to be raised on the guaranteed interest of 4 per cent in perpetuity by the Indian Government and one-fourth of the profits of the railway; whether the loan was underwritten by Messieurs Rothschild and Company; whether Messieurs Rothschild and Company were paid any commission in connection with floating the loan; what was the amount of remuneration paid to the said firm; and, why was the money raised in this mode?
§ THE UNDER SECRETARY OF STATE (Sir JOHN GORST) (Chatham)
My answer to the first Question is Yes; to the second, No. The Bengal-Nagpur Railway Company was authorized to pay a commission of 1 per cent to Messrs. Rothschild & Co.; and the amount was, 1258 in fact, paid. The money was raised in this mode, because, in the opinion of the Secretary of State in Council, it was the most judicious and economical mode of raising it.
§ DR. TANNER
Might I ask what connection Messrs. Rothschild & Co. have with the Bengal-Nagpur Railway Company?
§ SIR JOHN GORST
I think the hon. Member will have to ask the Question of the Bengal-Nagpur Railway Company.