HC Deb 25 March 1887 vol 312 cc1469-70

asked the Civil Lord of the Admiralty, Whether, in the interest of the seamen of the Royal Navy, the Greenwich Hospital Funds, which were originally in part subscribed by them, or deducted from their pay, will be invested in Government loans of the Colonies of Victoria, New South Wales, Queensland, and New Zealand, paying Four per Cent, instead of the Three per Cent Annuities?

MR. ASHMEAD-BARTLETT (A LORD of the ADMIRALTY) (Sheffield, Ecclesall)

Arrangements have been made already, or are in progress, for the re-investment at home, on favourable terms, of the greater part of the Three per Cent Annuities held on account of Greenwich Hospital; and it is not considered that there will be any difficulty in similarly re-investing so much of the remainder of the Stock as it may be considered advisable to re-invest. The Colonial Stocks of Victoria. Now South Wales, Queensland, and New Zealand mentioned in the Question are at present quoted above par, with the exception of the New Zealand Stock, and at present prices would yield interest of less than 4 per cent on the sum invested.