§ CAPTAIN PRICE (Devonport)
asked the First Lord of the Admiralty, What will be the net annual loss to the Funds of Greenwich Hospital consequent on the conversion of its Three per Cent Stock; and, whether he will press on the re-investment of the Converted Stock in securities giving a higher rate of interest, so as to compensate for such loss?
§ THE FIRST LORD (Lord GEORGE HAMILTON) (Middlesex, Ealing)
The net annual loss to Greenwich Hospital Funds in consequence of the Conversion of the Three per Cent Stock will be about £1,950. Steps will be taken to re-invest at a higher rate of interest a certain portion of the Stock of the Hospital so converted.