§ MR. WARMINGTON (Monmouth, W.)asked Mr. Attorney General, Whether his attention has been called to the Rule of the Supreme Court, November 1888, providing for the investment of cash under the control of the High Court of Justice, Chancery Division; and, whether such Order, so far as it relates to investment in Indian guaranteed railway shares, is within the powers conferred by the statute 23 and & 24 Vict. c. 38, or whether it is ultra vires?
§ THE ATTORNEY GENERAL (Sit RICHARD WEBSTER) (Isle of Wight)The point put to me by the hon. and learned Member is one which can only be determined by judicial decision, and on which he is more competent than I am to form an opinion. The question is whether Indian guaranteed railway shares are "stocks, funds, or securities" within the meaning of the Act of 1860. I am not prepared to say that the Order of November, 1888, is ultra vires. But if the hon. and learned Member desires further information upon the point, I would refer him to my hon. and learned Friend the Member for North Norfolk (Mr. Cozens-Hardy), who has, I believe, made this subject his special study.