HC Deb 23 February 1888 vol 322 cc1230-1

asked the Civil Lord of the Admiralty, the amount of Greenwich Hospital Funds invested in the Government Three per Cent Securities or Annuities on the 1st of January in each of the five years 1884 to 1888 inclusive; and, whether steps will be taken to obtain a higher rate of interest for the benefit of the Greenwich Hospital Pensioners, by a more advantageous investment of these Funds?

THE CIVIL LORD (Mr. ASHMEAD-BARTLETT) (Sheffield, Ecclesall),

in reply, said, the amount of Three per Cent Stock held on behalf of Greenwich Hospital, on the 1st of January of each of the last five years, was as follows:—1884, £1,632,416; 1885, £1,643,845; 1886, £1,395,692; 1887, £1,295,111; 1888, £1,005,772. It will thus be seen that the amount has been reduced by over £600,000, which has been invested at a higher rate of interest. Arrangements have been made to re- invest an additional sum of £50,000, and negotiations for further re-investments are in progress.