HC Deb 25 March 1892 vol 2 cc1827-8
MR. JOHNSTON (Belfast, S.)

I beg to ask the Chief Secretary to the Lord Lieutenant of Ireland whether the original income of the Intermediate Education Board in Ireland, so often complained of as insufficient, is to be cut down one-seventh in 1895, owing to a change in the investments, and whether he will take this into consideration in connection with the disposal of the funds that have been since granted to the Board?


On the redemption of the debentures at present held by the Intermediate Education Board, the money will, of course, have to be re-invested. The debentures appear to at present bear 3¼ per cent. interest; and if the re-investment be at a somewhat lower rate, as will probably be the case, there will be a slight reduction in the income. As, however, I have already stated, it is my intention to give all the circumstances careful consideration.


Is there any reason why the Board should not invest their capital in Three and a Quarter per Cent. Stock of the Dublin Corporation?


I do not know whether they have the power.