§ MR. KNOX (Cavan, W.)I beg to ask the Under Secretary of State for the Colonies what number or amount of debentures or Debenture Stock have been issued by the British South Africa Company, and on what terms and under what powers they have been issued; whether there is any limit to the amount which may be issued by the Company; and whether all or any of the debentures or Debenture Stock would have priority over the charge purported to be given by the Company over the revenues of their territory by the contract with the Bechuanaland Railway Company?
§ MR. S. BUXTONThe British South Africa Company has power, under its Charter, to issue debentures to the extent of one-half of its share capital. Under that power it has created £750,000 Six per cent. Debentures, of which about £650,000 have been issued up to date. None of these debentures have priority over the railway subsidy charge given by the Company over certain of the sources of revenue of their territory under the Bechuanaland Railway Contract.
§ MR. S. BUXTONThat I cannot say.