HC Deb 17 July 1894 vol 27 cc273-4

Order for Second Reading read.

THE SECRETARY TO THE TREASURY (Sir J. T. HIBBERT,) Oldham

I beg to move that this Bill be read a second time. Its object is to provide for the purchase by the Trustees of the British Museum of certain lands and buildings belonging to the Duke of Bedford which are situate in the immediate vicinity of the Museum. The Bill empowers the Treasury to borrow £200,000 from the National Debt Commissioners for the purchase of the property, and provides for the repayment of money lent to the Treasury for this purpose by an annuity of such amount that the loan shall be repaid at the end of 50 years, together with interest at the rate of 3 per cent. per annum. The Bill also provides that the property when purchased shall be managed in such manner as the Treasury may direct, and that the net rents and profits accruing therefrom shall be paid into the Exchequer.

Motion made, and Question proposed, "That the Bill be now read a second time."—(Sir J. T. Hibbert.)

Motion agreed to.

Bill read a second time, and committed for Thursday.