§ SIR STAFFORD NORTHCOTE (Exeter)
I beg to ask the Secretary of State for India if he can state the facts connected with the reported sale of Burmese railways by the Government of India to a syndicate; and, if one of those conditions includes a Government guarantee of interest on the stock of those railways?
§ THE SECRETARY OF STATE FOR INDIA (Lord GEORGE HAMILTON,) Middlesex, Ealing
No sale of the Burmese railways has taken place or was ever contemplated. A company has been formed, under agreement with the Secretary of State in Council, and with the concurrence of the Government of India, for working the existing system and making extensions. On the capital raised by the Company, interest at 2½ per cent. is guaranteed by the Government.