§ MR. JOHN REDMOND (Waterford)
I desire to ask the right hon. Gentleman the Secretary to the Treasury whether he is now in a position to make any statement in regard to the sale of the Waterford, Dungarvan, and Lismore Railway.
§ MR. HANBURY
Yes, Sir. The tender of the Great Western and the Great Southern and Western Railway Companies has been accented, subject, of course, to a satisfactory arrangement being concluded between those companies and the Duke of Devonshire, who, as the hon. Member knows, is the owner of the adjoining Fermoy and Lismore line. The terms are that £93,000 shall be paid to the Treasury, and 2 per cent. on the capital towards the guarantee of the ratepayers, and that they shall purchase the shares at the sum of £7 12s. 6d. I ought to add that in order to insure the proper development of the district through which the line runs, it has been decided that the following clause shall be inserted in any Bill dealing with the future of the line:—1. If the Board of Works or the Treasury should be of opinion that the two companies are not properly working, maintaining, and developing the traffic of Waterford, Dungarvan, and Lismore line, and that the through or local rates or fares charged upon the line are unreasonable, they may call upon the two companies to make such alterations in their mode of working, maintaining, or developing the traffic of the line, or in the rates or fares charged as they may think fit; and should the two companies feed to make such alterations within a reasonable time after notice to them to that effect, the Board of Works or the Treasury may prefer a complaint against the two companies to the Railway Commissioners, for an Order directing such alterations to be made, and thereupon the Railway Commissioners may make such Order on the complaint as to them may seem fit. 2. The two companies undertake to provide a reasonable through service over the Waterford and Dungarvan line, with any railway company in or hereafter making connection with that line at or near Waterford.
§ MR. DILLON
I understood that in the tender they generally undertook to improve the steamboat service?
§ COLONEL DENNY
I wish to know whether the conditions laid down do not show a rather unusual state of affairs between the Treasury and the railway companies?