§ CAPTAIN DONELAN (Cork, E.)I beg to ask the Chief Secretary to the Lord-Lieutenant of Ireland whether his attention has been directed to a statement at a meeting of the Cork branch of the Irish Landowners' Convention, held in Cork on Saturday last, by the chairman, to the effect that the provisions of The Land Purchase (Ireland) Act, 1903, did not permit trustees to invest in 4 per cent. securities; and, if so, whether he will consider the advisability of introducing, if necessary, legislation to make clear the provisions of the Act relating to the investment of trust funds.
§ * MR. WYNDHAMUnder the provisions of Section 51 of the Act of 1903, trustees are empowered to invest in a large number of securities yielding 4 per cent. at par. Many of these are at a premium, and consequently do not yield that rate of interest, but there are a number which can be purchased to pay 4 per cent.
§ CAPTAIN DONELANMay I ask if I am to understand the right hon. Gentleman to mean that the statement in the Question is inaccurate?
§ * MR. WYNDHAMYes, Sir, that would be so.
§ CAPTAIN DONELANThen will the right hon. Gentleman consider the desirability of furnishing the Irish Landowners' Convention with a copy of the Act, to enable them to study it?
§ [No answer was returned.]