§ MR. WHITLEYI beg to ask Mr. Chancellor of the Exchequer what is the amount of the loss that will be involved by the repayment at par of the two recent issues of Irish Land Stock at a discount; and is any provision being made in the Estimates for a sinking fund to meet the loss when repayment falls due.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. AUSTEN CHAMBERLAIN, Worcestershire, E.)The two issues of guaranteed 2¾ per cent. stock, amounting to £11,000,000, are expected to yield cash to a total amount of £9,691,421 6s. 8d. The loss involved by a repayment at par would therefore be £1,308,578 13s. 4d. In accordance with Sections 36 and 47 of the Irish Land Act,1903, annual provision to meet this difference is being made, partly out of the moneys of the guarantee fund and partly out of the annual Vote for the Land Commission.
§ MR. WHITLEYCan the right hon. Gentleman say what the annual payments are on these issues?
§ MR. AUSTEN CHAMBERLAINI must ask for notice of that Question.