§ MR. REES (Montgomery Boroughs)
To ask the Secretary of State for Foreign Affairs whether he has any information which may be made public, regarding the issue of a Portuguese railway loan; and, if so, whether such loan is intended in part for the construction of railways connecting Nyassaland and Portuguese Zambesia with the coast.
(Answered by Sir Edward Grey.) The Portuguese Government have published a prospectus announcing the issue of a loan for 3,371,310 milreis in bonds of the nominal value of ninety milreis, bearing interest at 4½ per cent. guaranteed by the revenue from the State railways. Although the fact is not mentioned in the prospectus, this issue appears to be part of an authorised loan of 7,000,000 milreis to be applied to the development and improvement of Portuguese railways. We have no information that any portion of this loan is intended for the construction of the railways mentioned.