§ Mr. REESasked the President of the Board of Trade if he can state under what Statute the Board of Trade has power to intervene in order to prevent combinations by private proprietors of railway stock in view to obtaining a moderate return upon their capital?
§ Mr. TENNANTUnder Section 17 of the Railway Regulation Act, 1844, the Board of Trade have a general power to bring before the courts acts on the part of a railway company that, appear to be ultra vires if satisfied that it would be for the public advantage that the company should be restrained from so acting. This, so far as I am aware, is the only statutory power possessed by the Board of Trade in such matters as are referred to in the question.
§ Mr. REESHave any such cases been brought into court? Has any action been taken under the Section?
§ Mr. TENNANTYes; I believe there were cases taken long ago, but not in recent years.