§ 57. Mr. GODFREY LOCKER-LAMPSONasked what are the terms on which the new issue of £2,500,000 Three per Cent. Irish Land Stock has been made, i.e., to whom has it been issued and what is the price; and who will benefit by the discount when ultimately the Irish tenant purchasers have paid up the full purchase money under their annuity contracts?
§ Mr. LLOYD GEORGEThe issue of £2,500,000 Guaranteed Three per Cent. Land Stock was made to the National Debt Commissioners as at 7th April last at a price of 81¼, the average market price of the stock on that day. The issue was made partly in repayment of cash advanced to the Irish Land Purchase Fund and partly in exchange for cash required to meet the proximate outgoings of that fund. The stock is held for the Savings Banks Funds, and should it be realised at 800 a higher price than 81¼ those funds would benefit.