§ 67. Sir F. WISEasked the Chancellor of the Exchequer if, in view of the amount guaranteed under the Trade Facilities Act, he will say how much of the guarantee is a first charge on the properties and how much is a second charge?
§ Mr. McNEILLThe total amount guaranteed is £66,883,780. Cases in which there is any charge ranking ahead of the Government security account for about £15,750,000 or less than a quarter of the total. Of this figure of £15,750,000, £12,500,000, or 80 per cent., represents guarantees given in respect of debenture stocks of the London Electric Railway, City and South London Railway and the Central London Railway.
§ Sir F. WISEDid I understand the hon. Gentleman to say that three-quarters of the amount are first charges on the security?
§ Mr. McNEILLI said so.