The LORD CHANCELLORwished to take that opportunity of making a state- 1019 ment with reference to the subject upon which his noble and learned Friend (Lord St. Leonards) had put questions to him on Monday and Tuesday last—he meant with reference to the interest of the suitors in the Court of Chancery in the funds which were now in process of conversion. He had already stated the course which he had taken on this subject, namely, that, having consulted with the other Judges, and finding that there was a difference of opinion among them, he thought that the best course he could take for the interest of the suitors would be to do as his predecessors had done on occasions as nearly as possible analogous; and that course he found had always been to assent to their taking the lowest species of stock, giving the parties, meantime, the opportunity of dissenting, if they thought fit, and of having a different order made in their case. Before he did so, however, he had ascertained that, in the opinion of those who were best able to form an opinion on the subject, the probable value of the 2½ per cent stock would amount, as nearly as possible, to 100l. He, therefore, made an order accordingly. Unfortunately, since then the funds had fallen materially, and within the last quarter of an hour he had had an interview with the broker and other gentlemen who managed the financial affairs of the Court of Chancery, from whom he had learnt that the rate of discount had been that day raised by the Bank of England. The funds, as he had just said, having become considerably lower than when his order was issued, he felt that if he were to carry the order into execution in the present state of the money market, it would be injurious to the interests of the suitors. He was, however, placed in this difficulty, that there might be, nevertheless, some suitors who would have preferred the 2½ per cent stock, but who abstained from taking any step in the matter in consequence of his order. On the whole, he believed that the best thing he could do was to look to the current market rate, and having authentic information that, according to that rate, each 100l. of 2½ per cent, stock would, at present, be between 3l. and 4l. below the value of 100l., he had thought that that was a sufficient warrant for him to revoke the order. Consequently, no further assent would be given to the acceptance of that stock on behalf of the suitors in Chancery.