§ Order for Committee read.
THE DUKE OF ARGYLLexplained that this Bill was intended to give the sanction of Parliament, not to the arrangement between the Government and the new company, but only to that limited arrangement between the Government and the old company under which the latter would transfer to the new company their property in the cable upon payment of a sum of,£36,000 a year by way of interest, such sum being now converted into the more negotiable form of annuities charged upon the Consolidated Fund.
§ House in Committee.
§ Bill reported, without Amendment; and to be read 3a on Monday next.
§ House adjourned at Seven o'clock, to Monday next, half-past Eleven o'clock.