§ Order of the Day for the Second Reading read.
THE EARL OF BELMORE
said, the measure had been brought in by the late President of the Board of Trade, and was founded in great measure on the Report of a Committee of their Lordships' House appointed three years ago, and re-appointed two years ago on the Motion of the late Lord Donoughmore. He (the Earl of Belmore) had, at the suggestion of that noble Lord, brought in a Bill on the subject last Session; but after being sent down to the House of Commons it was withdrawn, in consequence of the late period of the Session and the opposition which it was found likely to encounter. That Bill, however, was founded on the second Report of the Committee, whereas the present Bill was founded on the first Report. The chief object of the measure was to compel Railway Companies to make every half year certain returns relating to the state of their borrowing powers, and to deposit such returns in some public office, so that they might be open to the inspection of intending lenders amongst the public.
§ Bill read 2a, and committed to a Committee of the Whole House on Thursday next.