§ Order of the Day for the Second Reading read.
§ Moved, "That the Bill be now read 2a."
§ LORD HOUGHTON, in rising to move the Resolution standing in his name, said, the noble Marquess (the Marquess of Salisbury), who took a great interest in the question of the payment of interest out of capital, and had, in addressing a deputation of the unemployed, advocated such payments in the case of the Regent's Canal Bill, was absent; and it was not desirable, in the interests of 1456 the promoters of this Bill and of similar Bills, that the question should be discussed in the noble Marquess's absence.
§ Moved, "That the Second Reading of this Bill, and of any other Bill containing provisions for payment of interest out of capital during construction of works, be postponed until the 12th day of April next."—(The Lord Houghton.)
§ THE CHAIRMAN OF COMMITTEES (The Earl of REDESDALE)said, he would have liked to hear what the character of the Bill was. The whole question of payment of interest out of capital depended upon the particular case brought under consideration. In the present instance, the Dore Railway Company was in an advantageous position, as 3 per cent of the capital was guaranteed to the shareholders by another Company.
§ VISCOUNT CRANBROOKsaid, the question was not a Party one. He, however, agreed that it was desirable that his noble Friend (the Marquess of Salisbury) should be present when the matter was discussed. He had no objection to the Motion.
§ Motion agreed to.