§ [SECOND READING.]
§ Order of the Day for the Second Reading read.
§ LORD HYLTONMy Lords, this is a Bill for the appointment of Public Works Loan Commissioners for a period of five years, for grants for certain public works, and for the remission of certain arrears of principal and interest—not a large sum of money—that have accrued in respect of the Eyemouth Harbour Loan. It is stated in Clause 4 of the Bill that a sum of £10,000 was advanced a good many years back by the Public Works Loan Commissioners to the Eyemouth Harbour Trustees on the security of the harbour revenues with the collateral security of the Fishery Board for Scotland. Owing to various circumstances it is impossible for the Harbour Trustees to repay the balance of the principal and interest, and it is proposed by this Bill that the principal sum of £200 remaining unpaid shall be extinguished together with arrears of interest amounting to £182 4s. 6d. In Clause 2 power is given for the issue by the National Debt Commissioners, for the purpose of loans by the Public Works Loan Commissioners, of any sum or sums not exceeding in the whole £3,000,000; and for the purpose of loans by the Commissioners of Public Works in Ireland, any sum or sums not exceeding in the whole £400,000. I ask your Lordships to give a Second Reading to this Bill.
§ Moved, That the Bill be now read 2a.—(Lord Hylton.)
§ On Question, Bill read 2a, and committed to a Committee of the Whole House To-morrow.