§ 115. Mr. Bossomasked the Minister of Transport the total amount the holders of the so-called "Big Four" railway securities received in dividends in 1944, 1945 and 1946; and how much they will receive under the new scheme when it comes into force.
§ Mr. G. R. StraussThe total amount of interest and dividends paid by the four main line railway companies on their loans, debenture, guaranteed, preference and ordinary stocks for 1944 and 1945 were approximately £40 million and £42 million respectively. Figures for 1946 are not yet available. The amount of British Transport Stock to be issued in exchange for the existing securities of the four main line railway companies, and the rate of interest it will carry, will be decided by the Treasury at the date of issue of the stock. Meanwhile I am unable to estimate the total amount of interest which will be payable to the holders.