§ 65. Mr. Teelingasked the Secretary of State for Foreign Affairs how far the Bill introduced by the Philippine Government in the Philippine Parliament to 153W compensate the British shareholders of the Manila railways has got; and what representations Her Majesty's Government will make to hasten the proceedings.
§ Mr. NuttingA Bill has been introduced in the Philippine House of Representatives which would authorise the Philippine Government to make a loan to the Philippine Railroad Company in order to enable it to pay off its obligations to the bondholders. This Bill had not been adopted by either House of the Philippine Congress when the recent session closed on 21st May, 1953. Her Majesty's Government do not at present propose to make any representations to the Philippine Government, because they have not been asked to do so by the bondholders themselves.