asked the Minister for Industry and Commerce if the Committee appointed under the Trade Loans (Guarantee) Act, 1924, has as yet reported on the application of Mr. Ambrose for guarantee under the Act for the development of the mineral resources of Achill, and, if not, if he will state when it will be possible for the Committee to report.
CEISTEANNA.—QUESTIONS. (ORAL ANSWERS.) - ACHILL TRADE-LOAN GUARANTEE.
Mr. Ambrose, on behalf of himself and others, filed an application for a guarantee under the Trade Loans (Guarantee) Act, in respect of a loan of £10,000, the proceeds of which it was proposed to apply to the development of mineral deposits in Achill Island. As the result of correspondence with my Department, it appeared that the applicants could not raise the working capital which would be necessary for the schemes they had in view and, accordingly, Mr. Ambrose, by letter dated the 14th May, last, intimated his desire not to proceed further in the matter. The application was not, therefore, submitted to the Advisory Committee.