asked the Minister for Finance whether any of the directors of the Industrial Trust Company of Ireland, Limited, now in liquidation, visited the United States of America at any time for the purpose of canvassing American investors to subscribe for shares in the company; if so, who were the directors in question; whether he can state if these visits to America were undertaken with the cognisance and consent of the then Government, and whether he is prepared to make available the reports submitted to the company by the directors in question on the result of their canvass.
Ceisteanna—Questions. Oral Answers. - Industrial Trust Company of Ireland.
Prior to the formation of the Industrial Trust Company of Ireland, Limited, Senator Douglas and Mr. Smith Gordon—who subsequently became directors of the Industrial Trust Company of Ireland—visited the United States of America and while there canvassed prominent American businessmen to ascertain what support would be forthcoming for a company floated with Government assistance to promote industrial development in the Irish Free State. These visits may be said to have taken place with the cognisance and the consent of the Government of the day in the sense that the Government was aware of the visits and raised no objection to the inquiries which were being made; the visits were not, however, made primarily for the purpose of securing support for the flotation of a trust company and were not made on the suggestion of the Government. The visits took place prior to the formation of the Company and, so far as the Minister is aware, no reports were subsequently submitted to the Company by the persons in question on the result of their visits.
asked the Minister for Finance whether any offer was made in recent years to purchase at a discount the shares of the Industrial Trust Company of Ireland, Limited, now in liquidation; if so, whether he can state the nature of such offer; whether any intimation, that such an offer was in contemplation or made, was given to the Government or any of the other shareholders; if so, by whom and in what manner was such intimation conveyed and what action was taken in regard to it.
The Minister would be glad if the Deputy would repeat his question in a week's time.