asked the Minister for Industry and Commerce if he will state the general purposes for which the loan of £10,000 was sought by and guaranteed to the Monaghan Curing Company in 1937; the purposes to which the said loan was, in fact, applied; how much of the said sum of £10,000 was, in fact, borrowed by the said company, by what instalments extending over what period the said loan was repaid, and by what date it was completely repaid; and also the names of the directors of the said company from the date when the said loan was guaranteed until the date of final repayment.
Ceisteanna—Questions. Oral Answers. - Monaghan Curing Company Loan.
The general purposes for which the loan of £10,000 was sought on 7th May, 1936, on behalf of the Monaghan Curing Company Limited (to be incorporated) were the erection and equipment of a factory at Monaghan in connection with the establishment of a bacon curing and fresh pork industry; the guarantee in the case was given on the 28th January, 1937; the purposes to which the loan was applied were those already indicated; the whole of the guaranteed loan of £10,000 was raised and was repaid by instalments as follows: On 15th June, 1938, £666 13s. 4d.; on 5th May, 1939, £2,000; on 22nd June, 1939, £666 13s. 4d.; and on 23rd December, 1939, the balance £6,666 13s. 4d.
The names of the directors of the company from the date when the loan was guaranteed until the date of final repayment were as follows: At the time the loan was guaranteed, viz. 28th January, 1937, Mr. Leo Blessing, Dr. Francis C. Ward, Mr. Joseph Corr, Mr. Edward McGuinness and Mr. Patrick Gilliland. On the 17th April, 1939, Dr. Francis C. Ward, Mr. Joseph Corr and Mr. John MacCarvill, and the latter were the directors when the final instalment of the loan was repaid in December, 1939.