asked the Minister for Industry and Commerce if he will state (a) the amount and value of American coal held in stock in (i) Dublin and (ii) Cork; (b) the rate of interest charged during the last financial year on money borrowed to purchasethis coal; (c) the amount paid for storage per ton or per acre per year in Cork, and (d) the amount paid for storage per ton or per acre per year for fuel that was stored in the Distillery Field and Musgrave Park at Cork during the last emergency.
Ceisteanna—Questions. Oral Answers. - Stocks of American Coal.
The quantities of American coal now held in stock amount to 259,020 tons in Dublin and 33,120 tons in Cork; the book values of these quantities are £2,155,672 and £264,027 respectively. The rate of interest charged during the last financial year on borrowings by Fuel Importers (Éire) Limited was 4½ per cent. The amount paid for storage in Cork is £250 per acre per annum for one site where the rent is payable on an acreage basis. A second site is occupied at an annual rent of £240 for the area in use. The annual rents of Distillery Field and Musgrave Park during the last emergency were £200 and £133 respectively for the areas occupied.
Did the Minister or anyone in his Department check as to the grounds on which £250 per acre per annum was paid in Cork for the storage of coal in the open? Who was responsible for making that agreement? While we could get storage for £133 a year in another place, we had to pay £250 per acre per annum for land for no other purpose than dumping. Has the Minister checked up as to the reason why we were compelled to pay £250 per acre in Cork for storage?
The arrangements are made by Fuel Importers, Limited, but I understand that, in fact, by transferring to this site Fuel Importers, Limited, saved a substantial amount of money because on the other site it was necessary to maintain watchmen in order to protect the stocks.
Are we told that there were no watchmen employed where the coal is now stored?
There has been a saving on that head and I am sure that there is a watchman.
Is the Minister awarethat there is a watchman employed where the coal is at present being stored in Cork, and in this connection is he aware on whose authority and for what reasons Fuel Importers Limited were allowed to pay £250 per acre for storage of the coal in Cork?
The arrangements were made by Fuel Importers Limited and I have enough confidence in them to assume that they made the best arrangement possible in the circumstances prevailing.
I have no confidence in any man who decided to give £250 an acre per year.
In view of the fact that everybody admits that coal exposed in all kinds of weather is deteriorating year by year, will the Minister now use his influence to get Fuel Importers Limited to get rid of this coal and not be paying a high rent to Fords and the Cork Distillery Company for the past seven or eight years?
That is a question of policy which I will discuss on the Estimate.