Dáil Éireann debate -
Tuesday, 14 May 1957

Vol. 161 No. 9

Ceisteanna-Questions. Oral Answers. - Tax Relief on Irish Securities.

Mr. Sweetman

asked the Minister for Finance if he will state the securities issued to the public since 1932 to which Section 7 of the Finance Act, 1932, applies.

Dr. Ryan

As the answer is in the form of a tabular statement I propose, with the permission of the Ceann Comhairle, to have it circulated with the Official Report.

Following is the statement:—

ISSUES of Shares, etc. to which Section 7, Finance Act, 1932, as amended by Section 7, Finance Act, 1935 and by Section 7, Finance Act, 1956, applies.

Name of Company	Description of issue
A.C.E.C. (Ireland) Ltd.	150,000 6% Cumulative Preference Shares of £1 each.
Arklow Pottery, Ltd.	(i) 35,000 6½% Cumulative Preference Shares of £1 each.
	(ii) 130,000 Ordinary Shares of £1 each.
Barrow Milling Co., Ltd.	(i) 18,000 6½% Cumulative Preference Shares of £1 each.
	(ii) 12,000 Ordinary Shares of £1 each.
Blackwater Cottons, Ltd.	1,000,000 Ordinary Shares of 5/– each.
Cement Ltd.	(i) £450,000 4% First Mortgage Debenture Stock.
	(ii) £200,000 6½% Cumulative Preference Stock.
	(iii) £400,000 5½% Second Cumulative Preference Stock.
	(iv) £1,200,000 Ordinary Stock.
Clondalkin Paper Mills Ltd.	1,600,000 Stock units of 5/– each.
Comhlucht Siúicre Éireann, Teoranta	(i) £1,000,000 4% Guaranteed Debenture Stock.
	(ii) 500,000 6% Cumulative Preference Shares of £1 each.
The Dickens Leather Company Ltd.	(i) 20,000 6½% Cumulative Preference Shares of £1 each.
	(ii) 240,000 Ordinary Shares of 5/– each.
Donegal Bacon Co. Ltd.	23,000 Ordinary Shares of £1 each.
Ever Ready (Ireland) Ltd.	20,000 6% Cumulative Preference Shares of £1 each.
Fry-Cadbury (Ireland) Ltd.	20,000 5% Cumulative “A” Preference Shares of £1 each.
General Textiles, Ltd.	(i) 150,000 Ordinary Shares of £1 each.
	(ii) 200,000 5% Cumulative Preference Shares of £1 each.
Harringtons & Goodlass Wall, Ltd.	15,000 7% Cumulative Preference Shares of £1 each.
The Insurance Corporation of Ireland Ltd.	100,000 Shares of £1 each.
Irish Aluminium Co. Ltd.	(i) 20,000 6½% Cumulative Preference Shares of £1 each.
	(ii) 60,000 Ordinary Shares of £1 each.
The Irish Dunlop Co. Ltd.	150,000 “B” 6% Cumulative Preference Shares of £1 each.
Irish Pharmaceuticals, Ltd.	10,000 “A” Shares of £1 each.
Irish Tanners, Ltd.	(i) 100,000 6½% Cumulative Preference Shares of £1 each.
	(ii) 608,000 Ordinary Shares of 5/– each.
Irish Wire Products, Ltd.	(i) 35,000 6½% Cumulative Preference Shares of £1 each.
	(ii) 20,000 6½% “A” Cumulative Preference Shares of £1 each.
	(iii) 40,000 Ordinary Shares of £1 each.
	(iv) 30,000 “A” Ordinary Shares of £1 each.
Irish Worsted Mills Ltd.	(i) £50,000 6% Cumulative Preference Stock.
	(ii) £75,000 “A” Ordinary Stock.
Lancegaye Safety Glass (Ireland) Ltd.	96,000 6% Preferred Ordinary Shares of 5/– each.
Midleton Worsted Mills, Ltd.	100,000 4½% Cumulative Preference Shares of £1 each.
Milford (Donegal) Bakery & Flour Mills, Ltd.	40,000 6% Cumulative Preference Shares of £1 each.
Monaghan Leather Co. Ltd.	(i) 20,000 7% Cumulative Preference Shares of £1 each.
	(ii) 40,000 Ordinary Shares of £1 each.
The Newbridge Cutlery Co. Ltd.	(i) 15,000 6½% Cumulative Preference Shares of £1 each.
	(ii) 15,000 Ordinary Shares of £1 each.
Padmore & Barnes (Ireland) Ltd.	30,000 6% Cumulative Preference Shares of £1 each.
Salts (Ireland) Ltd.	(i) 125,000 5% Cumulative Participating Preference Shares of £1 each.
	(ii) 175,000 “A” 5% Cumulative Preference Shares of £1 each.
	(iii) 187,500 “A” Ordinary Shares of 5/– each.
Shield Insurance Co. Ltd.	200,000 Ordinary Shares of £1 each (10/– paid).
Slane Brick Co. Ltd.	(i) 15,000 6½% Cumulative Preference Shares of £1 each.
	(ii) 10,000 Ordinary Shares of £1 each.
Solus, Teoranta.	200,000 Shares of £1 each.
Springs, Ltd.	(i) £20,000 6% Cumulative Participating Preference Stock.
	(ii) £30,010 10s. 0d. “A” Ordinary Stock.
Unidare Ltd.	4,000,000 Ordinary Shares of 5/– each.
Wallpapers Ltd.	(i) 35,000 6% Cumulative Preference Shares of £1 each.
	(ii) 35,000 Ordinary Shares of £1 each.
Waterford Ironfounders Ltd.	(i) 35,000 6% Cumulative Preference Shares of £1 each.
	(ii) 66,000 “A” Ordinary Shares of 5/– each.

The foregoing statement includes "rights" and "bonus" issues deemed under the provisions of Section 7, Finance Act, 1956, to have been issued for public subscription.

Mr. Sweetman

Would it not be a very simple matter for the Minister or his colleague, the Minister for Industry and Commerce, to see what public issues have been made and, by deducting from those issues the list which the Minister now circulates, to find the answer to the question which I already asked the Tánaiste?

Dr. Ryan

Perhaps when the Deputy sees this very long list he will be able to find the information.

Mr. Sweetman

I have seen it already—I had a list like that.