asked the Minister for Transport and Power the total amount of capital invested in the various companies now amalgamated in or absorbed by C.I.E.; how much of such capital has been (a) written-off or (b) written down to what residue, and the total of all Government contributions to C.I.E. (including amalgamated and absorbed companies); how much of such contributions is repayable, and the amount of accumulated interest charged on outstanding repayable capital.
Ceisteanna—Questions. Oral Answers. - Companies Absorbed by C.I.E.: Capital Invested.
52.
Detailed information showing the development of the capital structure of C.I.E. up to 1956 is given at Appendix 6 to the Report of the Committee of Inquiry into Internal Transport which is available in the Library of the House. Since then there has been a reduction of £9.9 millions in the capital of C.I.E. under the provisions of the Transport Act, 1958, and a new issue of £3 millions of Transport stock in 1959.
The Capital Liability of C.I.E. as shown in the accounts for the year ended 31/3/60 amounts to £16,514,460. An amount of £5 millions to meet the cost of acquisition and of advances for capital expenses and revenue losses was contributed by the State in respect of the G.N.R. undertaking in the State which was transferred to C.I.E. without capital liability by the Great Northern Railway Act, 1958. A sum of £24.2 millions has been contributed to C.I.E. which, together with the £5 millions contributed in respect of the G.N.R. makes a total State contribution of £29.2 millions. This sum includes £4.82 millions advances to C.I.E. to meet interest on transport stock but the liability to repay this sum was written off in the Transport Act, 1958. There is now no accumulated interest due by the Company to the State.