I move: "That a supplementary sum not exceeding £510 be granted to defray the charges which will come in course of payment during the year ending on the 31st March, 1924, for payments under the Tramways and Public Companies (Ireland) Act, 1883, and for other purposes connected with Irish Railways."
This supplementary estimate is to provide the funds necessary for a grant to the Londonderry and Lough Swilly Railway Company in respect of three lines, namely, the Letterkenny, Burtonport and Carndonagh Railways, which are worked by them under arrangements made with the Government. The Company laid before the Government recently a statement as to their financial position and showed that these three worked lines have involved them in a continuous heavy loss since the cessation of the Government control arrangements in August, 1921. It was clear that unless the Government came to the Company's assistance it would be necessary to close down these Donegal Railways.
The Government has agreed to advance to the Company in respect of their losses during the year beginning on the 1st March a total sum of £7,240, calculated as one-half of the ascertained net loss for the year 1923, and payable in four quarterly instalments. The present Supplementary Vote provides the amount necessary to pay the first of these quarterly instalments, less a sum of £300 in respect of a cheque which has been returned. It was a payment due by the Company to the Government and need not be included in the Supplementary Estimate.
