asked the Minister for Industry and Commerce if he will state the circumstances in which the Carrick Slate Company went into liquidation in 1935, the manner in which it disposed of the valuable quarry machinery and equipment; the prices, if any, realised by the sale of this machinery and equipment as compared with the prices at the time of installation, and whether, having regard to the State assistance afforded to this company, he satisfied himself that the company operated the workings in the best interests of the State and the workers.
Ceisteanna — Questions. Oral Answers. - Liquidation of Carrick Slate Company.
At a meeting of the directors of the quarry company held on the 2nd October, 1935, it was decided that the company go into liquidation and the debenture holding bank was requested by the company to appoint a receiver and liquidator. The company had sustained a net loss of £1,986 in the year 1934.
A receiver was appointed on the 8th October, 1935, and he subsequently advertised the property for sale as a going concern or otherwise. The plant and equipment of the company were disposed of by sale and yielded a net amount after payment of miscellaneous expenses and the receiver's fees of £104 18s. 5d. All the plant and equipment were sold in one lot by the receiver and it is not possible for me to relate the prices realised on the sale of the plant acquired out of the proceeds of the loan with the amount realised by the receiver for such plant. I have no reason to think that the company did not operate the quarry in the best interests of all concerned.
Was there any evidence of sabotage at this particular quarry? It is suggested that the working was deliberately blocked by the throwing in of debris of all kinds.
I think there is no foundation for the suggestion. The working of the quarry stopped because the vein of slate proved to be unsatisfactory.
Will the Minister say who purchased the plant?
I would require notice of that. It was sold by the receiver appointed by the bank.
asked the Minister for Industry and Commerce if he is aware that the former employees of the Carrick Slate Company are now trying to eke out a bare livelihood by the hand manufacture of slates; if he will state in whom the mining rights of their former company are now vested, and if he will undertake to have a special investigation made as to the possibility of reopening the quarry and generally facilitating any persons interested in the re-establishment of this valuable national industry with a view to absorbing in productive employment all the former workers.
I understand that some workmen are working the new Ormonde quarry and are paying rent to Mr. James Power, Knockroe, Ahenny, Carrick-on-Suir, who is stated to have bought the quarry in 1941. Generally, the title to the mining rights referred to in the question is obscure and investigation of the title would involve a considerable amount of expense in legal charges without any progress towards development in the absence of any group taking an interest in development.
I am prepared to give any assistance within my power to any persons possessing the necessary financial and technical resources to bring the deposits into commercial production again. It must, however, be remembered that despite a considerable amount of Government help, both financial and otherwise, the quarry company had to close down in 1935 as the quarry became uneconomic to work owing to the deterioration of the slate vein.