HC Deb 21 April 1926 vol 194 cc1207-8
54. Sir FREDRIC WISE

asked the Secretary for Mines the output of the collieries which come under the Kent Coal Company and which received a guarantee of £2,000,000 under the Trade Facilities Acts?

The SECRETARY for MINES (Colonel Lane Fox)

The company's plans include three collieries. One has not yet been begun; another, which is planned to produce a minimum of 750,000 tons per annum, is now being sunk and is expected to begin production on a commercial scale next year; the third has produced coal in the past, but is now undergoing further development and re-organisation to increase its capacity to about 500,000 tons per annum, and is expected to be ready to resume commercial operations in a few weeks' time.

Sir F. WISE

Can the right hon. Gentleman say whether that is the total security for the £2,000,000 advance?

Mr. T. WILLIAMS

Will the right hon. Gentleman give us the names of the collieries referred to in the answer?

Colonel LANE FOX

In regard to the first one I referred to, the site is not yet definitely determined. The second is Betteshanger, and the third is Snowdown. I assume that the security is commensurate, and a very considerable one in view of the reports as to the probable yield of coal in the district.

Mr. WILLIAMS

Can the right hon. Gentleman tell us of any mine in Kent that has yet returned a profit?

Colonel LANE FOX

This is a new development, and with very great possibilities. Everyone knows that there have been failures in the past, but the problem has never been tackled in the way it is being tackled now.

Mr. WILLAMS

Is it not a very delicate thing to lend £2,000,000 on such poor security?

Mr. SPEAKER

That is a matter for the Committee.