§ 74. Mr. DAY
asked the Financial Secretary to the Treasury particulars of the amount of losses definitely known to be irrecoverable in fulfilment of the guarantees given by the Government under the Trade Facilities Acts; and what further steps ate being taken to recover the net total of £5,910,580 still outstanding on Government guarantees given under these Acts?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. W. S. Morrison)
With the hon. Member's permission, I will circulate the particulars asked for in the 1409 first part of the question in the OFFICIAL REPORT. In reply to the second part of the question, the steps taken by the Treasury are those usually taken by a secured creditor to protect his security and obtain repayment of his debt; and with this object the cases in which advances made by the Treasury are outstanding are kept under close and constant review by the Treasury, in consultation with Lord Plender, the chairman of the Trade Facilities Act Advisory Committee.
|Company.||Amount of loan guaranteed.||Payments made by the Treasury under guarantee.||Receipts.||Net Loss.|
|Holbrook Brick and Tile Company Limited.||4,700||4,134||266||—||4,400|
|Orchard Sugar Company Limited||…||180,000||171,180||3,266||12,000||162,446|
|Leckbampton Quarries Limited||…||100,500||100,500||18,294||—||118,794|
|Four Counties Bacon Factory Limited||12,000||1,941||1,009||—||2,950|
|P. D. Mitchell Limited||…||…||60,000||52,193||1,511||—||53,704|
|Fuel Production Company Limited||…||100,000||94,062||1,725||1,613||94,174|
|Levant Tin Mine Limited||…||…||10,000||9,340||648||—||9,988|
|Waverley Shipping Company Limited||37,000||1,307||—||—||1,307|
|Lanner Syndicate Limited||…||…||25,000||4,554||—||—||4,554|
|Wheal Jewell and Marytavy Mines Limited.||10,000||10,000||1,000||2,779||8,221|
|£ 566,978||£ 16,892||£ 550,086|
§ All these companies have been liquidated, or are at an advanced stage of liquidation.