§ Mr. CONDONasked the President of the Board of Trade who are the present directors and other officials of the Southern Railway Company, from Clonmel to Thurles; where is the head office of the 1231W company; when and where was the last I meeting of the shareholders held; who is now working the railway and on what terms is it being worked; what sums are due to the Treasury and Board of Works and what annual interest do they receive, and what is the capital of the company; who are the present shareholders of the company and what dividend are they paid, and when was a statement of account submitted to them, and what are the present earnings of the company and what is done with same; what sums have the shareholders of the baronies of Middlethird and Slievardagh, county Tipperary, paid up to the present as a guarantee to preference shareholders, and when does that guarantee expire; and what claims have these baronies for a repayment of the sums so paid by them?
§ Mr. HOBHOUSENo directors or other officials of the Southern Railway are known to be in existence. Since 1885 the line has been in the possession of the Commissioners of Public Works as mortgagees in possession. The business of the company is transacted at the office of the Commissioners of Public Works, 6, Upper Merrion Street, Dublin. The last meeting of the shareholders appears to have been held on 24th September, 1884, at 13, Little Queen Street, Westminster, London. The Great Southern and Western Railway Company of Ireland, as successors to the Waterford and Limerick Railway Company, work the line under a perpetual working agreement. The working company take 60 per cent, of the gross receipts. In addition the general expenses of the company have to be defrayed. At 31st March, 1910, the debt due to the Commissioners of Public Works stood as follows:—
Principal £54,693 17 5 Interest 7,449 9 10 Total £62,143 7 3 The rate for interest on the loan is 4 per cent., £306,266. There are three classes of shareholders—(i.) Holders of "baronial guaranteed stock amounting to £62,900; (ii.) Holders of preference stock; (iii.) Holders of ordinary stock; and the various shares are held by a number of private individuals scattered over the United Kingdom. Lists can be supplied if necessary. Holders of baronial guaranteed stock receive a dividend at the rate of 5 per cent. per annum. No dividend has ever been 1232W paid to the holders of the preference and ordinary stocks. Accounts are furnished half-yearly to all shareholders whose addresses are known. The last statement in respect of the half-year ending 31st December, 1909, was issued in March, 1910. The gross receipts from the line for the last five years averaged £11,143, and the net receipts £2,804. The net receipts from the line are applied to meet the annual interest Charged due on the loan from the Commissioners of Public Works and to reduce the arrears. The amount paid to 31st December, 1909, by the guaranteeing area in dividends to the holders of Baronial Guaranteed Stock was £80,352 12s. 4d. The rate of interest is 5 per cent. The guarantee expires with the payment for the half-year ending 30th June, 1910. The amount paid by the guaranteeing area as dividends on the Baronial Guaranteed Stock is a Chargé on the line subject to the provisions of 41 and 42 Vic. c. 123, Sec. 18, Southern Railway Act, 1878.