§ Mr. ALDENasked the Minister of Munitions whether the Mersey Power Company, Limited, is in negotiation for a site upon which to construct one of the super-power generating stations suggested in the scheme of the Coal Conservation Sub-Committee; whether he has agreed to make a loan of £300,000 to the company; and, if so, on what terms?
§ Sir W. EVANSI understand the company is in negotiation for a site for an extension of its works required for the supply of electric power to munition factories. The extensions do not constitute a super-power generating station such as is contemplated in the scheme referred to by my hon. Friend. The Ministry of Munitions have obtained Treasury sanction to the making of a loan of £300,000 to the company on certain conditions, which have been embodied in an agreement. The loan is secured by a first debenture, and is repayable in fifteen annual instalments commencing in 1921. Interest at 6 per cent., payable half-yearly, is charged on the loan, commencing in two years from the date of the agreement, or when the extension is completed, whichever is the earlier.