§ Mr. HOGGEasked the Parliamentary Secretary to the Ministry of Munitions whether he can state the date or dates of the construction agreements entered into by the Ministry with the Partington Steel and Iron Company; what is the amount the Ministry agreed to advance to the company, and on what conditions as to repayment; how much of this sum had been advanced at the date of the Armistice; and how much is yet to be advanced by the terms of the agreement?
Mr. HOPEThe Minister of Munitions entered into an agreement with the Partington Steel and Iron Company, Limited, in connection with the extensions of the company's steel and iron works On the 7th May, 1917, the terms of which have been modified during the current year. The amount to be advanced to the company by the Ministry under the agreement is limited to £1,625,623. Of this advance 40 per cent. of the approved cost of the extensions was to be a contribution, but such contribution was limited to £700,000, and the balance of the advance was to be a loan at interest repayable over a period of fifteen years. The amount advanced to the date of the Armistice was £661,946. There is still to be advanced under the terms of the agreement the sum of £349,625.