Committee Reports::Report - Appropriation Accounts 1951 - 1952::18 February, 1954::Appendix


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APPENDIX X.

ASSETS AND LIABILITIES OF THE LETTERKENNY RAILWAY COMPANY.

Do: Rúnaí,

Coiste um Chuntais Phoiblí.

In the course of my examination on 22nd July, 1953, before the Committee of Public Accounts, I was asked to supply details of the assets and liabilities of the Letterkenny Railway Company which had been disposed of in June, 1953, to the Londonderry and Lough Swilly Railway Company. The details are as follows:—

Assets:
Rails, 1,900 tons approximately				..	..	..	..	£17,100
Sleepers (30,000 approx.), telegraph poles (400 approx.), with
wires and about 200 tons of scrap metal						..	..	4,015
								£21,115
Less cost of removal			..	..	..	..	..	1,140
								19,975
Lands and Buildings, including Letterkenny Station House
and Stores and five other station houses						..	..	6,500	£26,475
Liabilities:
Estimated cost of annuities and other compensation payments to employees rendered redundant on closing of
line	..	..	..	..	..	..	..	£9,150
Estimated cost of provision for patrol and caretaking,
maintenance and structural works on 13 bridges						..	..	4,825	£13,975

The figure shown for value of rails and sleepers is based on competitive quotations; that for lands and buildings was arrived at by negotiation following independent valuations by a firm of valuers on behalf of the Londonderry and Lough Swilly Railway Company and by the Railway Inspecting Officer of the Department of Industry and Commerce on behalf of the Commissioners of Public Works.

The estimated cost of compensation payments was based mainly on quotations received from Insurance Companies for the provision of annuities, and the agreed figure for maintenance and other work on bridges was arrived at after examination by the Railway Inspecting Officer and the General Manager of the Londonderry and Lough Swilly Railway Company of the condition of the bridges.

(Signed) DIARMUID O hEIGCEARTUIGH,

Chairman,

Commissioners of Public Works.

23 October, 1953.