§ MAJOR SAUNDERSON
asked the Chief Secretary to the Lord Lieutenant of Ireland, Whether he can say how much money was advanced by the Treasury to the Irish Land Purchase Settlement Company, and the terms upon 1758 which the advance was made; how many tenants have purchased their farms under the Company; on what terms they have done so; and how many, if any, have been transplanted to the property; and, what was the original capital of the Company in question, and how much was subscribed and actually paid up; and if the repayments to the Treasury have been punctually made?
THE CHIEF SECRETARY (Mr. JOHN MORLEY)
The amount of the advance by the Land Commissioners in this case was £42,300. The terms were (1) that the Company should lodge in the Bank of Ireland a sum of £2,115 m the joint names of themselves and of the Land Commission; (2) that they should charge a further sum of £2,115 on their unpaid subscribed capital; (3) that they should pay an annuity of £1,972 19s., which was a charge on the land sold for 40 years by half-yearly payments. Agreements have been lodged with the Land Commission for the sale of their holdings to 30 tenants from the estate in question. They occupy 527 statute acres, and the price to be paid is £6,442, which will, I believe, be advanced by the Land Commissioners. The Land Commissioners have no knowledge of any tenants having been transplanted to the estate. The advance to buy the estate was obtained for the purpose of re-sale to the existing tenants. The 30 tenants for the sale of whose holdings agreements have been lodged were mainly, I believe, small tenants, whose holdings had been enlarged with land added by the Company. Prior to the advance the Land Commissioners ascertained that there were 867 shareholders in the Company, and that 11,342 shares were subscribed for; that a sum of £2,838 had been paid on foot of 5s. per share on application, and £1,567 15s. on foot of 5s. per share payable on allotment. The payment of the instalment due in January last by the Company has not yet been made; but I am given to understand that there is a period of grace.