§ Mr. CHARLES CRAIG (for Mr. Lonsdale)
asked the Chief Secretary whether his attention has been directed to the judgment given on the 1st instant by the Master of the Rolls in the matter of the sale of the Heard estate, county Cork, in which, referring to the provisional regulations made by the Lord Lieutenant on 15th February, he alluded to the emission from the regulations of any provision for the allocation of stock in cases of pending purchase agreements proposed to be financed wholly by means of stock; and whether he will explain the reason-for this omission?
§ Mr. BIRRELL
It was unnecessary to provide by the regulations for the allocation of 2¾ per cent. Stock to vendors who are prepared to take the whole of their advances in stock. The amount of stock which may be issued in any year for that purpose will be limited only by the amount of such cases which the Land Commission can administratively dispose of in addition to those pending cases in which advances are made in cash or partly in stock and partly in cash.