§ 58. Mr. T. M. HEALYasked the Chancellor of the Exchequer what cash was received on account of Sinking Fund since the first issue of Guaranteed Land Stock under the Act of 1891, from all sources, and from each head of the land purchase account, including tenants' annuities, sales of, holdings, guaranteed deposits exchange or surrender of stock, county percentage or payment in lieu thereof, dividends and interests on investments, or any other source; what cash was paid for the £588,351 of Guaranteed Land Stock (1891) and the £292,889 of Guaranteed Stock (1903) held on the 31st March, 1912, on account of Sinking Fund; why was such stock under the Act of 1903 purchased on account of Sinking Fund, and why was the whole of the sums available not invested in the Guaranteed Land Stock of 1891, in view of the fact that the price of that stock is considerably below its redeemable par value; what is the total amount of 1891 stock cancelled, and why is the whole amount of such stock purchased on account of Sinking Fund not cancelled as soon as purchased; must the 5s. per cent. of the advances payable under the Act of 1891, known as the county percentage, be applied since the Land Law Act, 1896, Section 27, towards repayment of capital, and whether the payment to the Sinking Fund is now at the rate of 1¼ per 1169 cent. of the nominal amount of the capital, under the combined effect of Section 27 and Sections 1, 4, and 15 of the Act of 1891; are these provisions as to Sinking Fund still operative; whether the stock issued before and after the Act of 1896 was accepted by the vendors and dealt with by the public on the faith thereof; are all the issues of the stock now consolidated, and is any and what distinction made by the Treasury as to the rate and application of Sinking Fund in respect of the several issues of such stock; what sum in cash has been applied in redeeming the £2,164,028 of Guaranteed Two and Three-quarter per Cent. Land Stock, stated to have been redeemed on the 31st March, 1912, and to what extent was such redemption effected by purchases thereof under par, if so, at what price, and how otherwise was such redemption effected: whether under the Act of 1891, Sections 1 and 4, payments to the Sinking Fund have been made out of the whole land purchase account or, in case of deficiency, out of the Guarantee Fund and the Consolidated Fund; whether deficiencies in the tenants' annuities, as originally provided for, owing to the alteration in the mode of payment, under Section 25 of the Act of 1896, has to be made good out of all these funds; whether the National Debt Commissioners are bound to redeem at par outstanding stock issued under the Act of 1891, so soon as the Sinking Fund held by them, either in cash or securities, equals the par value of stock held by the public; and whether for this purpose stock held by various Government Departments is on the same footing, and if the stock has in any event to be redeemed under the Act of 1891, Section 1, Sub-section (2), at or before forty-nine years from the time of the issue of such stock?
§ Mr. LLOYD GEORGEWith the permission of the hon. and learned Member, I will circulate a detailed answer with the Votes. [See Written. Answers this date.]
§ Mr. T. M. HEALYHas the right hon. Gentleman observed that the Treasury have stopped nearly half a million of money from the Irish Taxation Account in the last few years, and that, while we have no means whatsoever of discussing matters with the Treasury, they seem to exercise a paramount right to make the deduction without question?
§ Mr. LLOYD GEORGEI cannot accept the fact stated by the hon. Member.
§ 97. Mr. DELANYasked when the right hon. Gentleman will be in a position to announce that the Estates Commissioners have come into possession of the lands of Bordwell, Owens estate, Queen's County; whether he is aware that negotiations for the acquisition of this property have been going on for the past three years, and that an inspector has been down in the locality making arrangements for the distribution of the land; will he say who the inspector having charge of the scheme is; and whether the local representatives of the people will be consulted before the scheme for distribution is approved by the Commissioners?
§ The CHIEF SECRETARY for IRELAND (Mr. Birrell)The Estates Commissioners have had a preliminary inspection made of the lands and have intimated to the owner the price they are prepared to advance if formal proceedings for sale are instituted under the Land Purchase Acts, and title is shown in accordance with their requirements. Until this has been done, and they acquire the lands the Commissioners will not be in a position to consider the question of their allotment.
§ 98. Mr. J. P. FARRELLasked whether the necessary steps are yet near completion for the acquirement of the untenanted lands of Clonfin; and when the distribution of these lands will take place?
§ Mr. BIRRELLThe Estates Commissioners hope to issue their offer for the purchase of these lands at an early date.
§ 99. Mr. J. P. FARRELLasked whether the scheme for the untenanted lands of Rhyne, county Longford, the property of Mr. J. W. Bond, D.L., has yet been prepared; and, if not, when it is expected to be ready?
§ Mr. BIRRELLThe reply to the first paragraph of the question is in the negative. The owner has accepted the Estates Commissioners' proposal to purchase these lands, and they hope to be in a position to take over possession of them and distribute them during the present year.