§ Sir J. LONSDALEasked the Chief Secretary for Ireland if he will state, in regard to land purchase transactions since the beginning of the War, the amount of cash advanced, the rate per cent, at which such money has been raised, the rate per cent of the annuities paid in respect of same, and if the deficiency is borne by the Exchequer; and the total amount of guaranteed land stock issued to vendors, and at what price such stock has been issued?
§ Mr. DUKESince the beginning of the War the amount of cash advanced for land purchase transactions has been1144W £5,731,313, of which £4,754,423 is repayable by a 3¼ per cent, annuity, including interest at 2¾ per cent., and £976,890 is repayable by a 3½ per cent, annuity, including interest at 3 per cent. The money was provided—
£ (1) By the issue of £5,000,000 Guaranteed 3 per cent. Stock at 7l½ 3,575,000 (2) By the application of Sinking Fund instalments 1,103,700 (3) By temporary borrowings at 5 per cent, to 5½ per cent. balance The stock issued to vendors in the period has been—
The loss incurred by issuing stock at a discount is made good by means of an annuity chargeable on the Vote of the Irish Land Commission. A deficiency on the income account of the Irish Land Purchase Fund, due to temporary borrowing, is made good by the Guarantee Fund.
£ Guaranteed 2¾ per cent. Stock at 92 718,025 Guaranteed 3 per cent. Stock at par 1,916,252