The Sun.
London, England, 1860-12-05 00:00:00

CONSERVATIVE LAND SOCIETY.

The half-yearly meeting of this society was held
yesterday at the offices, Norfolk-street, Strand. Vis-
count Ranelagh was in the chair, and amongst those
present we observed Viscount Ingestre, M.P.,
Colonel Knox, 111. P., the Hon. and Rev. W, C.
Talbot, Lieutenant-Colonel Meyrick, the Rev. Dr.
Worthington, the Hon. Robert Bourke, N. W.
Winstanley, Esq., T. Knox Holmes, Esq., R. N.
Fowler, Esq., the Rev. W. G. Goodchild, and a
large number of gentlemen.
The following report of the executive committee
was submitted to the meeting, and agreed to una-
nimously :
The executive committee, in presenting their eighth
annual report, have great satisfaction in announcing to the
shareholders, that the position and prospects of the Con-
servative Land Society were never more healthy and pro-
mising than at the close of the financial year ending 29th
of September, 1860. There has been progress in every
department of business. Four highly successful allotments
of estates have taken place during the past year, namely,
the Roman Road Estate, North Bow, on the 18th of
January ; the Iffiey Road Estate, Oxford, and Battersea
Ground Rents, on the 23d of May ; the Hertford Estate,
the Camberwell houses, and the first portion of the Roe-
hampton Park Estate, on the 18th of July ; and finally,
the Felixstowe Estate, on the Suffolk coast, on the 28th of
August. The holders of rights of choice have thus had
ample opportunities of selecting plots of land for building
or investment, as well as securing the freehold franchise in
five different counties. The Roman Road Estate is conti-
guous to the first property purchased at Old Ford, with
which it is now connected by the completion of the works
for the Usher and Armagh Roads. Building operations
are in active progress; and as Victoria-park, with two
stations, at Bow and Victoria-park, are close to the society's
estates, 'the committee anticipate that it will be speedily
covered with houses. The Iffiey Road Estate is within a
mile of Oxford, and is admirably adapted for building pur-
poses. The contracts for the roads, drainage, and supply
of water have been signed, and the works commenced.
The Hertford estate is on the Ware-road, and a continua-
tion of Fore-street, in the town of Hertford. The property
is adjacent to the terminus of the Eastern Counties Rail-
way. The contract for the roads and drainage has been
entered into, and the works will be finished early in the
spring. The Camberwell houses are in Denmark-road, not
far from Denmark-hill and Camberwell-green. All the
houses are let, producing good rents, so that the property
is actually realising an excellent return for the investment.
On the Battersea estate, holders of early rights availed
themselves of their privileges, and obtained four well-
secured freehold ground-rents. On the Roehampton-park
estate, 26 plots were offered at the south-west part of the
park, abutting on Richmond-park and Putney heath. In
laying out the first portion of this important property, the
committee have kept in view two considerations—first, that
the allotment should in no way affect the future sale of the
mansion and as much of the park as a purchaser may
desire; and, secondly, that the mapping of the plots should
be so done as to harmonise with the sites of the villas pre-
viously disposed of and those which may be hereafter
selected for building purposes. Bessborough Mansion,
with its surrounding scenery, presents as great attractions
as before the allotment for any nobleman or gentleman
desirous of having the advantages both of a country and
town residence, being within half an hour's drive from the
West-end and an hour from the City. The quantity of
land sold, in fact, brings the acquisition of this fine estate
within the means of a larger number of buyers. At the
same time the executive committee feel bound to announce
that, anxious as they have been that the mansion and park
should be preserved, and the Richmond-park frontage left
undisturbed by the builder, the time will arrive, should a
purchaser not come forward, when the estate can only be
looked upon by the society as building land ; a clearance of
materials and timber must be made, and the whole laid
out in sites for the erection of villas and houses. The
Felixstowe estate fronts the sea, and is five miles from
Harwich, nine miles from Woodbridge, and 11 from Ips-
wich. The progress recently made in disposing of portions
of this beautifully situated marine property, shows that
Felixstowe is destined to become one of the principal
bathing places of the eastern coast. The committee con-
sider that the society has been fortunate in obtaining free-
hold land in so promising a locality, the demand for houses
in the season being so much in excess of the present accom-
modation. The executive committee have the agreeable
duty, to add that there has been considerable movement in
the building operations on other estates of the society, and
that the sale of the stock in hand has been consequently
considerable. The rents on the Roundhill-park estate,
Brighton, are rising, the demand for houses being on the
increase. The development on the Woodbury-park estate,
TunbridgeWells, has been recently so marked as to demand
a second allotment early in the ensuing year. A further
laying out of Roehampton-park estate will follow in due
course, as well as the offering of another portion of the
Felixstowe estate. The works for the drainage of the Ken-
tish-town estate are fast approaching completion, after
which the committee will consider the best mode of offering
the unsold portion. The Downshire-square estate, Read-
ing, must also be cited as exhibiting signs of revival in
building operations. On the Weymouth estate there will
be fresh works contracted for in addition to the roads and
drainage now nearly completed. The raising of the land,
which was suggested at a public meeting, will be carried
out, and a great improvement will be thus insured for this
popular watering - place. New purchases constantly
oecupy the time and attention of the Board. The
society has now acquired forty-three estates in seven-
teen counties, and negotiations are in progress for
land in counties hitherto untouched by the society.
The claims of the allottees have been sustained, as usual,
free of expense, at the courts of the Revising Barristers in
whose districts in which the society's estates are situated ;
and a considerable number of voters have been added to the
register in various counties. This satisfactory result has
not however been arrived at without some of those conflict-
ing decisions peculiar to the working of the present regis-
tration system, the anomalous state of which cannot be
better illustrated than by mention of the fact that a plot of
land for which £52 4s. 6d. has been paid, and adjoining, a
house producing £5 a year ground-rent, and £3O per annum
house-rent, has been pronounced not to worth 40s. per
year; and from such a monstrous decision there is no
appeal, because it is a question of fact and not of law. Tho
executive committee have had to regret the retirement of
one director from the board this year—Borlase Hill Adams,
Esq.—but as the present number of members of the board
is in conformity with the rules, it has not been thought
necessary to fill up the vacancy. The following members
of the board retire by rotation, but are eligible for re-elec-
tion, namely :—Viscount Ranelagh, J. C. Cobbold, Esq.,
M.P., the Hon. W. E. Duncombe, M.P., T. Knox Holmes,
Esq., and the Rev. Dr. Worthington, who offer themselves
for re-election. The executive committee having nomi-
nated Wm. Astbury, Esq., and Newnham Winstanley,
Esq., as their two auditors, the shareholders appointed out
of three candidates their two auditors—the Rev. Mr. Good-
child and E. S. Harding, Esq. The four auditors met at
the offices in Norfolk-street, on the 15th and 16th of
November, certified their examination of the books and
vouchers of the society, examined and verified the
balances carried to profit and loss account of those
estates of which the accounts have been closed and
approved, and signed the balance-sheet on the 16th of
November. Tha committee refer with pleasure to this
balance-sheet. • The tabular statements below show the
receipts for each quarter, the totals for the year, and the
grand totals since the formation of the society :

Shares ; ;
Shares Total
Quarters ending in Complete Shares. Receipts.
rogres.
.
£ s. d.
Dec. 25,1859 lOl 66 167 17,012 13 2
March 25,1860 l3l 127 258 17,883 13 9
June 24, 1860
Sept. 29, 1860
Totals for the year, 472 499 962 73,026 14 2
Totals to Sept. 30,
1839 12,435 2,658 15,093 407,973 14 5
Grand totals to Mi-;
chaelmas, 1860 ( 12,907 3,148 16.055 481,000 8 7

The increase in the receipts of the las'
mas quarter over that of 1858, is .
The increase in the receipts of the lai
day quarter over that of 1859, is
The increase in the receipts of the last Mid-
summer quarter over that of 1859, is
The increase in the receipts of the last Michael-
mas quarter over that of 1859, is 8,965 9 7
The last quarter of the financial year is the largest in
amount since the existence of the society, and the receipts
for the financial year (with the single exception of 1554
when the St. Margaret's mansion was sold) exceed those of
any other year.
The increase in the receipts of the year 1859-
1860 over the corresponding year of 1858-
1859, is ..

Christ-

£7,917 11 10
it Lady-

Amount of reserve fund, 29th September,
1860, is

Total withdrawals from the formation of
the society in September, 1852, to Mi-
chaelmas, 1860 ..

.. £118,693 4 0

Total sale of land during the above period £255,090 10 11
An analysis of the items in the abstract of accounts pre-
sent the annexed gratifying results :
Subscription on shares: year
ending 29th Sept., 1860....£39,869 6 2
Ditto 1859.... 23,778 5 5
Increase.... £16,090 19 9

Deposits : year ending 29th
Sept, 1860 £18,320 1 2
Ditto 1859 6,743 17 1
1nerea5e....£11,576 4 1

Plots of land paid for by shares
in the Society : year ending
29th Sept., 1860 £16,455 8 4
Ditto 1859 2,889 11 5
Increase.... £13,565 16 11

Shares withdrawn year ending23,6sl 19 0
Sept. 29, 1869. X
Ditto 1860....
D15e,c9r2e4a5e15...1.1
£7,727 3 1

Advances made on Land and
Building Account : year
ending 29th Sept., 1860....L23,727 9 3
Repaid for the same period .. 10,920 12
Increase in Assets on Loan Accounts. £12,806 16 10
The returns for the current quarter, ending December
25th (which are excellent up to the date of this report), and
those for the second quarter, ending at Lady Day, 1861, for
the ninth financial year, will be given at the quarterly meet-
ing in April next.
The returns to 29th Sept.,ZlB6o, of the Register of
Order of Rights are au follows :
Completed. Drawn. Seniority. Total.
3812 3104 1631 8547
Deduct rights exercised on estates, &c... 6016

Unexereised rights

.. 2531

The last share number on the register by seniority, on the
29th of September, 1860, is No. 12,215, and tho last
share number taken to the same date was No. 16,055.
Total amount of land allotted during the
year ending Sept. 29, 1860 £31,448 1 10
Total amount of plots en sale at Michael-
mas, 1859

45,758 17 0

Total 77,206 18 10

The sale on the allotment of 1860 was 21,066 10 4
The sale of stock in hand during the past
year was

Total sale of land in 1860 .. 25,817 610

Freehold building plots now for sale in
various counties
Grand total of land sold to December Ist,
1860
Gratifying as the above analysis proves to be, the emu-

Live -nmittee have an addition to make to it which will
be ern im ently satisfactory to the shareholders, inasmuch
as .
lance-sheet shows that the amount of £1 ,500 bor-
tohe t year from the Reserve Fund has been. repaid,
mfoo II :a
ss
and he latter has been increased by interest to the
lls. ld. The Committee will coutinue
amoutnhta t
of ts x
the rate . of iii:erest for the present at 5 per cent. per i annum
.shares and shares paid a year in advance,
on compi toted'
and 4 per • cent. per annum on the Deposit Department.
The holders of uncompleted shares in re spect of which
plots on e i,tates httv e not been taken, will likewise receive
per cent., which Will be placed as bonus in their pass
books on 101 shares Not in arrear at the date of this annual
meeting. With this account the Execuh've Committee
close thci- r Eighth Annual Report, convinced that the
financial r eturns will speak for themselves, .axtd that at no
period of the history of the Conservative Land Society was
there wore reason for congratulation. No e:etirtions will
be spare& by the Committee to maintain this pr ogress."
A cordial vote of thanks to the chairman closed
the prooeedings.
After leaving the room the members proceeded to
ballot foi' the right of choice of allotments of land.
We reg ret to state that the able and indefatigable
secretary of the society, Mr, C. L. Gruneisen,
although Present at the meeting, was from tempo-
rary hex pdth unable to take an active part in the
proceeLlingt