Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-03-26
bx Mr. wxndham. may be summar-

bv Mr.. wyndham, may be summar-
lied as follows: A new department OF
the Irish commission Is established
called 1.-The estate commissioners VINO are
under the control OF the lord Heutenant Ioa
Ireland. They will decide what COILS
estates and they may refuse their sane
ton to the sale of poor and non-econolllic
holdings unless adequate facilities are gwen
Herewith. Separate bargains lot tHe pui-
chase of single holdings may continue UNI
der the existing law.
Where estates are sold the agreements
are to be sanctioned by the COMMISSIONER
under a fixed scale based on JuuIclti ,eiI..
This is outside the congested area WHERE
the scale limits do not apply Estates may
be purchased by bargaining between iand,
lords and tenants subject to the approsa,
of the commissioners. 1t is also pIoFiueu
that sales may be made to others VINO are
not tenants, burt who within the past TWEEN
tyfye wears have been tenants in Ireland.
The commissioners may themselves pur
chase estates and improve ana sell them
again. .u
as to the method of purchase, titles, etc.
AS soon as the estate is vested In the ten
ants or the commissioners tae interest," On
the purchase money is to De PAID 70 the
vendor at the rate of 81 per cent until
fixed day called CLOSING day, after
which day interest at the rate OF "a per
cent will be paid until the claims are proved
and the money distributed. Ii there Is any
lneXcuSaDle delay On tue VI e4iS
the interest may be withheld.
Vendors to Be Paid in Cash.
The vendors will be paid in cash, in order
to raise which new stock Will be issued
bearing dividends of 3A per cent. II any
expense Is incurred in issuing the stock on
account of discount, extra stock Will be Is
sued and repaid by the new grant to be
made to Ireland as an equivalent TO tine
grant made under the English education
act If the stock Is issued at premium the
surplus will be issued to reimburse the
new grant. which will also be charged with
ESQ, 600 annually for the first four years TO
meet the expense Of floating the stock.
The Transfer of the Land.
The annual payment by the purchaser
will be II as a terminal annuity and Is as
perpetual rent charge The price paid to
the vendor will be ascertained by capital
izing the annuity at 81 per cent and the
rent charge at % per cent. In order to
facilitate the transfer of the land, grant
in aid will be made of fl2.OOO,OOo, Wnlch
will be employed as follows: percentage
graduated inversely on the amount OF the
purchase price will he paid to the vendor.
the maximum for estates valued at to,OOo
and under will be Is per cent, the minimum
for estates of f40.60Oyor over Will pc per
cent. 1t Is provided that no registration
fees shall be charged and no stamps
charged on conveyances. IT the proprietor
subjects or subdfvidesl the lands. becomes
bankrupt. dies or leaves his land to more
than one person, 1.-THE commission may or
der the land to be sold. The legal business
connected with THE proof of title will be
carried on by the land commission, and
cheaper process VIII be introduced for fix
ing the rents, apiseafs being heard by a jul
dicial commissioner. 9h
The bin which, Is In seven sections and
many subsectons ard headings, will 1t is
understood. be circulated on Friday or Sat
urday.