The New York herald., 1921-09-11

on Market at EnOT-
nous Sacrifices
THIS study of the heavy dis
I posdls of great English coun-
tfy properties is from the pen
of one of the best known authorities
IN London on the real property
market an Great Britain.
Special Correspondence 10 THE New YoRK
HERALD
copWi0ht, 1921. bg THE New YORK HERALD
New York Herald Bureau.
London, Sept. 1.
N ESPTTE all the stately homes of
England that have passed under
the hammer within the last few
months and despite the daily page and more
of the Times advertising further splendid
estates great and small, will remain in the
hands Of the original owners
Up to fifty years ago 1000 persons owned
half the agricultural land of England and
Wales. Heavy as have been the sales, past
and to come they make no serious dent in
the ranks of these great property owning
classes. In Scotland Parliamentary com
mittee reported only the other day that
nearly a fifth of the country's total area
was reserved in deer forests
There can be no doubt, however. that the
sales have been heavy and estates of su-
preme historic and artistic interest have re-
Gently passed into new hands. They have
ipta
People Of recent wealth. like Lord Lever
hulme and Lord Beatty institutions and
hotels and the housebreaker and lot seller
The toll has been the heaviest in the me-
dunn sized establishments That means
places used primarily for pleasure. They
have had large houses and relatively small
amounts of agricultural land. In estates
where the agricultural land ran into thou
sands of acres sales of part of the land en-
abled proprietors to hold onto the most val
liable sections, with their mansions, in the
face of rising costs and taxes Medium
sized places have had to go entire
Formerly Owner Lost Head
When He Lost His Home
When "the stately homes of England"
changed hands in the Middle Ages it was
often by royal grant or forfeiture, and the
holder literally lost his head under the axe
OF the executioner at the same time. To-day
when he loses his ancestral home under the
hammer Of the auctioneer he does not lose
his head, literally or figuratively, but re-
invests the purchase money i'm what are
called "gilt edged securities" and rejoices
at his release from the burdens of land
lordism
Half a century ago a census of land
owners. known as "the New Domesday." was
compiled. The old Domesday drawn up
just after the Norman Conquest in 1866.
gave remarkably comprehensive ana ac-
curate survey of English land In passing
1t may be mentioned as showing the
tinuity of English land tenure that il Is
common to find the history of some estate
now in the market commencing with the
Norman records, which are still preserved
and can be inspected at the Record Office
In London.
The New Domesday" proved that the land
of England and Wales, exclusive of London
OF roads, crown forests, wastes. commons
and houses and gardens of less than an
acre. amounted to 32,s62,343 acres. But as
a matter of fact 1000 persons owned half
the agricultural land OF the country. The
held was by no means evenly dis
tributed among that comparatively small
number some owners having over 100000
acres. few approximately twice that area
and others $4,000 or more.
The New Domesday had not been issued
very long when a disastrous season afflicted
British farmers and widespread ruin ensued.
The landlords came to the rescue with heavy
remissions of rent. though continuing to
spend money freely in the upkeep of farms.
The corner was turned, comparative pros
perity came again to the tenants, but rents
remained at the low point to which they
had fallen TO meet the emergency.
Judged as income producing property land
declined very seriously in market value and
all the while the owners the landed gentry.
were trying 10 keep up the country houses
with their amenities and to defray 1.-THE.
mortgage interest, family burdens and the
cost Of maintaining estates in a proper con-
dtion.
At Length the Great Land Owners
Learned Theirs Was a Business