MR. PARNELL'S LAND COMPANY.

New Zealand Tablet, Volume XII, Issue 14, 25 July 1884, Page 20

MR. PARNELL'S LAND COMPANY.

(Dublin Freeman June 7.) The first transaction of the Irish Land Purchase and Settlement Company came before Judge Flanagan on Wednesday, for the purpose of having the offer of the Company accepted by the Judge. In order to comply with the regulations of the Court, the application, X£°£, H T! ce M by T°T D ?> el ,? n behßlf of certain iacumbrances and wS ZtS M 'p i" J A Bodkin ' the °™ er ot the eßtate in question, « f 4? er °v, he Com j> an y Bhoa] d be accepted, or in tie alter! ff £ \. k' be P» b w »te of tne estate should be postponed so that it might be ascertained if the sum offered by the Company was sufficient to discharge the incumbrances. The judge made the order in the alternative form, hence the purchase may now be said to be completed. As this is the first purchase made by this Company the case naturally attracts mnch interest. Theestate is situate in the county of Galway, near the town of Tuatn, contains 2,767 acres, and the lands are described as some of the best feeding and meadow land m the district. On one of the lots there is an elegant mansion, in the decoration of which the owner quite recently expended a large sum. While we are strongly of opinion that an occupying proprietary is the only solution of the land question, we would not desire to see the handsome residences which are every•where through the country become deserted, or the gentlemen who occupy them forced to leave. Hence we are glad to find that this mansion and the demesne of of some 800 acres remain in the family of the owner, as we understand that a portion of the transaction Whl nV °M c *n e t^SM* tbifJ """* of «» estate to the owner's brother, Mr. C. J. Bodkin. There is, the rental states, a large portion of theestate set for grazing purposes only, and the rental shows also a number of tenants on some of the townlands whose holdings are of the character to the enlargement of which one branch of the operations of the Company are directed. There are other holdings apparently the tenants of which can live with comfort upon, them and these, no doubt will be re-sold to the tenants. The Company can thus on this estate carry out its two-fold operation— creating peasant proprietors and relieving congestion. This is practical work. As to the pries paid forthe estate, it stems to be about twenty years' purchase for the entire estate ; but we understand that the terms upon which the demesne and house are beintr reBold, and the prices which may be obtained for some of the other lots which are exceptionally well circumstanced, will very much reduce the cost to the Company of the lands which are congested, or which will be required for relieving congestion, and that this portion ef the estate will not cost the Company more than about 17 years' purchase, or perhaps less for the inferior lots. Professor Baldwin, to whom is due the credit for having negotiated this purchase, displayed in the matter those qualities which have rendered his acceptance of the office of managing director such an advantage to the Company, and aVuSuYter^