146 THE LAMBOURNE ESTATE 



had already been acquired, but which were for the 

 most part only rented from the company. It was 

 resolved, therefore, to abolish the office and secretary 

 in London, and appoint local agents to supervise 

 the different estates. Up to this time the company 

 had declared a dividend every year, which averaged 

 3 per cent. But, in spite of the economy effected 

 by their change of methods, they were unable to 

 carry on, and the company was dissolved in 

 August, 1901, the estates being put up for sale. 



THE LAMBOURNE ESTATE. 



The Lambourne estate, presented to the com- 

 pany by Lord Wantage, consisted of 411 acres, 

 and had cost about 10 10s. an acre. It had been 

 originally occupied by a bankrupt yeoman farmer, 

 and had been ' over sheeped.' It was, moreover, 

 eight miles from a railway, and there was no market 

 within reasonable distance. No one would have 

 anything to say to it, according to Lord Wantage 

 himself. Two hundred and forty-four acres of down 

 land unsuited for small holdings were sold right 

 off for 1,500. Out of this sum 879 15s. 2d. was 

 utilized in adapting the remainder of the land, and 

 converting the buildings and farm-house into accom- 

 modation for two tenants. There were only two 

 purchasers found : one small farmer at Lambourne 

 bought 2 \ acres at the rate of 19 10s. 4d. per acre ; 

 another man, who hailed from Scotland, but had 

 been a bailiff in England, bought 17 acres of the 

 best arable land at 21 an acre and 2 acres of grass 



