WELLINGTON LAND COMPANY 175 



where large lots have been bought by local 

 men with capital, to relet in small lots. These 

 purchasers know the best tenants, and get them ; 

 whereas the Land Company let or sell to anyone 

 who appears to be able to pay at the moment. 



If 4 this estate had been acquired by the local 

 authority at the same price for which it was 

 bought by the Wellington Land Company, there 

 is no doubt that it could have been made of the 

 greatest benefit to the district without undue 

 risk ; under the present conditions the men who 

 could work it profitably are unable to take 

 advantage of the fact that much of it is still in the 

 market. The housing question is left in the hands 

 of speculating builders, who have to pay very high 

 prices for frontage and suitable building-sites ; so 

 that the men, to whom the fact of living on their 

 holdings may mean the difference between success 

 and failure, have to pay accordingly for their 

 housing accommodation. 



A SMALL-HOLDING DEVELOPMENT NEAR BATH. 



As an example of similar undertakings on a 

 smaller scale, mention might be made of a syndicate 

 which was formed at Bath in 1887 for the purpose 

 of dealing with an estate which was then in the 

 market. 



This estate of 126 acres had been let as a farm 

 at l an acre ; two men had failed on it in 

 succession. The only building included the farm- 

 house. It was bought up as a business speculation 



