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Annual report for year ending July 1859, including a list of leasholders and undertenants who have surrendered their several leases; general account of income and expenditure; detailed statements of disbursements including costs of drainage and building improvements; a list for compensation for surrender of tenancies and emigration; and a detailed rental of entire estate.

Contains a summary report outlining the mechanism of the leaseholder's compensation fund, the distribution of which, W. S. Trench describes as 'the most arduous and most serious task of responsibility I have ever had to encounter.' Also discusses estate improvements such as the drainage of 125 statute acres, particularly in Meelaghans where 100 acres 'of miserable cut away bog' was drained and cultivated. Also discusses improvements to the labourers' cottages through the additions of chimneys and windows and a proposal to enter the new cottages for the award of the Gold Medal offered by the Royal Agricultural Society. Further estate improvements include new roads through Killellery, Lugmore and Meelaghans.

Agrarian unrest is also discussed in the context of the case of Henry Kane, tenant, who along with his brother, Michael Kane, each held a farm in Killurin. On the death of Michael, Henry took immediate posssession of his brother's farm, to which the Trenchs objected. Report discusses general tenant support for Kane, even from outside the estate, and includes descriptions of intimidatory tactics by Ribbonmen. Also discusses measures to have Henry Kane ejected from the land altogether.

Drawings in the report include:
Page 2: 'Ancient pan found on Geashill Estate, 4 feet broad x 14 inches deep' (The Geashill Cauldron)
Page 11: 'Ancient keg of butter found 12ft below surface of Red Bog. 2 feet long x 13 inches broad.'

First full report submitted by the Trenchs to Lord Digby. Contains a detailed examination of the 'compensation fund' granted by George Wingfield Digby to the leaseholders to indemnify them for the loss of their several leases, which had been illegally granted to them by the previous earl and which the current earl would like to break. Also includes a memorandum describing in great detail, the meeting between Trench and the leaseholders, to discuss the terms of the compensation. Also includes report on the 'mesne' or first-year rates with a full list of the tenants. Also includes 'sundry observations' on the management of the estate 'during the difficult & trying period of our first year of office.' Describes how the 'tenants-at-will' were invited to settle arrears and there was 'a vast amount of dissatisfaction amongst the tenantry.' W. S. Trench describes the discovery of an assassination plot to murder one or other of the Trenchs is underfoot, leading T. W. Trench to travel over the estate accompanied by a policeman and the estate bailiff, with a loaded gun in his hand. Also discusses the commencement of the construction of new labourers cottages; the building of a new estate office adjoining the church; the drainage of the bogs; and a report on emigration from the estate.