REPORT FROM THE LAND COMMISSION OF 1886-87.
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"The titles will be delivered on payment of the rent, and the minimum value of the buildings to be erected on the lots, and the period allowed for erection, will also be then declared.
Macao, 7th June, 1841."
(Signed),
CHARLES ELLIOT, Chief Superintendent,
charged with the Government of Hongkong.
The sale advertised for the 12th was postponed to the 14th June, 1841, when it had been found impossible to put up the number of lots (200) as advertised in the Government Advertisement of the 7th of that month, and only 50 lots having a sea frontage of 100 feet each, or nearly so, were offered for sale, and it will be observed, from the following copy of the terms of that sale, that not only was the frontage not defined, but the depth from the sea to the road (the present Queen's Road), was stated to necessarily vary considerably, and that the parties, (intending purchasers), would have the opportunity of observing the extent for themselves.
TERMS OF SALE ON 14TH JUNE, 1841.
"1. Upon a careful examination of the ground, it has been found impossible to put up the number of lots named in the Government Advertisement of the 7th instant, and only 50 lots, having a sea frontage of 100 feet each, can at present be offered for sale. These lots will all be on the seaward side of the road. Lots on the land side of it, and hill and suburban lots in general, it will yet require some time to mark out.
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"2. Each lot will have a sea frontage of 100 feet, nearly. The depth from the sea to the road will necessarily vary considerably. The actual extent of each lot as nearly as it has been possible to ascertain it will be declared on the ground. And parties will also have the opportunity of observing the extent for themselves.
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. The biddings are to be for annual rate of quit rent, and shall be made in pounds sterling, the dollar in all payments to be computed at the rate of 4s. 4d. The upset price will be £10 for each lot, the biddings to advance by 10s.
"
4. Each lot having been knocked down to the highest bidder, he will receive an acknowledgment that he is the purchaser of the lot; and this acknowledgment will be exchanged for a more formal title, as soon as the precise measurement and registration of the lots shall be completed.
5. Upon delivery of the titles, the purchasers will be called on to pay the rent for the first year reckoning from the date of sale.
6. They will also be required to erect upon each lot a building of the appraised value of $1,000 or to incur upon the land an outlay to that amount, within a period of six months from the date of sale. As security for the performance of this engagement a deposit of $500 shall be paid into the hands of the Treasurer to the Superintendents within one week from the day of sale, the deposit repayable as soon as an equal amount shall have been expended. Non-compliance with these terms will incur forfeiture of the deposit and allotment.
(Signed), J. ROBERT MORRISON,
**
Acting Secretary and Treasurer to the
Superintendents of Trade.”
Sir CHARLES ELLIOT's object respecting the disposition of the Crown Lands, pending the pleasure of Her Majesty's Government, appears in a letter addressed by him, immediately after the first land sale, to Messrs. JARDINE, MATHESON & Co. and Messrs. DENT & Co., as follows :—
"MACAO, 17th June, 1841.
"GENTLEMEN,--Having had under my consideration the particulars of the first sale of lots in Hongkong on the 14th instant, I am of opinion that I shall be consulting the best interests of the establishment in making immediate public declaration of my purpose to move Her Majesty's Govern- ment, either to pass the lands in fee simple for one or two years purchase at the late rates, or to charge them in future at no more than a nominal quit rent, if that tenure continue to obtain.
"My own object respecting the disposal of lands, pending the pleasure of Her Majesty's Govern- ment, was, to secure to firms and all other persons, British and Foreigners, having permanent interests in the country, sufficient space for their necessities, at moderate rates, with as little competition as might enable parties to accommodate emselves according to their respective wants.