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I attach a Statement "B" showing the nett income as returned by Mr. Howard and the further deductions which, in my opinion, should be made. Certain small charges for repairs to the pier I have omitted from the statement, as the pier was emorved in 1895 and compensation has already been paid for it.
Law charges in connection with the case I have also excluded.
As regards the questions asked by the Colonial Secretary in his Minute of 4th July, 1898—
(1.) Yes, $270 per mensem.
(2.) A Statement marked "C" of the present wages paid is attached. The higher wages paid in the earlier years, Mr. Howard accounts for by his son having been employed, all the present employees are natives.
The Compradore who draws on $20 a month is said by Mr. Howard to have a large private business of his own.
(3.) The rates of Storage have not been altered for at least 8 years.
(4.) See Statements "A" and "B."
(5.) This information is not easily obtainable. Mr. Howard states that there have often been times when the Godowns were quite full. When I was there on the 9th instant they were more than half full.
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Mr. Howard pointed out that the first complete year that the Godowns were in working order was 1887 and that the receipts fell off soon after the pier was removed. I do not know the exact date of the removal of the pier, but I attach a Statement D" of the monthly gross rentals for the years 1894 to 1897 inclusive.
The Director of Public Works in his Minute of 27th May, 1898, points out that the land sold in 1884 for $65,000 and Mr. Howard informed me that the Godowns cost $36,000, so that the total cost of the property would appear to have been $101,000.
The New Godowns on the Praya Extension I should think are responsible for a certain amount of the falling off in rents.
Hongkong, 11th July, 1898.
(Sd.) HILGROVE C. NICOLLE.
A further Statement E" showing the agreement between the gross rentals and the cash receipts is attached.
(Sd.) H. C. N.