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A-I know what the ground rent is; I take Fire Insurance and other charges at the usual rates.
Q-You allow nothing for expenses of management ?
A-I did not know whether there were any.
Q-You mean because Mr. Howard looked after the business himself?
A-I believe that he did so.
Q-Would that be the reason why you did not deduct expenses of ment ?
A-I do not think I should have made any deduction of that sort.
manager
Q-I see you say that "I place the value of Marine Lot 184 in the year 1899 at $187,000 in which calculation I have not taken into consideration any claim that it might be considered that the owners have for compensation for the condi- tions under which they had eventually to dispose of their property, and which amounted practically to a forced sale." You know, Mr. Ram, that they did sell for $110,000?
A-Yes.
Q-I understand in your opinion that that amounted practically to a forced sale ?
A-I take it that the property was sold under the apprehension that the value of the Godown would be depreciated and that the owners would have to take that amount.
Q-You mean that the property was sold under the apprehension that after the Reclamation the Lot would be useless for the purpose of Godowns?
A-Yes.
Q-You know that the property afterwards sold at a good deal higher than $110,000 ?
A-Yes.
Q-It was sold a year or so afterwards for $146,000 ?
A-I think it was.
Q-Well, don't you think that $146,000 would represent probably, what we might call, nearer the real value than $110,000 ?
A-Yes.
Q-It was sold 15 months after; that would be the beginning of 1901 ?
A--In the end of 1900 or the beginning of 1901. It was sold for $146,000. Q-You say that would be more near the value of the property than $110,000?
A-More near the value placed by me on the property; my value was $187,000.
Q-You say that it was sold under the apprehension that it would not be very valuable for Godowns in future?
A-Yes; I think so.
Re-examination by Mr. Calthrop, on behalf of the Claimants:—
Q-Mr. Ram, you valued the property at $189,000 (which is nearly $190,000) as a Marine Lot in your first valuation?