NOTES AND QUERIES
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Dealings in land and property were a major enterprise in early Hong Kong. An insight into the hazards of real estate speculation is given by George Duddell's testimony before the Land Committee in 1849. He speaks about his purchase of a lot at the south-west corner of Queen's Road West and Possession Street. As we walk along Fat Hing Street we shall be passing the south side of the lot. Duddell states regarding the purchase of the lots in 1844:
The lot was bought after unprecedented bidding for two hundred per cent on the original upset rental. The circumstances in palliation of my buying it at such a price are, the lot was airy and perfectly level with one rock only to clear it off before building could be commenced, combined with a great demand for houses, and the facility the lot offered to speedily erect them, with the fact I was outbid on all other lots the same day. The buildings were built and tenanted, but within a year they had left for other houses. These houses were void, vagrants plundering even from doors and glass from windows, every grate was stolen. I must hire a private watchman to protect useless property
The buildings were much damaged by the typhoon of 1848. In November of 1848, I surrendered them to Government. In consequence of requiring a Sailor's Home, I have by petition obtained back the lot, repaired the buildings and put my seamen into it.
The premises were known as the Circular Buildings. Duddell again surrendered them to the Government in 1850. Not long after, the land was resold to Quoke Acheong, the Compradore of the P. & O. Steam Navigation Company. He was a large land owner in this area. On this property and a section he had purchased across Queen's Road, he developed his own business enterprises under the firm name of Fat Hing. The firm gave its name to the lane south of Queen's Road off Possession Street.
Upon the elevated promontory called West Point, Joseph Frost Edgar built a bungalow. In March, 1843, he was admitted as the resident partner of the firm Jamieson, How and Company. He was one of the first two unofficial members of the Legislative Council, serving from 1850 to 1857. An advertisement for the rent or sale of the West Point Bungalow, dated July 19, 1845 (Friend of China), provides a description of one of the early residences in Hong Kong:
A substantial house consisting of two sitting rooms each 30 by 20 feet and in height 17 feet, separated by folding doors, five