?
46
Government, Grand
I
need scarcely say that
I refused to entertain it. having certainly authority, and not being likely to obtain authority, to refund three years' rent already paid into the Treasury and grant 8 per cent interest for money
which had thus become
the property of Government merely to reimburse men
who, with their eyes open,
had entered into a speculation which had turned out unprofitable.
14
At the same time there could be no doubt that it was not to the advantage of the Colony to leave the question where it was.
The condition of the lots sold
Enclosure 7.2.... Colonial Secretary to G. Sharp Esq 10 June, 1867.
considered it wiser to exercise a little timely forbearance, such as might encourage the tenants to proceed with the reclamation of their lots and prevent the property of the Colony at Kowloon being unduly depreciated for a lengthened period.
15. After much correspondence therefore I finally agreed so far as the Marine Lots were concerned to accept 1/4th of the present rental for five years from the 25th of last December, subject to your Grace's approval, and conditionally that all arrears of rent at the old rate and of sums due to the Contractor for construction of sea wall at Kowloon, and of the purchasers, were paid to qualify for the indulgence conceded, and also bound to fill up each Lot first.
M