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consider them conducive to the good of the purchasers themselves and therefore not so unpalatable as to seriously depreciate the value of waterside lots at the proposed auctions; that this opinion is sincere. I have practical proof in the offer of one firm alone (Messrs. Jardine, Matheson & Co., and another firm, possibly referring to "wo Hang") who express their intention to "purchase a very large proportion of the best sea frontages under the condition specified.
7. In order to render a lucrative return certain in this matter, the Government will have to invest a sum of $6000 in the construction of the necessary roads and jetties. My experience tells me that this temporary disbursement will be far more than recouped by the increased value which the roads will give the lots. I have no hesitation in recommending the outlay to the favourable consideration of His Excellency. Indeed, in the case of Lap-Sap Wan, some land approach from Victoria to the new township will be the very first essential; the only convenient way of access at present is by sampan, a drawback so serious as to signify at once a loss of 50 per cent on the values which might otherwise be obtained.
8. It is impossible to say what aggregate sum the sale of these lands may fetch; it certainly will not be...