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value of property, notwithstanding all that has been often said to the contrary
The history of the small portion of the Central School site sold for $49,550 is peculiar, £10399.18.0 now sold be of some and interest as showing how great have been the changes in this Colony. In its early days Crown lots were not sold for a premium but were knocked down to the bidder of the highest Crown Rental; and the Bamboo Garden lot one acre in extent having been resumed afterward purchased by Sir George Bonham for the year's Crown Rent of £4.9 paid to the holder.
The intention with which the purchase was made not, however, carried out as the cost of levelling the site for a playground for the School estimated at $25,000. This the present purchasers propose to proceed at once with an additional outlay of $250,000 for a retaining wall, and this with its purchase money the rocky lot of one acre, which was sold in 1853 for an annual rental of £4.9, will before any building has been commenced,