}

the reesent arrangement. It is Jobable

1.

that Peak fitis will continan to unclease in value.

2. That any valuation actived at now would in a

few year

be below the real takin

al

3. that of concenation to the This direction

made ai

Peak Lease. holders scincila applications which it will be difficult to refure will

others holding

comed

Arwen Leases-

Ibodat

If then, as I think curtain

Lee in then properties rise father value I do not see why the forcement thould rise benefit

The 'un-ramed incensent";

It is right that. The faren :ment in its capacity

calamity of landlord. Kould be essentially a good

400

there is any doubt, a fluerons Rand lords, but Bane Jeofle are inclined to thank has the adherence to ordinary business rules which they would accept

He

of

as a matte

use in an individual

conese

o ought not to be macistained by the State- I also think that in a Ilave like Hory kong it is the more deniable

Placem

on for

kory

The foven halut to! forenamabut retain the land move

closely in it's hands than if les on by leases of 999 years.

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