284
We
propose
therefore that in consideration of the owners of Kowloon Farm Lot 1 allowing the Government to make the roads through the property shown on the plan accompanying your letter No. 517 of 8th November, 1895, and in consideration of the owners paying Crown rent at the rate of $100 an acre in such manner as hereinafter described the Government shall remove the covenants of the Farm Lot lease relating to buildings and dwelling houses and allow the owners to build.
It is proposed to divide up the property into ten lots, the owners to pay Crown rent on bach lot built or partially built upon and to expend a sum of Twenty thousand dollars ($20,000) within five years in rateable improvements.
The Honourable F. A. COOPER,
Director of Public Works.
$c.,
&c.
We have the honour to be,
Sir,
Your most obedient Servants,
JOHN D. HUMPHREYS & SON,
C
DIRECTOR OF PUBLIC WORKS TO JOHN D. HUMPHREYS & SON.
GENTLEMEN,
PUBLIC WORKS OFFICE, HONGKONG, 10th September, 1896.
I have the honour to acknowledge the receipt of your letter of the 2nd instant referring to Kowloon Farm Lot No. 1, and am directed to informa
you that His Excellency the Governor regrets that he is unable to accept the proposals contained therein.
I am to point out that :---
(a) Your proposals involve the adoption of an arrangement which would practically amount to the grant of a building lease for 999 years, whereas such leases at Kowloon are only grunted for 75 years.
(b) Your proposals do not provide for the surrender to the Government of the land necessary for the several streets and lanes required.
Messrs. J. D. HUMPHREYS & SON.
I have the honour to be,
Gentlemen,
Your obedient servant,
FRANCIS A. COOPER,
Director of Public Works.
D
E. R. BELILIOS AND JOHN D. HUMPHREYS TO DIRECTOR OF PUBLIC WORKS.
SIR,
HONGKONG, 27th October, 1896.
With reference to the proposals contained in your letter No. 517 dated 6th November, 1895, and subsequent correspondence on the subject of Kowloon Farin Lot 1, we beg leave to lay before you in as concise a manner as we can our position with regard to this lot, which as you know was on 25th December, 1865, demised by Her Majesty unto oue Tang Ting Sham for the term of 999 years, subject only to the payment of a nominal annual Crown rent of $29.25.
Full
On the fourth day of October, 1859, wo purchased from Mr. D. Noronha and others the whole of the said Kowloon Farm Lot 1, measuring in all six acres and two roods for the sum of sixty thousand dollars, forty thousand of which was paid in cash and twenty thousand secured under a deed of charge of the same date.
Under the terms of this deed the vendors receive no interest for the above mentioned sum of twenty thousand dollars and can only claim to be paid off in the event of our selling the property,
Meanwhile, although it costs us very little in the shape of Crown rent and nothing for interest to hold the property, this inenbus precludes all possibility We cannot while it exists surrender to the of our selling or dealing with it. Government and this is necessary before buildings can be erected and very urgently needed roads niade. We can, however, afford to hold it for an indefinite period on speculation, but in order not to be designated obstructionists to the contemplated improvements by the Government, we are prepared to treat with the vendors for the surrender of their rights under the deed of charge (which we believe they are willing to sell for $7,500) provided the Government grant us a building lease for 999 years. Given a lease for that period we are prepared to accept all the other conditions contained in your letter of 6th November, last, viz., to pay an annual Crown rent of $100 per acre (equal to over $600 per annum in lieu of $39.25 now paid) and to expend $20,000 within five years on rateable improvements. At present our lot, situated as it is between Mongkok and Yau-ma-ti, is the chief obstacle to the fusion of these two suburbs into one, and we venture to think that their amalgamation would prove of immense benefit to the Government and a source of considerable increase of No doubt the property with proper roads running through it and split up into small building lots, similar to those put up to public auction by the Government, would realize in the near future a sum exceeding the aforesaid sixty thousand dollars, and if the Government would prefer instead of granting us a 999 years lease to purchase the property for forty thousand dollars plus interest at five per cent. per annum from 4th October, 1889, and plus $7,500, the cost of purchasing the deed of charge, we on our part would be prepared to transfor and make over the property to the Government free from all encumbrances.
revenue.
Unless one or other of these proposals is agreeable to the Government we have no option but to lease the property to Chinese farmers for a term of years at low rentals. We need not point out to you that this would mean a large loss to the Government in rates and Crown rents.
11F-wiBaཙྩ