COPY
sir,
ENCLOSURE 2
317
20014
P
Med C NOV 18!
Hong-Kong, 8th. August, 1898.
In reply to your letter of 5th. instant regard-
ing the proposed alteration in the period for which the Crown
should grant leases of land in this Colony, it is our opinion
that to change the period from 999 years to 75 years, will at
once stop the demand for leasing Crown Lands altogether, or will cause the reduction of premia to a point that will cause considerable loss to the Colony.
It appears to us to be the interest of the
Government to encourage the Leaseholder of Crown Land to im- prove the property in every way as the revenue at once bene- fits by the increased assessment. If the period, the lease is held, should be reduced to only 75 years, we think it bound to affect adversely the development of the land by the lease- holder and consequently the assessment.
As regards the provision to be made for guard- ing tenants' interest at the expiration of leases, we consi- der all claims for improvements by leaseholder, should be paid in a liberal manner and any dispute, referred to arbitrators, The Hon. R.Ormsby,
Director of Public Works.
appointed