wka oll.rad har det pe what sets woke
IX.
X.
XI,
267
It seems probable that Howard nglonger pushes
his business with the same vigour as before and it is obvious
that the worse he makes his income the more he hopes to gain
from Government. It appears that in the record years 1894 and
1895 he stimulated his compradore to zeal and diligence by
giving him a share of the profits when they exceeded a certain
sum, his partner objected to this which may in some measure
account for the drop in the succeeding years.
After duly considering the documents put for-
ward by Mr.Howard the whole circumstances of the case, and af-
ter an inspection of the site, I approach the question of com-
pensation on the basis of the average nett income of $9,365
per annum taking also into consideration Mr.Howard's assent
to the payment of $22,500.00 in respect of his pier, heing de-
ducted from the compensation to be now paid by Government.
This nett income capitalized at 7 % gives a
result of $133,785. To this add 10% for disturbance of busi-
ness, compulsory sale, &c., and deduct $22,500.00 being the price
already paid to Mr.Howard for his pier and its rights, the re-
sult will be $124,663.00 which I find to be the amount which
Government should pay Mr.Howard for his godowns, their site, anî
all his claims in full
In order to determine the compensation on this
basis the selling value of Mr.Howard's property must be known
and this can only be determined by its bona fide sale as sug-
gested