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Waste land, on almost inaccessible hill
sides above Quarry Bay, 4 miles from the City, has lately been sold at public auction for 9 cents and 3 cents per square foot.
I therefore consider 10 cents a foot a fair
valuation for this land, and the rent usual is all such cases is $250 par acre.
On this basis I value this land as follows:- 363,359 square feet at 10 cents ..X.............. $38,835.90
3.13 Acras at $250 an aore, capitalized for 25 years....
39,250.00
Fotal....... 634,935.90
(84.) R.D.Ornsby,
D. P. A.
3.2.01.