r
closure
11th May, 1903.
2.
420
consideration the final valuation made by Mr. May based partly
on his own original valuation and partly on the separate valua-
tion made by Colonel Brown.
Mr. May forwarded his final valuation to Colonel
Brown in a letter dated the 11th. ultimo, copy of which I
enclose, and I may say at once that I consider his valuation
a fair and reasonable one and I trust that it will be accepted.
The instructions for making the valuations,
4.
contained in the enclosure to your Despatch under reference,
have been followed as closely as possible except in respect
of the large portion of the Military Reserves at Kowloon which
the Colony proposes to devote to the formation of the "King's
Park".
Under the instructions referred to this area should
have been valued as building land less a certain negligeable
value.
On that basis Colonel Brown valued the area at over
$3,000,000 while Mr. May puts the value as building land at
over $2,000,000. I do not think it would be reasonable to ask
the Colony to pay even the latter figure, or anything approach-
it
ing, for what will be, if the Park is indeed made, a public improvement by which the War Department will benefit probably
more largely than any other section of the community owing to
the vicinity to the Park of their Barracks in Kowloon.
It is true that I was consulted as stated in your
Despatch under reference concerning these exchanges. But the
proposition affecting the Military Reserves at Kowloon was that
the War Department had certain rights over certain land the
relinquishment