F
49
approval the draft or a lease of the premises shown on the
plan attached to it. I shall be obliged if the draft can
be returned to me when done with.
4.
In addition to agreeing to the
conditions contained in the draft lease, the Royal Hongkong
Yacht Club have undertaken to build a new hut to take the
16992/5/3
ends of the cables that cross the harbour and to defray
the cost of moving the shore ends of those cables which
will be rendered necessary by the occupation by the Yacht
Club of the proposed site.
5.
For purposes of comparison with
the area and value of the original site reported in para-
-graph 4 of Sir Henry Blake's Despatch No. 185 of the 8th.
of April, 1903, I may state that the area of the present
site is 53,800 Square Feet and its value $27,614.82 ar-
-rived at in the following manner:-
Area coloured pink on plan.
Area 24,750 Square Feet:
Premium 45 cents a Square
Foot..... Crown Rent at $450 per acre
at 25 years purchase, • • • • Total.....
Areas coloured green and blue.
Areas 29,050 Square Feet.
Premium at 35 cents a Square
Foot...... Crown Rent at $600 per acre
at 25 years purchase.
Total.....
.$11,137.50
6,392.00
$17,529.50
.$10,167.50
10.003.15 .$20,170.65.
but