301
not realise 25 cents par Square Foot, and as Your Excel-
-lency is aware it could not be disposed of except under
conditions which necessitate a large part of the area
being devoted to forming the slope required to rive a flat
area at a low level. In these circumstances the rate of
20 cents per Square Foot and the price of $16,340 mentioned
in paragraph 4 of my letter of the 19th. December, 1905,
seems reasonable.
3.
With regard to the provision of
a Military landing place in the neighbourhood of North
Point, accessible at all states of the tide which Your
Excellency is of opinion is a Military necessity, I attach
a tracing showing in relation to the proposed line of
reclamation the area tinted green on the map which was
forwarded with Colonel Brown's proposals of the 31st.
October, 1904, from which it will be seen that this area
will not form a landing place such as is desired. An area
which might better meet requirements is indicated in red.
4.
A basis for the valuation of this
area is furnished by the conditions of sale to Messrs.
Fenwick and Company of the last Karine Lot sold in the
neighbourhood #o, 285. In this case the promium paid was
35
IN