35
ober
in the hands of foreign firms. Any restriction as to the
area of land or wharfage to be held for such a purpose,
or the quantity of coel which might be stored would in-
-volve legislation which would operate to restrict the
free sale of land, and unless such restriction were deemed
essential to the safety of the Empire would be disadvanta-
-geous to the Colony.
14.
Assuming that His Majesty's
Government offer no objection to the present application
I submit a few observations upon the alternative proposals.
(a).
The 5 acres on the Railway Reclama-
-tion (a lease of which has already been offered verbally)
has no deep-sea frontage and the necessary wharfage must
therefore be securedby the erection of two piers at an
estimated cost of $100,000 upon which sum the applicants
are required to pay 7 per centum during the currency of the
lease, or alternatively to construct the piers themselves,
the Colonial Government taking them over at a valuation on
the expiry of the term. This heavy capital expenditure can
only be justified if there is a reasonable expectation-
that the expension of traffic on the Railway will by the
time the 10 years have expired have rendered their con-
-struction necessary in any case. Mr. Lindsey is of
opinion