pro major Hatte Hunger 2.1.0.
hain
HONG KONG
Morgan
Just prior to the War, an agreement was arrived
4
581
at between Messra, Denrys & Bowley, Solicitors, Hong Kong,
aoting for the Concessionaire, and the Government of Hong Kong, which provided for the construction of a short tramway
about 3 miles in length to connect the City of Victoria with the
south side of the Island, which was then practically
inaccessible, and, in addition, the agrement gave the
Concessionaire the right to take up at any time within 25
years about 550 sores of Crown Land on the south side of the
Island for building purposes, at a premium of $250 per acre
and a Crown rent of $30 per acre.
The scheme is a very important one for Hong Kong
in view of the fact that the City of Vistoria is much overɑrowded
and that there are practically no Building sites available.
By means of the tramway the most desirable part of Hong Kong
will be immediately opened up for building.
Owing to the War the agreement was not completed, but
the Concessionaire, Mr. E. T. Williams, who had bạm in
Hong Kong for some six years,
Dhanbadulnaker, took the matter up with the Colonial Offios
with a view of getting a satisfactory agrement completed having
regard to the abnormal conditions which had arisen.
Finally, on the 2mi October, 1919, the Colonial Secretary
intimated that the Governmen would be prepared to complete the
agrement, provided the Promoters could, on or before the
31st December, 1919, satisfy the Government of their ability
to construct a tramway and to finance the scheme generally, and
that it would be necessary for the promoters to deposit on the
signing of the agreement security to the extent of 50,000.
This gave the Promoters three months to deal with the
finance of the Development soheme, and whilst financial
friends of the Concessionaire were mich interested in the
proposition, thy were unabba, with the limited time before
them, to deal with it.