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is heavy but as soon as the new building is occupied, we can sell the site of the old college, which owing to its situation will fetch a very high price.
28. Roads. In practically all of the cases of road improvements outside the city of Victoria the result will be to open up new building sites and thus to convert what is now valueless land into property which can be readily. disposed of at a high price. Our experience in this respect in the past has been most encouraging. For instance the motor-road to the Peak was at first regarded as an extravagance and I confess that if it had not been begun before my arrival I should have opposed its construction. The result has been; however, to open up
up.
a number of sites for houses which have been eagerly taken I think that I am right in saying that the premia received have covered the whole cost of the road, I will not delay this despatch by obtaining exact figures, and at worst they have not fallen far short of it while the receipts from Crown rent on the land and assessed taxes on the houses combine to make the expenditure a very profitable investment.
114(h). Fanling to Shataukok Road. The numerous requests that have been received for permission to run a motor-omnibus service on this road show that it will be
possible to obtain a considerable sun in return for the grant of exclusive privileges, in addition to the receipts from the sales of building sites which are expected to be very profitable.
Reclamations. (Cf. Items 84, 87, 117, and 2, 4, 7, 8, and 10 of Port Works Extraordinary) are a source of great profit. In many cases the land is sold at good prices even before the work is completed, and I may say that as a result of the works connected with the Praya Reclamation we expect to receive in actual cash some 2 million dollars
in