4
N: 75.
REULIVED
11 MAR 1930
GOVERNMENT HOUSE,
OOL, OFFIOR HONGKONG, 7th February, 1930.
My Lord,
Aned
Enclosure No. 1.
2
33144
24
I have the honour to invite Your Lordship's
attention to Sir R. E. Stubbs' despatch No.251 dated 12th
June, 1924, and Mr. J. H. Thomas' despatch No.238 dated 1st
August, 1924, on the subject of a grant of an area of land
on Stanley Peninsula for the re-erection of St. Stephen's
College.
2.
The subsequent general financial stringency
arising out of the strike and boycott in 1925 caused the
question to be deferred and, when it was again approached,
the Council of the College found itself unable to raise the
sum of $500,000 stipulated in paragraph 2 of Mr. Thoma s '
despatch. It was, therefore, decided by the Governor in
Council that the proposed terms should be modified and that
a building lease of seventy-five years, renewable, should
be granted only in respect of Rural Building Lot No.514
(shewn edged red on plan enclosed), subject to a rental of
$20.00 per annum and a building covenant of $200,000 to be
completed within three years. The remainder of the area
originally suggested was granted as a garden lot on a 21
years' lease at a rental of $24 per annum, but with a right
THE RIGHT HONOURABLE
LORD PASSFIELD,
&c.,
&C.,
&c.
of