16
its renewal on similar terms to those to be
granted to holders of 75 year renewable
leases under the terms of Mr. Joseph
Chamberlain's despatch No.132 of the 23rd of
Lecord
May, 1898. ad Accordingly, that the Government
of Hong Kong is fully within its legal rights
in demanding payment of a premium as well as
an increased Crown rent for the renewal of the
former leases.
3.
At the same time, I share your
opinion, as stated in paragraph 5 of Mr. Smith's
despatch, that the claim of a tenant, who has faithfully
dischayne his contrac ct duty to favourable treatment
should not be disregarded; and I
do not think
that the Government should insist on th
dorians
strict legal right:
kin reversionary interest,
in the case of a tenant who hasti
the conditions
of his lease.
ond
* fulfilled
in respect of the
The question
4.
Cousiduatio
fraur
On the
therefore, to de
tolâ ecided is the forme
reversionary interest of the Government
revers
posk a175
of a 75 year lease.
It is
clear from the report of the Special Committee of the
General Committee of the Chamber of Commerce, that
the greater part of the tenants concerned would have the
strongest objection to the payment of a premium as
such.
I note, however, from Mr. Butters memorandum
enclosed
and extent of the