error on one point by the illustrious example of Sir Sidney Caine. The sentence in paragraph 1 of our present draft about "creating a precedent likely to be invoked when the question of the renewal of the 99-year leases and the 75-year leases comes up" is based on the sentence in paragraph 3 of (2), which in turn is based apparently on the last paragraph of Mr. Butters' minute of 18/3. Both Mr. Butters and Sir Sidney dealt with the questions while in Hong Kong and what they say about it therefore deserves particular attention. Unfortunately neither is now available in the Office, because I cannot find anything anywhere on these files which suggests that there is a class of 99-year leases in Hong Kong and also because holders of 75-year renewable leases appear to be entitled to have their premium calculated on the undeveloped value of the land as is being now agreed as a concession for the 75-year non-renewable leases; the concession now being given can therefore hardly be a dangerous precedent as such for the 75-year Ho-renewable leases. (The fact, however, that any concession is being given to one class of lease might of course be used as a precedent for demanding concessions in respect of other classes of lease). As regards the "99-year" leases, this can hardly be a slip for "999-year", since it is a little academic to be considering now the effect of precedent on these when they should come up for renewal and, though 99-year leases were discussed in 1898 in that 99 years was laid down as the very maximum which the Secretary of State would be prepared to consider, the decision seems to have been in favour of the 75-year renewable lease. I suggest that we avoid these various difficulties by re-drafting the doubtful sentence as shown.
4. Mr. Sidebotham also asked for the file to be resubmitted through Legal Advisers if any legal point was involved. There was none when Sir Sidney Abrahams saw on 10/5 and nothing new has been introduced since. I have not therefore bothered Sir Sidney.
5. I do however re-submit through Finance Department since the point dealt with in paragraph 2 above is an important financial one. The action proposed is, I think, covered by Mr. Bourdillon's initials in the margin of my minute of 22/10.
·Yes
यत
11 TB 2/11
1.11.48.
Bry will.
Jagre aramended
2/4
17