(2/48) [16] Wt. 19126/754 50m. 7/48 C.N.Ld. 748
C. O.
Mr. M. I. J. Wallace 22/10
Mr. Palmer
26/10
Bourdillon
Mr.
27/10
Sidebotham
Mr..
12/11/almer
Mr..
DRAFT. SAVINGRAL
GOVERNOR
:ONG KONG
54051/48
75.
Permt. U.S. of S.
C. D.
R. 3- NOV D. 4
Parly. U.S. S.
Minister of State
Secretary of State
Your Reference........
See (1) on 'ug 4.XI.48
CONFIDENTIAL 1113
Your despatch No. 218 of the
(7)
9th September 1948.
Renewal terms
23
FURTHER ACTION.
(2)
for holders of certain Crown leases.
1. As stated in paragraph 3 of my
telegram No. 542 I am of the opinion that
premiums should take into account the
developed value of the land, but for the
reasons you give I am prepared to agree to the concession you propose of
calculating premiums on the undeveloped
value of the land, though I must again
stress the danger that the fact that such
a considerable concession has been granted
in the case of these 75-year non-renewable
leases may be invoked as a ground for
concessions when other types of lease
fall for renewal. I would urge therefore
that every opportunity be taken of
underlining the special nature of the
present concession
i.e. that it arises
from special circumstances following on the
war.
2. Do not the last two lines of the
re-draft of paragraph 4 of the public
announcement as contained in paragraph 1
of your despatch under reference refer
rather