2.
entirely fictitiously purchased, in other words were that they were for re-sale. On 27th indeed a deposit was paid, but the parties refused, when they found they had purchased on speculation for they could not resell them to advantage, to take out Leases; and abandoned them entirely. On the remaining 22 lots no deposit was paid, nor were any Leases taken out for the same reason. Hence it appears to me that calling the rents that would have been payable on these Lots (had the purchasers fulfilled their fallacious agreement), the amount of the Rents due on these 49 Lots, viz £1,425 should be deducted from the gross Rent of £15,699. This will leave £14,974 as the highest rate of annual Rent that has really ever been derivable from the Colony.
There still remain 81 Lots to be accounted for that have reverted to the Government, and which afforded an annual rent of £2,879. Of these, five Lots yielding annual rent of £185 have been resumed by the Government for its own purposes, and this sum must be deducted from £2,879, which leaves an annual loss of £2,694 on the 76 lots. These 76 Lots were fairly and honestly purchased, and have been made use of and rent paid for them; but in consequence of the Colony not progressing in the way expected to do, the proprietors have requested permission to abandon them, preferring to relinquish them altogether to continuing to pay the present high rate of Quit rent. Should Your Lordship therefore consider that the loss sustained by the Government ought to be calculated on the 76 lots alone, and assuming the highest total amount of Quit-rent to have been £14,274, and that on these Lots be £2,694, it seems...
f
2.
entirely fictitiously purchased, in other words
were
that they -ro-sale. On 27% indeed a deposit was paid, bute the partics refused, when they found they
- purchased on speculation for
could not resell them to advantage, to take out - Leases; and abandoned them entirely. On the deposit was paid,
remaining
nor wENRES
22 lots
any
лго
Leases
taken out for the same reixson. Hence it
appears to me that calling the rents that would have been payable on these Lots,
(had the purchasers fulfilled their fallacious, the ame
agreement),
amount of the Rents dun
L
these 49 Lots,
viz
1/425 should be
deducted from the gross Rent of £15699. This will leave. £. 14,974 as the highest rate of annual Rent that has
really
derivable from the Colony.
ever
been
There
on
still remain 81 Lots to be accounted for that have reverted to the Government, and, which afforded, an annual rent of
254
an
£. 2,879 . Of these, five Lots gielding annual rent of
£. 185 have been resumed
by the Government for it's own purposes,
and this sum. must be deducted from
£. 2,879, which leaves
an annual loss
£. 2694 on the 76 lots. These 76 Lets £2694 ivere fairly
fairly and honestly purchased, and
have been made use
of and rent paid
ove
them ; but in consequence of the Colony
же
that it was
not pregressing in the way expected to do, the proprietors have
- quested permission to abandon them, preferring to relinquish them altogether to continuing to pay the present high rate of Quit rent Should. Your Lordship therefore consider that the loss sustained by the Government ought to be calculated
on.
the "ff lots alone, and assuming
the highest total amount of Quit-sent to have been £. 14274, and that rents Lots be £.2,694, it seems
ON-
the
76
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