487
As the site of the proposed new office was to be formed partly by reclamation in front of the present site of the Peninsular and Oriental Steam Navigation Company, it was necessary to come to some arrangement with that Company in regard to the land to be reclaimed and the removal of their present office. The Company agreed to give up their present site in exchange for a new site to be reclaimed in front of it, together with a strip of land adjoining the site of Messrs. Jardine, Matheson & Co.'s new building and a portion of the site of Messrs. Crosby's store. The area of land to be paid for by Government was therefore reduced to 50,541 square feet.
The Peninsular and Oriental Steam Navigation Company further stipulated that they should be allowed to remove the materials of their present office to the new site, for which concession they have agreed to pay $8,000. The amount to be paid by Government in cash was thus reduced to $345,787, of which it is agreed that Government is to pay $175,787 as soon as the deeds have been executed, and the balance of $170,000 in three years' time.
4. The portion of this land which is required for the extension of the Central Market is about 16,000 square feet and the remaining 40,541 square feet have been sold by Government to the Honourable G. P. Chater for the sum of $339,530, which
487
As
of
Crosby's store. The area land to be paid for by Government was therefore reduced to 50,541 square feet
The Peninsular
at #7. #353,787. and Oriental Steam Navigation Company further stipulated that they should be allowed to remove the materials of their present office to the new site,
fox
which concession:
they
have agreed to pay $8,000. The amount to be paid by Government in eash was
thus
thus reduced to #345.787, of which
it is
to
agreed that Government is
pay #175,787 as soon as the _ deeds have been executed, and the balance of $170,000 in three
years time.
4.
The portion of this land which is required for the extension of the Central Market
about
is, 16000 square feet and the remaining 40,541 square feet
have been sold by Government to the Honourable 6. P. Chater for
the sum
of $339,530, which
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