which is equal to a rate of $8.37 per square foot. Therefore, the Government pays for these 16,000 square feet the sum $6,257 (the difference between $345,787 and $339,530), besides giving up another 6,000 square feet. Or, to put it in another way, it pays only $6.257 for 10,000 square feet, the difference between 16,000 and 6,000 square feet. These 10,000 square feet at $7, the price paid to the Peninsular and Oriental Steam Navigation Company, would be worth $70,000, and at $8.37, the price paid to Government by Mr Chater, they would be worth $83,700.
It will no doubt be asked why Mr Chater can find it in his interest to buy from Government a portion of this ground at a rate much higher than that which Government has paid. The reason is that the Government has undertaken to open streets on the Western and
which is equal to a rate of- #8.37-per square foot. Therefore, the Government pays for these 16000 square feet the sum $6,257 (the difference between -
of
$345,787 and $339,530), besides
up 6000
giving up
another locality,
in another way,
the sum
square feet.
in
or, to put it
way, it pays only
of $6.257 for 10,000 square -feet, the difference between
16,000 and 6000 square feet. These 10,000 square feet at #7, the price
paid
to the Peninsular and -
Oriental
489
Oriental Steam Navigation Company
would be worth $70,000, and at
$8.37, the price paid to Government by Mr Chater,
they would be worth $83.700
6!
asked
why
It
will no
doubt be
find
WW.Chater can
it his interest to buy from
Government a portion of
this
ground at a rate much higher than that which Government has paid.
paid. The Government has undertaken to
reason is that
open streets on the Western and
9
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