CO129-244 - Governor Des Voeus Acting Governor Fleming - 1890 [1-4] — Page 499

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

Enclosure 2.

Report by the Crown Solicitor.

496

The Title Deeds of the other properties proposed to be given as Security for from $500,000 to $600,000 have now been laid before me.

The properties are the following, belonging to the Land Investment Company: -

Marine Lot 71 valued at $499,047

Marine Lot 65 valued at $175,000

and the Remaining Portion of M.L. 116 valued at $24,000

Total... $698,047

I have investigated the Title to these properties and can report that it is in order.

It is proposed that the Land Investment Company should mortgage these properties to the Hongkong Bank for one year certain for $600,000 and that the Bank should then sub-mortgage or charge the same in favour of the Government for a similar amount. The Government would thus have the security of the covenants of the Bank and of the Company as well as the property; and if the Company paid off at the expiration of the year, the Government would only re-assign or re-lease upon other sufficient security being substituted.

(Signed) A. B. Johnson,

9th April, 1890.

Crown Solicitor.

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Enclosure 2. Report by the Crown Solicitor. 496 The Title Deeds of the other properties proposed to be given as Security for from $500,000 to $600,000 have now been laid before me. The properties are the following, belonging to the Land Investment Company: - Marine Lot 71 valued at $499,047 Marine Lot 65 valued at $175,000 and the Remaining Portion of M.L. 116 valued at $24,000 Total... $698,047 I have investigated the Title to these properties and can report that it is in order. It is proposed that the Land Investment Company should mortgage these properties to the Hongkong Bank for one year certain for $600,000 and that the Bank should then sub-mortgage or charge the same in favour of the Government for a similar amount. The Government would thus have the security of the covenants of the Bank and of the Company as well as the property; and if the Company paid off at the expiration of the year, the Government would only re-assign or re-lease upon other sufficient security being substituted. (Signed) A. B. Johnson, 9th April, 1890. Crown Solicitor.

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Copy. Enclosure 2. Report by the Crown Solicitor. 496 The Title Deeds of the other properties proposed to be given as Security for from $500,000 to $600,000 have now been laid before me. The properties are the following, belonging to the Land Investment Company: - Marine Lot 71 valued at Marine Lot 65 valued at $499,047 $175,000 and the Remaining Portion of M.L. 116 valued at $ 24,000 Total. . $698,047 I have investigated the Title to these properties and can report that it is in order. It is proposed that the Land Investment Company shoula mortgage these properties to the Hongkong Bank for one year certain for $600,000 and that the Bank should then sub-mortgage or charge the same in favour of the Government for a similar amount. The Government would thus have the security of the covenants of the Bank and of the Company as well as the property; and if the Company paid off at the expiration of the year, the Government would only re-assign or re-lease upon other sufficient se- security being substitutea. (Signed) A. B. Johnson, 9th. April, 1890. Crown Solicitor.

2026-05-26 01:59:28 · Baseline

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Copy.

Enclosure 2.

Report by the Crown Solicitor.

496

The Title Deeds of the other properties

proposed to be given as Security for from $500,000 to

$600,000 have now been laid before me.

The properties are the following, belonging to the

Land Investment Company: -

Marine Lot 71 valued at

Marine Lot 65 valued at

$499,047

$175,000

and the Remaining Portion of M.L. 116 valued at $ 24,000

Total. . $698,047

I have investigated the Title to these properties and

can report that it is in order.

It is proposed that the Land Investment

Company shoula mortgage these properties to the Hongkong

Bank for one year certain for $600,000 and that the Bank

should then sub-mortgage or charge the same in favour of

the Government for a similar amount. The Government would

thus have the security of the covenants of the Bank and of

the Company as well as the property; and if the Company

paid off at the expiration of the year, the Government

would only re-assign or re-lease upon other sufficient se-

security being substitutea.

(Signed) A. B. Johnson,

9th. April, 1890.

Crown Solicitor.

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