CO129-285 - Acting Governor Major Gen Black - 1898 [9-10] — Page 349

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ENCLOSURE 1

Reo C NOV DE

HKong General Chamber of Commerce.

Hong-Kong, 22nd. September, 1898.

It having come to the knowledge of the Commit-

tee of this Chamber that the Government, acting under instruc-

tions from the Secretary of State for the Colonies, have re-

duced the period for which the leases of Crown Lands are grant-

ed, viz., from 999 years to 75 or 99 years at the utmost, they

respectfully beg to lay their views on this important subject

before His Excellency the Officer Administering the Government.

The Crown Leases in the city of Victoria and

its suburbs were originally granted for 75 years only; but

this short term not proving satisfactory, in March, 1849, upon

the recommendation of a Committee of the House of Commons, an

extension of 924 years was granted to the holders of then

existing leases, and the term fixed at 999 years for the future

which was adhered to without exception until within the last

two months. Several lots on the Resumed Area in Taipingshan were

then sold on a lease of 75 years, but the premium demanded

had to be reduced to half the amount which could have been

obtained had a longer period been granted.

To Hon. T. Sercombe Smith,

In

Acting Colonial Secretary.