Add
4.-We say that our said Report is a true and correct Stater and figures therein given and set forth to the best of ou formation and belief.
And we severally make this solemn Declaration conscient the same to be true by virtue of the provisions of Declarations Act, 1835.'
SEVERALLY DECLARED by the said
ROBERT KENNAWAY Leigh & JAMES ORANGE at
the Supreme Court House Victoria in Hongkong
this Seventeenth day of February 1899.
Before me.
(Signed) R. K. LEIG
(Signed) J. ORANGI
The Unpre
L. S.
Court
(Signed) A. SETH,
Acting Registrar of the Supreme Court of Hongkong, and a Commissioner to Administer Oaths.
in, Esq.,
3-
No. 7.
264
"A"
Hongkong, December 28th, 1998.
Paragraph
accordance with your instructions we have gone very carefully into the question of the value of Petition 184 first as a Marine Lot in 1895 before any interruption of your Godown business by the No. 3. Reclamation Works and second as to the value to-day as an Inland Lot.
he lot is held from the Crown under a lease dated 18th September, 1884 for the term of 999 the 25th June 1861, and is therefore practically a freeliold subject only to the usual Crown
round tax.
is situated on the old Praya West and contains an area of 32,481 square feet and had a sea 100 feet. The whole area is covered with substantial two-storied Godowns (Warehouses),
d floor being built of granite, the first floor of brick and the roof tiled.
hese Godowns were built in 1886 and are to-day in a first rate state of repair.
e net storage capacity of these Godowns after making allowance for walls, passage-ways, pillars, 1000 tons.
he Wharf in front of the Lot was removed by Government in 1895 and since that date the lamation Works have been proceeded with and the land in front is being reclaimed for a of 260 feet thas converting the area into an Inland Lot in a back strect.
We have valued the property as it was in 1895 as a Marine Lot in three different ways and have busiderable trouble to ascertain what is the real value to-day as an Inland Lot.
The following are our Valuations.
VALUATION No. 1.
MARINE LOT 184.
is a Marine Lot in 1895 before the commencement of Praya Reclamation Works.
Area 32,481 square feet at $5 per foot
Buildings value
Add 10 per cent. for enmpulsory purchase...................
Total.......
$162,405.00
55,600.00 21,800.00
.$229,805,00
The above price per foot, we consider was about the value of land in the neighbourhood at the time.
VALUATION No. 2.
MARINE LOT 184.
a Marine Lot in 1895 before the commencement of Praya Reclamation.
Net capacity of Godowns for Cargo, 15,000 tons at 10 cents
per ton per month
Crown Rent.....
Rates
Fire Insurance..
Repairs
Wages
per annum.
$18,000.00
DEDUCTIONS.
.8 249.00
858.00
^5.75
150.00
1,200.00
$2,552.75
2,552.75
Net income
$15,447.25
Say...... 15,450,00
Capitalised at 6 per cent.-16 years purchase ................ Add 10 per cent, compulsory purchase
$257,500.00 25,750.00
Total..
$283,250.00
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