4
VALUATION No. 3.
MARINE LOT 184.
As a Marine Lot in 1895 before the commencement of Praya Reclaration.
Gross rentals received for the year ending 1895............................................
$18,276,31
C.C
SC02
265
Crown Rent.........
Rates
Fire Insurance.
Repairs
Wages......
Charges .....
DEDUCTIONS.
$ 249.00
858.00
93.75
Capitalised at 6 per cent.-168 years purchase
Add 10 per cent, compulsory purchase
197.21
1,200.00
269.46
$2,869.42
Net income
***
ENCLOSURE 2.
FeeD &
Rear 10 APR 19
COPY
2,869.42
$15,406.83 Say...... 15,400,00
$250,608.06 25,666.00
The Officer Administering the Government's
award on Mr.Howard's claim for compensation under Ordinance
16 of 1889, section 7, sub-section 6.
Total...........$282.382.00
VALUATION No. 4.
I.
MARINE LOT 184.
Value as an Inland Lot now.
Area 32,481 square feet at $2.50 per foot Estimated value of old materials in Godowns
$81,202.00 5,000,00
$86,202.00
1st. Mr.Howard paid $65,000 for land
$36,000 for buildings.
$101,000
Total
Total......Say 86,000.00
The above gives our valuation of the property at the present time and we would pos
the Lot for Godown purposes has been completely ruined owing to the works of the Proj
II.
and that being situated so far West and out of the Chinese residential districts we are of opf would be many years before the property would pay to convert into Chinese houses and shdowns were
SUMMARY.
It will be seen from Valuations 2 & 8 that the land of this particular Lot with the Gode was worth more than the $5 per square foot given in our Valuation 1 (this value being ne of land in the neighbou.hood in 1895) and we are therefore of opinion that this property $282,000.00 in 1895.
inished in
gt/86 & bu- Iness began it once.
III.
The business may be said to have begun in 1887
in this year the nett income was $8,617.00
Mr.Howard now claims $200,000 from the Govern-
ment for his godown and site.
The above is the report marked A referred to in the Statutory Declaration of RoBERT KENNAWAY LEIGH and JAMES ORANGE. Declared before me by the said ROBERT KENNAWAY LEIGH and JAMES
ORANGE this 17th day of February, 1899.
(Signed) A. SETH,
Acting Registrar and a Commissioner, &c.
Yours faithfully,
LEIGH & ORANGE,
M. M. Ing
IV.
V.
From an inspection of Mr.Howard's hooks by the
Govt. Auditor in July, 1898, the average annual nett income
from the godown business, &c. from 1887 to 1897 inclusive
was $9,365.00.
The business in 1887 brought in a nett income
of $8,617.00 on an expenditure of $101,000.00. If the same
ratio be observed the average nett income of $9,365.00 would represent an expenditure of $110,000.00 roughly. Mr.Ho-
ward bases his claim (1) on the silting of the foreshore
due to the reclamation, (2) on the reclamation converting
his
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