CO129-290 - Governor Sir Blake - 1899 [1-4] — Page 271

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IX.

X.

XI,

267

It seems probable that Howard nglonger pushes

his business with the same vigour as before and it is obvious

that the worse he makes his income the more he hopes to gain

from Government. It appears that in the record years 1894 and

1895 he stimulated his compradore to zeal and diligence by

giving him a share of the profits when they exceeded a certain

sum, his partner objected to this which may in some measure

account for the drop in the succeeding years.

After duly considering the documents put for-

ward by Mr.Howard the whole circumstances of the case, and af-

ter an inspection of the site, I approach the question of com-

pensation on the basis of the average nett income of $9,365

per annum taking also into consideration Mr.Howard's assent

to the payment of $22,500.00 in respect of his pier, heing de-

ducted from the compensation to be now paid by Government.

This nett income capitalized at 7 % gives a

result of $133,785. To this add 10% for disturbance of busi-

ness, compulsory sale, &c., and deduct $22,500.00 being the price

already paid to Mr.Howard for his pier and its rights, the re-

sult will be $124,663.00 which I find to be the amount which

Government should pay Mr.Howard for his godowns, their site, anî

all his claims in full

In order to determine the compensation on this

basis the selling value of Mr.Howard's property must be known

and this can only be determined by its bona fide sale as sug-

gested