CO129-297 - Governor Sir Blake - 1900 [1-3] — Page 294

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

292

useful to the Naval Authorities. The Colonial Government is now deriving a revenue from these quarries of $3,600 per annum, which at 25 years' purchase, gives $90,000 as the capital value to the Colonial Government without reckoning prospective value. The $3,600, I understand, represents 6 per cent of the annual value of the stone quarried. From this it would appear that the value to the Owners of the quarries, is $60,000 less the $3,600, or $57,000 per annum, which capitalized at 20 years' purchase gives $1,140,000 to which must be added the above $90,000 for the Colonial Government, making roughly the total value $1,230,000 to be paid by the Admiralty as the purchase money for the land they require. There would have to be deductions made for labour in quarrying and removing the stone to the junks' sides. As against this there is the value of the buildings and the land outside the quarries and the value of the fisheries and foreshore rights which must be acquired by the Admiralty to carry out the proposed scheme in its entirety.

(Signed.) A. Seth.

Acting Land Officer,

19th January, 1900.

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292 useful to the Naval Authorities. The Colonial Government is now deriving a revenue from these quarries of $3,600 per annum, which at 25 years' purchase, gives $90,000 as the capital value to the Colonial Government without reckoning prospective value. The $3,600, I understand, represents 6 per cent of the annual value of the stone quarried. From this it would appear that the value to the Owners of the quarries, is $60,000 less the $3,600, or $57,000 per annum, which capitalized at 20 years' purchase gives $1,140,000 to which must be added the above $90,000 for the Colonial Government, making roughly the total value $1,230,000 to be paid by the Admiralty as the purchase money for the land they require. There would have to be deductions made for labour in quarrying and removing the stone to the junks' sides. As against this there is the value of the buildings and the land outside the quarries and the value of the fisheries and foreshore rights which must be acquired by the Admiralty to carry out the proposed scheme in its entirety. (Signed.) A. Seth. Acting Land Officer, 19th January, 1900.

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292 useful to the Naval Authorities. The Colonial Government is now deriving a revenue from these quarries of $3,600 per annum, which at 25 years purchase, gives $90,000 as the capital value to the Colonial Government without reckoning prospective value. The $3,600, I understand, represents 6 per cent of the annual value of the stone quarried. From this it would appear that the value to the Owners of the quarries, is $60,000 less the $3,600, or $57,000 per annum, which capitalized at 20 years' purchase gives $1,140,000 to which must be added the above $90,000 for the Colonial Government, making roughly the total value $1,230,000 to be paid by the Admiralty as the purchase money for the land they require. There would have to be deduc- tions made for labour in quarrying and removing the stone to the junks' sides. As against this there is the value of the buildings and the land outside the quarries and the value of the fisheries and foreshore rights which must be acquired by the Admiralty to carry out the proposed scheme in its entirety. ( Signed.) A. Seth. Acting Land Officer, 19th. January, 1900.

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292

useful to the Naval Authorities. The Colonial Government is now deriving a revenue from these quarries of $3,600 per annum, which at 25 years purchase, gives $90,000 as the capital value to the Colonial Government without reckoning prospective value. The $3,600, I understand, represents 6 per cent of the annual value of the stone quarried. From this it would appear that the value to the Owners of the quarries, is $60,000 less the

$3,600, or $57,000 per annum, which capitalized at 20 years' purchase gives $1,140,000 to which must be added the above $90,000 for the Colonial Government, making roughly the total value $1,230,000 to be paid by the Admiralty as the purchase money for the land they require. There would have to be deduc- tions made for labour in quarrying and removing the stone to

the junks' sides. As against this there is the value of the buildings and the land outside the quarries and the value of the fisheries and foreshore rights which must be acquired by the

Admiralty to carry out the proposed scheme in its entirety.

( Signed.) A. Seth.

Acting Land Officer,

19th. January, 1900.

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