CO129-299 - Administrator Major Gen Gascoigne - 1900 [5-6] — Page 12

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of not less than $300,000 should be rpent, on rateeble i~ provement within 4 years, and another that certain Squatters on the land should be compensated by the purchaser

to the satisfaction of the Squatters Board.

In the negotiations which preceded the sale,

it was agreed to recommend the grant of the extension

to Marine Lot No.2 rt a premium of 10 come a square foot end a Crown Rent at the rate of $200 an acre on the same

lease as in the case of the area put, up to ruction.Marine Lot No.2 was sold in 1891 for 3 cents a square foot with

a Crown Rent of $100 per acre.

The terms therefore are very favourable,and I

have to ask your sanction of them and of the grant of the

extension.

As I have already informed you,†

rou,the large area

recently sold to Messrs.Butterfield and Swire is required

for a Dock, and this extension is required in connection with the same project, and as Messrs. Butterfield and

Swire desire to proceed with the preliminaries for the

construction of the Dock at as early a date as possible,

I should be glad, if you approve of the grant of the

extension to receive your sanction by telegraph.

I have the honour to be,

Sir,

Your most obedient

Humble Servant,

7.7.Gascoigne

Major-General

Administering the Government.