چه
431
this rapidly growing born, which must extend to the east as soon as a tram line is made from West to East.
I do not think that the prices of land, ten, five or three years ago is any criterion of the value of land to-day, and it must be remembered that for a large area such as this, with a condition that $300,000 shall be spent in reteable improvements within four years we cannot expect competition. The Government must itself decide the price at which it will sell. I consider the water aree suitable for a dock, the most valuable land in the possession of the such
A
Government, and I am not preparedto offer for sale an
area at a smaller price than that last paid by the Whampoa dock Company. The trade of China is increasing yearly, and there must be a demand for more docking accomodation in liongkong, "hich is and will continue
to be, the great port of call for the Chinese Leas.
•
It is greatly to be regretted that the D.P.W.should have written a letter on so important a subject with- out first having obtained official authority for so doing, but I do not feel justified in disposing of pro- perty of this description at a lower rate than that obtained for the last e sold to the Whampoa Dock
company.
arean
On this point I em prepared to make
a concession if the largerarea. be purchased. In that case I shall be prepared to grant an extension over the area of 323,800 square feet at 10 cents instead of 20 cents. Farther than this, I am not prepared to go.
H.A.R.
14/3.
lion.D.P.W.
To note.
F.E.M.
15/3/900.
HOL.
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