CO129-300 - Administrator Major Gen Gascoigne Governor Sir Blake - 1900 [7-9] — Page 438

434

converse case. If Mr.Denby had, under a misapprehen- sion written privately to Mr.Ormsby to say Messrs Butterfield and Swire contended to give 30 cents a square foot and the lot was put up to auction, and Messrs Rutterfield and Swire declined to purchase that figure, saying Mr.Denby had written under a mis- apprehension and without their authority, surely it would not be contended that they were legally bound to buy at that price.

W.M.G.

17/3/900.

Your Excellency.

The Attorney General advises that the private commun- ications of the D.P.W.is not legally binding on Your Excellency.

I beg to submit the following figures:-

At 30 cents a square foot the premium for the two

lots would equal $399,660.

If the smaller lot is sold for 10 cents a foot equal -

and the larger for 20 cents a foot

$52,580.

equal

*

Total X

$201,060

$2.34,060.

or $165,600 less which represents the capital sum and at

40

25 years purchase of a yearly rental of $6,620100. or say a Crown rent of $200 ar acre, as we generally deal in round figures in fixing Cromrents. So the Crowu rent would have to be doubled if the premium were re-adjusted as above.

If the small lot were sold for 10 cents spsk 58, 380. and the large at 15 cents ageNÁ.

151,260

· Total. $183,640.

the