CO129-304 - Governor Sir Blake - 1901 [1-4] — Page 228

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Waste land, on almost inaccessible hill

sides above Quarry Bay, 4 miles from the City, has lately been sold at public auction for 9 cents and 3 cents per square foot.

I therefore consider 10 cents a foot a fair

valuation for this land, and the rent usual is all such cases is $250 par acre.

On this basis I value this land as follows:- 363,359 square feet at 10 cents ..X.............. $38,835.90

3.13 Acras at $250 an aore, capitalized for 25 years....

39,250.00

Fotal....... 634,935.90

(84.) R.D.Ornsby,

D. P. A.

3.2.01.