295
After further correspondence and considerable delay, a letter was received from the Director of Public Works dated the 21st November, 1890, giving the conditions on which the land required would be leased to the Dock Company, viz:-
That the land shall be put up to auction at a premium of 30 cents a square foot under a Crown Lease for 75 years only.
That the dock must be of such dimensions and form as shall be approved by the Commander-in-Chief on the China Station and be completed within a period of four years after taking possession of the land, and should the work not be finished in four years, a penalty will be inflicted of £100 a month, and that His Majesty's Ships are to have a prior right of entrance to the dock over all other vessels.
The conditions offered by the Colonial Government have received the careful consideration of the Board of Directors and they regret that they do not feel justified in accepting them. The premium put on the land is very high if it be taken into consideration that another Company has now two docks in course of construction, on land purchased from the Government as recently as last year at a premium of only 10 cents a foot with a lease for 999 years without any stipulation as to priority of right of entrance to the said docks or other condition. There will certainly be keen competition in the future, and it is a matter of deep concern to this Company to be so heavily handicapped by the greater cost of the land, a lease for 75 years only, and the prior right demanded by the Admiralty without compensation.
With regard to the condition asked for by the Admiralty, I would point out that for a similar concession, giving prior right of entrance to the Ships of His Majesty into the Company's large dock at Kowloon, the Lords Commissioners of the Admiralty paid to the Company the sum of £25,000, as a free grant in aid of the work of construction, this dock being considered exceptional in dimensions so as to meet the docking requirements of the British Navy. The right of prior entrance to the Company's Docks by the Ships of His Majesty's Navy often leads to a considerable amount of friction with the Mail Steam-ship Lines whose vessels
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295
After further correspondence and considerable delay, a letter
was received. from the Director of Public Works dated the 21st November, 1800, giving the conditions on which the land required would be. leased. to the Dock Company, viz:-
That the land shall be put up to auction at a premium.of 30 'cents a square foot under a Crown Lease for 75 years only.
That the dock must be of such dimensions and form as shall be approved by the Commander-in-Chief on the China Station and be completed within a period of four years after taking possession.of the land, and should the work not be finished in four years, a penalty.will be inflicted of £100 a month, and that His Majesty's Ships are. to have a prior right of entrance to the dock over all other vessels.
The conditions offered by the Colonial Government have received the careful consideration of the Board of Directors and they regret that they do not feel justified in accepting them. The premium put on the land is very high if it be taken into consideration that another Company bas.Dow two docks in course of construction, on land purchased. from the Government as recently as last year at a premium.of.only 10 cents a foot with a lease for 999 years without any stipulation as to priority of right of entrance to the said docks or other condition. There will certainly be keen com- petition in the future, and it is a matter of deep concern. to this. Coupany to be so beavily handicapped by the greater cost of the land, a lease for 75 years.only, and the prior right demanded by the Admiralty without
compensation.
. With regard. to the condition asked for by the Admiralty, I
would point out that for a similar concession, giving prior right of
entrance to the Ships of His Majesty into the Company's large dock at Kowloon, the Lords Commissioners of the Admiralty paid to the Company the sum of £25,000, as a free grant in aid of the work of construction, this dock being considered exceptional in dimensions so as to meet the dock.- ing requirements of the British Navy. The right of prior entrance to the the Company's Docks by the Ships of His Majesty's Navy often leads to a considerable amount of friction with the. Mail. Steam-ship Lines whose.vessels
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