CO129-322 - Acting Governor May - 1904 [1-5] — Page 155

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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No. 48.

Hongkong.

MC

Sir,

03

C. O.

8451

154

Government House, 10 MAR 04

Hongkong, 6th February, 1904.

MO

bine

98

In reply to your Despatch No. 470 of the 31st December last, I have the honour to inform you that I am unable to recommend any reduction in the ground-rent paid by the Wesleyan Soldiers' and Sailors' Home.

2. According to the original valuation of the site as prepared by the Director of Public Works in 1897 with a view to a public auction, the premium was to be at the rate of $2 per Square Foot, or $11,187.50 for the whole site, and Crown Rent at the rate of $800 per acre, which would have worked out at $83. Mr. Musson was unable to pay so high a premium and agreed to pay the largely reduced premium of $4,000 with an enhanced Crown Rent of $400; the difference between that sum and the Crown Rent originally proposed representing in round figures the annual interest on the difference between the larger and the smaller premium. Subsequently it was directed by Mr. Chamberlain in his Despatch No. 85 of the 6th April, 1898, that in consideration of the charitable nature of the object for which the site was required, the premium should be reduced to the small sum of $2,000. It now appears that the Institution having secured the site on modified terms and having thereafter received practically a gift of $2,000 is

RIGHT HONOURABLE

ALFRED LYTTELTON, K.C., M.P., &c.

200

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No. 48. Hongkong. MC Sir, 03 C. O. 8451 154 Government House, 10 MAR 04 Hongkong, 6th February, 1904. MO bine 98 In reply to your Despatch No. 470 of the 31st December last, I have the honour to inform you that I am unable to recommend any reduction in the ground-rent paid by the Wesleyan Soldiers' and Sailors' Home. 2. According to the original valuation of the site as prepared by the Director of Public Works in 1897 with a view to a public auction, the premium was to be at the rate of $2 per Square Foot, or $11,187.50 for the whole site, and Crown Rent at the rate of $800 per acre, which would have worked out at $83. Mr. Musson was unable to pay so high a premium and agreed to pay the largely reduced premium of $4,000 with an enhanced Crown Rent of $400; the difference between that sum and the Crown Rent originally proposed representing in round figures the annual interest on the difference between the larger and the smaller premium. Subsequently it was directed by Mr. Chamberlain in his Despatch No. 85 of the 6th April, 1898, that in consideration of the charitable nature of the object for which the site was required, the premium should be reduced to the small sum of $2,000. It now appears that the Institution having secured the site on modified terms and having thereafter received practically a gift of $2,000 is RIGHT HONOURABLE ALFRED LYTTELTON, K.C., M.P., &c. 200
Baseline (Original)
No. 48. Hongkong. MC Sir, 03 C. 0. 8451 154 Goverment House, 10 MAR 04) Hongkong, 6th. February, 1904. MO bine 98 In reply to your Despatch No. 470 of the 31st. December last, I have the honour to inform you that I am unable to recommend any reduction in the ground-rent paid by the Wesleyan Soldiers' and Sailors' Home. 2. According to the original valuation of the site as prepared by the Director of Public Works in 1897 with a view to a public auction, the premium was to be at the rate of $2 per Square Foot, or $11,187.50 for the whole site, and Crown Rent at the rate of $800 per acre, which would have worked out at $83. Mr. Musson was unable to pay so high a premium and agreed to pay the largely reduced premium of $4,000 with an enhanced Crown Rent of $400; the difference between that sum and the Crown Rent originally proposed representing in round figures the annual interest on the difference between the larger and the smaller premium. Subsequently it was direct- ed by Mr. Chamberlain in his Despatch No. 85 of the 6th. April, 1898, that in consideration of the charitable nature of the object for which the site was required, the premium should be reduced to the small sum of $2,000. It now appears that the Institution having secured the site on modified terms and now having thereafter received practically a gift of $2,000 is RIGHT HONOURABLE BC.. ALFRED LYTTELTON, K.C., M.P., &C.. 200..
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No. 48.

Hongkong.

MC

Sir,

03

C. 0.

8451

154

Goverment House, 10 MAR 04)

Hongkong, 6th. February, 1904.

MO

bine

98

In reply to your Despatch No. 470 of the

31st. December last, I have the honour to inform you that I

am unable to recommend any reduction in the ground-rent paid

by the Wesleyan Soldiers' and Sailors' Home.

2.

According to the original valuation of

the site as prepared by the Director of Public Works in 1897

with a view to a public auction, the premium was to be at the

rate of $2 per Square Foot, or $11,187.50 for the whole site, and Crown Rent at the rate of $800 per acre, which would have

worked out at $83. Mr. Musson was unable to pay so high a premium and agreed to pay the largely reduced premium of $4,000

with an enhanced Crown Rent of $400; the difference between that sum and the Crown Rent originally proposed representing

in round figures the annual interest on the difference between

the larger and the smaller premium. Subsequently it was direct-

ed by Mr. Chamberlain in his Despatch No. 85 of the 6th. April,

1898, that in consideration of the charitable nature of the

object for which the site was required, the premium should be reduced to the small sum of $2,000. It now appears that the

Institution having secured the site on modified terms and

now

having thereafter received practically a gift of $2,000 is

RIGHT HONOURABLE

BC..

ALFRED LYTTELTON, K.C., M.P., &C..

200..

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