CO129-332 - Public Offices & Others - 1905 — Page 417

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actual depreciation of their property by the Reclamation in front of it, also said that by the provision in question there can be taken into account the moral claim, so that instead of being a hardship to the dissentient Lot-holder the cla in reality will operate for his protection.

And, too, Her late Majesty's Ministers, in a former

Reclamation, recognised the equitable claim of the holder of

the Marine Lot, and stated that a sense of justice requires

that it should be liberally considered.

Our claim is based upon the admitted obligation of the

Crown to compensate for the difference between the value of

our Marine Lot No. 184, and its value when converted into an

Inland Lot by the Reclamation in front of it; and that this

difference be ascertained from the incontrovertible fact of

2

net rentals $15,406, in the year 1895, before the rentals began

to decrease, capitalised at 163 years' purchase for a Crown

Lease of 999 years, with the customary 10% added; and deducting

therefrom the $110,000 for which the property was sold as an

Inland Lot on 10th. October 1899 when net rentals had decreased

to $4,308 for the 283 days in that year, and also $25,142 for

the loss of rents caused by obstruction of access by the Works

of the Reclamation before the Reclamation was actually commenced

in front of our Lot, recognised by Attorney General Goodman

as à proper subject of claim.

Three Awards have now been made.

The first, by Acting Governor Major-General Black was $15,000 as compensation for injury sustained by the Reclamation

Works; but whether for depreciation, loss of renta, or both,

is not stated.

The second by Acting Governor May, is $24,367 for deprecia- tion, "as in Musso's case". The claim sent in by Madame Musso

was on behalf of the Sub-Lessee for loss of rents, and how that

became converted into one for depreciation of the property

of the Crown Lessee is not apparent.