CO129-332 - Public Offices & Others - 1905 — Page 422

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Remarks on the Award of Sir Matthew Nathan in the mattel compensation to Messrs. Howard and Srephens for losses sustai! by the conversion of their Marine Lot No. 184 into an Inland Lot by the Reclamation in front thereof.

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41413

REC

hry Blake

In clause 5 of the Award it is stated that25 offered $24,367.50 in place of General Black's Award, which was $15,000. The offer was not made by Sir Henry Blake but by Acting Governor May.

offered, on the 21st. August 1899, to allow us to come into the Reclamation Scheme and put us in the same position as if we had originally come into the scheme, and have the land which has since been sold for $133,500; but we refused this offer because the profit on the reclamed land would not cover the loss on our old Marine Lot, and we had the promise of Governor Des Voeux and Attorney General Goodman that the Government would assess

the damage fairly.

Sir Henry Blake's Government had previously

In clause 8 (1) it is stated that if the system of capita-

lising the net rentals be adopted, the valuation of Messrs.

Leigh & Orange require corrections, and the rate of capitalisa-

tion to be altered from 6 to 7%, which would reduce their amount

to that of a valuation, on this basis, of $143,157 made by

Mr. Danby, a witness for the Crown. It is not stated what

the

corrections are, but I find that this valuation is arrived

at by taking the average net rentals of the 9 years 1887/95, deducting therefrom $3,240 received by me before dividing

profit, and capitalising the remainder at 7%. To this I would

remark that the value of the property in 1895 can only be obtain-

ed from the net rentals of that year, as shown by Messrs. Leigh

& Orange's valuation; and as to deduction when an owner collects

his own rents, our Counsel, Mr. Francis, did not make any de-

duction in his statement of claim in the "Petition of Right",