CO129-347 - Governor Sir Lugard - 1908 [4-6] — Page 318

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on account of no premium being charged. In addition to

this, the Company have a right-of-way over an area of 312

Square Feet, for which they pay the nominal sum of $14 per

annum, i.e. a rate of $558 per acre. I enclose a tracing

of the whole area in question.

The supply of milk furnished by

the Company is undoubtedly a public benefit and in view of

the circumstances under which the lease was originally

granted I consider that it would be harsh to insist upon

the lot being sold at auction on the expiration of the

present lease, and I submit for Your Lordship's approval

that a new lease should be granted to the Company on the

following terms.

1.

The existing lease to be surrendered

and a new lease, for a period of 75 years (renewable on

the usual conditions), to be taken out for the area (5,860

Square Feet) shown on the tracing.

2.

Premium at the rate of $2.50 per

Square Foot to be paid into the Treasury within 7 days of

the date of a notice signed by the Director of Public Works

requiring such payment.

3. Crown Rent to be $80 per annum, com-

-mencing from the date of payment of the premium specified

in

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