CO129-366 - Governor Sir Lugard Acting Governor May - 1910 [4-5] — Page 438

434

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1

.(8)

site would be granted to them on nominal terms,

With regard to (2), they point out that the

proposed premium is at a higher rate than they paid for Quarry

Bay Inland Lot 3, which is also utilized for reservoir purposes. The lot to which they refer was sold in 1891 for 3 cents per square foot and it is scarcely reasonable to seek to apply the same rate at the present time. In the case of Inland Lot 1336, sold to Messrs. Butterfield and Swire in 1893 for a reservoir site, the premium charged was at the rate of 5 cents per square foot, but I find that the Crown Rent was about $55 per acre against $100 per acre for Quarry Bay Inland Lot 3. The difference between the total amount of premium payable for the two sites now under consideration at the respective rates of

.$2,194.00

5 cents......................

and 3 cents.

is..

1,316,40

877.60.

With regard to (3), I proposed the sum of

$10 as the encroachments were somewhat numerous. I see no ob -jection to reducing the amount to $5, especially as the Powder magazines are to be removed.

I submit the master as to whether the terms

for (1) and (2) should be reduced as Hossrs. Butterfield and Swire request and the sum chargeable for (3) should be reduced

to $5 per annum.

I have etc.,

(sd.) W. Chatham,

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+

The Honourable

The Colonial Secretary.

Director of Public Wonte

Wom