162
4.
5.
£.13407.
a hill (held up by a retaining wall) which could be cut away in front of the Police Station and would afford material for filling in the Police Camber at a distance of only a few hundred yards from it. Since, however, do not recommend the exchange of lands, this question need not be pursued. Its value would I presume be about $80,000 (Area marked A in pencil on plan).
The correspondence subsequent to my departure indi- cates that the Companies were not prepared to accept the area get free by the straightening of Salisbury Road (Item IX in Mr Clementi's letter of 15.3.12) valued at $94,596 which it had been understood that they had agreed to accept and in his letter of March 28th the Acting Colonial Secretary appears with the approval of H.E. the 0.A.0. to accept the elimination of this strip from the Agreement. This alters the figures to an immediate payment of $527,314 instead of $432,618 and if the land exchanges are abandoned in favour of a cash payment, it reduces the further obligation from $1,039,771 to $945,175.
I concur in the remaining modifications contained in these further letters between the Colonial Secretary and Mr Ross, terminating with Mr Ross' letter of 28.3.13.
Turning to Mr Severn's despatch, Confid:, of 13.4.13. dealing with the method by which provision should be made
Steam to meet the cost of acquiring this site by purchase in kind by exchange of land- a course which I believe to be the
most advantageous to the Colony and which I have already recommended to you in my despatch of 26.4.123.. he points out that when the sum of money borrowed by the Colony, and lent to the "Viceroy of Wuchang" (£1,100,000) has been com- pletely repaid by him (in four years' time), the whole of
these repayments will have been expended in the construction
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