CO129-415 - Governor Sir May - 1914 [12] — Page 17

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5.

It may also be mentioned that the simultaneous vacation of so muchof the best office accomodation in the

Colony may have the effect of reducing generally the rents which the landlords of offices will be able to obtain on new leases. This effect may, however, be minimised by a general movement into the vacated offices by firms which heretofore have been housed in older and less convenient premises.

6.

Another consideration is that if the German firms return after the conclusion of peace they may not require such large offices as they formerly occupied. This point was referred to by the German lessees themselves.

7.

In individual cases the matter may settle itself. For instance, the liquidator of one German firm has been able to sub-let for £300 a month less than half of the office space formerly held by the German firm at a rental of 8490 a month, and in other cases leases of dwelling houses have been arranged with- out any loss to either party to the former leases.

8.

As the same question may have arisen elsewhere I shall be glad to know whether the view of the legal position which has been taken here is sound, and if so whether it is con- sidered desirable that any legislation should be introduced.

9.

I shall be obliged if your instructions in this matter may be communicated by telegraph, if that course be found possible.

I have the honour to be,

sir,

Your most obedient,

humble servant,

Governor,&c.