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Wenchai Road, was purchased by Mr. U Hang Shing for $22,000. This property realised therefore 89,000 more the the estimated value reported to you in Sir F. H. May's Despatch under reference.
(e). Messrs. Witzke & Co.'s Yard, Kowloon Inland Lot No. 209. This lot was purchased by a Chinese subject, Lo Cheung Lim for the sum of $12,900.
2.
With reference to Messrs. Blackhead &
Co.'s property referred to in (b) above, enquiries have been received by the liquidators asking what price would be accept- -ed, but I am of an opinion that it would be unadvisable to sell the property except by auction. I enclose a copy of a report by Messrs. Leigh and Orange giving their estimate of the value of the land and buildinga.
I understand that the Taikoo Dockyard and Engineering Company of Hongkong, Ltd., are not prepared at present to incur any further capital expenditure in the pur- -chase of leasehold property. They would very much like to have the property, and they enquired semi-officially whether the Government could see their way to resume the property and give it to them in exchange for some other property of theirs further east. The resumption of this property for the purpose of an industry which is of Colonial and Imperial importance might be considered a public purpose within the meaning of the Crow Lands Resumption Ordinance, 1900, but I do not see
my way at present to recommend this proposal.
3.
In each case the purchaser was required
to comply with the conditions of sale, a copy of which was forwarded in the Despatch above referred to. This of course
do es
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