CO129-466 - Individuals - 1920 — Page 585

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HONG KONG

Morgan

Just prior to the War, an agreement was arrived

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at between Messra, Denrys & Bowley, Solicitors, Hong Kong,

aoting for the Concessionaire, and the Government of Hong Kong, which provided for the construction of a short tramway

about 3 miles in length to connect the City of Victoria with the

south side of the Island, which was then practically

inaccessible, and, in addition, the agrement gave the

Concessionaire the right to take up at any time within 25

years about 550 sores of Crown Land on the south side of the

Island for building purposes, at a premium of $250 per acre

and a Crown rent of $30 per acre.

The scheme is a very important one for Hong Kong

in view of the fact that the City of Vistoria is much overɑrowded

and that there are practically no Building sites available.

By means of the tramway the most desirable part of Hong Kong

will be immediately opened up for building.

Owing to the War the agreement was not completed, but

the Concessionaire, Mr. E. T. Williams, who had bạm in

Hong Kong for some six years,

Dhanbadulnaker, took the matter up with the Colonial Offios

with a view of getting a satisfactory agrement completed having

regard to the abnormal conditions which had arisen.

Finally, on the 2mi October, 1919, the Colonial Secretary

intimated that the Governmen would be prepared to complete the

agrement, provided the Promoters could, on or before the

31st December, 1919, satisfy the Government of their ability

to construct a tramway and to finance the scheme generally, and

that it would be necessary for the promoters to deposit on the

signing of the agreement security to the extent of 50,000.

This gave the Promoters three months to deal with the

finance of the Development soheme, and whilst financial

friends of the Concessionaire were mich interested in the

proposition, thy were unabba, with the limited time before

them, to deal with it.