CO129-485 - Governor Sir Stubbs - 1924 [8-12] — Page 147

7

A

131

nclosure 6.

Enclosure 7.

Road and the land has hitherto been used as a Public Worke Depôt. It is worth at present about $10 a square foot, but I consider that the value of a well-managed Sailors' Home

in this great commercial port and in close proximity to the shipping makes it desirable to grant the best site available.

After providing the police station on site (B) it is intended to sell the remainder of the land, consisting of about 50,000 square feet, at a price estimated at $20 a square foot, or about $1,000,000. This

sum would be used in paying $800,000 to the Trustees of the Sailors' Home 850,000 to the Diocesan Authorities and the balance if any would be paid into revenue.

6.

I enclose a copy of the letter from the

Colonial Secretary to the Committee, and of the reply.

I have the honour to be,

Sir,

Your most obedient. humble servant,

7.E. Stubbs

Governor, &c.