CO129-541-14 Sale of land to Hong Kong and China Gas Company 27-10-1932 - 27-10-1932 — Page 2

1 ONG. 488.

Requests approval

34/x

во-

the.

grant.

China Har

Cay

to the Hong Kong

Pili lò

on

special limo

states, reasons

Request approval by telegraph

The Gas Company does not now wish to take

up the lease of the site approved in (6) on

84825/31, but has applied for the lease of a

smaller adjacent site of about three acres.

In order that the Company may relinquish

without a claim for damages its right to unload

coal, lime, etc at the point on the water side

which is to be the terminal point of the vehicular

ferry, which right the Company possesses under a

concession granted to it in 1888, it is proposed

to grant a lease of the site for which the Company

now applies on terms which do not restrict the

use of the site to the purposes of the Gas Works,

and at a premium of 50 cents per square foot

instead of 75 cents per square foot which was the

premium payable for the .site for which the Company

originally applied.

I assume, though it is not so stated, that

the premium per square foot in the case of the

two sites would normally have been the same,

namely, 75 cents per square foot. On this basis

the reduction of premium on the lease of the site

now proposed amounts to $32,670.

We are not in a position to assess the

damages which the Company might have claimed under

their concession for the deprivation of access

to the point where the vehicular ferry is to

terminate (the attorney-General and the Land

Officer agree that heavy damages would have had

to

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