ing.
54051/48
the Secretary of State for the Colonies.
e Officer Administering the Government of
November, 1948.
Date..
4
No......
1113
Saving.
CONFIDENTIAL.
HONG KONG
24
1948.
Your despatch No.218 of the 9th September
Renewal terms for holders of certain
Crown leases.
As stated in paragraph 3 of my telegram
No.542 I am of the opinion that premiums should
take into account the developed value of the land,
but for the reasons you give I am prepared to agree
to the concession you propose of calculating
premiums on the undeveloped value of the land,
though I must again stress the danger that the fact
that such a considerable concession has been
granted in the case of these 75-year non-renewable
leases may be 'invoked as a ground for concessions
when other types of lease fall for renewal. I
would urge therefore that every opportunity be
/taken
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