CO129-604-2 Crown Leases 23-2-1948 - 6-11-1948 — Page 23

(2/48) [16] Wt. 19126/754 50m. 7/48 C.N.Ld. 748

C. O.

Mr. M. I. J. Wallace 22/10

Mr. Palmer

26/10

Bourdillon

Mr.

27/10

Sidebotham

Mr..

12/11/almer

Mr..

DRAFT. SAVINGRAL

GOVERNOR

:ONG KONG

54051/48

75.

Permt. U.S. of S.

C. D.

R. 3- NOV D. 4

Parly. U.S. S.

Minister of State

Secretary of State

Your Reference........

See (1) on 'ug 4.XI.48

CONFIDENTIAL 1113

Your despatch No. 218 of the

(7)

9th September 1948.

Renewal terms

23

FURTHER ACTION.

(2)

for holders of certain Crown leases.

1. 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 of

underlining the special nature of the

present concession

i.e. that it arises

from special circumstances following on the

war.

2. Do not the last two lines of the

re-draft of paragraph 4 of the public

announcement as contained in paragraph 1

of your despatch under reference refer

rather