CO129-604-2 Crown Leases 23-2-1948 - 6-11-1948 — Page 25

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

C. O.

*

54051/48

25

Mr.

Mr.

Mr.

W.I.J.Wallace 22/10

10

Palmer das Bundiam 27110

Mr. Sideboth.

Mr.

Fermt. U.S. of S.

Parly. U.S. S.

Minister of State

Secretary of State

DRAFT. SAVINGRAM

GOVERNOR

HỒNG KÔNG

Your Reference...

CONFIDENTIAL

Your despatch No. 218 of the

(?)

9th September 1948. Renewal terms

for holders of certain Crown leases.

to stated in

Rava 3

my tel. No. 542

of my

am sell

1- of the opinion

that premums

take

should

the

into account.

developed value of

the land,

trat

that the fact that such a Considerable concession

has been granted in the Case fiture 75-you won-renewable leave may be invoked as Grund in concessifus when then types

fall on

FURTHER ACTION.

lion

1. for the reasons you give I am

prepared. agree to the concession you propose of

The

calculating premiums on undeveloped

value of the land, though I must again

stress the danger to which attention-

was drawn in paragraph 3 of my

telegram rio. 542, of oreating a precedent

likely to be invoked when the questi n

of the renewal of the 99 year leases

and the 75 year renewal leases comes

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 to premium than

to Crown rent?

Similarly with the

proposed