440
(3.) It is on the route of the proposed Tramways.
(4.) It is surrounded on 3 sides by main streets all of which are 75 feet
in width.
(5.) It possesses the further advantage that no interference will be caused with the working of the Office, which can continue to occupy the present building until the new one has been completed.
16. The only disadvantages it possesses are that the land must be purchased from its present owner and that the cost of the foundations will be greater on this site than on the present one.
17. With regard to these disadvantages, I have ascertained from Messrs. JARDINE, MATHESON & Co. that Sir ROBERT JARDINE is prepared to sell the area, which comprises 25,414 square feet, at $20 per square foot, or at a total cost of $508,280.
18. As the site of the existing Post Office, Courts, &c., would be rendered available for sale by the transfer to site D," the Colony would be recouped for this outlay.
19. After providing for the construction of a public street in order to develop the land, for the purpose of which a certain area of private property must be ac- quired, there will remain an area of 38,942 square feet for sale, the value of which is estimated at $629,328. From this must be deducted the cost of resuming the area just mentioned, which is estimated at $80,000, leaving the net return from the sale of the land $549,323.
20. With regard to the extra cost of the foundations, this may be taken at about $60,000, as an offset against which there is the avoidance of the cost of temporary buildings and of the dislocation of the work which must inevitably result from attempting to utilize the existing site.
21. It will, therefore, be seen that the advantages of adopting the new site are very great and may be regarded as fully compensating for the additional cost which would be involved in carrying out the proposal.
22. In submitting the above scheme for your consideration, I have the honour to request that you will inform me of your decision in the matter as soon as pos- sible by telegraph, as Messrs. JARDINE, MATHESON & Co. have intimated in the letter, of which I enclose a coyy, that they will allow the Government to have the refusal of their offer for only two months, and that they desire to be in- formed as promptly as possible of its acceptance or decline.
23. As Sir HENRY BLAKE is fully acquainted with the details of the scheme, I have the honour to suggest that you should apply to him for any information or explanation you require during his absence in England.
I have the honour to be,
Sir,
Your most obedient, humble Servant,
W. J. GASCOIGNE, Major-General,
Administering the Government.
The Right Honourable
JOSEPH CHAMBERLAIN, M.P.,
&C.,
&c.,
Se.
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