9th Dec.
Yiu; Municipal Council really presume too wuch on Mr. Thomas Trunbury's hilanthrophy, when they ask him, after is liberal donation to the Hanbury School, to sacrifice 'I'ls. 5,630 in order to effect a great public benefit. This will undoubtedly be the first thought of all who read the correspondence published to-day with the Municipal Minutes. For years successive Councils have been auxivus to make the Kiukiang Road ble throughout its length for Frow the Bund to the Road it is a very good road, and of a respectable width; but he Fohkien and Hupeh Roads. it is reduced to the width of an alleyway, Negotiations have been opened from time to time with the owners of the houses which block what should be the road for the acquisition of the necessary ground, but without success at one time Mr. Kingsmill held out hopes that an arrangement could be made, and in 1883° the Ratepayers yoted Ts, 12,000, and in 1886 'I's. 9,000 for the purpose. he land on the other side of the alleyway is owned by Mr. 'T. Hanbury, and on the 10th of November his agents wrote to the Council offering to sel! enough land to widen the road to thirty feet for Ts. 10,000, the houses to be pulled down within a few months.. The Council replied, offering Els. 8,000, and this offer was refused on the ground that the change would cost Mr. Hanbury 'I'ls. 13,630, and that while—apparent!—he was willing to sacrifice Ts. 0, it was too much to ask him to sacrifice Tls. 2,000 more than thi It would cost him, his agents say, 9,000 to rebuild his houses, and he would lose an annual rental of 'I'ls, 824 which, capitalised at only 7 per cent., makes a loss of Ts. 4,630.
Naturally, Mr, Hanbury's agents have not under-estimated the value of these China houses. At the old assessment of T's, 3,500 per mow the land required is actually worth is. 3,325; at the new assessment, MIs. 6,000 per mor, it is worth Is. 5,700; so that all the Council's offer would give him towards the rebuilding of his houses is is. 2,300. It is fair to ask him, however, whether the improved value of his property after a wide road had been
Text read from the printed page and cleaned; old type leaves the occasional error.