To the Editor of the "Nowru-Cuixa Datty News.
Sm—I thank you very much for your" Jeaderette last Friday especially 30 because it gives me an idea as to how my letters about this subject have been misunderstood.
Though my letters partly dealt! with theories, they were, in th main, meant to be practical, that)
to. say, I was trying to devise tome practical means whereby the S.M.C's, present financial worries could be alleviated, and in my letter, which you had the kindness to publish on October 7, I believe have done s0.
From the total assessed value of land, Tis, 333. millions, on which land' tax is paid, I deducted Tis, 23 millions for entirely undeveloped and, (A) I then calculated out the annual cost (or expenses to the owners) of the remaining Tis, 310) millions worth of land on which are' houses and other buildings, covering. all or part of it, and is therefore rateable, and showed that 10. per' cent. or Tis, 91 millions was the lowest possible figure for rent, (B) I next estimated the building on the Tis, 310 millions worth of land to be worth about Tis, 250, millions, or Tis, 60 millions less than and gave my calculations, showing' that the annual cost (or expenses to the owners) is at least 16 per cent, of the value of the buildings only, or Tis, 37) millions for rent,
Text read from the printed page and cleaned; old type leaves the occasional error.