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attach to this matter, we may state that the draft agreement
(with other proper conditions) provided that before
the builder had possession of any part of the premises, he
should deposit one thousand pounds with the Governors, to
secure the due carrying out of the agreement. That the
ground rent payable for the first year should be £460,
increasing annually, until the completion of the fifth year,
when the full rent of £2,436 became payable. That at least
230, but not more than 250 houses should be built on the
land, at least 33 of the said houses to be of the prime cost
value of £1,000 each, and every house to be of at least £650
value. That the builder should construct and complete all
new roads to the satisfaction of the Surveyor of the
Governors, all such roads to be at least 45 feet in width,
and should provide all drainage, &c. On the heads of this
proposed agreement being submitted to the Commissioners
they required a variation of the terms, which both in our
opinion, and that of our advisers, was unusual and unnecessary.
In consequence, this important letting has been lost.
In the event of the builder consenting to the additional
requirements, the Commissioners directed the Governors to
instruct Mr. C. Oakley and Mr. J. W. Penfold to survey the
Estate, and to report thereon, and on the proposed agreement
(i.e., the Commissioners), when they would decide
whether or no they would sanction the proposed agreement.
The action of the Commissioners appears to us, to reflect on
the management of the Governors of the Charity Estates,
and must, in our opinion, prevent, or at least hinder, their
development as required by the Scheme,