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Hh —————————————————————————————— i 1?29 would now have run forty-six years | s c°uld be renewed for a period of twenty-nine ws, which would make the renewed lease for telltY-five years. The Act provides a table of es which are to be paid by those seeking 0 u.e^als according to the "number of years I lch have expired." These words which we ^Ye quoted are interpreted by some people to r/all the number of years which have expired ninety-nine years, and if this interpreta- a !s correct no man in his senses would renew g according to the table of fines prepared in I Ui ie^e H. This will be seen at once by an Je ^7° suppose that twenty-five I had expired of a ninety-nine years lease! j Se^6 be seventy-four to run, and con- i I *^tly a renewal for one year could be N-ow the table of fines provides that j8 en the number of years which have expired jw ^enty-five,the person seeking a renewal shall, js^ °he and one-eiglith of the yearly valuG that elity-fi-e,the person seeking a renewal shall, is J one and one-eighth of the yearly valuG that I J opposing the value to be £ 100 a year, the I 3;]1? lor a renewal of one year shall be I 2 10s. -which is absurd. There is happily | ^°^cr interpretation of the words which gets and other equally great absurdities, is too simple for the legal mind, namely, dumber of years which have expired after I, 4 lt is too simple for the legal mind, namely, dumber of years which have expired after ^ct seventy-five, the term affected by the n' We will on this supposition again suppose foj '^enty-five years have expired. The fine £ tenewing the unexpired term of fifty years up Sevelaty-fii-e would be CI12 10s. for a property It the annual value of zelOO. This of course is Reasonable sum, and the sum intended by the ^ers of the Act. We admit there is some ^"iguity in the wording of the clause, and that liable is not suited to what may be urged as f ijteral rendering. We will now deal with two objections to the Act. It has frequently i tIel1 Urged that theAct was altogether unnecessary b be Corporation had already power to accept Headers of leases and to grant renewals. ^rue' ^u' our rea^ers know that nearly all L], 0llses erected on Corporation property are v ^fder sub-leases, surrenders of which could previously be accepted but which can now repewed. When the land was leased in the }j ^stance by the Corporation, it was granted acre> an^ as tte town grew in importance I ;o ]and was sublet by the yard or by the foot, f Secon^ objection, if it had any foundation in invalidate the Act, but fortunately it 0ftJ only in imagination. It is part of the law j that a mortgager cannot grant a lease the mortgagee consents. It is then stated jijJ^se who hold this objection that all the town in e is mortgaged, and that as the law applies $o^ery case, the Act should have given special Mth to Corporation to grant valid leases **°t consent of the mortgagee, which has POt t eI1 done. We need only say that the Cor- *°n property is not mortgaged, in order to Weakness of the objection we are now ^'ith. The"rentss and profits" can be mort- arjd a receiver can be put in, but the pro- cannot be sold nor disposed of in any way. f to <[• ATWOOD, who is by no means listened to e In the council chamber as he deserves Ni nas more than once tried to ex- 1^-j the difference between mortgaging the and mortgaging the rents and profits, but fliff fear he has not succeeded in making the 4ifference plain enough to be generally under- | "c0Od. fact may perhaps be stated m this J y '• a lessee under the Corporation might have J pay rent to the creditors of the Corporation, 1.¡t could never be dispossessed or interfered with those creditors. Having given this explana- "we now come to the actual position at the time, which is as follows. Several ;llt time, which is as follows. Several br applied for renewals, which if granted to tliQ in a very considerable revenue Jbeen > rHitherto a 1 the applications have to a committee—that bottomless pit w wbich public bodies drop so much of their thork. Nothing whatever has been done, but i ei>6 is talk of getting Counsel's opinion as to p0^ the clause should be interpreted. If the ^Orporation will only interpret the Act themselves, proceed upon it, there will be no difficulty V* l?teVer' ^llt Counsel's option is taken, there V* l?teVer' but if Counsel's opinion is taken, there II be one for this reading, and another for that, I §o "resu^ be that the town will have to .Cext November for an amended Act, as money fa +°S^ every day by not granting the renewals as 0 as they are applied for. One thing is clear, at the Council ought to grapple with this question at once, so that it may be decided with- Pa .^or delay whether the Act is worth the 1 yr is printed on or not. Much may be I procrastination, and everything is to be I lned by promptitude.

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