"GLASGOW" LEASES.

Taranaki Daily News, Volume LV, Issue 244, 5 March 1913, Page 4

"GLASGOW" LEASES.

UNSATISFACTORY IN WELLINGTON. ' By Telegraph—Press Association. Wellington, Last Night. At a meeting of the Wellington Leaseholders' Association held this afternoon, the unsatisfactory terms of the Wellington City leases was pointed out by the chairman.- He referred to the fact that the lease was for fourteen yearly renewal periods only, with no right o{ compensation for buildings. He further commented on the fact that these leases which in operation have been found u> be so unsatisfactory in Wellington, were, the same style of lease as those set out in "The Local Bodies Leasing Powers Act. 1908," and that, therefore, the question was one of importance not only to Wellington, but to every local 1 .)dy in the Dominion. These leases which are known as "Glasgow" leases are supposed to be framed on a lease in use in Glasgow, and he read letters from the 'corporation of Glasgow stating that that corporation let none of its lands on leases of that nature. He also rend a letter from a leading firm of solicitors in Glasgow, in which it was stated that leases with such terms were absolutely unknown in Scotland. It was suggested at the meeting, that the matter should be referred to a Commission consisting of, say a leading lawyer and a leading business man with a view to an equitable lease being drafted.