Mr. Hay to Mr. Buck.

[Telegram.—Paraphrase.]

(Mr. Hay states that the registration as superficies of titles to perpetual leases is not acceptable to this Government without some authoritative interpretation of the Japanese Government that title under that style is not inferior to that of the perpetual lease; and that, so far as advised, this Government is not prepared to concede that buildings on perpetual leases are subject to taxation not specified in original lease.

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