Mr. Wilson to Mr. Hay.
Tokyo, March 26, 1901.
(Mr. Wilson reports, in connection with his dispatch of February 8, that a new law has been passed by the Diet recognizing perpetual leases real rights, applying to them code provisions relating to ownership. Provision is made for unequivocal registration of leases free of charges, and for all rights of which lease is the object. The exemption of houses in any way is not indicated.)