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The Biological Department involves an additional
annual expenditure of $20,000 or £2,000, and the
improvements are estimated to cost an additional $16,000 or £1,000. Thus to meet its most urgent needs the University requires a capital to be spent on buildings of $1,345,000 or £135,000; it also requires an additional income of Hong Kong $144,000
or £14.400, say roughly £15,000.
16. The debts owed to the University by the
various Governments of China these debts have been
accumulating for years and are still growing - have been already brought to the notice of the Boxer Indemnity Advisory Committee by His Majesty's Secretary of State for Foreign Affairs. I attach a letter signed by Mr. S. P. Waterlow in which the view is taken that it seems not unlikely that the Committee will take a favourable view of Sir R. Stubbe' suggestion that these debts should be regarded as a first charge on the Boxer
Indemnity Funds. These debts amounted on the 31st April last to Hong Kong dollars $106,780.29 or roughly
£10,700.
17.
The amount required to settle this debt would bring the capital amount asked for in this letter up to roughly Hong Kon $1,300,000 or £150,000. In other words the claim which we are venturing to press in this letter is for £150,000 capital and an addition to the University's income of £15,000.
I am, dear Lord Willington,
Yours sincerely,
(sd.) C. Clementi.
CHANCELLOR.
University of Hong Kong.
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