No 27.
RECEIVED
25 FEB1931
COL, CFFIC
84
GOVERNMENT HOUSE,
HONGKONG,
22nd January, 1931.
Ion
10
30124/24
My Lord,
With reference to my predecessor's despatch No.61 of the 11th of February, 1927, I have the honour to inform Your Lordship that the Committee of the Diocesan Boys School is now more than six months in arrears
in respect of interest and sinking fund due on the loan of $175,000 made to the school in 1927. The sum of $7,000 which fell due on the 27th of July, 1930, has not been paid and I am informed that it is most improbable that the school will be in a position to meet the
instalment which falls due on the 27th of this
month.
2.
THE RIGHT HONOURABLE
LORD PASSFIELD,
&C.,
The school has been for some time in
financial difficulties which were due
undoubtedly to the fact that somewhat ambitious
building operations were undertaken on the
expectation of resources which were not
forthcoming.
It appears to have been
&C.,
&c.
unfortunate,