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6. Funds spent in the United Kingdom will be regarded as loans. bearing interest and providing for eventual amortisation, from the Board of Trustees to the Chinese Government Railways or other productive enterprises concerned, and strict account will be rendered from time to time to the said Trustees. The amounts attributable to the service of such loans will be paid to the said Trustees and by them applied to educational purposes at the earliest opportunity.
I avail, &c.
Excellency,
(2.)
CHENGTING T. WANG.
Dr. Wany to Sir M. Lampson.
Nanking, September 19, 1930. WITH regard to the constitution, powers and proceedings of the Purchasing Commission in London referred to in my note of to-day's date on the subject of the disposal of the British share of the Indemnity of 1901, I have the honour to state that it is my understanding that-
1. The term of office of a member of the Commission (other than the chairman) shall be three years, subject to reappointment, but a member may at any time resign his office.
2. The proceedings of the Commission shall not be invalidated by any vacancy among its members, provided, however, that no decision of the Commission shall be taken in the absence of a quorum, which shall be constituted by any four of its members.
3. The Commission may provide itself with such offices and employ such officers, expert advisers, accountants and agents as it deems necessary for the proper discharge of its functions.
4. The accounts of the Commission shall be made up to such date in each year and audited by such persons as the Commission may determine, and the Commission shall submit to the Chinese Government a summary of those accounts and of its transactions during the year and cause it to be published.
5. Subject to the above provisions and the conditions set forth in the above-mentioned note, the Commission may regulate its own procedure and make standing orders governing the conduct of its business, whether by the Commission or by committees of the members thereof.
I avail, &c.
CHENGTING T. WANG.
Sir,
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(8.3*
Sir M. Lampson to Dr. Wany.
I HAVE the honour to acknowledge the receipt of your
Nanking, September 19, 1930. Excellency's note of to-day's date on the subject of the disposal of the balance of the British share of the Indemnity of 1901, in which you inform me of the intention of the Chinese Government, in the event of His Majesty's Government in the United Kingdom of Great Britain and Northern Ireland returning the said Indemnity funds to its control, to create out of the said Indemnity funds an endowment to be devoted to educational purposes in harmony with the general views set forth in the report of the Anglo-Chinese Advisory Committee published in 1926.
I have also the honour to acknowledge the receipt of your Excellency's note of to-day's date regarding the constitution, powers and proceedings of the Purchasing Commission in London proposed in your Excellency's other note acknowledged above.
I am communicating the texts of your Excellency's notes to Ilis Majesty's Government for their consideration, and in the mean- time, by direction of my Government, I have the honour to suggest to your Excellency that a sum of £265,000 and a further sum of £200,000 be set aside from the accumulated funds now on deposit, to be donated respectively to the Hong Kong University for the education of Chinese students and to the Universities' China Committee in London for the promotion of closer cultural relations between China and the United Kingdom. Universities' China Committee will be invested as an endowment The grant to the fund, the proceeds of which will be used inter alia for inviting eminent Chinese to give lectures in the United Kingdom.
Excellency,
(4.)
I avail, &c.
MILES W. LAMPSON.
Dr. Wang to Sir M. Lampson.
Nanking, September 19, 1980.
I HAVE the honour to acknowledge the receipt of your Excellency's note of to-day's date on the subject of the disposal of the balance of the British share of the Indeninity of 1901, which contained the following proposal from His Majesty's Government in the United Kingdom of Great Britain and Northern Ireland :—
That a sum of £265,000 and a further sum of £200,000 be set aside from the accumulated funds now on deposit, to be donated respectively to the Hong Kong University for the educa- tion of Chinese students and to the Universities' China Committee in London for the promotion of closer cultural relations between China and the United Kingdom. The grant to the Universities'
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