order to preserve its identity during such a temporary exile it
would need income in addition to the yields from its present
overseas investments, which are sufficient only to meet super-
annuation obligations. We, of course, appreciate the point you
made in your letter that ultimately the utilities and the
University stand or fall together. As we see the matter, however,
it is not possible to plan satisfactorily for the University
on the assumption that serious troubles in Hong Kong which
might force the University to migrate would mean an end of the
University; if this view were held it would clearly be ridiculous
to devote money to capital development of the University. In
these circumstances it seems to us prudent to ensure that the
University has a sufficient income arising from sources outside
Hong Kong to enable it to weather any storm.
I hope you will appreciate that we are not just being
awkward on this matter and that you will be able to agree with
You will no doubt want to talk the whole matter over
us.
with the University authorities and as we felt that you might
wish to show them our savingram we thought it better that these
more delicate matters should be dealt with
separately.
15
Yours sincerely,