1
would produce a yield of £8,750 per annum leaving about £36,000
per annum to be raised otherwise.
If you agree with this
suggestion I would have no objection to the rest of the fund being
invested in the local utilities.
Assuming a yield of 12,3 from the
local utility companies a further £300,000 would then be needed
in the fund to produce the further £36,000 needed. You are yourself
contemplating possibility of Hong Kong Government contributing、
£250,000 to endowment fund. If in the event this proves possible and
you agree that £250,000 should be invested outside Hong Kong I will at
once propose that H..G. should contribute £250,000 to the fund to be
invested in gilt-edged securities. If H.".G. agree to make this
contribution only a further 350,000 will remain to be raised to
provide an endowment fund adequate to meet the needs of the
University and.I feel sure that it will prove possible for at least
this amount to be raised by subscriptions from members of the
public in Hong Kong.
3. I should be grateful for your comments on the
suggestion that £250,000 of the endowment should be invested in
gilt-edged securities and only the remainder in local stocks. I
should also be glad to learn definitely as soon as possible
whether you will this year be able to make a contribution of
£250,000 towards the fund.
SECER