# Table X.
The Lugard Scholarship.
Income and Expenditure Account for the year ending 31st December, 1925.
Income.
To Balance from 1924 $790.47 By Scholarships $345.00
Income from Investments 490.00 Balance, Cash at Bank 949.05
Interest on Current Account 13.58
$1,294.05 $1,294.05
Balance Sheet, 31st December. 1925.
Liabilities. Assets.
Capital $10,449.05 On Fixed Deposit with Hongkong & Shanghai Bank $8,000.00
Hongkong War Loan Bonds (in custody of Hongkong and Shanghai Bank)... 1,500.00
Cash at Bank, in Current Account 949.05
$10,449.05 $10,449.05
E. RALPHS,
Inspector of English Schools.