CO129-489 - Governor Sir Stubbs & Sir Clementi - 1925 [8-12] — Page 150

+

40332.

R

Sir,

RE

44873

500135

GOVERNMENT HOUSE.

HONGKONG, 31st August, 1925.

I have the honour to enclose a copy of a

statement received from the Vice-Chancellor of the

University of Hongkong which shews the amount due to the

University from various Governments in Chine.

2.

There is no prospect that any appreciable

part of these sums will be paid within any measurable period of time and meanwhile the University is likely to

fall into financial difficulties.

The Vice-Chancellor informs me that there

is considerable reason to believe that much of the interest

of the mortgages in which a large part of its endowment funds is invested will not be forthcoming when it next falls due owing to the difficult financial situation arising from the Cantonese boycott of Hongkong. It would be useless to foreclose as land and buildings would be unsaleable for the

same reasons and there is nothing to be done but to wait

till the mortgagors can pay.

A considerable falling off in the number of

students may also be anticipated for next year so that the

income from fees will be materially reduced.

THE RIGHT HONOURABLE

LIEUTENANT COLONEL L.C.M.S. AMERY, M.P.,

&c.,

&c.

&c..

3.

Page 150Page 151