CO129-524-2 Hong Kong University- financial position- Chinese studies- future of the Chinese school and the Annual... 27-1-1930 - 12-8-1930 — Page 106

100

- 10 -

for Mr. Wells and Mr. Sung. The other two are being used as class

rooms. Last year, when the numbers were too large for these small

class rooms, the class used to be taught in the Hall or in any

vacant space. There is not a spare inch of space available in the

University building. In fact the provision of some additional

accommodation is an essential condition of the starting of any sort

of Chinese School. The cheapest way of providing this accommoda-

tion would be to adapt the building at the West Gate which is now

used as quarters for coolies and mechanics. This would involve

not only the reconstruction of this building but also the con-

struction of a new building for the mechanics and coolies. I have

hazarded a sum of $50,000 as covering this whole scheme, but I have

not had time to consult Professor Redmond either as to the proposal

in so far as it effects the Engineering Department mechanics etc.,

or as to the estimate. But Professor Redmond is now a member of

the Council.

17.

On the above basis the maximum annual expenditure of the

Chinese School including a language Class is roughly $58,000.

This

means that we require a capital of $966,000 to produce that revenus

at 6%. Our past experience has been that we cannot assume that wo

can get a consistent rate of interest higher than 6%. To the sum

of $966,000 must be added a capital amount for building and equip-

ment etc., which cannot be safely put at less than $60,000 including

maintenance. This would bring the capital sum required to about

1,026,000, or adding a sum of $5,000 which is I am told required

for the purchase of books, to $1,031,000.

18.

I am afraid that this figure sounds prohibitive but I do

not see how it can be materially reduced. It might of course be

possible to reduce the cost of the staff of the Chinese School,

though I am assured by Mr. Wood, the prosent members of the Chinesc

staff and Mr. Li King Hong that the teaching of such a course as is.

contemplatod for the Chinose School will require this number of

teachers. It has to be remembered that these teachers will also

teach those students who are taking Chinese as a subject in the Arts

Faculty.