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 115

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University of Hong Kong.

THE TOTAL AMOUNT OF INTEREST ON INVESTMENTS FOR THE YEAR 1928 AMOUNTED TO $243.304.89

AS AGAINST 5242.927.22 IN 1927.

AFTER DEDUCTING TEACHING EXPENDITURE RECOVERED. THE EXPENDITURE DURING 1928 SHOWS A DE+

CREASE OF $14,476.74. As COMPARED WITH THE PREVIOUS YEAR.

THE INCOME FOR 1928 LESS TEACHING EXPENDITURE RECOVERED WAS $448,858.16 AS AGAINST

$440,079.26. THE INCREASE WAS DUE LARGELY TO INCREASED MATRICULATION AND LOCAL EXAMINATION

FEES.

FULL PROVISION HAS BEEN MADE FOR BAD AND DOUBTFUL DEBTS. THESE AMOUNT TO $25.518.11 AND

REPRESENT ALMOST ENTIRELY MORTGAGE INTEREST WHICH HAS NOT BEEN PAID AND WHICH IS CONSIDERED

IRRECOVERABLE.

INVESTMENTS IN GOLD AND SILVER SECURITIES ARE SHOWN AT MARKET VALUES IN THE BALANCE SHEET AND TOTAL $4,256,201.15 AS AGAINST $4,118.938.39 LAST YEAR.

INCOME IN EXCESS OF EXPENDITURE THIS YEAR AMOUNTS TO $19.937.03 AS AGAINST A DEFICIT OF $3.318.61 LAST YEAR.

W. W. HORNELL,

VICE-CHANCELLOR,

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