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 167

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ould be required. The amount required during the 2nd year

of these operations would be $720,000 or £72,000, and thereafter for the upkeep of the buildings $25,000 or £2,500. The improvement of the teaching of the Law Department on the

lines suggested in this letter would mean an additional expenditure of $16,000 or £1,500. The Biological Department

involves an additional annual e xpenditure of $20,000 or £2,000, and the general office improvements are estimated to cost an additional $16,000 or £1,600. Thus to meet its most urgent needs the University required a capital to be spent on buildings of $1,220,000 or £122,500: it also requires an additional income of Hong Kong $169,000, say roughly £17,500

Tabulated the amount required is :

Annual Income Required.

Chinese Faculty

$80,000

Assistance for Frofessor of Education 12,000

Upkeep of Buildings

25,000

Law Department

16,000

Office Improvements

16,000

Biological Department

20,000

TOTAL

$169,000

say

$17,500

Scholarships

$10,000

TOTAL

£27,500

Capital Sum Required.

Buildings

or roughly

$1,220,000

£122,500.

16.

The debts owed to the University by the various

Moder

-

Governments of Chine these debts have been accumulating

for years and are still growing have been already brought to the notice of the Boxer Indemnity Advisory Committee by

His Majesty's Secretary of State for Foreign Affairs. I

attach a letter signed by Mr. S. P. Waterlow in which the