CO129-550-4 Hong Kong University- King Edward VII scholarships 31-10-1934 - 6-3-1935 — Page 2

Education

(1) Bw.554

Sels

use

в

credit

scholars hyrs

balances

Раса

($12,560)

pasclien

قا

fa

years

31.10.34

2

proposes

numla

29724/09

1935- 1946.

(These papers have been delayed

owing to the necessity for obtaining previous corres- pondence from Canterbury).

From the despatch of the 15th September, 1909, it appears that H.M.G. agreed to provide £300 annually for Scholarships to the Hong Kong University, and that it was left to the Governor to decide the number and value of the Scholarships to be granted.

In 1914 the Governor forwarded a

copy of the Regulations covering the grant of Scholar- ships and a list of the Scholarships proposed during the period 1912/13- 1931/32. It has not been possible

*

to cary out these proposals in their entirety, and in of this of exchange factor interest on balans

there is a credit balance of $12,560 in

57/145 a consequences

the Scholarship Fund.

It is now proposed to use these

accumulated funds for the purpose of increasing the

number of Scholarships to be granted during the period 1935/46. There are two alternatives:

Either we can approve the present scheme or we can direct

provide that the accumulated funds are to be used for

financing the normal number of scholarships and inform Hongkong that the annual grant of £300 will be discon- tinued until such time as the accumulated surplus has

when been exhausted. In view of the fact that/ the scheme was first started, the Governor was given discretion

to decide both the number and the value of the Scholar- ships, the first alternative appears to be the appro- priate course. It will, however, be necessary t view of (306) and (32) on Accounts 145 to

obtain