CO129-553-2 Tung Wah Hospital- the Kwong Wah Hospital and the Tung Wah Eastern Hospital- financial assistance... 30-1-1935 - 19-11-1935 — Page 14

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from the house property, which forms the bulk of the

endowment, diminished to a very large extent, especially

in 1934. By great efforts the books were balanced on the

1933 account but by the middle of 1934 it was evident that

a serious situation must be anticipated at the end of that

year.

5.

The Committee were urged to take special measures and by means of charitable Fêtes and the like raised

about $25,000 before the end of the year; but a deficit

of about $75,000 still remains.

6.

After full discussion with the Chinese

representatives on the Executive and Legislative Councils

I recommend that an immediate grant of $25,000 should be

made with a further grant on the basis of a dollar for

every dollar collected by the 1934 Committee up to a

maximum of a further $25,000. This recommendation has

been unanimously approved by the Finance Committee of the

Legislative Council which, as you know, comprises all the

Unofficial Members.

7.

A special fund for this purpose is being

opened by the Committee to ensure that the dollar for

dollar basis is properly maintained.

8.

I would point out that the normal sub-

vention from public funds amounts to less than 25% of the

total income. I am anxious to maintain the preponderantly

voluntary nature of the Hospitals and it is clear that if

they were taken over by the Government, which is the only

alternative, the additional burden would be very heavy.

9.

At the same time the recent examination of