CO129-567-13 Hong Kong University- King Edward VII scholarships 17-10-1938 - 25-1-1939 — Page 15

Sir,

Enclosure No. 3

28th October, 1938.

I am directed to acknowledge receipt of

your letters of 28th September and 17th October,

1938, on the subject of King Edward VII Scholarships.

It appears that the scheme of allotment set out in

the letter of 28th February, 1935, from Messrs.

Percy Smith, Seth and Fleming has been adhered to

with the exception that only two scholarships were granted in 1936 instead of three as contemplated.

2.

It would seem, however, that the accumulated

funds have not been reduced to the full extent

f anticipated, partly perhaps because the sum available

has been affected by exchange fluctuations. The net

balance in hand at 31st August, 1938, was £888. A

payment has recently been made in respect of scholar-

ship grants for the academic year 1938-1939 amounting

to £456 and after crediting the annual grant from

United Kingdom funds of £300 the available surplus is

now £732.

The Registrar,

3.

It would appear that funds should be available

for the grant of at least twelve scholarships during

the five years commencing with the academic year

1939-1940. A table is enclosed showing the financial

results on the basis of three scholarships in 1939-1940,

two in 1940-1941, three in 1941-1942 and two each year

thereafter up to 1945-1946. It will be seen in the

latter year there would still be some small surplus

balance remaining, but the expenditure has been calculated

University of Hong Kong,

Hong Kong.

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