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salaries that we hope to pay out of the grant we now apply for. Payments amounting to £5,000 have been made to Chinese Universities which admitted refugee students from Hong Kong. The Bank will supply soon a statement of all of these slightly irregular payments.
4. To meet salary claims and Provident Fund payments amounting to £117,000 we are asking aid from the Treasury amounting to about £95,700. This leaves us to find £21,300 from our own resources which I think (but this will shortly be verified) amount to about £40,000. We should then be left with about £20,000 plus a sum of $9,500 a total of advances paid to dependants which will be recovered from salaries, when they are paid for expenditure in this country, the total of £29,500 for the purchase of scientific apparatus, surgical equipment, and specialized laboratory equipment such as gas and water fitting.
5. Before the war the expenditure of the University was met from three sources roughly in the proportion: Fees and Government Grant each about 37.5% and endowments about 25%.
6. The estimates I have made cannot pretend to accuracy but I believe them to be sufficiently near to give a trustworthy picture of our posi ti on.
I should perhaps have made it clear earlier that the Provident Fund Is kept entirely separate from the University Fund. The sterling Provident Fund is invested in London, the Dollar Fund in dollars in
Hong Kong. Zund
(Intld) D. J.S.
21.XII.45.
P.S.
I now have the Bank statement. Our credit balance in current account is. £37,068, The figure of £40,000 should become £37,000 and our remainder for purchase of equipment should be reduced by £3,000.
(Intla) D. J.S.
22.XII.45.
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