CO129-593-5 Rehabilitation of Hong Kong University. For extracted photographs see CN 3-45- Provisional Powers Committee 21-8-1946 - 23-12-1946 — Page 42

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Hongkong

8th November, 19 46.

This is the proposat

for the

My dear Duncan,

I have your letter of 30th October and I think it would be much better to leave the matter of disposing of Provident Fund securities until you arrive here. In fact, I feel that all questions should more or less stand over pending your arrival.

Hampden Ross has got out a rough statement of the financial position at the 31st December 1941. There are one or two omissions which I have discovered but eventually I think we will be able to get a much clearer statement.

You will be glad to know that we have disposed of the three remaining dud mortgages and I expect to release the

I amount standing against them in the University books. think this is very satisfactory seeing that all these buildings were badly damaged.

As you are aware, we have a holding of some

15,000 Hongkong Electric Company shares and 1,600 Hongkong Land Investment shares. I am going to propose at a later date that these shares, which show a considerable book profit, should be disposed of and the proceeds invested in gilt edged securities. In my opinion we should not invest in anything except gilt edged in the future.

Margery was in Port Said last Saturday, the 2nd inst., so by now she should be past Aden. She is due in Singapore on the 16th and then the fun begins. However, I hope I may find ways and means of getting her up from there quickly. Apparently these East Asiatic ships are very comfortable, and she is more than pleased with the accommodation she has got.

I had not heard that the Colonial Office had asked the Local Government to cough up a further amount, but perhaps the good news has not reached them yet.

nicreased annual

manteand

of.

•

I also received your chit of 31st October with regard to the future development of the University site. I think, we will have to have considerable discussion about.

This,

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