CO129-594-2 Rehabilitation of Hong Kong University. For extracted photographs see CN 3-45- Advisory Committee report 1-7-1946 - 19-8-1946 — Page 150

177

thear the suckers of our main propora depends

scholarships Goes shader's

upon

We Exquide

the provision, from Cherie propor

Euskyetion of our

A

proposal

مله متصالح

до

numbers sufficient for the A share £20,000

д

ف

مسلم

Suggested, but in the uncertainly of the future value of Hạng hàng Chairs -26- currencies

relation to sterling The unor

umor to regarded a Recurrent expenditure on departmental maintenance, etc.

boken

ملمشتا هه

In making an estimate of the mual maintenance expenditure for departments, for scholarshi salerics of staff), we have lurch, etc., (excluding

into account the pre-war expondi ture of the University on such items, the ostimates for the University Collogo of the West Indies made by the Irvine Jommittee, and the special, purnoses of the proposed University,

The need for

provision of scholarships for

The Committee judge Leve

Liudents from thChiun

that the following would be required:-

Grants to Dopartments

Grants to Library

•

Scholarships and Maintenance

Grants for students from Chine

arch (excluding Fisheries)

r charges

鲁

£2,500 por annun £ 2,000

tt

#1

•

£20,000

บ

£ 7,000 £6,000

1!

SH

Ahad 5

72 income

bearing a high rate of interes to

18

There are three main sources of income which may be presumed to be still available to the University - interost on endowments, grant from the Governmont of Hong Kong and foos. Before the war, endowments were a diminishing source of revenue. Somo had been invested in i During mortgages in Shanghai and Hong KongA The former have to be written off as having been ropaid in seriously depreciated Chinese dollars. In 1938 and 1939 the University was able to be rid of a certain number of the Hong Kong mortgages and to invest the capital in British Government securities; the reminder cannot for the present be expected to produce an interest return. The University is loft with a sum of about £320,000 in safe investments in the

pecci

Goivas an annual return of about

United Kingdom from which at 000 lift from the British

:

1

£11,500 of the capital sum

sum 260 Government out of its share of the Chinese Boxer Indemnity, and the interest on this is at free disposal for University purposes. A part of the remainder was given by the Rockefeller Foundation and the interest is earmarked for part payment of the salaries of professors of Medicine, Surgery and Gynaecology.

The Government of Hong Kong made an annual grant to the general fund of the University, maintained a certain number of

lars and contributed to the support, of students in training vecome teachers. The total payment from this source was ut £23,500 per annum.

The fee income of the University had risen before the war to about £22,000 per annum.

The total income that might be available to the University from these three sources is therefore about £57,000 per annum.

73. Summary

These financial estimates can be summarized as follows:

Fodude

/Non-rocurrent

the forer Indenemets These financer 29

In 1940 Scholarships for

Shadley is sleepy

Hong Kong Cultural Association HK$ 1350 (#90)

HK$ 225 (F15) for books and

awarded

was

& 79

by the Sino- Britial allower for feel & lining cos13,

of about Ith $ 600 (₤35.10) for havis

14 &

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