CO129-610-3 Rehabilitation of Hong Kong University 15-2-1949 - 7-2-1950 — Page 145

Despatch

No. 30.

Sec. 2220/45(II).

CONFIDENTIAL.

Sir,

{

155 2

GOVERNMENT HOUSE,

HONG KONG.

15th February, 1949.

I have the honour to refer to paragraph 7 of your

(75) stelegram No.1049 of the 11th October, 1948, regarding the

=£250,000

Annexure A.

financial position of the University of Hong Kong. The University has now submitted a detailed explanation of the manner in which it proposes to use the Government of Hong Kong's grant of four million dollars, and His Majesty's Government's grant of $250,000.

2.

Hong Kong Government's Grant.

A statement in detail of the amount already spent on the repair of buildings and the replacement of equipment, and of what still remains to be spent is contained in Annexure A. In addition the University had to find for occupation period salaries and Provident Fund charges over $1,400,000. A statement of expenditure and of funds from which that expenditure has been, or will be met shows :

451

₤129. 199

Expenditure:

/ Occupation salaries and Provident

Find charges...

2 Charges before September 1948 for

rehabilitation..

£310.385 3 Estimated cost of remaining

539-035

rehabilitation.

•

$1,431,218.50

$2,227,185.50

$4,966,165.00

$8,624,569.00

Income:

X Proindeer

Wi

HK: Rehabilitation

Live school. Ce

- page 98 of

1949-50 botes

M

Cem 5(4) 2

From grant paid through the Colonial Office in 1946 (£70,000 grant and £30,000 interest free loan).

Government of Hong Kong Grant.

$1,600,000.00

4,000,000.00

3

Donations.

$1,150,000.00

•

it

From University Endowment Fund and Provident Fund Interest..

$1,523,610.00

$8,273,610.00

Large?

An additional sum therefore of $350,959 has still to be found to complete the programme of rehabilitation.

This sum the University must find from its own resources. It is anticipated that not less than $250,000

THE RIGHT HONOURABLE

ARTHUR CREECH-JONES, M. P.,