CO129-620-10 Grant of land to London Missionary Society- to Chinese Golden Silver Exchange Society 30-12-1948 - 7-1-1949 — Page 5

INWARD TELEGRAM

TO THE SECRETARY OF STATE FOR THE COLONIES

de

COPY FO

STRATION

FROM HONG KONG (Sir A. Grantham)

A

JAM

JA

#7

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09.35 hrs.

D. 30th December 1948. R. 30th

I 1

5

Endy

No. 1198 Confidential.

Grateful for approval of grant by private treaty to Chinese Gold and Silver Exchange Society of 9,292 square feet of land linking roads, Hong Kong, on the following conditions for the purpose of building free school.

2.

3.

Conditions.

a

Private treaty grant;

b Term of 75 years renewable for 75 years; (c) No(repeat no) premium;

d) Normal Crown rent;

(e) Building covenant $300,000

(8)

Users restricted to purpose of a free school run by the Society named in compliance with the Education Ordinance and Regulations; Restriction against assignment;

Breach of any condition to entail reversion of crown land and building without compensation.

Society have already collected $750,000 for this school and hope to reach $1,000,000. This will pay for building and equipment and go a long way to provide Endowment Fund for annual upkeep estimated at about $70,000. will number about 300.

Pupils

4. Formal upset premium if land were auctioned would be $10.00 per square foot, but in view of charitable and educational nature of the scheme and fact that education at the school will be free, I strongly recommend free grant. Executive Council has agreed.

5. Grateful for early reply by telegram as Society anxious to do site formation in dry weather and complete

building before the beginning of school year in September, 1949. Society are prepared to pay telegraph charges.