[456B] Wt. 32483, 800 100m. 11/48 C.N.Ld. 748
2 Drafts.
54147/1/2/50
14
Hall
14/12
C. O.
Mr. Thirclough (3/2
Mr. Winon
Mr.
Mr Adams
Mr Sidebathaan
Permt. U.S. of S.
Parly. U.S. S.
Mr. Labor
ace
Mr. Robin
muilt
19m
Minister of State
Secretary of State
Your Reference..
STORY AND TERSALL
DRAFT. s/o letter
J. F. Hicoll, C..C.,
Colonial Secretary,
Hong Kong.
FURTHER ACTION.
H
For Mr. Sideboth's sign ture.
(5)
Dear Nicoll,
In your letter to be of 5th October you
mentioned the question of the endowment fund for the
University and your hope that we wouldgree to the
investment of £t million in local utilities, thus
meeting the University's needs without having to
search around for the extr: 3000,000 which would be
necessary if all of he fund wore to be invested in
lt-edged stock.
Te have coneldered this matter here very
carefully and a savingram is now on its way in reply
to your telegram No. 1135 in which we suggest that
250,000 of the fnd should be invested in gilt-edged
stock and that only over and above this sum should the
fund be invested in the utilities. This letter is
to let you know for your own personal information
some of the reasons in addition to those mentioned in
the sevingrom which have led us to make this suggestion.
Briefly and apart from considerations of
purely financial prudence the min reason which has
influenced us is that in the present troubled
situ tion in your part of the world it is only too
possible to visualise a situation arising in which
the University could not continue its teaching in
Hong Kong and would have to migrate temporarily; in
Jorder
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