CO129-625-6 Hong Kong University- endowment fund 1-5-1951 - 30-9-1951 — Page 23

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SCHOLARSHIP FUND FOR HONGKONG

From Japanese Assets

HONGKONG, SEPTEMBER 6.

The Hongkong Government to-day announced that Japanese assets here, estimated at more than $20 millions (about £1,250,000) would be available for distribution under the terms of the Japanese Peace Treaty. The Secretary of State for the Colonies, Mr Griffiths, in consultation with the Governor, Sir Alexander Grantham, has decided that £1 million will be used to start an endowment fund for Hongkong Uni- versity. The fund will help to provide scholarships for local boys and girls.

The announcement said Mr Griffiths had suggested that a certain part of the asssets should be made available in order to help small Western Pacific territories which have no Japanese assets, which suffered in Japanese occupation.

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In Singapore to-day it was announced that the British Government would not make any claims on Japanese assets held in British South-east Asian terri- tories. Such assets, said the announce- ment, amounted to many times more than the total of Japanese assets in Britain. Earlier this year Mr Morrison, the Foreign Secretary, announced the Government's revised propsals for dis- posal of Japanese assets in Britain, which he estimated at about £1,250,000. He proposed to arrange for the sum available in Britain to be used for the betterment of former prisoners of war and civilian internees who were suffer- ing hardship.

To-day's statement said the war damage scheme in Malaya would absorb about £7,000,000 of Japanese assets in Malaya.-Reuter.

Me Line ootham. FRHAD aura,

MR R. J. Harvey. rz Grover.

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