CO129-625-6 Hong Kong University- endowment fund 1-5-1951 - 30-9-1951 — Page 27

OUTWARD TELEGRAM

FROM THE SECRETARY OF STATE FOR THE COLONIES

34/5

54147/1/A

0.T.P. CYPHER.

TO HONG KONG, (Sir A. Grantham)

Sent 20th August, 1951. 18.00 hrs.

No.979. SECRET.

27

Addressed to Governor, Hong Kong.

Repeated to Commissioner-General, South

East Asia No.378.

Your telegram No.858.

University Endowment Fund.

Personal from Sidebotham.

Begins.

1. In the circumstances we agree that whole of $16 million should be found from Japanese assets. We consider, however, that opportunity should

still be used to obtain additional funds by local subscriptions particularly as we understand from Morse that Jockey Club were considering endowing a library on condition that general public would also have access to it and when Endowment Fund proposals were originally raised had been in favour of contributing towards scholarships rather than to main fund. Lo thought that once it was clear that University was on firm financial basis business community would be the more willing to contribute and mentioned specifically a possible research scholarship. We therefore consider that in paragraph 2 of announcement after "... boys and girls" should be added "and that finance for other urgent needs of the University such as a new library and for the provision for further scholarships will be raised by local subscriptions."

2. We agree that local announcement is sufficient.

30

Secretary of State has seen and concurs.

Ends.