CO129-625-6 Hong Kong University- endowment fund 1-5-1951 - 30-9-1951 — Page 51

Suggested by Mr Adams,

DRAFT

27 51

The University of Hong Kong has recently sought

assistance from H.M.G. towards the creation of an Endowment

Fund of £1 million for the University.

As has recently been announced, the Japanese

assets in the territories which were over-run by the Japanese

will be placed at the disposal of the Secretary of State for

the Colonies to be applied for the benefit of all the

territories so over-run.

After consulting the Governor of Hong Kong the

Secretary of State has decided that a sum of £750,000 out of

the assets so made available for the benefit of Hong Kong

should be contributed by H.M.G. towards such an Endowment Fund

in the confident expectation that the balance of £1 million

e for this extremely important purpose required will be raised by local subscription + The Secretary

of State has expressed the hope that a proportion of the mumi

endowment fund so created will be applied towards the provision

annually of an adequate number of scholarships at the University

for the benefit of the general community of Hong Kong.

from. the

+ Redraft suggested by Mr. Sloss :

The Secretary of State has expressed the hope that part of the

endowment income will be used to provide a substantial number of

scholarships for the benefit of the general community of Hong Kong,

to ensure, as far as possible, that no Hong Kong resident of proved

ability shall be deprived of a University education merely by lack

of means.