in those early days the revenue of From inquiries it appears that the University was made up as follows: (a) income from endowments; (b) student's fees, and (c) an-annual grant of $10,000 from the local government. The foes for each student then as now were $300 a year for tuition and $240 a year for board and lodging. That total sum was. of course, insufficient to cover the cost of training a student, but it is not without interest to note that the $240 per annum is sufficient to cover the cost of lodging and boarding a student at the University. Also it should be noticed that although $510 a year is considerably less than the cost of education in Europe or America for a Chinese student, yet it is very much more than the fees of any other college or University in China. On the other hand the staff of the University were all appointed in England and the policy from the beginning was to offer such emoluments as would: attract well qualified professors and: lecturers.
Although the revenue was very limited during those first few years, the outlook was encouraging. Manufacturers in Great Britain, as a result of a campaign in that country in 1913, donated machinery and equipment then worth about £15,000 but which would now cost probably £40,000. Wealthy donors added to the endowment fund. Mr. Loke Jeow, Mr. Cheung Pat-sze, Sir Robert Ho Tong, Messrs. Ho Took, Chen Kai-ming and Ho Hoon-tong all gave donations of $50,000 or more. The first named donor presented half a million dollars on loan but without—interest for a period of 21 years. An actuarial friend has estimated the cash value of that gift as $300,000. Of the other money donated $159,000 was ear-marked for new medical buildings and equipment and therefore did not increase the endowment fund.
Text read from the printed page and cleaned; old type leaves the occasional error.