Trustees Discuss Work During The Year With nine members in attendance, the sixth stated meeting of the board of trustees of the China Foundation for the Promotion of Education and Culture, was held at the, Astor House on Jan, 8, con~ tinuing throughout the day.' The Foundation is in charge of the second portion of the Boxer Indemnity Fund returned to China by the United States.
Those who attended included: Dr. Chiang Moulin, Dr. ©. C, Wo, Dr. Leighton Stewart, Mr, Bennett, Mr. J. E, Baker, Roger 8, Greene, Dr. Hu Shih, Mr.
C. Zen, Foundation director, and Dr. ¥.'R, Chao.
Following reports by the hun. secretary, the hon. treasurer, members of the executive committee, directors and auditors, five ques tions of public interest were dir= cussed.
The first was the acceptance of the final report of buildings committee of the National Library in Peking, which has cost the China Foundation the sum of $1,100,000 and operates annual budget of $400,000, The library, which was formally opened to the public lust Jane, is a striking example of modern Chinere. architecture, A vote of thanks the chairman, Dr. ¥. T. Tsur for his untiring efforts, followed the acceptance of the report, Due to the universal financial depression, the second subject cone sidered wan a proposal for safer guarding the investments of the endowment fund of the Foundation, 'A guiding principle w two-thirds of the investments. shal be im gold and one-third in slive This is in contrast to the form practice of making investments largely in gold.
Thirdly, @ special financial ad view ory committee in Shanghai was created to act regarding matters of investments in international markets, Mx, C, R. Bennett, of the National City' Bank; Mr. Sha Single, of the National Commer= cial' Bank; und Mr, ¥. C. Koo, of the Chung' Foo Union' Bank, were elected as chayter members of this committee, The fourth consideration dealt with an additional fear ing tend, ce se oar: earch engineering bubaing st the eae: mia Sinica, The grant, in addition to the first one for @ million dollars, was for $60,000, Owing to financial difficulties at the National University of Peking the ce-operative arrangement, passed at the last annual meeting 0 the Foundation and dealing with foundations for" research "fellow. ships in the university, is in danger of collapse, This is due to the fact that the university has failed to pay its shure toward the ce-oper tive Lund, $400,000 per annum for ting years Half of this encunt was to be. pal the university and teh other half by the Foundation, Regardless of the fact that th university' haw failed to pay ied that the Foundation shouts pay the remainder of its share of the fund for the year, $125,000, $76,000 has aids
Text read from the printed page and cleaned; old type leaves the occasional error.