Nanking, June 1. The following statement, regarding tration of the indemnity "funds Te-mitted by the British Government, was Issued to-day:
"Three years have elapsed ever since the formation of the Board of Trustees for the administration of the indemnity funds remitted by the British Government. In accordance with. the resolution of "the Central Political Council and the Notes exchanged between the Chinese and the British Governments, the funds un-dor the control of the Board are to employed to establish an endowment for the rehabilitation of rally ways and other constructive works Ju the form of loans, while the interest of 5 per cent. on the loans is to be used for the subvention of educational end cultural enterprises.
"The aforesaid interest funds, up to June 20 this year, amount to '$1,897,580.00. The "Educational Sub-Committee of the Board of Trustees libeld a three-day session last month and carefully considered, one by out all the requests for subsidies received from educational and cultural institutions since the inauguration of the board. It was resolved by the said Sub-committee that a round sum of $1,200,000 of the interest funds be used as various subsidies accordance with the regulations! governing the disposal of interest of the indemnity funds remitted by the British Government, which regulations had been approved by the Executive Yuan, and that an amount of approximately $130,000 be used to form a special reserve fund which will be given for the work of special education, At the 24th meeting of the Board of Trustees, the report of the Educational Sub-Committee was Aiscussed in detail and it was unanimously passed. The approximate amount for disposal and distribution as follows:
Text read from the printed page and cleaned; old type leaves the occasional error.