In respect to 1935. the Japanese Residents' Corporation had applied for an increased grant of $00,000 and stated that this was made up as fol~ Tows:—Interest. at 4 per cent. per annum on loan. of $000,000 raised during the second half of 1934, $36,000; half the estimated defeat on working count for 1985, $24,000, 'The Treasurer and Controller point ed out that the Council's Tetier of March 8, "1084, referred to interest charges on new construction as a form fof expenditure that might reasonably be taken into account when considera~ tion' was given to grants-in-aid. was disclosed. in the application that of the $900,000 raised the sum of $420,000. was used to redeem an old toan and that it was proposed 10 use the balance of $480,000 for capital extensions. Four per cent, on the latter Agure amounted to $19,200, and as the 1084 meant of $118:000 included $20,000 respect {0 interest charges, 1t was apparent that favourable consideration could not be given to a claim for further financial assistance in this connection.
Tu regard to defrayment by the Council of half the estimated deficit on working account for 1935, the expenditure included an item of $60,000 described as expenditure for exten-slon works. Transfer of this flem to the Corporation's Capital Budgot—which appeared 10 be justified—would correspondingly relieve the working account.
While the Treasurer did not con sider that adequate grounds existed for the la sue of an additional grant of $00,000 or any. approximation thereto, he was, nevertheless. opinion that it would be reasonable for the Council to take note of the inereage in enrolment in the Japanese Schools in 1088 as compared with 1934 and to recognize this by some mea-ire of increased ancial support. He recommended that the grant to the Japanese Schools be increased by $10,000 as compared with the amount lustied in. 1034. The 1085 grant would then be $128,000 and the total grants all grant aided schools for foreign children would amount to $168,000, a sum of roughly 30 per cent. in excess (of the 1684 appropriation.
After discussion, " the Education. Board recommended the Council to make the grants set out above.
Text read from the printed page and cleaned; old type leaves the occasional error.