Calendar: 1898-1899 Page 680

xlviii REPORT and the future reduced charge for interest it may be antici- pated that with some further increase in fees the College accounts will show surplus in future years The generosity of donor who prefers to remain anony- mous has reduced the debt of the College by £15 000 This splendid gift which was made expressly in view of the fact that the financial organisation of the College had been placed on sound basis has come most opportunely at time when its full benefit will be felt The same donor has also offered to meet any future re- payments of any portion of the College debt by contributions equal in amount Any friends of the College who may be disposed to aid in the further reduction of the debt may therefore do so with the assurance that their help will be doubled in its effect The Treasury having received the report of the Coinmis- sioners appointed to enquire into the work and requirements of the University Colleges of England have increased the annual grant to King's College by £500 viz from £1 700 to £2 200 While strongly of opinion that the College is fairly entitled to larger increase in its grant the Council are thankful to be thus enabled to supplement still further the remuneration of the professorial staff They have re-allotted the entire grant allocating seven-eighths of the whole to the augmentation of the stipends in Arts and Science The Council have the further satisfaction of announcing that the Technical Education Board of the London County Council augmented their grant for the past year from £1 000 to £1 500 This sum also has been allotted after providing for expenses incidental to the County Council Lectures and Scholarships to the Professors and Lecturers who have undertaken certain special courses approved by the Technical Education Board The increased grants from the Treasury and the Technical Education Board have raised the gross amount paid in stipends to the Professorial Staff by £800 above the amount paid in 1896 and by £1 200 above that paid in 1895 The salaries of the Masters in the School have not yet similarly benefited but it is hoped that the improving