UNIVERSITY DEBT EXTINCTION.

Evening Star, Issue 11695, 29 September 1902, Page 4

UNIVERSITY DEBT EXTINCTION.

THE ‘STAR’S’ SUBSCRIPTION LIST. A GOVERNMENT SUBSIDY OP £2 FOR £L [SrxciAi, to Tins S*as.] WELLINGTON, September 29. When the public were first .appealed to* to subscribe funds to tide the Otago University over its pressing needs the ActingPremier promised a subsidy of £2 for £1 up to £SOO, and when this amount was raised within forty-eight hours' by the ‘Star* the Government offered to increase the grant to £1,500 provided that £750 was subscribed by the people of Dunedin. Our list closed with £B2O. I now learn that the Cabinet has agreed to >nppiement the whole amount by a subsidy of £2 for every £1 raised. Accordingly the sum of £1,640 will be provided on the Supplementary Estimates for this purpose. [This will make a total sum of £2,458 10s as the outcome of our appeal.—Ed, E.S.]

At a meeting of the Exf-cutive of the University Endowment Committee (Mr Jchn Roberts, G.M.G., in the chair) reports were received from the sub-com-mittees which showed that the collecting was progressing favorably. The managing director of the ‘Otago Daily Times’ Company wrote enclosing a cheque for £1,260 8s od, being the amount of subscriptions so 4ar given through his company. It was resolved thac the funds collected should be iriested in Government 4 per cent, bonds, a course that will also be followed in cononection with the promised Savings Bank grant when it ,is received. We observe that our Queenstown contemporary has opened a subscription list—an example that might well be followed by the provincial Press—and th&t the following donations have been received:—Dr Douglas, £5 ss; L. Hotop, £2 2a; F. St. Omar, J. Wither, and R. Johnson, £1 Is each.