NEW SCHOLARSHIP

Otago Daily Times, Issue 26853, 18 August 1948, Page 8

NEW SCHOLARSHIP

SAVINGS BANK ACTION

The trustees of the Dunedin Savings Bank yesterday advised the council of the University of Otago that they had decided to endow a commerce scholarship in the University, and submitted a number of proposals. The council agreed to the proposals, and expressed appreciation of the scheme. It was pointed out in the letter from the trustees that the sum of £llOO had so far been paid to the University. This would be increased to approximately£3soC in the next year or two, and the scholarship would then become available. The trustees further stated that they could not cohrmit their successors to any proposition.

The terms of the scholarship will make it available to holders of the degree of Bachelor of Commerce living within 10 miles of Dunedin. It will be known as the Savings Bank Scholarship in Commerce and will be of an annual value of £IOO, granted to a person proceeding overseas to gain further experience. In reply to a question regarding the small amount of the award when overseas study was involved, Mr Carl 'V Smith said that most winners of the scholarship would be employed by Arms which ‘would probably pay their wages while away.