Note 24 — Chapter II · EDUCATION.

The purchase value of the property was £110,000, yielding an annual rent of £3,700. £60,000 was spent upon the building and furnishing. The total amount of the benefaction will, in the end, approach £200,000. As early as 1882, however, we find that the Council “view with regret the narrow margin that is likely to exist unless the present endowment is supplemented by other gifts,”—[Report, p. 11.]—and this anxiety is again forcibly expressed in 1885. It was relieved in that year, however, by an “Additional Endowment Fund,” the subscriptions to which reached £4,855.