§ Mr. Parker
asked the First Lord of the Admiralty whether he will state the total capital and the latest annual income of Greenwich Hospital; the cost of the new Royal Hospital School; whether the 850 acres site was given free; what was the value of the estate left in trust in 1929 by the late Mr. Reade to complete the school and the probable value of this estate when available in 1940; and what are the reasons for the appeal to the public for £23,000 to build one of the missing hostels as a memorial to Admiral Jellicoe?
§ Mr. Shakespeare
The total capital of Greenwich Hospital is worth about £6,000,000, including lands and house property and the Royal Hospital School, whose capital cost was £1,077,000, exclusive of the site which was given free by the late Mr. Reade. The total estimated income of the hospital for the current year is £217,153. The value of the estate left in trust by the late Mr. Reade in 1929 for accumulation for the 2111W ultimate benefit of the hospital was then about £425,000. From the rate of accumulation its value in 1940 may be estimated at upwards of £750,000. Under Mr. Reade's will the trustees may decide to continue the accumulation until 1950. The appeal for funds to build a new Boys' House at the Royal Hospital School as a memorial to the late Admiral of the Fleet Earl Jellicoe is being made by the British Legion, with the concurrence of the Admiralty, as the most appropriate form for such a memorial to take.