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Endowment of the Ashburton Home.

,;■ The late Mft Stephen Cole Moule, of Elmdonlee, Prebbleton, has made a generous and munificent bequest to the Ashburton Old Men's Home. By the terms of the will, after provision is made for the late gerttloiriaii's wife suid son, the remainder of the income from the estate is to be capitalised. At the expiration of the two. life4nterestajb)efore-menbionecl {i.e. at the marriage or death of fhe wife and the death of the son^the whole of the net income of the estate is w be devotod to the maintenance and benefit of the Old Men's Home. The condition under which the bequest is made is s that an aunual payment is to be made out of the consolidated fund of the Colony of 10s m the £ for every £1 of annual incomer front theestate to the extent of £500 of the income, or, m, other words, the Government is to contribute £250 a year. The net income from the trust estate is to be deemed a separate bequest for each year. The estate was sworn at under £20,000, and, taking into account the accumulations that will accrue during the life-time of the deceased's relatives, who are legatees, it is expected that the income which, by the late Mr Mould's munificent gift, will accrue to the Home, will be equal to* £2000 per annum. Provision is made for the cantinUaticeof the bequest to the Old Men's Home should it at any time be removed from Ashburton to any other place m Canterbury. Probate was granted to Messrs J. W. Overtoil and Robert M'Gregor, theezecu'tcirs.namedin the will, on Friday last, upon the application of Mr Joynt.—" Lyttelton Times."

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG18901015.2.8

Bibliographic details

Endowment of the Ashburton Home., Ashburton Guardian, Volume VII, Issue 2544, 15 October 1890

Word Count
280

Endowment of the Ashburton Home. Ashburton Guardian, Volume VII, Issue 2544, 15 October 1890

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