THE MACARTHY ESTATE.

Auckland Star, Volume XLIII, Issue 201, 22 August 1912, Page 5

THE MACARTHY ESTATE.

OVER HALF A. WUIOK. EDUCATIONAL AND OBAIUTABLB ISGAfiEES. (Br Telegmi*.—Press Aeeoetatkra.) yj Ml .T.rKfyiTXV, Wednesday. It is understood that the late Mr T. G. Macarthy left property valued at £800,000. He leaves to his widow property estimated to produce an annual income of £15,000. The testator, after providing legacies for relatives and some employees, devotes the balance to education and charitable ympoaem. The trustees are the Governor, the Prime Minister, the Mayor of 'VWEngtan. and Archbishop Redwood.

WEEiUEBQIOK, this day. The late Mr T. G. Mac*rtbyß will has 'been sworn for probate purposes at half a million by the Public Trustee, but the real value of the estate will not be known until a fresh -valuation has been made by officials of the Probate Office. The Court was applied to for probate yesterday, tout, under the rale providing that probate cannot be granted ■within a week of death., the application was deferred. It is expected that a special Act of Parliament will be n«'i««.ij to enable the provisions of the will an to educational and charitable purposes to be carried out. After the death of th» widow the property bequeathed to hex; ie also to !be applied to the same purpose.

DETAILS OK '''** "'■ BBQfDESES. CHARITIES TO BE SiJJLECTKD KE TRUSTEES. J (By TeteewpJi.— HmnimiXni.y ■} 7 WELLISGTOS!, this d» j- v The late Mr. Maearihy tame the MIcfwing bequests: —Mrs- Charlotte Noad"* London (niece), £5,000; Annie Totmae (her sieter), £5,000; Edith (daughter of Samuel Gilmer), £1,000; Gemldkm and. Kathleen Henry (daughters at the* late Dr. Henry), £1,000 cadi; Mother. Mary Aubcrt, £1,000 for her charrUbla institutions; Mrs. Batkin, £1,000; to charitable institutions of Geekng, £1,000; to his -wife, annuity of £1,200? to his sister-in-law, . £300; to hie mother-in-law, £100; to bis carter, £130, and to bis widow sftec To his wife he leaves ail furniture, effects, jewellery, etc, and two honees in Boulcott Street, the (proceeds from which are continued to ber husband and children, if the widow remarries. Dm residue of the estate is entrusted to the Public Trustee, who ie bo pay one half the annual income to Mrs. Macarthy, and after her to her husband and children. The other half is to be applied to educational and charitable parposes in the province of Wellington. The Public Trustee is to pay the income to a Board of Trustees, who will have the distribution thereof. The testator declared by his will that he hoped to execute a further will, giving details as to these charitable bequests, but if. he failed to do so, the Board was to have absolute discretion. The Public Trustee Is given wide powers for the management of the property. It is also provided that after Mrs- Macarthy's death the capital of her half shall follow the destination of the residue.