NEW "GREENWICH."

Auckland Star, Volume LXIV, Issue 204, 30 August 1933, Page 9

NEW "GREENWICH."

TRAINING FOR NAVY. LATE MR G. S. READE'S GIFT. OPENING OF BUILDING. It was due to the generosity of the late Mr. G. S. Reade, who lived in retire- ' ment in Auckland until his death, that the new "Greenwich" in England was possible. All through his lifetime Mr. ■ Reade took a keen interest in the British Navy, an interest which he showed in a practical way by the gift of 850 acres of land at Holbrook, Suffolk. This is the home of the new "Greenwich," where boys will be trained for the Royal Navy. Last month the Prince of Wales opened the new buildings of the Royal Hospital School. The boys from Greenwich moved to their new school in April last. At the time that the late Mr. Reade made the gift of land, the fact vras unknown outside official circles, but his munificence became known when the Duke of York laid the foundation-stone of the Royal Navy Hospital School. Mr. Reade, who lived many years in Auckland, made a fortune in India as merchant and planter, and was attracted to New Zealand by its fishing. It was in 1922 that he decided to make the gift of land for naval purposes, and later he made a big endowment, which enabled the British Admiralty to proceed with the buildings. j Under the endowment Mr. Reade stipulated that at the end of eleven years, no matter what the endowment fund amounted to, the eum of £100,000 should be set aside and reinvested permanently for four periods of fourteen years each. It was estimated that at the end of the full period the fund would exceed £1,500,000. His idea was that the endowj ment should continue until the principal sum produced enough entirely to support the school. Mr. Reade steadfastly refused to I accept anything in return for his great I generosity.