OVER £61,000.

Auckland Star, Volume LXVII, Issue 181, 1 August 1936, Page 22

OVER £61,000.

CRIPPLES FUND.

SATISFACTORY FINANCES

LORD NUFFIELD SATISFIED

Details of the financial position of the New Zealand C'tippled Children's Society are given in the report which will be presented to the first annual meeting to be held in Y\ ellington on August 4. It was stated that the total capital of the trust now stood at £01,230, while the Wilson Ilomc maintenance endowment fund amounted to £21,738. Finances are stated to be in a satisfactory position. The original gifts. of £.">O,OOO and £10,000 from Lord Nuffield have been supplemented by other donations and amounts received from the various Mayors' appeals, to the extent of £1230 8/9* and the total capital of the trust now amounts to £01,230 8/9. the report states. Branch members will be aware that this capital fund lias been created a perpetual trust, and that only the income therefrom each year is at the disposal of the New Zealand Society for distribution to branches. While under the trust deed there is power to encroach in special circumstances on the capital of the trust, this is entirely in the discretion of the trustees, who arc the Rt. Hon. Sir Michael Myers, P. 0., K.C.M.G. (in his absence the Hon. Sir John Reed), Sir James Grose, Sir Donald Gavin, Mr. C. J. B. Norwood and Mr. J. M. A. llott. Income of £1300. The income received by the New Zealand Society for the past year from the trust is £1300. Before making tlie distribution the executive considered it advisable that delegates should have the opportunity of expressing the views of branches on the matter for certain reasons. No branch is actually in need of funds; the distribution is a little complicated this year by the difference in destination of the various Mayors' appeal funds, by the disposal of income from the £10,000 for maintenance of cripple homes in New Zealand, and by the income received by six branches from the exhibition of Titania's Palace. The question of distribution of the Nuffield Trust income this year will conie before the annual meeting.

The executive was pleased to receive from Lord secretary a reply stating that Lord Nuffield was very gratified and interested to read of the progress which was being made in connection with the administration of the gift which lie had made a year ago.

The Auckland branch is engaged in a campaign for raising funds as an endowance of the Wilson Home, so that it may be in a position definitely to accept the offer before the end of the year. In cash and promises, including those from the Wilson family previously referred to, these maintenance endowment, funds (at June 30) amount to £21,737 11/ S.

The report adds that in all the sum of £3220 was received as the result of the exhibition through the Rotary Clubs of Titania's Palace.

Accounts for the year showed a satisfactory position. Revenue amounted to £1531, while expenditure was £72. The balance-sheet showed that the accumulated fund stood at £1459.