COMMUNITY VENTURE
Trust Operates Business
( N.Z. Press Association) NEW PLYMOUTH. Feb. 7. A 50-year-old New Plymouth business has been taken over by a trust company in a community venture. The whole of the net profits of the trust are to go to approved charities. The firm purchased by the trust is McNeills (New Plymouth), Ltd., which deals in groceries, hardware, crockery, grass seeds, fertilisers, and general merchandise. The new company will be known as McNeills Community Service Trust. Its object is to devote available funds to charitable projects in New Plymouth and the surrounding districts. A statement from the company says the trustees and directors will receive no cmuneration for their services and will derive no benefit from their shareholding. On the application of the company, the GovernorGeneral, by Order-in-Council. has directed that the company be registered without the addition of the word “limited,” making it in all respects what could be termed a complete trust. •
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Bibliographic details
Press, Volume CI, Issue 29742, 8 February 1962, Page 18
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156COMMUNITY VENTURE Press, Volume CI, Issue 29742, 8 February 1962, Page 18
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