Lincoln on target

Press, 7 November 1978, Page 3

Lincoln on target

The first interim target of $200,000 has been attained by the trustees of the Lincoln College Foundation in their appeal for funds. Rev.e-; nue from the capital sum will be used to encourage] and extend New Zealand’s;, study, research and teaching in agriculture and horti- ■ culture. The initial campaign fori funds was directed towards; New Zealand businesses and'; so far $202,453 has been! contributed in cash and promises. The trustees had : up to $15,000? already in interest from investment's to make available for first year" awards, said the chairman of the board of trustees, Mr D. W Bain, yesterday. The foundation. estab-■■ lisiied by Lincoln College to

mark its centennial year, recently sought applications from people who felt that: they had a contribution to make in the development, of (New Zealand’s agricultural, horticultural and other nat- | ural resources and who required finance not otherwise available to them for their work. “The trustees are examining the 35 applications reiceived from as far distant as 'Southland and Northland. They hope to announce the ■ first recipients soon,’’ said Mr Bain. In addition to the first $200,000 from business firms which will yet by augmented by additional contributions from similar sources, the vesting by Lincoln College of residential land in Lincoln township into the name of

the foundation is progressing. This change is now subject only to the approval of certain statutory local body and other authorities. The land is expected to produce a capital sum of $250,000 in coming years. A number of substantial contributions have already been promised .also by individuals, and the Lincoln College Old Students’ Association has now launched its major campaign throughout New Zealand. The trustees report that they feel they are within sight of the first half-million dollars which will be the nucleus of the foundations major educational trust.