T. G. MACARTHY TRUST

Dominion, Volume 21, Issue 245, 17 July 1928, Page 10

T. G. MACARTHY TRUST

£14,500 ALLOCATED'FOR FIFTEENTH YEAR CHARITABLE AND EDUCATIONAL INSTITUTIONS BENEFIT

With the allocation yesterday of £14,500 for the current year, the total sum allocated by the T. G. Maearthy Trust Board for chaiitable and educational purposes during the fifteen years since the inception of the Trust was brought up to £123,527.

One of the most important charitable trusts administered in tlie Dominion is the. T. G. Maearthy Trust. It is fifteen years since the inception of this trust, which arises out of the will of the late Thomas Georgs Maearthy. During the period of its existence there I has'been allocated from its revenue the sum of £123,527 for charitable and educational purposes. This year the record j sum of £14,500 is being distributed. The . allocations for each year since the_.coni- ' mencement of the trust are shown in the 1 following table; —■ . £ 1013 ....'2,530 . 1014 7,325 . 1015 7,070 ' 1916 6,886 1917 5,790 1918 5,112 1919 6,545 1920 6,785 1921 6,860 ' ‘1922 9,015 , ■ 1023 .. ...... 9,350 1924 10,125 j 1 1925 12,040 1 102 G . 13,600 , | ' 1927 14,500 £123,527 j THIS YEAR’S OPERATIONS !■ The annual meeting of the board of (• governors of the T. G. Maearthy Trust was held in the Executive Council Boom, Government Buildings, yesterday. There were present: His Excellency the Gover-nor-General (Sir Charles Fergusson), the Prime Minister, (the Right Hon. J. G. i • Coates), His Grace Archbishop Redwood, His Worship the Mayor (Mr. G. A. Troup), the Public Trustee (Mr. J. W. ! Macdonald), chairman of the advisory committee to the board of governors, was 1 also present. ' In submitting his annual report and i/ balance-sheet in respect of the administration of the trust, the Public Trustee reported that the operations during the year under review had again been most , successful, and that the net income ' had shown a considerable increase over last year’s record figures. In determining the amount available in terms of the late Mr. Macarthy’s will for charitable and educational purposes, a the Public 'Trustee explained that certain assets in the estate are held on special trusts, and that the net income arisj ing from these is not available for disfri- ! bution each year to charitable and edu|r rational institutions, and is not included in the figures for the year. Moreover, until the termination of certain life inf terests granted under the will, only one- , half of the income from the residuary estate is available for distribution for charitable, and educational purposes. ■ Despite the heavy burden of land tax ; and rates, by developing the assets and ■ ensuring that the maximum returns are I derived from them, and by careful handling, the year’s operations have been once more very successful. The trust being a long-continuing one ihe conservation and development of the i assets with a view to increasing the pre- ! sent income, and ensuring that the earning power will be in no way diminished in the future, are very important factors in the administration of the estate. During the year extensive alterations and additions -were made to one of the i estate properties, with the result that ! the income from this asset has been increased greatly. In another case old buildings which had outlived their usei fulness were demolished and a new structure erected. In both these cases the i properties were situated on main thor- ' oughfares, and the renovations and new premises provided up-to-date shops. Portion of the increased revenue was disclosed in this year’s profits, and it is hoped that the full benefit of the expenditure involved will be revealed in the coming year’s figures. Once more, by means of the facilities ‘ which his office affords, the Public Trus- ; tee has been able to finance the estate I and readily provide it with all the funds required for the necessary expenditure .Which has arisen during the year. City and Phoenix Brewery. This was carried on by the testator in the lifetime, and’ the Public Trustee ‘ continues to run it on behalf of the ! estate. The result of the year’s trading is gratifying. There has been a further sub- ■ sdantial increase in the sales of “Red Top” ale and “Brown” stout, and a record profit for the year is disclosed. The' improvements effected to the brewery premises during the preceding year, and the ; efficient management of the business, have to a large extent been responsible for the ’ highly-satisfactory results which have ; been achieved. j, ; Recently there has been placed on the - market a new product of the brewery, to which the name “Fifty-Fifty” ale and stout has been given. There is consider- . able demand for this, and the results' to date are very encouraging. i Applications for Financial Assistance. _ The usual advertisement inviting applications for grants brought forth a record number of 143, of which 29 were new- applications. Last year 120 applications were received. His Excellency the Governor-General, on behalf of the Board of Governors, and with the approval of each member, ex- ; pressed his appreciation of the capable ; and efficient manner which, in the opinion of the Board of Goyernors, the Trust and its functions were managed and carried out by the Public Trustee. THE YEAR’S GRANTS The Public Trustee reported that the ! advisory committee had held its annual ; meeting, and had recommended the distrif bution of the sum of £14,500. This coni etitutea the largest amount that has been I recommended for distribution in any one | year since the inception of the trust. The advisory committee’s recommenda- ; tions were adopted by the board of gover- | nors, the grants being as follow. (Last year’s donations are shown in parentheses, and where no comment appears no application was received. “N.A.” signifies “new application”) :—

Total .. u ..£14,500 /■ c

PAYMENT OF GRANTS DONATIONS are available IM- . mediately. The Public Trustee announces for general information that the amounts donated above may be uplifted to-day throughout the Wellington provincial district. Wellington city applicants should apply at the office of the District Public Trustee. Applicants on behalf of institutions situated outside Wellington city should apply at the local office of the District Public Trustee or District Manager as the case may be. In those townships where the Public Trustee has no representative, application should be made nt the nearest Post Office. The 1 üblic Trustee has dispatched appropriate notices to all concerned. THE ORIGIN OF THE TRUST As stated before, the Trust arises under the will, dated May 19, 1.106, ot the late Thomas George Maearthy, of \\ ellington, brewer, who owned the City anil Phoenix Brewery, now conducted by the Public Trustee as part of the assets of the estate. The deceased lived in Wellington for many years, and died on August 19, 1912. The will appoints the Public Trustee of tbc Dominion sole executor and trustee. . • After payment of certain annuities, one-half of the annual income from the residuary estate is paid to a life tenant in terms of the will. The remaining moiety of the annual income of the residuary estate is distributable each year between charitable and educational institutions or purposes in the provincial district of Wellington at the discretion of a special board of trustees mentioned in the will. On the death of the life tenant the whole of the capital and income of the estate, subject to any annuities still payable, becomes available for the said charitable trusts. The final balance of the estate for duty purposes was £359,689 17s. Bd. Legacies amounting to £16,001) were paid under the will, and estate and succession dut.v amounted to £63,101 16s. Bd. The will directs that the board of trustees shall be: His Excellency the Governor-General, the Prime Miuister, the Mayor of Wellington, and the Roman Catholic Archbishop of the Archdiocese of Wellington. Under the Thomas George Maearthy Trust Act, 1912, the Board of Trustees named in the will was incorporated under the title of “The Board of Governors of the Thomas George Maearthy Trust,” with perpetual succession and a common seal. The Act clothed the board of governors with additional powers and rights deemed expedient and proper, to facilitate the effectual carrying out of the trusts of the will. It also gave the board of governors power to appoint an . advisory committee, the function of which is to examine applications for financial assistance received from charitable and educational institutions entitled to apply, and to recommend to the board of governors the distribution of the sum available each year. Up to August, 1921, the advisory committee consisted of Sir. C. P. Skerrett, K.C. (now Sir Charles Skerrett), Mr. E. P. Bunny, and the late Hon. J. G. W. Aitken, M.L.C. The board of governors on August 2, 1921, after the death of the Hon. J. G. W. Aitken, resolved upon the reconstitution of the advisory committee, and the following constitute the new personnel: Sir .Charles Skerrett, Mr. A. R. Atkinson, Sir. E. P. Bunny, My. G. A. Troup, Lady Luke, C.8.E., and Sir. J. W. Slacdonald, the Public Trustee (chairman). On his election to the Mayoralty, Mr. Troup became es officio a member of the board of governors, and accordingly, has not since sat on the advisory committee. On February 24 last, Mrs Henry. Hall, of Wellington, was appointed by his Excellency the Governor-General to nil the vacancy. ASSETS OF WHOLE ESTATE AT DATE £ 1. Freehold properties: neo (a) Licensed premises ...... 09,98 U (b) Shop properties in Weihngton city 82,‘i-xU (c) Other business and residential properties iu Wei- • _ lington city ........... S6,i6l> (d) Properties situated out- _ side Wellington city .... 1a,892 2. Shares in companies registered in New Zealand .... 14u,13b 3. Debentures - 12,980 4. Mortgages on security of freehold property .......... 32,323 £415,51G (Only one-half of the income of the residuary estate is distributed to charltJThe said assets are unencumbered except to the Public Trust Office as security for amounts advanced by the I üblic Trustee in respect of financial assistance afforded to the estate. Under the terms of the will the whole control and management of the estate is vested in the Public Trustee, the only duty of the Advisory Committee and of the Board of Governors being to meet annually and sanction the grants made to institutions out of that portion of the income which is devoted to charitable and educational purposes.

After-Care Association for D Mentally Defective Chiidren, Wellington All Saints’ Children’s Home, Nil N.A. Palmerston North Alexandra Homo for Young 200 (200) *. Women 350 (300) ; Anglican Boys’ Home Soclety, Wellington Anglican Church Committee, 400 (350) . Kata ■■............... I Bov Scouts' Association, WeiNil N.A. lington 150 (J50) [ Boys’ Institute and S. A. Rhodes Homo for Boys ... 750 (750) Boys’ Orphanage, Nal Nai .. Brigidlne Convent, Carterton ‘500 (500) 50 l50> Brigidlne Convent, Foxton .. British Sailors’ Society, Wei50 (50) .(300) (100) 200 | British Red Cross Society, Wellington 150 ! Catholic "Presby tery, 0 tak i.. ' Catholic Primary School, Nil Mil N.A. N.A. Waiwetu, Lower Hutt .... Citizens’ Day Nursery, Wei350 (300) Nil (100) Convent'of Mercy, Brougham Nil ; Convent ol.’ Mercy, Marton «« 40 (40) Convent of Mercy, Palmerston 100 (*«*) [ Creche, Buckle Street i Convent Primary School, 125 (125) Convent gpiiuol, Detune .4* 1145)

Discharged Prisoners’ • Aid 200 (130) Dlstrict'NiirsiuB Guild o£ St. John, Wellington 100 (100) Feilding District Nurse As100 (75) sedation Girls’ Friendly Society, MelNil lington —— Girl Guido Association, WaN.A. nganui 10 Girl Guides’ Association, Wei50 (50) lingotn Home for Destitute and Or(200) phan Boys, Island Bay .... 200 Home for Destitute and Moth200 (200) erless Children, Wellington Home of Compassion COO (500) Home of Compassion Trust Nil Board (See above) Home for Incurables •150 (100) Karitane Hospital, Welling(250) ton 100 Lewisham Hospital, WclNil (Nil) lington Levin Memorial Home, WclNil (200) lington Marist Brothers’ Primary 50 (50) School, Tasman Street .... Marist Brothers’ Primary (50) School, Hawkestone Street. 50 Maternity Home, Kensington (200) Street 200 Maori Mission Building 1 und, Nil N.A. Otaki . Mothers' Helpers, Wellington 200 (150) National Art Gallery, Mus500’ N.A. euni and War Memorial .. (To be paid over at the Public Trustee’s discretion.) Navy League, Wellington .. 75 (50) New Zealand Academy of (200) Fine Arts 200 New Zealand Amateur Swim- , mlng Association (Wellington Centre) ..... N.A. New Zealand Free Ambulance Transport Service (Wei150 N.A. lington District) .......... New Zealand Nurses’ MemNil 1 N.A. orial Fund Northland Convent Primary 50 (50) Pauline Rescue Home, Wei500 (250) Plunket Society, Carterton .. 00 .*• Plunket Society, Eketahuna 35 (25) (50) Plunket Society, Featherston Plunket Society, Feilding .. GO Plunket Society, Foxton ... GO (25) Plunket Society, Greytown . •>) Plunket Society, Levin .... (50) Plunket Society, Lower Hutt Plunket Society, Masterton . GO 60 (50) Plunket Society, Palnatua .. <u0) Plunket Society, Palmerston (100) (100) Plunket Society, Petone .... 110 Plunket Society, Shannon ... Plunket Society, Walmarlno 60 (Nil) Plunket Society, Wanganui . Plunket Society, Waverley . Plunket Society, Wellington Nil 600 N.A. (500) (25) Plunket Society, Upper Hutt . 60 Plunket Society Building N.A. Fund Committee, Leyin v 25 Pongaroa District Schools Central Library Nil N.A. Pongaroa Maternity. Hospital Polynesian Society, WellingNil Nil N.A.Rangitikei Schools CentralNil 400 N.A. (350) Library Association. Marton Residential Nursery, .WellingRoman Catholic School, Otaki Nil Royal .Life Saving Society, 25 Palmerston North ._.. .. • ■ • (Nil) Roval Life Saying Society, 50 (50) Wellington Sacred Heart Primary School, -50 (50) Guildford Terrace Sacred Heart Native School, (Nil) Ranana *>□ St.'Anthony’s Primary School, 50 (50) Seatoun St. Barnabas' Babies’ Home Society 175 (165) St.'Brlgld’s Convent, Manga■weka — St. Catherine's Convent, Kilbirnie 50 (50) St. Joseph's Convent, Jerusalem 50 (50) St. Joseph’s Convent, Otaki Nil St.'Joseph’s Convent. Taihape St. Joseph’s Girls’ Parochial •— 50 (50) School, Buckle Street .... St. Joseph’s Orphanage, Upper Hutt . 700 (GOO) St. John Ambulance Nursing (25) Guild, Palmerston North . 2o St. John Ambulance Associa(25) .tlon, Wanganui St. John Ambulance Associa100 (50) tion, Wellington St. Madeline Sophie Barat 50 (50) Convent School, Island Bay St. Margaret’s Parish School, Taihape 25 (2u) St. Mark's Church School, Nil Wellington (75) St. Mary's School, Carterton .it 1 (25) St. Mary’s School, Foxton ... 25 (25) St. Mary’s Convent, Wellington Nil (50) St. Marv’s Guild, Karorl ... St. Patrick’s Parochial 450 (350) (75) Schools, Palmerston North 4 .J St. Patrick’s Primary School, (50) Kilbirnie 50 St. Patrick's School, MasterNil ton St. Peter and St. Paul s Parochial School, Lower (Nil) Hutt ’ 100 St. Peter's Church Day (Nil) School, Wanganui Nil St. Peter’s Taranaki Street (600) Mission, Wellington 650 St. Stephen's Parochial Day (Nil) School, Marton Nil St. Vincent De Paul Society, N;A. Palmerston North 25 St Vincent De Paul Society, Wanganui St. Vincent De Paul Society, 25 N.A. Wellington 150 (150) Salvation Army Eventide Homo for Aged Ladies .. Nil (75) Salvation Army’s Men’s Industrial Home, Miramar .. (200) Salvation Army Boys’ Orphanage, Masterton 75 (50) Society for Prevention of -.Cruelty to Animals, Palmerston North Ju (25) Society for Prevention of Cruelty to Animals, Wan ganui Society for Prevention of 25 (25) Cruelty to Animals, Weilington 100 (100) Society for Protection o£ Women and Children, Weilington 75 (100) Society for Relief of the Aged Needy 150 (250) Stewart-Karltane Home, Wanganui Nil South African War Veterans’ Association Nil (Nil) South Wellington School Library Nil N.A. Sacred Heart Convent, WanA ganui Nil — School to be erected at Hataitai (Roman Catholic) Nil N.A. Te Awo Awe Boy Scout Troop and Pack, Palmer ston North ...;. Nil N.A. Technical School (Arts School), Wellington) Nil N.A. Victoria University College Chair of Economics Nil —— Victoria University College Social Service Club 50 (50) Wairarapa South County Central Schools Library .. 1 (25) Wanganui District Nursing 50 League N.A. Wanganui Swankers’ Club . 100 (75) Wellington Advisory Committee to the Civilian Blind 100 (50) Wellington Competitions So(Nil) cicty Nil Wellington Convalescent Home 150 (150) Wellington Free Kindergarten Association 400 (400) Women's Borstal Association, Wellington 100 N.A. W onion's Division Now Zealand Farmers’ Union .... 100 (Nil) Workers' Educational Assoelation, Feilding 20 (20)’ Workers' Education Assoclation, Levin 15 N.A. Workers’ Educational Assoelation, Palmerston North o , (25) Workers’ Educational Assoelation, Wanganui 25 (25) Workers' Educational Assoelation, Wellington Workers* Educational Asso50 (501 elation. Discussion Groups. Wanganui Manawatu - Wairarnpa Nil N.A. Young Men's Christian Associatlon, Masterton Nil N.A. Young Men's Christian Associatlon, Wellington .... 100 (too) Young Women's Christian Associatlon, Palmerston Nth. 25 N.A. Young Women’s Christian Association, Wellington .... 150 (100)