GIFT TO METHODIST CHURCH

Dominion, Volume 22, Issue 131, 27 February 1929, Page 10

GIFT TO METHODIST CHURCH

DONATION OF £ll,OOO

INTEREST-BEARING BONDS

Dominion Special Service.

Auckland, February 26.

A gift of £ll,OOO. to the Methodist Church for the relief of widows and children of deceased ministers, and the relief of supernumary ministers or laymen, who by reason of sickness were in needy circumstances, was announced by the Rev. George Bond at the annual conference of the Methodist Church of New Zealand. The donor Is a prominent Methodist layman, who has already given largely botli to the Church and to the public of the Auckland province.

After conference between the donor and the Revs. Dr. C. H. Laws, G. Bond, and Dr. H. Ranston.and their legal advisers, the terms of the trust were drawn up. They provide that the income is to be applied to making compassionate grants or giving financial assistance, either by way of gift or in exceptional circumstances, by way of loan, either with or without security, to widows or children of deceased Methodist ministers, who were at the time, of their death in full connection, either as ministers or supernumary ministers. Relief is also to be afforded to supernumary ministers or laymen of good standing in the Church, for whom no adequate provision is made in other funds, and who, by reason of ill-health or misfortune, or loss of property, are in specially needy circumstances. No grant exceeding £lOO to any one person may be made within a period of 12 months. The funds of the £ll,OOO consists of bonds bearing interest at a rate of 4} per cent., and maturing in January, 1931. It is the desire of the donor that the. fund should be left intact until the bonds mature.

In receiving the fund the conference decided unanimously to thank the donor for his generous gift of the benevolent fund, which it was decided to name after the donor and his wife.