INCHCAPE GIFT
VALUE ALMOST DOUBLED
LONDON, June 9
Within 15 years the "Elsie Mackay" gift, given to the nation by the first Lord Inchcape in memory of his daughter, has practically doubled itself. This was disclosed in a White Paper relating to the funds ,left in trust for reduction of the National Debt.
The original gift in 1929 was £527.808. The income has amounted to £513,338, and on March 31 last the fund stood at £1,041,147. The market value is £1.254,973. Lord Inchcape stipulated that the fund should accumulate for not less than 45 years and not more than 50 years, and then be applied to the reduction of the National Debt.
The Hon. Elsie Mackay, who was the third daughter of the first Lord Inchcape, lost her life while attempting, with Captain W. R. HinchlifTe, an east-to-west crossing of the Atlantic in the aeroplane Endeavour on or about March 13. 1928.
The White Paper also shows that a "national funCF of £500,000, given anonymously in 1927, amounted on March 31 last to £1,245,614.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19450611.2.57
Bibliographic details
Evening Post, Volume CXXXIX, Issue 136, 11 June 1945, Page 5
Word Count
174INCHCAPE GIFT Evening Post, Volume CXXXIX, Issue 136, 11 June 1945, Page 5
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