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ELSIE MACKAY FUND. THE DONORS’ WISHES. MONEY TO ACCUMULATE. (British Official Wireless.) RUGBY, July 3. With, regard to a, large gift which has l>een made to the nation in memory of the Hon. Miss Elsie Maekay, who perished in an attempt to fly across the Atlantic, the Chancellor of the Exchequer (Mr. Winston Church*, i.ll) said to-day that as her parents, Lord and Lady Inohcape, and their children did not want to benefit by tier death, they desired to place in trust with the nation the sum of £500,000, the residue of Miss Mao kay’s estate, which passed to them. Their wish was that the gift should ultimately be applied to the reduction Df the national debt, and they proposed it should accumulate for a period, roughly- of 50 years unless at some other date the proceeds, _ with other sums which might be available, should be sufficient to redeem the whole of the liabilities of the State, The fund will he called the Elsie Maekay Fund.
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Bibliographic details
Hawera Star, Volume XLVII, 5 July 1928, Page 5
Word Count
168DEBT REDUCTION Hawera Star, Volume XLVII, 5 July 1928, Page 5
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