T. G. MACARTHY TRUST

Manawatu Standard, Volume XLIX, Issue 204, 29 July 1929, Page 8

T. G. MACARTHY TRUST

TOTAL OVER £188,500. SIXTEEN YEARS’ ALLOCATIONS. (By Telegraph—Special to Standard.) WELLINGTON, July 29. Y'ear by year the benefits derived from tho T. G. Macarthy charitable trust by philanthropic objects aro steadily*being extended. The trust has now been in operation since 1913, and during that time over £138,500 has been distributed amongst eligible institutions and organisations. This year the’’ largest amount yet disposed of in any one year is being distributed. The following table shows the allocations each year since the commencement of the trust: —

THIS YEAR’S OPERATIONS. The annual meeting of the Board of Governors of the T. G. Macarthy Trust was held in the Executive Council Room, Government Building to-day. There were present: His Excellency the Governor-General (Sir Charles Fergusson), the Prime Minister (Rt. Hon Sir Joseph Ward), His Grace Archbishop

Redwood, His Worship the Mayor (Mr G. A. Troup). The Public Trustee (Mr J. W. Macdonald, C.M.G.), chairman of the advisory committee to the Board of Governors, was also present. The Public Trustee submitted his annual report and balance-sheet in respect of the administration of the trust, and stated that the operations for the year had been very successful, resulting in a further increase in the net income available to be dealt with by the Board of Governors. The Public Trustee explained that in computing the amount available in terms of the late Mr Macarthy’s will for charitable and educational purposes, as certain assets are held on special trusts and the net income from these is not available for distribution each year by the Board of Governors, this income is not included in the figures for the year. Moreover, until the termination of certain life interests granted under the will, only one-half of the income from the residuary estate is available for distribution to the eligible institutions and societies. The Public Trustee intimated that he had continued his policy of conserving and developing the assets, this being an important feature of the administration of a perpetual trust. The estate holds a large amount of valuable propertv in and around the city of Wellington. With the expansion of the city a number of these properties are now in important shopping, warehouse and business areas, so that the purposes for which they were once used have in a number of instances completely changed. It is, therefore, necessary from time to time. to rebuild or remodel antiquated or inadequate premises. During the year extensive alterations and renovations have had to be made to another of the estate properties in the centre of the city. The result is that a steady and satisfactory revenue is derived from this asset 'for many years to • come. In a number of other cases minor alterations have been made, all with a view of increasing the earning power of the properties concerned. The year s accounts show that the results achieved justify the policy which is being pursued.'The funds required for the carrying out of the expenditure involved in the remodelling and renovation schemes have been readilv provided by the Public Trust Office without expense or delay to the estate. “ applications for grants. On account of the large amount available for distribution, in terms of the charitable trust, the dealing with applications for grants from it is of very great importance, seeing that the late Mr Macarthy did not specify the objects of his bounty but merely indicated his general intentions permitting the distribution to remain entirely at the discretion of the Board of Governors. The handling of the applications is all the more important in order to ensure that the trust is adnunistered in the spirit which actuated the late Mr Macarthy in establishing it unhampered by numerous restrictions. Certain broad principles are followed as far as the nature of the distribution renders practicable. As a rule no grant is made to an institution that has not commenced to function and has, therefore, given no evidence of its usefulness and the benefit it will effort or the success with which it will meet. In regard to established institutions activities in obtaining money from sources other than the trust, the efforts made to help themselves, the voluntary work done by supporters and those responsible, as well as the worthiness of the object, are all taken into account. As a general lade accumulation of incomes does not receive favourable consideration for if this were the continued policy of an institution the purposes of the trust w-ould be largely negatived by granting an amount to such an institution out of the trust. It is, however, difficult and inadvisable to lay down hard and fast rules by which every application must be judged. If this were insisted upon and the consideration restricted by rigid formularies obviously a number of meritorious objects might well be excluded and thus the intention of the trust to some extent be defeated. Accordingly, each application falling within the scope of the trust is considered on its merits. Following the usual procedure the Public Trustee inserted in the newspapers advertisements inviting applications for grants; 133 applications, of which 14 were new ones, were received, as compared with 143 last year. No doubt the reduction in the number of applications is due to the fact that certain religious bodies have decided not to accept on behalf of institutions under their control assistance from a trust a portion of the revenue of which is derived from the liquor trade. His Excellency the Governor-Gen-eral, in stating that the present meeting of the Board of Governors would be the list at which lie would preside, congratulated the Public Trustee on the care and efficiency with which the trus’t had been managed and carried out. His Excellency also expressed the gratitude of the Board of Governors to the advisory committee and the Public Trustee for the manner in which the applications had been submitted for consideration. On behalf of himself and the Board of Governors lie congratulated the Public Trustee on the honour recently’conferred upon him by His Majesty the King. THE YEAR’S GRANTS. The Public Trustee reported that the advisory committee had held its annual meeting on July I.lth, 1929, for the purpose of considering the applications which had been received, and

it had recommended the distribution-

of £15.000, being tire largest' amount yet distributed in any one year since the trust commenced to operate. He also reported that at that meeting- h® had been directed by the advisory committee to convey to the board the following resolution which had been passed by the committee: —“That the Public Trustee be congratulated on tire manner in which the applications for grants had been investigated and submitted for consideration and on the care and attention which had been devoted by tho Public Trustee and his staff to have all necessary information placed at the disposal of the committee to enable it to come to its conclusions.” The recommendations of the Advisory Committee were adopted by the Board of Governors, the local grants being as follow (last year’s donations shown in parentheses, and where no comment appears no application was received. “N.A.” signifies “new application”) : All Saints’ Children’s Home, Palmerston North £225 (£200) ; Brigidine Convent, Foxton (the grant to be_ expended for school purposes), £75 (£SO) ; Convent of Mercy, Marton, £SO (£4O) ; Convent of Mercy, Palmerston North, (the grant is made for school purposes, and this includes a grant for St. Patrick’s Parochial School), £l5O (£100) ; Convent Primary School, Levin, £25 (£25); Feilding District Nurse Assn., £IOO (£100) ; Levin Memorial Home, "Wellington, £2OO (nil); New Zealand branch of the British Empire Cancer Campaign Society; to be paid over at the discretion of the Public Trustee and subject to his being satisfied that the amount is expended in terms of the will in the Wellington provincial district. £SOO (N.A.); riunket Society, Feilding, £6O (£6O) ; Plunket Society, Foxton (of the grant £6O, £35 is to be allocated to general purposes, and £25 to the special building fund of the society, £6O (£6O) ; Plunket Society, Levin, £SO (£35) ; Plunket Society, Pahiatua, £6O (£6O) ; Plunket Society, Palmerston North, £125 (£110); Plunket Society, Shannon, £ls (£25) j Royal Life Saving Society, Palmerston North, £25 (£25) ; St. John Ambulance Nursing Guild, Palmerston North £25 (£25); St. Vincent de Paul Society, Palmerston North, £25 (£25); Society for the Prevention of Cruelty to Animals, Palmerston North £25 (£25) ; Workers’ Educational Association, Feilding, £2O (£2O) ; Workers’ Education Association, Palmerston North £25 (£25); Young Men’s Christian Association, Wellington, £IOO (£100); Young Women’s Christian Association, Palmerstqn North £SO (£25).

£ 1913 ... 2,530 1914 ... 7,325 1915 ... 7,070 1916 ... 6,880 1917 ... 5,790 1918 ... 5,112 1919 ... 6,545 1920 ... 6,785 1921 ... 6,860 1922 ... 9,015 1923 ... 9,350 1924 ... 10,125 1925 ... 12,040 1926 ... 13,600 1927 ... 14,500 1928 ... 15,000 £138,527