THE MACARTHY TRUST.

New Zealand Herald, Volume LXIII, Issue 19390, 27 July 1926, Page 11

THE MACARTHY TRUST.

RECORD AMOUNT ALLOCATED DISTRIBUTION OF £12,000. GRANTS TO MANY INSTITUTIONS. t B1 * TELEGRAPH.—OWN CORRESPONDENT;] WELLINGTON, Monday; A record allocation of £12,040 was made to-day by the Board of Governors of the T. G. Macarthy Trust to educational and charitable institutions in the Wellington Provincial district. The largest previous annual payments were £9350 in 1923 and £10,125 in 1924.

Since the first distribution in 1913 a total of £55,427 has been paid out. This year the beneficiary institutions total 92 and include a number of orphanages, homes, charitable societies and Roman Catholic and other schools. The grants range from £750 to £25.

The assets of the whole estate which is held by the Public Trustee are valued at £426,796. Members present at to-day's meeting of the board were the GovernorGeneral, Sir Charles Fergusson, the Prime Minister) Mn Coates, and Archbishop O'Shea. The Public Trustee, Mr; J, W. MacDonald, .reported that the net income had increased substantially. In view of the heavy land tax a number of unproductive assets had been realised where retention was not justified and the bulk of the property now consisted of city holdings which were likely to show a steady increase in value,

The principal allocations are :—Boys' Institute, Wellington, £750; St. Peter's Mission, Taranaki Street, St. Joseph's Orphanage, Upper Hutt, Plunket Society, Wellington, £SOO each; Home of Compassion and Boys* Orphanage, £4OO each; Residential Nursery, Wellington, £350; Home fof Incurables, Wellington, and Wellington Free Kindergarten, £3OO each; Alexandra Home, Wellington, Citizens' Day Nurseries, British and Foreign Sailors' Society, St. Mary's Guild and Society for the Belief of the Aged Needy, -Wellington, £250 each. Eleven other institutions receive £2OO each.

On the motion of His Excellency the Governor-General a resolution was passe'd expressing appreciation of the Public Trustee's administration of the trust and the manner in \vhich applications for grants had been examined and submitted t-e the Board of Governors.