MACARTHY TRUST
ASSETS OF ABOUT £400,000 i CREATION OF PERPETUAL TRUST DESIRED (Per United Press Association) WELLINGTON, March 4. At the instruction of the Board of Governors of the T. G. Macarthy Trust, the Public Trustee is to promote a private Bill during the coming session to make all charitable trusts in the estate perpetual trusts, and to prevent the possibility of distribution of the whole of the capital in the estate now or in the future.
The matter came before the Supreme Court this morning, when, after hearing counsel and one witness, Mr Justice Reed said he thought it a proper case for the court to give the certificate required to the effect that the facts stated in the petition to Parliament are true, and that the objects sought cannot be attained except by legislation. The Public Trustee gave evidence that a fair estimate of to-day’s value of the estate’s assets was about £400,000.
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Bibliographic details
Otago Daily Times, Issue 22822, 5 March 1936, Page 10
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155MACARTHY TRUST Otago Daily Times, Issue 22822, 5 March 1936, Page 10
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