LATE MR BEVERLY'S WILL.

Otago Witness, Issue 2809, 15 January 1908, Page 38

LATE MR BEVERLY'S WILL.

QUESTIONS FOR THE COURT. In connection with the will of the lai Mr Arthur Beverly it is understood thi ' Mr W. C. MacGregor has applied to "hi | Justice Denniston to dispose of certai i questions connected therewith at as ear] j a date as convenient. It is an originatin summons taken out by the Trustees, Execi tors, and Agency Company, which is 11 executor under the will, that has to com before the court, the purpose of the sun mons being to obtain the true oonstructio of the will. There are two questions ii volved. The late Mr Beverly devise and bequeathed practically the whole < his estate to the University of Otago fc the advancement of education, and directe the University to accumulate yeax by yea 10 per oenfc of the income, to be adde annually to the capital fund?. Tha firs question is whether this direction t accumulate is infringing what ib know as the rule against perpetuities. This, < course, is purely ai question of law. TB second and tho more' inroortant questio involved is as to the method in -which th University is to apply the income b( queathed to it by the testator. The wi provides that the .Bev-eiily Trust Fund" i to be_ devoted to the advancement of educi tion in Otago, and the particular method of advancing 1 education' specified in th will are— (l) The teaching- of mathematical mechanical, and physical science, and (2 the Sounding- o£ echoiarshigs. The mai: question the court will ha-*te to determin is how the funds, at the disposal of th University acre to be apportioned betweei these two worthy objects— in other words whether the University is at liberty t devote the whole of the income to th establishing- of a professorship or whethe it is bound to devote- a specified portion ti the establishment of scholarships. It i understood the- University- Council is ran preparing foT the information- of the oour a scheme for the disposal of the income ii Jerms of the will. Probably the presen income is about £900 a -i»ar.