McCARTHY TRUST FUND
LEGISLATION PROPOSED PR ESERVATION OE. CAPITAL (Per Press Association.) WELLINGTON, this day. \l the instruction of the board of governors of tho 'l'. G. .McCarthy Trust, the Public Trustee is to promote a private bill in the coming session of Parliament to make all charitable trusts in tinestate perpetual tfirsts, and to prevent the possibility of the distribution of the whole of the'capital in the estate now or ui the future
Tho matter came before Ibe 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- were true and that the objects sought could not be attained except bv legislation. The Public Trustee said in evidence that a- fair estimate of to-day's value ot the assels of the. estate was about £400.000.
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Bibliographic details
Poverty Bay Herald, Volume LXIII, Issue 18955, 4 March 1936, Page 15
Word Count
156McCARTHY TRUST FUND Poverty Bay Herald, Volume LXIII, Issue 18955, 4 March 1936, Page 15
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