MACARTHY TRUST

Sun (Auckland), Volume 1, Issue 93, 11 July 1927, Page 12

MACARTHY TRUST

A RECORD YEAR BENEFIT TO INSTITUTIONS GRANTS TOTAL £109,027 (Special to THE SUE.) WELLINGTON, To-day. I r PHIS year tha sum of £13,600 has been donated to deserving charities and educational institutions in the Wellington Province by the Thomas George Macarthy | Trust, through the Public Trust Office. During the 14 years the trust has been in existence, the sum of j £109,027 has been distributed. This year's distribution constitutes ! a record by over £I,OOO. The trust arises under the will of he late Mr. T. G. Macarthy, of Wellington. brewer, who owned the City and Phoenix Brewery, now conducted by the Public Trustee as part of the estate. The late Mr. Macarthy lived in Wellington for many years, and died «»n August 19, 1912. The will appointed the Public Trustee of New Zealand the sole executor and trustee. The final balance of the estate for duty purposes was £389,689 17s Bd. legacies amounting to £ 16,000 were paid under the will, and estate and succession duty amounted to £63,101 J6s Bd. The will directs that the Board of Governors shall be His Excellency the Governor-General, the Prime Minister, i lie Mayor of Wellington, and the (toman Catholic Archbishop of the Diocese of Wellington. It also gave the board powers to appoint an ad vis- ■ ory committee, the function of which is to examine applications for financial ! assistance received from charitable and educational institutions entitled to j apply, and to recommend to the Board \ of Governors the distribution of the : sum available each year. This Advisory Committee now con- ; sists as follows: —Lady Luke, C.8.K.: j Sir Charles Skerrett, Mr. A. ft. Atkin- j son, Mr. E. P. Bunny. Mr. G. A. Troup, j and Mr. J. W. Macdonald, the Public i Trustee, chairman. The assets of the estate are unen- j numbered except to the Public Trust | Office as security for amounts ad- i vanced by the Public Trustee in respect of financial assistance afforded to the estate. INCREASE OF INCOME At the annual meeting of the board held to-day at Government House, the following were present:—His Excellency 2Sir Charles Fergusson. the Prime Minister, the Flight Hon. J. G. Coates, Archbishop Redwood, the Mayor of Wellington. Mr. G. A. Troup, and Mr. J. W. Macdonald. in the chair. The chairman stated that the operations for the year had been very successful, and that the net income had been substantially increased. In determining the amount available for charitable and educational purposes the Public Trustee explained that certain assets in the estate were held on special trusts, and that the net income arising from these was not available for distribution each year to charitable and educational institutions, and was not included in the figures for the year. Until the termination of certain life interests granted under the will only one-half of ihe income from the residuary estate was available for distribution for charities and educational purposes. The incidence of land tax and rates was a heavy burden on the estate. Its holdings of freehold property were large and consequently there was a heavy deduction from the income by reason of the graduated land tax assessed on it. Despite the burden of taxation very satisfactory results had been forthcoming, and the income of the estate had steadily increased. Considerable sums have been spent during the year on repairing and renovating properties. One building has been rebuilt and negotiations are in hand for further rebuilding. The total number of grants for the year was 120, 23 new applications having been received. On the motion of Hif Excellency the Governor-General, seconded by the Prime Minister, a resolution was passed approving of the work of the Advisory Committee. His Excellency nlso moved that appreciation be expressed on the manner in which the estate has been managed and developed by the Public Trustee and on the excellent manner in Which applications lor grants had been handled and carried out. THIS YEAR’S GRANTS This year’s grants of £IOO and over are as follow, last year’s being given in parentheses. N.A. signifies new application: All Slants’ Children's Home, Palmerston North , £2OO (£150); Alexander Home for Young Women, £3OO (£250); Anglican Boys’ Homes’ Society, £350 (£200); Boy Scout Association, Wellington. £l5O (£150); Boys’ Institute and Salvation Army Rhodes's Home for Boys, £750 (£750); Boys’ Orphanage, Nai Nai, £SOO (£400); British Sailors’ Society, £3OO (£250); British Red Cross Society, Wellington. £IOO (£100); Citizens’ Day Nursery, Wellington, £3OO (£250); Community Club, £IOO (£100); Creche, Buckle Street, £125 (£125); Discharged Prisoners’ Aid Society, £l5O (£100); District Nursing Guild of St. John, Wellington, £IOO (£100); Free Kindergarten, Wellington, £4OO (£300); Home for Destitute and Orphan Boys, Island Bay, £2OO (£150); Home for Destitute and Motherless Children, Wellington, £2OO i£150); Home of Compassion, £SOO (£400); Home for Incurables, £4OO (£300); Karitane Hospital Fund, £250 (N.A.); Levin Memorial Home, Welling—ton, £2OO (£200); Maternity Home, Kensington Street, £2OO (£150); Mothers’ Helpers, Wellington, £l5O (£150); New Zealand Academy of Fine Arts, £2OO (£2o0); Pauli.«a Rescue Home for Young Women, Wellington, £250 (£200); Plunket Society, Palmerston North, £IOO (£100); Plunket Society, Petone, £IOO 1£75); Plunket Society, Wellington, £SOO (£500); Presbyterian Boys’ Orphanage, Berhampore, £3OO (£200); Presbyterian Girls’ Home, Island Bay, £3OO (£200); Maori Girls’ School, Turakina, £l5O (£100); Residential Nursery, Wellington, £350 (£350); St. Barnabas’s Babies’ Lome Society, £165 (£100); St. Joseph’s Orphanage, Upper Hutt, £6OO (£500); St. Mary’s Guild, Karori, £350 (£250); St. Peter's Mission, Wellington, £6OO (£500); St. Vincent tie Paul Society, Wellington, £l5O (£150); Salvation Army Men’s Industrial Home, Miramar, £2OO (£150); Society for the Prevention of Cruelty to Animals, Wellington, £IOO (£100); Society for the Protection of Women and Children, £IOO (£200); Society for Relief of the Aged Needy, £250 (£250); Wellington Convalescent Home, £l5O (£200); Young Men’s Christian Asociation, Wellington, £IOO (£100); Young Women’s Christian Association, Wellington, £IOO (£100).