THE MCCARTHY TRUST

Wanganui Chronicle, Volume 79, Issue 182, 6 August 1935, Page 9

THE MCCARTHY TRUST

DISTRIBUTION OF £12,525 TOTAL DISTRIBUTION EXCEEDS £213,000. WANGANUI DISTRICT ALLOCA. TIONS. WELLINGTON, Aug. 5. A distribution of £12,275 for charitable and educational purposes was authorised at the annual meeting of the Board of Governors of the Thomas George Macarthy Trust, which was held in Wellington, to-day. A special grant of £250 was made in May this year by the Board of Governors to the Jubilee Gift Fund of His Majesty the King, making the total distribution for this year out of the income of the estate £12,525. The following shows the allocation each year since the trust commenced to operate:—

£12,275 12,523 There ware present at the meeting: His Excellency the Governor-General (Lord Galway): tho Acting Prime Minister (Hon. Sir Alfred Ransom); His Grace Archbishop O’Shea; His Worship the Mayor (Mr. T. A'. Hislop); the public trustee (Mr. E. O. Hales) and the assistant public trustee (Mr. W. G. Baird). Applications for Grants. Tn accordance with the usual practice, applications for grants from the trust were called by advertisement in the public press. A total of 166 applications were received, as compared with 157 last year. The terms of the will of this generous benefactor differ from th) usual type of charitable trust, inasmuch as the testator did not specify any particular object of\ his bounty, but indicated his general intentions, permitting the distribution to remain entirely it the discretion of the authority mentioned by him in his will, which is now, by virtue of The Thomas Macarthy Trust Act. 1912, the Board of Governors. All charitable and educational institutions and objects in. the provincial district of Wellington are eligible to apply for grants from this trust. As usual, the applications received were first of all fully considered by tho advisory committee set up under the authority of The Thomas George Macarthy Trust Act. 1912. The present personnel of this committee is: Lady Luke, C.8.E.; Mrs. Henry Hall; His Honour Mr. Justice Johnston; Mr, E. P. Bunny; and Mr. E. (). Hales, public trustee (chairman). The recommendations of this committee were then considered by the Board of Governors. This year, although educational objects have received substantial consideration in the grants made, special attention has again been given to the necessity for assisting tlwsc institutions principally engaged in the relief of distress, since it is apparent that, the unfortunate conditions existing have not materially improved com pared with last year. Report by the Public Trustee. In his report to the Board of Governors, the public trustee makes reference to the recent deaths of Archbishop Redwood, a member of the Board of Governors, and Mr. A. R. Atkinson, a member of the advisory committee. Archbishop Redwood has been a member of the Board of Governors since the inception of tho trust in 1912, and his valued advice and assistance were always readily available in the administration of the trust. Mr. A. R Atkinson had been a member of the advisory committee to the Board of Governor,s since 1921, and, as a member of that committee in deal ing with the applications each year for assistance from the trust, he had rendered services of the highest value. The assets of the estate, as shown in the public trustee’s report, arc:— (1) Freeholds: (a) Hotel properties (town and country); (b) city shop anti warehouse properties; (c) city residential properties. (2) City and Phoenix Brewery. (3) Mortgages on freehold lands. (4) {Shares and debentures: Large holdings in well-known public companies. Whilst there has been no great Increase in the revenue received from the freehold properties ano otjjer investments, this is in some measure duo to the fact that in many instances valuable properties had been leased in guml times at high rentals and that these leases are still current. There is evidence, however, in the administration of the trust, that the fall in returns has been arrested and the indications are for increased returns in most cases. Circumstances have been advantageous for the improvement of several of the estate properties. Taking ad-

vantage of the widening of Jackson Street, Petone, and the offer of compensation for setting back the estate hotel property there, it has been demolished and a new hotel is being erected in concrete on the new street frontage. Extensive renovations have been effected to the hotel properties in Pieton and Shannon.

In dealing with the administration of the trust assets, the public trustee assured the Board of Governors that the utmost vigilance and care were being constantly devoted to the assets of the estate to ensure that the maximum return possible was being obtained. City and Phoenix Brewery. A very substantial increase, as compared with the previous year, is noted in the trading results this year. The re-building of portion of the brewery buildings and the repairs and improvements made to the plant have resulted, not only in the more economical manufacture of the brewery products, but in a further improvement in their quality. This has materially assisted to augment the return from the business. Provided conditions continue to improve, it is confidently expected that an even more satisfactory result will bo achieved for the ensuing year. The Wanganui Allocation. The recommendations of the advisory committee were adopted by the Board of Governors, and tho following list gives details of Wanganui grants approved. Last year’s donations are shown in parentheses, and where no comment appears, no application was received.

“START 'BAXTER’S' STOP COUGHING” Baxter’s Lung Preserver loosens the phlegm, removes the irritation, reduces inflammation, cleans away congestion, leaving tho air passages free and clear. Take it al bedtime if troubled with night, coughing. Don’t forget “Start ‘Baxter’s’---Stop Coughing.” All chemists mid stores sell “Baxter’s” in bottles al 1/6, 2/6 and 4/6. - Advt.

£ 1913-14 “•j 30 1914-15 7.”>25 1915-16 7070 1916-17 6880 1917-18 5790 1918-19 5112 1919-20 6545 1920-2] 678.1 1921-22 6860 1922-23 9015 1923-24 9350 1924-25 10,125 1925-26 12,040 1926-27 13,600 1927-28 14,500 1928-29 14,960 1929-30 14,550 1930-31 14,000 1931-32 12,505 1932-33 10,145 1933-34 11,130 1934-35 Jubilee Gift Hund to His Majesty the Kin £250, plus annual grants of

£ £ Aubert Home of Compassion, Wanganui 15 (15) District Nurse Association Feilding 65 (GO) District Nursing League, Wanganui 20 (20) Marist Brothers’ School, Wanganui .. .. .. (20) Blanket Society, Bulls .. .10 (nil) Blanket Society, Feilding .. (30) Blanket Society, Foxton .. Blanket Society. Mangaweka -15 (4(1) 10 (mt Blanket Society, Marton .. Blanket. Society, Waimarino 15 (15) branch ID (35) ( — Blanket Society, Waitotara Blanket Society, Wanganui 85 (8(1 Blanket Society, Waverley St. Francis’ Convent of 13 (15 Mercy, Marton (the grant is made for school purposes') 10 St. John Ambulance Associal ion, Wanganui . . 15 (is; St. Joseph's Convent, Jeru salem (Wang. River) St. Joseph’s Convent, Ohao0 (40) kune. (the grant is made for school purposes) (15) St. Joseph’s .Convent and school, Taihape (20 St. Joseph’s Brimary School ITurworth, Wanganui . St. Vincent de Baul Society, JO (-) Society, Wanganui (the grant is made solely for pooi- relief) so (70) Young Men’s Christian Association, Wanganui . . .10 JO)