GIFT TO SEAMEN

Wanganui Herald, Volume LIII, Issue 160732, 19 August 1920, Page 2

GIFT TO SEAMEN

FROM SURPLUS WOOL PROFITS. TRUST FUND SET UP. (Per United Press Association.) WELLINGTON, August 18. Representatives of woo!-growers', interested in the New Zealand Sheepowners’ acknowledgment of debt to the British Seamen Fund met in the Parliamentary Buildings this afternoon to receive a report from the trustees. This fund was inaugurated by Mr E. Newman, M.P. (chairman), who said that about 44 men had expressed a wish to withdraw from the fund. He read a list of sheep-owners who had changed their minds about handing over surplus wool profits, and stated that the trustees, on legal advice, recommended that these men should he allowed to withdraw. No other withdrawals would bo permitted. . Tho conference proceeded to adopt tho following resolutions:—(l) That the following gentlemen bo requested to act as permanent trustees of the New Zealand Sheep-owners’ Acknowledgment of Debt to British Seamen Fund:—Sir' Walter Buchanan (Masterton), Hon. W. D. S. Mac Donald (Wellington), Messrs 11. Beetbam (Wellington), il., M. Campbell, M.P. (Hastings), j. G, N. Grigg (Longbeach), T. K. Lees- (Wellington), A. Boyle (Christchurch), G. L. Marshall (Marton), J. Murray (Ifaka Point), E. Newman, M.P. (Marton), A. E. Peace (Wellington), W, A. 'Scaifo (Waimate), and M. Be the. 11 (North Canterbury). That Mr T. R. Lees l be asked also to act aa Iron, treasurer. That the interim dividend from surplus wool profits new in process of distribution, covering profits made by the Imperial Government on wool sold up to March 31, 1919, shall be a final dividend as far as tho authorities to pay to tho seamen’s fund are concerned. That the trustees bo authorised to pay the whole or any part of the moneys belonging to tbo fund to the Public Trustee-, to bo invested by him as agent for the fund, and to hold such moneys and ®ll interest thereon ? ,in a manner from time to time directed by the trustees. That the trustees bo authorised to pay out of moneys received income tax assessed by the Commissioner of Taxes and gift duty if payable on individual amounts contributed, the intention being that it shall bo unnecessary for contributors to show amounts subscribed to this fund in their separate income tax returns. It was decided that the permanent trustees make an effort to enlarge tho number of subscribers.