GREAT GIFT TO CHARITY.

Waikato Times, Volume 106, Issue 17804, 31 August 1929, Page 14 (Supplement)

GREAT GIFT TO CHARITY.

£250,000 FOR BENEVOLENT FUND. .OVER A PERIOD OF 25 YEARS. Hospitals and charities benefit to the extent of £250,000 as the result of a magnificent gift by Sir Albert Levy, treasurer of the Royal Free Hospital, Gray’s Inn-road, London. The gift was announced in the following terms:—Sir Albert Levy has transferred to trustees securities to the value of £250,000 to form a benevolent fund for•the purpose of supporting hospitals and other charitable objects. The deed of settlement provides that the whole of the capital plus the interest shall be dis- . tributed in 25 yearly Instalments. The cash to be distributed by the trustees In accordance with the deed will, therefore, amount to about £400,000. Out of this surn £IOO,OOO has been allocated already to hospital purposes. The division of one twenty-fifth part of the capital .together with the income on the total sum, will he made on May 1 and November 1 in each year. ’ All communications must lie addressed to the Secretary, 5, St. .Tames’s-place, London, SVV.I. No others will be considered. Sir Albert Levy, who is chairman and managing director of the Ardath Tobacco Company, has long taken an active Interest in the cause of hospitals. In addition to giving liberally of his time and energy to the Royal Free Hospital, he readily came forward to net as guarantor when the Eastman Dental Clinic, forming a part of the hospital, needed financial assistanco. “ So far as the new fund is concerned,” Sir Alan explained, “it should he understood that it will not necessarily he confined to hospitals. It is a charity fund, and other worthy causes, and individuals, too, may be Helped from it. But I have not got Ihc sole management of the fund. The trusles of the money will be guided by the advisory committee in any appointments. It is not for me personally to dictate how the money shall be distributed. My chief interest in it lies in the opportunity of doing good to my fellow countrymen. Their good was all I had In mind when I decided the fund should he formed. So far as that is achieved I shall be satisfied.”

Sir Albert Levy’s gift recalls the Bernhard Baron Charitable Trust, which was formed in September last year, when the millionaire cigarette manufacturer set aside £500,000 In be administered for the benefit of hospitals, orphanages, and homes for crippled children during the next 20 years.