MR MACARTHY'S WILL

Dominion, Volume 5, Issue 1526, 23 August 1912, Page 5

MR MACARTHY'S WILL

FULL PARTICULARSPERSONAL BEQUESTS AND ANNUITIES. HUQE SUM FOR EDUCATION AND CHARITY. Probate of the will of the late Mr. Thomas George Macarthy, of Wellington, was granted yesterday morning, after which the cuntents of the will were made available. An indication has already been given of the broad and extremely generous lines un which tho will has been drawn. As the provisions of the will are necessarily couched in legal phraseology it will conduce to a ready understanding of the will to explain in brief how the estato is to be divided. Tho value has been declared by the executor (the Publio Trustee) to be approximately .£500,000. Out of it the sum of JCIG.OOO is to be paid in cash to various bencficiarcs and annuities to tho amount of ,£1730 (in all) have to bo paid to four people. Tho rest becomes the residuary estate, half the income of which goes to Mrs. Macarthy (widow of tho deceased), and half to Charitable or educational purposes, or institutions in the provincial district of AVellington. Legacies and Annuities. I Following is a summary of the main provisions of the will:— 1. Deceased gave the following legacies: (a) To. Charlotta Noad, wife of Lewis Noad, barrister, of London, the sum of ,£SOOO. (b) To Annie Tottman, sister of the said Charlotta Noad, the sum of ,£SOOO. (o) To Edith Laurie, daughter of Mr. Samuel Gilmor, hotelkceper, the sum of ,£IOOO. _ (d) To Geraldine and Kathleen Henry, daughters of the lato Dr. Henry, tho sum of XlOflfl each, (e) To the Rev. Mother Mary Joseph Aubcrl, or her successor, the sum of JJIOOO, for the benefit of charitable charges of her order. (0 To Mrs. Batkin, wife of Charles Batkin, of Toowoomba (formerly of Wellington), tobacconist, tho sum of .£IOOO. (g) To such charitable institutions for the poor and afflicted of tho town of Gcelong as tho Public Trustee Shall determine, the sum of .£IOOO. 2. Deceased gave the following annuities free from legacy duty:— j (a) To his wife an annuity of ,£I2OO dur- : ing her lifetime, or until she shall become bankrupt, assign, or charge said annuity. (b) To his Wife's sister, Elizabeth Fit& simnions (Mrs. Rutter), an annuity i of ,£3OO, on tho same terms. (c) To his wife's mother, Mary M'Carthy, an annuity of .£IOO during her lifetime, on the same terms. (d) To his carter, Richard Matliieson, an annuity of 41130 during his lifetime, on tho same terms, and after his death to tho widow of the said Richard Mnthicson. Directs that all annuities sliall cease on the annuitant assigning or dealiug with the same or becoming bankrupt, and after the cessor of such annuity the Public Trustee may at his absolute discretion in every year of the rest of the life of the annuitant apply such sums of money, not exceeding tho whole of the annuity, in or towards the support or lienefit of wife, husband, or children of the annuitant. . 3. Gives all his furniture, household effects, jewellery, and personal effects to his wifo absolutely. 4. Gives tho Public Trustee his two houses in Boulcott Street— (a) Upon trust, to pay the rents to his wife during her life or until fjhe shall become bankrupt, or deal, with tho income, and on the cessor of euch income tho Public Trustee may apply tho rents, etc., in and for tho support and benefit of Mrs. Macarthy, or tho support and benefit of any future husband or children, and after the death of Mrs. Macarthy tho Public Trustee shall hold euch properties in trust for any future husband during his life, if Mrs. Macarthy, by her will and testament, so directs and appoints, and subject to that appointment in trust, for any future children of herself, as she shall by will appoint, and in default of appointment, in trust for her future ciiildren in equal shares. Failing children, the said property shall foil into the residuary estate. (b) The residue of the estate is to l:e given to tho Public Trustee, and one-half of tho annual income is to be paid by the Public Trustee to Mrs. Macarthy during her life, until sho becomes bankrupt, assign, or charge said income, and on her doing so tho Publio Trusteo may pay or apply tho rents for her support and benefit, or the support and benefit of any husband or children in such manner as the Public Trustee thinks fit, and on the death of Mrs. Macarthy, or the sooner determination.- of the trust, the capital of such moiety shall 1 follow the destination of the residue. Education and Charities. Tho other half of the annual rents and profits of tho residuary estato shall, until the (lentil of Mrs. Macarthy, be paid and applied by the Public Trustee to, or for, such charitable or educational purposes or institutions in the provincial district of 'Wellington in such manner and in such shai'es and to such extent as the Board of Trustees, constituted under tho will, (?hall from timo to timo by resolution dii'ect and appoint. With power to the Public Trustee ro pay sucli rents, etc., to the Board of Trustees, without being liable to see to the application < I tho same. After the death of Mrs. Macarthy or the determination of the preceding trusts, tho Publio Trustee shall hold the residuary estate in trust to pay and apply tho same to and for such charitable charges or educational institutions in tho provincial district of, Wellingt.on, and in such manner and for such shares as the Board of Trustees 'shall by resolution direct and appoint. The deceased by his will declared thai he hoped to execute a further will expressing his wishes and desires concerning tho charitable and educational institutions, but if he failed to do so, he declared tho Board of Trustees should have absolute discretion over tho charitable and educational institutions os to how the income shall be paid or applied by the Public, Trusteo, and that their discretion should not be questioned or interfered with hi any court of law or equity. Board of Trustees. 1. The will directed the Board of Trustees should oonsist of four persons, nameMy:— His Excellency tho Governor fo.r tho time being of Now Zealand. Tho Prime Minister for the time being of New Zealand. The Roman Catholio Bishop for tho time being of tho diocese of Wellington. The Mayor for the timo being of tlio city of Wellington, In case any of the persons named should decline for any reason to act, the other members to appoint some other persons in their place. 2. All questions to be determined by a majority of tho trustees, which resolution is not to be questioned in any Court of law or equity, and in ease of disagreement: the chairman shall have a easting vote. 3. The board,of trustees shall appoint one of their number to be chairman, and shall make regulations for the conduct of their business. 4. The quorum of trustees to be two. If tho board of trustees shall decide, at any timo after the death of Mrs. Macarthy, by resolution that it should tako over the management, and control of tlio residuary estate, then tho Publio Trustee, upon receiving such written notice, shall mako over to the trustees such residuary estate, to be held a.nd administered by such board for tho said charitable and educational purposes, and the board shall henceforth enjoy in respect of that estate the powers given to the Public Trustee. 5. The board of trustees may have power te auaoiut uoareteiriea, clerks, otlie^

servants and officers as they shall deeiu necessary for the proper administration of the trusfs, and pay the salaries and remunerations out of tho truit moneys. ■ The Public Trustee's Powers, Tho will Rives tho following powers to tho Public: Trustee:— (a) 'J'o carry 011 any business of whieli he may be at the time of his death for such time as tho Public Trustee thinks fit,, with power to use and apply any part of tne residuary estate as capital. (b)-To permit tho estate to remain in its existing state of investment..for such period as Hie Public Trustee shall think fit, without reference to the nallire of such investment or of its being of a hazardous nature. (c) To sell all or any part of' the properly cither by public auction nr private contract in such manner and to such extent, as the Public Trustee thinks fit. ' • (d) Dedicate or construct or form roads, squares, garden?, or oilier conveniences upon any part of his property, to grant right-ol'-ways, and generally to improve and develop his property in such 1 way os the Publio Trustee in his discretion shall think fit, and, in particular, if tho Public Trustee thinks desirable, to erect buildings on nny lands owned by him. (e) To lease all or ally part of tho property for such term of years as the Public Trustee thinks proper.(f) Generally, to exercise the same powers of managing and developing and improving the property as if tho Public Trustee were the absolute owner. (g) To purchase any land 9 required for the purposes of the trusts hereto. (h) The Public Trustee has a wide discretion as to the method and mod® of investing trust moneys. i A Generous Man. Tho Rev. Mother Mary Joseph Auberfc bears testimony to the late Mr. Macarthy's quiet charity. "I was riding in a tram one day," said tlio Rev.'.Mother to a Dominion representative, "when Mr. Macartliy asked mo if it was true that T was about to build a homo at Island Bay. I said I was going to try. He hesitated n little and then said: 'Would you miiul coming into my office in the brewery?' "I said I would come, and together wo went into the officc, and there and then lie wrote out. and handed me a chcquo for .£SOO. The only provision ho ina\lo was that I was not to tell anyone about it. He was; always so—lie would never let 'his left hand know what his right hand was doing.' "On another occasion I was in great trouble over a road leading past the Home at Islnnd Iky to the Town Belt. < 'J'lie, council, would not do anything becmiso a large.block of land .on the side opposite tlio Home was not being used. I went to Mr. Jtacarthy as a friend and business-man for advice, taking the plans with mo. He looked into them and asked how much the owner wanted for the block. I (old liini .C 1750, of which he would allow £1000 (o remain, oil mortgage. Mr. Macarthy at once advanced nic the sum of JJ7SO, with which to sccuro the land. When T went to pay him tho interest, he asked me did I want to quarrel with him—that T need not think of paving the interest until he asked for it. He never asked for it. lip never asked for it—he gave me tho .£750! Oh, ho was a very good man!'.'. The Probable Income. At a minimum estimate it is calculated that the income on .£250,000 will bo available for educational and charitable purposes as from the date of death. If this sum only returns 5 per cent it will ' mean an animal disbursement of ,£12,500 at tho discretion of the board, but it is n fair assumption that, a good deal more than 5 per cent is being returned on many of the properties involved, so that a sum a good deal greater than that mentioned should lie available. As timo goes v on, too, the properties should, in a young and progressive country like New Zealand increase in value and,: consequently arc likely to return a good deal more than at present. At Mrs. Macarthy's decease the whole of (lie estate (at present valued at half a million sterling) will bo available for the purposes noted in the will. ■ Tho provision Mr. Macarthy has made will probably go a long way towards helping in n most substantial way. many of our most deserving educational and charitable institutions. The Funeral. Lower Boulcoft Street was crowded between 9 a.m. and 10.15 a.m. yesterday, the i occasion being the funeral of the 'late Jlr. T. G. Macarthy. At tlio former hour the remains were" taken to St. Mary of tho Angels Church, where solemn Requeim Mass was celebrated by the-Rev. Father M'Car.thy (half-brother of the deceased's widow). There wore also present in the' sanctuary the Very -Rev. Deans Regnault, O'Shen, and Tubman, the Rev. Fathers Herring, Goggnn,' Mur- i ray, M'Dermott, and Da.ly. The clergy in the church included the Very Rev. Dean Lone, Rev. Dr. Kennedy (principal ' of St. Patrick's College), and the Rev. Fathers Hicjison, Peoples, O'Reilly, aiwl J. Herring. The pretty little elnirch was i crowded, and tho solemnity of tho service'was enhanced by a t choir composedof Sisters of Mercy. The cortege includ- ' ed thirty-three carriages, a- few motorcars, nnu a number of pedestrians. Tho sendee' at the graveside was read by tho Rev. Father, M'Carthiy, the responses being recited by twelve members of tho clergy, whoso names are mentioned above. The chief mourners were Mr. .T. ritzsim- ' mons (brother of tho widow), Mr. Rutter ■ (brother-in-law of tho deceased), and Mr. Samuel Gilmer (of tho Royal Oak Hotel). Among thoso present were the Hon. A. L. Herdmnn, Attorney-General (representing the Government), Sir Joseph AVard, Hons. H. Gilmer and R. A. Loughnan. M.L.C.'s, Mr. Jns. Trevor (chairman of the Hospital and Charitable Aid Board), Rev. H. Vau Stavereii, Hon. T. W. Hislop. his Worship the Mayor (Mr. D. M'Larcn), Messrs. R.. Fletcher and J. E. Fitzgerald (city councillors), W. H. Batlinger, Jas. Ames. W. Flavell, Martin Kennedy, W. C. Gascoigno, C. P. Skerrott, \V. C. Stephens, Prof. Mackenzie (of Victoria College), R. P. Collins, ,1. B. Harconrt, J. Ji. Henrys, and many other lending citizens. Mrs. Jtacarthy i was accompanied to the graveside by* Mosdamcs Charles Plimmer and Rutter. Messrs. Chainey, M'Malion, Neill, and Meadows (employees at the brewery) acted ns pall-bearers. The arrangements > for • the funeral were in tho hands of Mr, B, Morris, Jtinr.