SIR JOHN CAMPBELL'S WILL

Dominion, Volume 6, Issue 1787, 27 June 1913, Page 7

SIR JOHN CAMPBELL'S WILL

PUZZLING POSITION. {TRUSTEES UNABLE TO PAY OUT. (By Telegraph—Prcas Association.) Auckland, June 26. The final asse" - Tient of death dutils in the estate of t~» lato Sir John logan Campbell has be«i completed. .The not value of the estate is certified at .6227,966, on which the death duty payable is .£36.256. The trustees find- themselves with only in hand with which to carry out the testator's wishes, and, beyond -CIOOO which will_ be paid the St. John Ambulance Association at onoe and -615,000 to Auckland charities in 1911, the payment of biratff legacies will be indefinitely postponed. Practically the whole assets are in shares in .Campbell, Ehrenfried, and Co,, and in view of the possibility of an adverse vote at the local option poll, the trustees do not consider themselves justified in further reducing the corpus of the estate. The Ward and Mackenzie Governments had, in view of the disposition of the' Campbell estate, promised to relieve the trustees of payment of estate duty upon legacies for charitable purposes. Tho present Government, however, refused the executors -this relief, so that charitable inetitotions in the Auckland province are poorer by at least -£1000 a year. The trusteed are advised . that • they have a chance of succeeding in an appeal against the Commissioner's decision to include in the valuation, of the estate the problematical interest of the trustees under the terms'of settlement on Sir John's daughter, which tho Commissionier valued at £18,575. They havo lodged notice of appeal accordingly. Payment of .£20,000 ■- for tire Chair of Agriculture is one of the legaoies indefinitely postponed;