MACARTHY TRUST

Manawatu Standard, Volume LVII, Issue 222, 19 August 1937, Page 16

MACARTHY TRUST

ANNUAL DISTRIBUTION. DISTRICT ALLOCATIONS. WELLINGTON. Aug. 18. A distribution of £13,000 to charitable and educational institutions and objects in the Provincial District of Wellington was authorised at the annual meeting of the Board of Governors of the Thomas George Macarthy Trust, which was held in Wellington to-day.

The following table shows the alio cation for the pa6t 12 years :

£ 1925- 12,040 1926- 13,600 1927- 14,500 1928- 14,960 1929- 14,550 1930- 14,000 1931- 12,505 ' 1932- 10,145 1933- 11,130 1934- 12,525 1935- 16,000 1936- 13,000

Tho total distribution to date is £242,342. « In liis report, the Public Trustee explains that the fall in the amount available for distribution is due .to an increase of £2600 in land tax and a decrease of £2500 (as compared with last year) in goodwill receipts—a total decrease of £sloo—against which other revenue has increased by approximately £2IOO, making the net decrease £3OOO. There were present at the meeting the Governor-General (Viscount Galway), the Prime Minister (Rt. Hon. M. J. Savage) His Grace Archbishop O’Shea, the Mayor (Mr T. C. A. Hislop), the Public Trustee (Mr E. O. Hales) and the Assistant Public Trustee (Mr W. G. Baird). In accordance with the usual practice, applications for grants from the trust were called by advertisement in tho public Press in January. One hundred and sevont.y-one applications were received, as compared with 167 last year. All charitable and educational institutions in the provincial district of Wellington are. eligible to apply for grants from this trust. The applications received are first of all fully considered by the advisory committeo set up under the authority of the Thomas George Macarthy Trust Act, 1912. The present personnel of this committee is Mrs Henry Hall, Sir George Troup, K. 8., C.M.G., Hon. Mr Justice Johnston, Mr E. P. Bunny, and Mr E. O. Halos, Public Trustee (chairman). The recommendations of this committee arc then considered by the Board of Governors.

Lady Luke, 0.8. E., who was a member of this committee since its inception, died this year, and feeling references to the loss thus sustained to the committee were made at tho meetings of the advisory committee and the Board of Governors REPORT BY PUBLIC TRUSTEE.

The assets of the estate, as shown in the Public Trustee’s report to the Board of Governors, are:—l. Freehold: (a) Hotel properties (town and country); (b) city shop and warehouse properties; (e) city residential properties. 2. The. City and Phoenix Brewery. 3. Mortgages on freehold lands. 4. Shares and debentures, being chiefly holdings in well-known public companies.

Tim report continues that during tho year under review there have been no important financial 'transactions. The opportunity lias been taken to make a comprehensive review of the estate assets —particularly the condition of all the buildings. Although these have welb maintained, many are approaching obsolescence, and the reserves being accumulated in the buildings replacement fund—authorised by tho Thomas George Macarthy Trust Act, 1936—wi1l be required for modernisation and possible rebuilding of certain properties. A scheme of constructive improvements is being embarked on. The trading results for. the year have been satisfactory, and a continued improvement is expected. LIST OF ALLOCATIONS. Allocations to Palmerston North and adjacent districts wore made as follow : £ All Saints’ Children’s Home Trust Board, Palmerston North ... 100 Brigidine Convent, Foxton ... 60 Convent of Mercy, Palmerston North 125 Convent Primary School, Levin 25 Free Ambulance Transport Service, Palmerston North ... 40 Manawatu Willard Children’s Home and Orphanage 25 Palmerston North Hospital Women’s Auxiliary 10 Plunket Society, Fcilding 40 Plunket Society, Foxton ... ... 50 Plunket .Society, Levin 25 Plunket Society, Marton 15 Plunket Society, Pahiatua 10 Plunket Society, Palmerston North 45 Plunket Society, Shannon .15 Plunket Society, Te Horo 10 St. Francis’s Convent, Marton ... 45 St. Stephen’s Parochial Day School, Marton 30 St. Vincent do Paul Society, Palmerston North 05 To Awahou Sea Scouts Committee, Foxton 10 Workers’ Educational Association, Fcilding 5 Young Men’s Christian Association, Palmerston North ... 45 Young Women’s Christian Association. Palmerston North ... 70 Catholic School, OtakL 20