T. G. MACARTHY TRUST

Nelson Evening Mail, Volume LXIII, 29 July 1929, Page 2

T. G. MACARTHY TRUST

TOTAL OVER £138,500 SIXTEEN YKAKS'-;.ALLOCATIONS ! MEETING OF BOARD OF GOVERNORS (JJy Telegraph—Special to "The Mail") WELLINGTON, This "Hay. Year bv year the benefits derived from litis well known charitable trust by pliilatilliropie objects are steadily being extended. The trust. Inis now been in operation since 191”, and during Ilia I lime over .1' RIM.fiOO has been distributed amongst eligible institutions and organisations. This year the largest ami.nut yet of in any one year is being distributed. The a Minin i meeting of the hoard of governors of I lie T. G. Macailliy Trust was ’ held in the Executive Council mom, Government, liiiildiugs tu-dav. There were present : Ills Excellency the Governor-General (Sir Charles I'Vrgtissou), the Prime Minister (the Rigid lion. Sir Joseph Ward), liis Grace Archbishop Redwood, his worship the Mayor (Mr O. A. Troup). The Public Trustee (Mr .f. W. Macdonald, G.M.G.), the chairman of the advisory committee to the hoard of governors, was also present. The Public Trustee submitted his annua.) report, and balance sheet in respect of the administration of the trust, and stated that the operations for the year had been very successful, resulting in a, further increase in the net income available to he dealt with by the hoard of governors. The Public Trustee intimated that lie had continued liis policy of conserving and developing-1 lie assets, this being an important feature of the administration of a perpetual trust. The Public Trustee lias conducted the City and Phoenix Brewery on liehalf of the estate since the death of the testator. The Public Trustee reported that after setting aside adequate reserves from the income, the year lias been a record one and very pleasing results have been obtained.