A NOBLE BEQUEST.

New Zealand Times, Volume XXXIII, Issue 5366, 8 June 1878, Page 2 (Supplement)

A NOBLE BEQUEST.

■ (Prom the Sydney Evening News). ! Considerable i attention has been attracted.to the statement that his lordship the Bishop of, Newcastle, Dr.Tyrrel; had.' made-a,will leaving the bulk of,his pro-' perty, - ,valued at i£250,000,t0 the diocese, of,Newcastle;: - -The following is the most, important-portion of the statement in the address‘of his - lordship/which was read oh Wednesday last at. - -the" Church; of England Synod, Newcastle. We regret, to hear that Dr. Tyrrel,is not in good or he would have read the open-' ing address himself. . The- following are the amounts required and -the various funds which are to bo endowed ;

{ “ And,” his lordship says, “as a last thought, - how is it proposed to provide this large.amount!” ■ . f “ I have four valuable stations on the Gwydir, Kunopia, and others, which I am advised may be reasonably considered as producing the net profits of £6OOO a-year “ I have also twelve very valuable stations—six.in Now South Wales, and six adjoining in Queensland, on the Culgoa,: and named l together as Brenda station, which, trusting to the judgment of my experienced superintendent,. may he, expected to produce in ordinary years a not profit of £20,000 each year. % > “My superintendent, whom, I have employed' for i many, years, and. have, therefore, tested his complete; knowledge of his- business, and. his reasonable, unexaggerated 1 estimate of the l yearly ■ pro-ceeds-of the stations which - ‘he has managed, assures me that in seven years the Brenda stations will increase in value at least 30 per cent. If they increased 25, per. cent. - it, would; add £SOOO to . their annual net profits,, while the yearly claim for all these funds at the present time will bo— ,

So that the present claims i from these .funds, and my own ..personal expenses,! would be fully .met from my Gwydir station, leaving the whole amount of riot profits from ‘Brenda stations available each year for supplying the principal to these nine funds in the order in which they are placed. “.'Therefore,' if there is no increase of the annual net -proceeds ' of the Brenda . stations, £20,000 a year would, in 12 years, supp y all the principal of the invested £260,000 ; : and. at the end of-that time, when all besque'sts were paid, leave a noble unencumbered:annual income of £20,000 fon the diocese ; ' but'l do not rely upon this; Suppose that future legislation diminishes the value and not proceeds of these stationssuppose they lose the half of their present value, and' : thonetproceedsfrom them are only £IO,OOO 'a-year.' Even then'it will only take 25 years lo.,reftlise ‘from these this united amount of £250,000, and then their income will still be £IO,OOO a year, to bo managed 'by the Bishop of the diocese for the time being and the Synod'or, Diocesan Council for the benefit of the see, or the stations jbs sold and the amount

•obtained for-them, be? invested-in the'4 per. cent. Government debentures, and furnish'-a?!smaller but;-moro- secure income. And-I would- only add that all the amounts of those funds are made bequests hi my'last will and testament; which has; been’ very carefully considered by myself and my'solicitor, with'tlie kind aid of my two executors,’ the Rev. Canon Child and tho Rev'. L. Tyrrel, which has been duly executed-,by me, and is now,in the-hands of Mr.; Alexander Gordon,; receiving his last corrections. : Dr. Tyrrel concludes thus This, ".my;: dear brethren- of theclergy and laity, is my scheme of endowment for this my loved diocese—not to enrich the clergy, but • to make them efficient for the performance of their high duties; the perfecting of the saints, the work of. tho ministry,- and the edifying of the body of Christ,' that you and. yours (yourselves, your wives, your children, and yonr children’s children), may gro w in grace; and hayo more and more your fruit unto.-holiness, iandvthe end everlasting life.” ■■ " ■■ ■ ■ r - ■■■ • ;

1. The. Bishop’s income of £1200 a year ... ... £30,000 2 and 3. The stipends of dignitaries— " 1 archdeacon .. ...£5000 1 3 canons and rural deans 6000 11,000 4. Clergy stipends •; .;' ' 100,000 5 » .Superannuated;clergy, ... ■... 10,000 6. Fund—sick clergy 5,000 7. New clergy 25,000 3. The training of future clergy .,. 25,000 0. The religious instruction of the 44,000 young . ... - ... ' In all £250,000

( 1. Bishop’s income..; ... .£1200 2. Archdeacon r... 200 8. 8 Canons or rural deans,,.. . 210 . 4.; Clergy stipends ... ,.... 800 , 5. Superannuated clergy ... i 400 , 6. Sick clergy ;> ... 200 £8040