AMERICA DISCOVERS MACARTHY TRUST
FINANCE MAGAZINE ARTICLE An American finance journal, “The Trust Companies’ Magazine,” has discovered the Macartliy Trust, and publishes an enthusiastic review of it and its administration. The Macarthy Trust arose under the will of Tnomas George Macarthy, a Wellington brewer, who left £389,689, half of the annual income from which goes to a life tenant, and the remainder to charitable and educational institutions. It is administered by the Fublic Trustee to whom the article pays a particular compliment. In the years since 1912, when the trust was set up, the principal has been increased to £409,244, and £109,027 has been distributed to charitable objects through the agency of the board of trustees. This year the sum distributed was £13,600. The magazine remarks a notable analogy with the community trusts which have been set up in over 50 American cities.
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Sun (Auckland), Volume I, Issue 217, 2 December 1927, Page 12
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143AMERICA DISCOVERS MACARTHY TRUST Sun (Auckland), Volume I, Issue 217, 2 December 1927, Page 12
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