MONEY IN TRUST

Sun (Auckland), Volume III, Issue 712, 11 July 1929, Page 10

MONEY IN TRUST

ECHO OF HUNTLY DISASTER CHRISTCHURCH SUGGESTION (From Our Own Correspondent) HUNTLY, Wednesday. A suggestion by the member for Christchurch North, Mr. H. Holland, that funds held in trust by the Public Trustee in connection with the Huntly mining disaster of 1914 should be transferred to the West Coast earthquake funds is not possible under the terms of the trust deed for the benefit of the dependants of those who lost their lives on that occasion. It Is douDttul if the figures quoted, £ 1,100, are correct, as several beneficiaries are still living, but a clause of the deed makes it clear that if the fund completes >ts purpose, any balance can only be used for a similar happening—a mining disaster. This was decided oy the Supreme Court at Wellington on August 4, 1915, by the then Chief Justice, Sir Robert Stout. The trustees were the late Mr. J. P. Bailey and Mr. Fred Harris for the Huntly Town Board, and Messrs. Joseph O’Brien and John Wesley for the trade unions concerned. Mr. Holland’s statement was mentioned at the meeting of the Huntly Town Board by Mr. Sheeran. who asked what was the exact position. It was decided to ascertain the details from the Public Trustee.