ENDOWMENT TRANSFER
TARANAKI LAND BLOCK LITTLE VALUE AT PRESENT The suggestion by the Government to resume the Opaku Reserve, Taranaki, as a national endowment for the benefit of the proposed University of Northern New will have little A ect on the general revenue, involving an increase of only about £*26o a year, but will reduce the number of Taranaki scholarships temporarily to one. This block, which consists of 7,092 acres, forms the principal part of an area of 9,551 acres, which was set aside if! 1914 as an endowment for the iaranaki scholarship. This award is ’ yearly and is tenable for three • ears, being- a\*ailable only under certain residential and age qualifications. The area is vested in the Crown in trust 9.s an endowment and is adminis-
tered by the Taranaki Land Board, l chiefly being rented at a. rate oC 5 per I cent, on ca.pital value on 33-year leases. J Although the block is in the centre of a rich dairying district, it includes rough country and is some distance from main arterial roads. Last year the total revenue was only £420 12s, of which about £l6O was received from tho Carlyle block. This sum will probably still be retained for distribution through tho scholarship.
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Bibliographic details
Sun (Auckland), Volume IV, Issue 1052, 16 August 1930, Page 10
Word Count
207ENDOWMENT TRANSFER Sun (Auckland), Volume IV, Issue 1052, 16 August 1930, Page 10
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