“PRACTICALLY USELESS
£750 GIFT TO HOSPITAL FOR RADIUM VALIDATION REQUIRED The gift of £750 made by the Auckland Savings Bank to the hospital for the purchase of radium cannot be used for that purpose because the Savings Bank Act requires the principal sum to be invested and held on trust as a permanent endowment. Only the interest from this sum can be expended on radium. However, the board decided yesterday to promote special legislation to validate the use of the L 750 ou the object, for which it was intended. “It is practically useless it is.” declared the chairman of the board. Air. W. Wallace. “Forty pounds a year for the purchase of radium—why. it is ridiculous!” H© added that the Savings Bamc had made a donation to the* Sailors’ Home and this had been used for capital works, and in another instance thes bank had presented a sum to the Sed - don Memorial Technical College, and the expenditure of the capital sum had been authorised by special legislation.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19300820.2.147
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Sun (Auckland), Volume IV, Issue 1055, 20 August 1930, Page 11
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169“PRACTICALLY USELESS Sun (Auckland), Volume IV, Issue 1055, 20 August 1930, Page 11
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