TRUST LANDS TRUST.

Wairarapa Age, Volume XXXII, Issue 10044, 14 May 1910, Page 5

TRUST LANDS TRUST.

MONTHLY MEETING. The monthly meetirg of the Masterton Trust Lands Trust was held last evening. There were present: — The chairman. Mr C. E. Daniell and Messrs R.JKrahagen, W. H. Jackfor, E. G. Eton, D. Caselbeig. H. C. Robinson, T. Michell, T. Wagg and 0. Pragnell, and the becretaiy, Mr A. Hathaway. Correspondence. —From the Arrbulance Brigade forwarding cbtque fjr balance of rent fcr Town Eal * and thanking the Trustees for doration of £5 ss, and appiylrg for the use of the Fire Brigade Shed when given up by the Brigade. -The Trust decided with regard to the latter request that it had no jurisdiction. Mr J. Payne, asking for a definite reply to his offer re leasirg Town Hall.—lnformation forwarded. Mr R. Miller, thanking the Trustees for scholarship grant. Mr Colin Grant, re scholarship applying for instalment of grant.—Granted. Gas Committee, offering to lease No. 1 shop in new brick building for fire years at £2 per week.—Left in tte hands of the Building Committee with a recommendation of refusal. Fire Police, asking the Trustees to donate a medal to the Brigade fcr Town Hall only.—lt was decided to donate a medal value ' two guinea ~. Captain ol Mounted Rifles, applying for grants in aid of corps.- Granted conditionally. H. A. Jones, forwarding final certificate for payment of £302 on contract for new brick building—Left in the hands of the Building Committee. Mr A. R. Bunny, solicitor, forwarding fair copy *-£ agreement between the Trust and Messrs Hayward and Vile.—Received.

Finance.—The Treasurer reported that there was a credit balance &t bank of £IOO 19s sd. Accounts an> ounting to £436 13s 5d were passed for payment.

The annual report stated inter alia:—

The total rents received from properties amount to £1,240 16s 6d, this sum being £139 16s 8d less than the previous year. The loss of buildings in the Star Block by fire in Kay,, 1909, accounts for this shortage, Tfea credit balance at the beginniigof ihe year was £l6B 17s lOd. At the end of March, 1910, it was £453 2s lid. In May, 1909, a fi. j destroyed one building and part of another. The tenements destroyed were let previous to the fire at £l7B 2s per year. An amount of £632 4s was received under insurance policies. Of this sum £lls was spent in repairs to adjoining buildings damaged by fire and "water.

Your Trustees decided to build 9U the sits cleared by fire. The building was recently finished, and is now ready for occupation. The total cost, with the partial remodelling of the sewerage to better seive the tenancy of Town Acre No. 72, was £4,223 14s 3d. Of this amount £3,898 14s 3d was paid during tbe financial year, leaving £327 to Le paid in the current year. To provide funds for the erection of this building the sum of £3,800 <?as borrowed, the money from insurance providing the balance. Legislative authority was given.

through the year to enable exchange of lands between the Justice Department and this Trust to be completed., and as soon as the proposed new police quarters are erected, the Trust may hope to take possession of the lands fronting Queen Street, and the Government have been notified that the Trust are preparted to complete"

The portion of the old Post Office building used for some years for Technical School purposes being no longer required on its old site, this Trust cooperating with the Technical School managers who owned tbe building provided a new site near the District High School, and removed the building, repaired and renovated the structure generally, arranging at the same time with the Mastertcn School Committee to use it as a museum. The Committee will also take charge of the valuable exhibits collected during many years ny Mr R. Brown while he acted as secretary to the Trust. It is hoped that the Museum will prove instructive to the young students. The cost of the work dune by the Trust was £129 17s 4d.

The usual grant of £IOO to the Technical School has been made, and the Trustees note with satisfaction the good work done here, where some three hundred scholars made last year 75 per cent, of attendances. A sum of £2OO ba,s been granted to sixteen successful scholars to aid them in the prosecution of their, various studies at the High School and the University.

From the town Hall rents have been received totalling £268 15s. The cost of administration, insurance, etc., was £l3B Is 2d. The balance shows but a small return on the investment, but in addition to this return the hall is available and often used for public purposes at a small or no charge.

The financial liabilities of the Trust under its borrowing powers are as follows:—On the Town Hall loan, 51,000, repayable in 1912 Against this an amount of £SOO is placsd at interest. Of this latter sum £250 was set aside during the past year. On the £IO,OOO authorised, the Trust has borrowed £5,100. A sinking fund, vested in the Public Trustee for the redemption of this loan now amounts to £56 2s 4d.

The report, which is to be presentee! at tun ainuai meeting in-the Town Hall on Monday night, was adopted.