TRUST YEAR

Wairarapa Times-Age, 27 April 1939, Page 8

TRUST YEAR

INCREASE IN REVENUE USE OF THE OPERA HOUSE. SIXTY-SEVENTH ANNUAL REPORT. The sixty-seventh annual report of the Masterton Trust Lands Trust, to be presented at the annual meeting on May 8 states: "The income for the year under review amounted to £6244 9s sd, an increase of £353 19s’ 2d over the previous year. The following is a summary cf receipts and payments for the year: ExpendiReceipts. lure.

"Property account: General expenses under this heading amounted to £4122 6s Id. Out of this amount a considerable sum, amounting to £ll3B Os Id has been expended in rehabilitating premises to accommodate new tenants and in .general maintenance of the Trust properties. A sum of £658 7s 4d was paid in further reduction of the Trust’s loan liabilities. The further sum of £4OO has been added to-the Buildings Reserve Fund. "It is with pleasure that we are able to report that the £5500 Redemption Loan. 1929, has now been repaid.-This was originally a £lO.OOO loan raised for the purpose of erecting new buildings in Queen and Hall streets. Although the redemption of this loan will materially decrease the annual outgoing for interest it will not be reflected in the Trust income for some time-to come as the redemption . payments, under existing loans will be materially Iriorpncprl “Opera’ House: The past year has been the first full working year sine'e the reconstruction, and it is pleasing to note the use that has been made.'Of the building by local societies;-It"'is' not anticipated that income will meet the outgoings for at least some time tp come, but the Trustees feel, that the annual loss is a worth while contribution to the community as it is enabling local institutions to assist themselves and attain their objectives./' “Grants: Following the cessation of grants caused by the earthquake disaster of 1934 the Trustees have adopted a policy of gradual reinstatement. The £455 8s 9d allocated during the past year shows an increase of £125 over the previous year. With the gradual improvement’ being shown in the Trust revenues it is anticipated that the Trustees, will soon be able to widen the scope of these activities. Grants, totalling £152 7s were made from the Special Scholarship Account. -Annual meeting: The annual meeting of the Trust will be held in the Y.M.C.A. rooms, Church Street, on Monday, May 8. 1939, at 7.30 p.m. The Trustees feel that greater public interest should Ije taken in Trust matters and they trust that the attendance at the forthcoming annual meeting will bo more in keeping with the importance of the Trust and its position Jn cur community. “General: Our thanks are again due to the Audit Department for its very prompt completion of the annual audit. Our thanks are also due to the Press for the publicity given to and interest shown in the affairs cf the Trust. "To my co-Trustees I would extend my sincere thanks for their good work and assistance given to me during the past year. “The annual election of Trustees will take place on Thursday, May 25, 1939. The three retiring Trustees are Messrs E. G. Eton, C. E. Grey and A. O. Jones." The report is signed by the chairman, Mr H. P. Hugo.

£ s cl £ s d No 1 Account . . G003 2 5 5684 19 11 No 2 Account . . 181 7 0 191 16 3 No 3 Account . 60 0 0 51 14 4 .£6244 9 5 5928 10 6