TRUST YEAR

Wairarapa Times-Age, 6 May 1940, Page 6

TRUST YEAR

SIXTY-EIGHTH ANNUAL. REPORT

SCHOLARSHIP & OTHER GRANTS

ELECTION OF THREE MEMBERS THIS MONTH. Tlie sixty-eighth annual report of the Masterton Trust Lands Trust, to bo presented by. the chairman, Mr 11. P. Hugo, al the annual meeting, states: ‘■lncome and Expenditure Ordinary Accounts. —The income for the year under review amounted to £GSG9 8s 4d. and the following is a summary of receipts and payments for the year: Receipts. Expenditure.

“Property Account. —General expenses amounted to £4.221 14s 9d. Out of this amount the sum of £998 16s 5d has been expended in maintenance and general improvement of Trust, property. The sum of £1.130 has been paid in reduction of the Trust loan liabilities, and your Trustees have again been able to place the sum of £4OO to the Buildings Reserve Fund. GRANTS "Following the gradual improvement. in Hie Trust revenues, your Trustees have been able to widen the scope of their activities, and grants totalling £704 have been allocated and paid from the General Account. The Scholarship Account has been supplemented by the transfer of £2OO. “From the Scholarship Account grants totalling £240 have been made. Of this sum £165 . has been paid to thirteen students who have been prosecuting their studies at the various Universities, and £75 in the way of special grants to four students. Of these, one is studying Y.M.C.A. work in America, another is taking a special course in art at the Art School in Christchurch, a third is undergoing a special course in library work, and the other is an engineering apprentice in Wellington. “The claims on this fund have been considerable, and the revenues from the special Scholarship acres have not been sufficient to meet the payments made thereon. In consequence, it has been necessary to supplement this account. by transferring £2OO from the General Account. OPERA HOUSE “Your Trustees would like to see greater use made of the Opera House by local societies and institutions. Tn order lo give local societies every opportunity to help themselves, the Trustees have kept rental charges at an absolute minimum. It is pleasing to the Trustees that his Worship the Mayor has been able to use this building on several occasions for special functions. “Annual meeting.—The annual meeting of the Trust will be held in the ; Y.M.C.A. Rooms. Church Street, on May 15. 1940. at. 7.30 p.m. The Trustees would like to see a large attendance of Trust voters at this meeting. “General—Our thanks are duo to the Audit. Department for completing the annual audit. We also extend our thanks to the Press for the publicity given and the interest shown in the affairs of the Trust at all times. To my co-Trustees I extend my sincere thanks for their co-operation and assistance during the year. “The annual election of Trustees will take place on Thursday, May 30. 1940. The throe retiring Trustees are Messrs R. P. Hugo. p. Krahagen and R. Page.”

£ S’, cl £ s cl No 1 A/c. 6.371 1 ‘1 6,100 9 4 T?o 9 A /t\ 1S6 7 0 ■ 279 9 3 No 3 A/c. 12 1) 0 26 1 0 £6.569 8 4 £6.405 19 7