TRUST YEAR

Wairarapa Times-Age, 9 May 1941, Page 7

TRUST YEAR

SIXTY=NINTH ANNUAL REPORT INCOME & EXPENDITURE, ALLOCATION OF GRANTS. The sixty-ninth annual report of the Masterton Trust Lands Trust states: — “Income and Expenditure Ordinary Accounts. —The income for the year under review amounted to £6701 15s 3d, and the following is a summary of receipts and payments for the year:—

“Property Account. —General expenses amounted to £4090 4s. Of this amount the sum of £796 6s 2d has been expended in the maintenance and general improvement of Trust property, and the Trust loan indebtedness has been reduced by sums totalling £l2BO. The sum of £399 17s 6d has been trans- ; ferred to the buildings reserve fund, 1 and the amount invested in national ; security bonds. ; “Grants. —The Trust has been able to maintain its allocation of grants, and 5 during the year the. sum of £748 10s was allocated from the general account by way of grants to the schools and > other institutions in the district. The scholarship account, has been supple1 mented by the transfer of £lOO from the general account: During the year > the sum of £337 10s was allocated ' from the scholarship account to 23 students who have been prosecuting their ' studies at various institutions. “Opera House— Throughout the year I the Opera House has been used mainly • for the promotion of entertainment for : the raising of funds for patriotic purposes. The funds so raised have been considerable. The Trustees have assisted the societies in their efforts by making refunds of rents in all cases where the Opera House has been used for patriotic purposes. The total amount refunded by the Trustees during the year was £35 2s. The trustees hope that the various societies will continue to make full use of the Opera House during this year. “General. —The year under review has not been an easy one. Owing to ’ war conditions, your Trustees have curtailed expenditure to a minimum, ■ and whilst every endeavour has been 1 made to maintain the buildings and 1 premises in good order and condition, ■ the Trustees have not been able to en- ■ tertain any new development in the ’ way of building. Even so, the Trustees are doing everything possible to con- ■ serve the Trust estate so that they will be in a position to move forward again immediately the time is opportune for them to do so. Masterton may well thank those early pioneers who were responsible for the founding of this Trust. Sixty-nine years ago the lands now owned by the Trust were waste, unwanted lands. By foresight and perseverance the Trust estate has been built up until today there is an annual income of over £6OOO. By the exercise of prudence and foresight, future Trustees will be able to build well on the foundations so firmly laid by the Trustees in the past. Masterton may well be proud of its Trust Lands Trust. “Our thanks are due 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. I extend my sincere thanks to my co-Trustees for their co-operation and assistance during the year. “At the last annual meeting of the Trust voters the following recommendation was passed:—‘That a form of bequest be attached to the annual report, and any funds so bequeathed to ' be used for building and general pur- i poses of the Trust.’ Your Trustees have agreed to adopt the recommendation. : and a form is now circulated with the 1 annual report. 1 “The annual meeting of the Trust < will be held in the Y.M.C.A. Rooms, 1 Church Street, on May 15, 1941, at 7.30 1 p.m. The Trustees hope to see a large z attendance of Trust voters at this meeting. The annual election of trus- t tees will be held on Thursday. May 29. t The three retiring Trustees are Messrs s H. H. Daniell, J. H. Handyside and J. M. Laing." : The report is signed by the chairman, Mr H. P. Hugo.

Receipts Expenditure £ s d £ s d No. 1 Account G503 8 3 5809 2 11 No. 2 Account 186 7 0 381 18 3 No. 3 Account 12 0 0 24 15 9 £6701 15 3 £6215 16 11