TRUST YEAR

Wairarapa Times-Age, 4 May 1942, Page 2

TRUST YEAR

SEVENTIETH ANNUAL REPORT INCOME OVER £6500. USE OF THE OPERA HOUSE. The annual report of the Masterton Trust Lands Trust states:— “Your Trustees herewith submit the seventieth annual statement of accounts: — “Income and expenditure: The income for the year amounted to £6574 3s 4d, and the following is a summary of receipts and payments for the year:—

Property Account. “General expenses amounted to £4466 3s 2d. Of this amount the sum of £982 11s 8d has been expended in the maintenance and improvement of Trust property, whilst rates, insurances, land tax and interest absorbed £1379 6s 6d. The trust loan indebtedness has been reduced by £1230 during the financial year just closed, and £4OO was transferred to the buildings reserve account. Grants. “During the year the sum of £BB3 5s 3d was allocated from the general account by way of grants to the schools and other institutions in the district. This is an increase of £135 on the grants allocated last ydar, and the increases have been mainly for the benefit of the primary schools. Grants totalling £260 were allocated from the scholarship account to 19 students who have been prosecuting their studies at various institutions. Opera House. “Your Trustees would like to see more use made of this valuable building. In restoring the Opera House in 1937 your trustees had in view the fostering of local talent and improving the amenities of the town. That this building-has its uses was amply demonstrated when over £lOO was raised for patriotic purposes as the result of two concerts organised by our soldiers. General. “During the year your trustees were able to invest £2OOO in the New Zealand .War Loan. This investment was made from the buildings reserve account, and your trustees have in view the.making of further investments from this account during the year in order to assist the war effort. “The coming year is not going to be an easy one. The war is now beginning to show its effects on all classes of business, and it is reasonable to expect that this Trust may be adversely affected during the year. “We extend our thanks to the Audit Department for completing the annual audit so promptly.- This department, in common with many others, is working under adverse conditions. We also extend our thanks to the Press for the in-i? terest shown and the publicity given to the affairs of the Trust. Annual Meeting. “The annual meeting of the Trust will be held in the Y.M.C.A. rooms, Church Street, on Thursday, May 14, 1942, at 7.30 p.m. Your Trustees will be pleased to see a large attendance of Trust vot-' ers at this meeting. Annual Election.. “The annual election of. Trustees will be held on Saturday, May 30, 1942. The three retiring Trustees are Messrs E. G. Eton, C. E. Grey and A. 0.. Jones.” The report is signed by Mr H. P. Hugo, chairman.

Receipts. Exp. £ s d £ S d No. 1 A/c .... 6447 16 4 6205 4 8 No. 2 A/c .... 126 7 0 293 19 9 No. 3 A/c 20 17 7 6574 3 4 6520 2 0