TRUST GRANTS

Wairarapa Times-Age, 15 May 1942, Page 4

TRUST GRANTS

APPRECIATION EXPRESSED ANNUAL MEETING, CHAIRMAN REVIEWS POSITION. Congratulations were extended to Hie Masterton Trust Lands Trust at the annual meeting last night, Avhen several speakers expressed their thanks for grants given by the Trust ■ and referred with satisfaction to the year’s results. The meeting reaffirmed the view that the Memorial Park should be taken over by the Masterton Borough Couixcil. The chairman of the Trust, Mr H. P. Hugo, presided. Mr Hugo reviewed Trust affairs from 1934 to the present day, stating that in that period there had been practically one continuous uphill fight against adevrsity. First of all they had to contend with the slump period, in which the income had been compulsorily reduced by £l2OO per annum—a number of these compulsory reductions were still operative—and on top of that the damage caused by earthquake had. to be made good, all from a reduced income. Dealing with the past year, he said the rents received totalled £6014, which was the highest rental return yet received by the Trust. Other income, apart from the Opera House, received on behalf of the No. 1 Account totalled £274. Grants amounted to £BB3. Of that sum, £665 was allocated for the benefit of primary and secondary schools and £2lB to other institutions. Repairs and maintenance absorbed £982 and borough rates £579. Insurances had increased primarily as a result of the war damage risk. Miscellaneous expenditure totalled £385. OPERA HOUSE. . “I am sorry to state that the Opera House has not shown anything like the return that it should,” said Mr Hugo. “Rents received totalled £9O, which is the lowest return since the Opera House was restored. It is to be regretted that more use is not made of the Opera House. The Trust general fund has to find some £3OO per annum to keep this building in operation. I would again state that this building was restored to its present condition primarily to foster our local societies and also to have a hall in the town that is not monopolised by pictures. The trustees hope to see when the war is over more use made of the building by our local societies.” Mr Hugo proceeded to refer to Trust loan indebtedness and to the buildings reserve account. During the year £2OOO of the latter fund was invested in War Loan Inscribed Stock, and previously £399 had been invested in National Savings Bonds. SCHOLARSHIP GRANTS. Referring to the Scholarship Account, Mr Hugo said grants totalling £260 had been allocated during the past yeai' to 19 students. Last year the fund had been supplemented from the general account to the extent of £l5O. No revenue had been received from the Memorial Park and the credit balance had been reduced from £49 to £2B. Mr Hugo regretted that efforts made during the year to get, the Borough Council to take over the park were unsuccessful. The Trust’s past year had been a reasonably successful one. Until the war was won they would have to move slowly. The Trust still had substantial areas of undeveloped lands and the Trustees would develop these as time and funds permitted. There could be no spectacular movements, but a steady building up of resources, as it was in that way that revenue was built up with benefit to those entitled to participate in the Trust bounty. Mr Hugo expressed his thanks to Mr Alex. McKenzie, secretary, for his services during the year. Mr E. G. Coddington congratulated the Trust on the position of affairs and assured them that the various grants made, especially those for educational nurposes, were very highly appreciated. On behalf of the Central School Committee, the Primary Schools Library, the body controlling physical education in the schools, and as chairman of the Masterton Dental Clinic Committee he expressed thanks to the Trust. The grant to the retardate class had enabled equipment to be secured that made it possible for these children to be given training that would be useful in after-life. The grant for free school books was also greatly appreciated and was most helpful. Speaking as chairman of Whatman School, Major Dick thanked the Trust for its grants to the school and to the Whatman Home. He endorsed the value of the grants given to the retardate class. Appreciation of the Trust’s action in making grants to the West School Committee was expressed by Messrs H. P. Dugdale and E. Tooby. MEMORIAL PARK. Mr J. H. Cunningham congratulated the Trust on the year’s working. Masterton, he said, was fortunate in having a Trust with assets of £90,000. He regretted that nothing had resulted from the negotiations between the Borough Council and the Trust for the taking over of Memorial Park by the borough, as there were several sports bodies in Masterton in need of grounds. He expressed the hope that in the future something would come of the proposal. Mr F. C. Daniell proposed that the meeting should reaffirm its belief that control of the park should be in the hands of the Borough Council and not the Trust Lands Trust. He asserted that borough councillors were in the wrong when they had stated that there was a breach of faith on the part of the Trust in connection with the negotiations. It was the duty of the borough to provide playing areas, but its record was not one to be proud of. With the exception of South Park, he did not think it had acquired a solitary acre of land. He deeply regretted any attempt to commercialise sport. Councillor C. E. Grey seconded the motion, stating that it was his opinion that the borough should provide playing areas for the town. The motion was carried unanimously.