The Hutton Memorial medal and Research fund.
Declaration of Trust.
This deed, made the fifteenth day of February, one thousand nine hundred and nine (1909), between the New Zealand Institute of the one part, and the Public Trustee of the other part: Whereas the New Zealand Institute is possessed of a fund consisting now of the sum of five hundred and fifty-five pounds one shilling (£555 1s.), held for the purposes of the Hutton Memorial Medal and Research Fund on the terms of the rules and regulations made by the Governors of the said Institute, a copy whereof is hereto annexed: And whereas the said money has been transferred to the Public Trustee for the purposes of investment, and the Public Trustee now holds the same for such purposes, and it is expedient to declare the trusts upon which the same is held by the Public Trustee:
Now this deed witnesseth that the Public Trustee shall hold the said moneys and all other moneys which shall be handed to him by the said Governors for the same purposes upon trust from time to time to invest the same upon such securities as are lawful for the Public Trustee to invest on, and to hold the principal and income thereof for the purposes set out in the said rules hereto attached.
And it is hereby declared that it shall be lawful for the Public Trustee to pay all or any of the said moneys, both principal and interest, to the Treasurer of the said New Zealand Institute upon being directed so to do by a resolution of the Governors of the said Institute, and a letter signed by the Secretary of the said Institute enclosing a copy of such resolution certified by him and by the President as correct shall be sufficient evidence to the Public Trustee of the due passing of such resolution: And upon receipt of such letter and copy the receipt of the Treasurer for the time being of the said Institute shall be a sufficient discharge to the Public Trustee: And in no case shall the Public Trustee be concerned to inquire into the administration of the said moneys by the Governors of the said Institute.
As witness the seals of the said parties hereto, the day and year hereinbefore written.
Resolutions of Board of Governors.
Resolved by the Board of Governors of the New Zealand Institute that—
1. The funds placed in the hands of the Board by the committee of subscribers to the Hutton Memorial Fund be called “The Hutton Memorial Research Fund,” in memory of the late Captain Frederick Wollaston Hutton, F.R.S. Such fund shall consist of the moneys subscribed and granted for the purpose of the Hutton Memorial, and all other funds which may be given or granted for the same purpose.
2. The funds shall be vested in the Institute. The Board of Governors of the Institute shall have the control of the said moneys, and may invest the same upon any securities proper for trust-moneys.
3. A sum not exceeding £100 shall be expended in procuring a bronze medal to be known as “The Hutton Memorial Medal.”
4. The fund, or such part thereof as shall not be used as aforesaid, shall be invested in such securities as aforesaid as may be approved of by the Board of Governors, and the interest arising from such investment shall be used for the furtherance of the objects of the fund.
5. The Hutton Memorial Medal shall be awarded from time to time by the Board of Governors, in accordance with these regulations, to persons who have made some noticeable contribution in connection with the zoology, botany, or geology of New Zealand.
6. The Board shall make regulations setting out the manner in which the funds shall be administered. Such regulations shall conform to the terms of the trust.
7. The Board of Governors may, in the manner prescribed in the regulations, make grants from time to time from the accrued interest to persons or committees who require assistance in prosecuting researches in the zoology, botany, or geology of New Zealand.
8. There shall be published annually in the Transactions of the New Zealand Institute the regulations adopted by the Board as aforesaid, a list of the recipients of the Hutton Memorial Medal, a list of the persons to whom grants have been made during the previous year, and also, where possible, an abstract of researches made by them.
Resolution regarding Investment of Funds (see Clause 4 above) adopted by Board on 30th January, 1923, and published in New Zealand Gazette of 28th May, 1925.
That the fund known as the “Hutton Memorial Fund,” consisting of the principal originally placed by the Board of Governors in the hands of the Public Trustee, together with the interest accrued thereon, be withdrawn from the Public Trustee and reinvested in such securities as provided for by legislation covering trust-moneys, power to arrange details and to act being given jointly to the Hon. Secretary and the Hon. Treasurer acting conjointly.
That until the Hutton Memorial Fund reaches the sum of £1,000 not less than 1 per cent. on the capital invested be added each year to the principal.
Regulations under which the Hutton Memorial Medal shall be awarded and the Research Fund administered.
1. Unless in exceptional circumstances, the Hutton Memorial Medal shall be awarded not oftener than once in every three years; and in no case shall any medal be awarded unless, in the opinion of the Board, some contribution really deserving of the honour has been made.
2. The medal shall not be awarded for any research published previous to the 31st December, 1906.
3. The research for which the medal is awarded must have a distinct earing on New Zealand zoology, botany, or geology.
4. The medal shall be awarded only to those who have received the greater part of their education in New Zealand or who have resided in New Zealand for not less than ten years.
5. Whenever possible, the medal shall be presented in some public manner.
6. The Board of Governors may, at any annual meeting, make grants from the accrued interest of the fund to any person, society, or committee for the encouragement of research in New Zealand zoology, botany, or geology.
7. Applications for such grants shall be made to the Board before the 30th September.
8. In making such grants the Board of Governors shall give preference to such persons as are defined in regulation 4.
9. The recipients of such grants shall report to the Board before the 31st December in the year following, showing in a general way how the grant has been expended and what progress has been made with the research.
10. The results of researches aided by grants from the fund shall, where possible, be published in New Zealand.
11. The Board of Governors may from time to time amend or alter the regulations, such amendments or alterations being in all cases in conformity with resolutions 1 to 4.
Award of the Hutton Memorial Medal.
1911. Professor W. B. Benham, D.Sc., F.R.S., University of Otago—For researches in New Zealand zoology.
1914. Dr. L. Cockayne, F.L.S., F.R.S.—For researches on the ecology of New Zealand plants.
1917. Professor P. Marshall, M.A., D.Sc.—For researches in New Zealand geology.
1920. Rev. John E. Holloway, D.Sc—For researches in New Zealand pteridophytic botany.
1923. J. Allan Thomson, M.A., D.Sc, F.G.S., F.N.Z.Inst.—For researches in geology.
Grant from the Hutton Memorial Research Fund.
Miss M. K. Mestayer—£10, for work on the New Zealand Mollusca.
Professor P. Marshall, M.A., D.Sc., F.N.Z.Inst.—£40, for study of Upper Cretaceous ammonites of New Zealand.