Trust Accounts for the Year Ending March 31, 1940.
|To Prize, 1938, Dr. Hosking||50||1||3||By Balance 31/3/39||126||0||2|
|Prize, 1939, Professor Bartrum||50||1||3||Interest||54||3||10|
|Engraving Medal, Professor Bartrum||0||8||0|
|To Audit Fee||0||5||0||By Balance 31/3/39||295||10||2|
|To Audit Fee||0||2||6||By Balance 31/3/39||1||15||4|
|Half Interest to Cap. Account||1||1||7|
|To Audit Fee||0||5||0||By Balance 31/3/39||34||19||11|
|One-tenth Interest to Capital||2||5||6|
|To Audit Fee||0||2||6||By Balance 31/3/39||50||5||6|
|Balance||59||8||2||Interest on £50 in Public Trustee's hands||1||15||0|
|To Investment Inscribed Stock||249||12||0||By Balance 31/3/39||267||6||3|
|To Investment Inscribed Stock||307||4||0||By Balance 31/3/49||327||5||0|
|Administration Exs.||1||5||0||1939-40 Sales of Publications||33||14||11|
On the motion of Mr. Eliott, seconded by Professor Segar, it was resolved that, except by resolution of the Council, interest on the Hutton Fund shall not be added to the Capital Fund, but shall be treated as revenue. This revenue may be invested in Government Stock or other trustee securities.
At the request of one of the members of the Council, it was decided to incorporate the capital accounts in setting out the statements of trust accounts.
Carter Legacy: Professor Evans reported on the action taken by the Standing Committee to enable the Carter Legacy, which had been left by the late C. R. Carter for the erection of a brick room in which to house the collection of books left to the Society and the Museum, to be utilised in such other ways as seem to accord with the object of the legacy, namely, the safe-keeping of the books. The sum of £50 had been left for this purpose, and accrued interest had increased the sum to £266. This, however, was entirely inadequate for the purpose of the legacy, and an application (through Messrs. Brandon, Ward, Hislop and Powles) had been made to the Supreme Court to allow the fund to be used:—
(1) For the purchase of steel bookcases in which to house the books in question;
(2) In binding one complete set of the pamphlets (at present in duplicate) which formed part of the book collection;
(3) In the upkeep of the books and in adding as opportunity offers further books on or relating to New Zealand.
On the 15th May a copy of the order of the Supreme Court was received approving the above application and authorising the Public Trustee to hand over to the Society the sum of £50 which was still in his hands.
Hon. Editor's Report: