804 Proceedings. 
Minority Report. 
ч s President of the New Zealand Institute, Nelson. 
«€ Sir. 
While I regard the Le pete of the committee as outlining a scheme of 
decided educational value, I am yet pelled to "pone from the view that the scheme 
at ough rter Fun 
of the telescope, something very much in advance of the present proposal, a telescope 
very much bigger tha the King “telescope. There were at the time of the will other 
£5, re un 
a Вары obligation to ы, ше fund grow until a orthy memorial can be provided from it. 
It would be more fitting to pro куйше їп веуега1 aie rs’ time a memorial of some grandeur, 
and one of which the nie d have cause to be proud, than to provide at once 
a memorial on a very muc imalle ua even though the former course w would involve 
that our successors, and not we ourselves, should derive benefit from. it. 
“ = Е В. KIRE. 
Wellington, 6th January, 1922.” 
Reinvestment of Trust Funds.—On the Tth February a proposal by the Hon. 
parast came before the Standing Committee to transfer its trust funds—namely, the 
e Hut 
Carte Hee Fun 
hands of the Public Trustee into Government war bonds or other investment where the 
interest was ee, higher: On ne 12th February the m "Treasurer repo 
in favour of reinvesting the fu = in Government inscribed stock at 5j per cent. Ata 
meeting of the Standing Committee held on the 12th March the following resolution 
ssed: “That the He he. Hutton, and Carter Trust Funds be reinvested after 
e sist March, 1921, in Government леа E bearing interest at 53 per r cent. 
It was e resolved * That the Public Trustee be given notice of the intention to bin 
whole amounts as soon as possible if the above resolution is co ed by 
general таве of the Board”; and “ ir of the purchase of stock to be left in the 
hands of wie Hon. Treasurer and "Hon. tary." 
Sec 
ao urable opinion was ена с on the llth May from Messrs. Chapman, 
Skerre t, Tripp, and за. who had been approached ав to the power of the Board to 
reinvest "the fu nds, and an extra piss qx general еа 0 = iod Roue of оазе 
securities = provided for by legislation covering trust-moneys, power to arrange "sal 
and to act to be given to the Hon. Se sports aid th Hon. ireasuret acting ng conjointly." 
Similar resolutions concerning the Hutton Memorial Fund and the Hector Memorial 
Fund w v ay ves Age 9th June a deputation consisting of Professor E Е 
Dr. Co cain ‚ Mr. Aston, and Mr. Von Haast waited upon the Public Trustee, en 
promised that the бенен ot the three funds—the Carter ее the Hutton and 
uer ate AUN Epia r with the accrued ive est thereon, would be paid gies 
the r of the New Zealand аео te on the Ist ws 1921. On 
su Sane the Hip ачу Jepartéd Ma gor ‘bed stock, bearing interest 
at 54 per cent., at 914, in amount large enough do absorb all the capital and On 
interest of the three funds, forward delivery to be made on the 1st July, I 
and Mr. B. C. 8 
ima On the 25th J xy the Hon. ‘Secretary reported that the investment of the three 
funds had been completed, and it was resolved spore deposit the certificates of titles with 
the Bank of New Zealand p safety. 
Library Housing.—On the 11th Ma state of the 
y the matter of the congested 
library was brought up, and it was resolved that, the question of the possible dang 
