Nelson Provincial Gazette – 1859 – No. 4

Page 12

✨ Nelson Trust Funds Reports

12

Provincial Secretary's Office,
Nelson, February 9, 1859.

IN conformance with the provisions of the "Nelson Trust Funds Act, 1854," the following Report, as adopted by the Trustees of the Nelson Trust Funds, is published for general information.

ALFRED DOMETT,
Provincial Secretary.

ANNUAL REPORT OF THE BOARD OF TRUSTEES OF THE NELSON TRUST FOR THE YEAR ENDING 1ST DECEMBER, 1858.

In their last annual report the trustees entered very fully into the consideration of the various questions connected with the administration of the funds entrusted to them, under the impression that they were making their final report; certain defects, however, in the act passed by the General Assembly rendered it impossible to proceed to a fresh election; and another act was passed in the last session, continuing them in office during another year, and legalizing their previous proceedings. The uncertainty, which prevailed on this question for the first six months, rendered the trustees unwilling to take any steps which were not absolutely required for the safe custody of the funds; and at a later period, when several matters of public interest were brought before them, they preferred leaving them for the decision of the trustees about to be elected in their place. For these reasons, the funds at their disposal remain much in the same condition as they were at the beginning of 1858, with one important exception. The sum of £3,000, which had been previously promised to the Provincial Government for educational purposes, was paid as provided for in the act, and the money is now in course of being employed for the purposes designed. The balance remaining due from the Home Government, mentioned in the last report, has also been received, and the settlement of all claims in that quarter been finally arranged.

The Reserved Religious Fund has also been increased by the addition of the annual interest, and now amounts to the sum of £1,487 15s.

The sums which, in accordance with the terms and intentions of the trust, they have devoted to the important purposes of promoting steam navigation, and an education as complete as the educational state of the province requires or admits of, are producing the beneficial results which were expected from them; and from the conditions attached to their employment, lead us to anticipate that the advantages we are deriving from them will be of a permanent character.

Subjoined is the annual financial statement for the year 1858.

By order of the Board of Trustees,
A. G. JENKINS,
Secretary.

Trust Funds Office,
21st December, 1858.

ABSTRACT of the ACCOUNTS of the NELSON TRUST FUNDS, for the Year ending the 1st December, 1858.

GENERAL ACCOUNT.

Dr.	£ s. d.	£ s. d.
To Amount of Trust Funds brought on from 1st December, 1857, as shown in Accounts to that date, viz.:-
Religious Reserve Fund	1,316 10 0
Steam Navigation Fund	9,000 0 0
Reserve Fund	5,461 3 6	15,777 13 6
To Final Amount obtained from the Lords Commissioners of Her Majesty's Treasury, per Mr. TYTIER, in liquidation of all Claims		1,030 13 3
To Interest Account, for Interest received during 1858		486 14 11
		£ 17,295 1 8

Cr.	£ s. d.	£ s. d.
By Religious Fund Reserved-
Loans	1,300 0 0
Balance in Hands	187 15 0	1,487 15 0
By Steam Navigation Fund-
Loans	9,000 0 0	9,000 0 0
By Reserve Fund-
Loans	5,850 0 0
Disbursements	362 12 8
Balance in hands	594 14 0	6,807 6 8
		£ 17,295 1 8

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Nelson Provincial Gazette – 1859 – No. 4

Page 12

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🏘️ Publication of the Annual Report of the Nelson Trust Funds Board

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🏘️ Steam Navigation Fund Account

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Dr.	£ s. d.	£ s. d.
To Amount of Fund from December 1st, 1857		1,316 10 0
To Interest Account, for Interest on Loans received during the Year 1858		171 5 0
		£ 1,487 15 0

Cr.	£ s. d.	£ s. d.
By Loans on Mortgage, 1st of December, 1857		1,300 0 0
By Balance in hands of Trustees		187 15 0
		£ 1,487 15 0