| Description | Meeting held at the Royal Society.
Present: Sir Henry Lyon in the chair; Sir FrankSmith
1. Minutes of previous meeting read and signed
2. Committe recorded their regret at the death of Sir Walter Fletcher, and it was resolved ' To report to the Council their regret that owing to the death of Sir Walter Fletcher there was a vacancy on the Committee, but to point out that it might not be desirable to fill this at present. '
3. Discussed financial actions taken to pay duty on the fund, and balance now remaining of £12005 - 5 - 1 Government fo Australia 3 and 3/4 stovck 1948/53
4. After discussion of future needs, Committee resolved ' To take £600 from the interest which had accumulated during the interim period January 1932 to November 1933, and allot it to the educational purposes of the Fund.'
5. Committee further resolved ' That as there had been numerous charges on the Fund during the interval since the death of Sir Alfred, such as Estate and Succession duties, and as the Committee had found it impossible to get considered statements from the relatives of Sir Alfred in time to take action in the current year - the first year of the Yarrow Educational Fund be deemed to start from 1 November 1933. The initial capital of the Fund being £12,005 - 5 - 1 Government of Australia Stock together with £545 - 3 - 9 to be invested. '
6. After consideration of a draft letter and memorandum it was resolved ' to circulate both to the children of Sir Alfred for their information, together with a list of his descendents, at present known to the Committee, for emendation. '
7. Agreed ' that a letter should be sent to Mr Normasn Yarrow of Vancouver, asking if he wished to submit a statement to the Committee in connection with the possible education of one, or more, of his children in England '
8. ' While Members of the Committee agreed to accept the sum mentioned as honorarium in lieu of expenses etc., established by Sir Alfred Yarrow in making the Trust, they resolved : to waive their claim to Committee Attendance Fees for the present year. ' |