Historical information

The Presidents Fund was created in 1932 by a donation from Legatee Walter W Berry from his late father's estate "to help temporarily embarrassed Melbourne Legatees" towards the end of The Great Depression.
The aim of the fund was the give the President a way to help needy cases with discretion and without having to gain approval from committees. In many cases the money was repaid by the recipient.
This document is dated 1966 written by President R S Isherwood, it outlines the fund started in 1933 with an initial payment of $100 (which would have been £50 at that time). Legatee Berry passed away in 1933 and his estate passed to Equity Trustees who continued to make annual payments to Legacy. The other documents are copies of a letter from 1933 outlining the intention of the trust and a letter from 1966 to record details of arrangements wth Equity Trustees.
This document was in a folder labelled President's Fund Origin and Authorisation with many other documents that included correspondence, receipts of donations and material about when money was given to help appropriate cases.
The folder was marked with H40 which is part of an early archive project from the late 1960s and early 1970s.

Significance

A record of the President's fund which was a fund that allowed the President to help fellow legatees with discretion.

Physical description

White file paper x 5 pages with black type outlining the origin of the President's Fund with copies of past correspondence to support.

Inscriptions & markings

Handwritten in blue ink on top left 'Copy for Information' and on base of first page 'Approved by BOM 14 December 66'.