The Garden Island. [volume] (Lihue, Kauai, H.T.) 1902-current, 1920-01-13
MAKE SURE OF
OUR FINEST PARK

At the recent meeting of the Kauai
Chamber of Commerce the matter of
providing for the annual premiums on
the endowment insurance on the life
of w. d. McBryde in the interest of
the upkeep of Kukuiolono Park, after
the demise of the donor. came up for
consideration and was referred to the
parks committee for investigation and
suggestion.
The committee saw Mr.. McBryde
the other day and secured from him
an outline explanation of the matter,
which sheds much light on it, and will
assuredly commend it to public inter-
est and favor.
Anxious to secure to the public the
Kukuiolono park, which has been his
pride and dream for many years, and
to make provision for its care and de-
velopment, Mr.. McBryde, on the ad-
vice of interested friends, has decided
the property over to a body of trus-
tees, five in number, who in the event
of his death, are to handle and admin
acting on competent advice, he took
out an endowment policy on his own
life for the sum of 100000 in six diff
ferent policies of $4,000 each, the en-
tire proceeds from which at his death
to pass into the hands of the board of
trustees for the benefit of the park,
for upkeep and development Neither
Mr.. McBryde nor his heirs will re-
ceive any benefit from this endowment
insurance, either now, or at the time
of its maturity.
There is at present no income, other
that that furnished by Mr.. McBryde
himself for the care and upkeep of the
park While he will continue to care
for the park entirely at his own ex-
pense so long as he is able, he cannot
provide for its future development
otherwise than by means of this in
surance plan; and spending every
cent that he can afford, as well as
simply cannot provide for the annual
premiums on . the insurance-that
must be done by the beneficiaries,
viz: the public. They will amount,
he thinks, to about $4,000 year, an
amount however that will be some
what reduced as dividends on the in
surance accrue.
1t is much more valuable property
than is generally realized. Naturally
people suppose it is the park alone as
at present developed, but it is far
more than this, being in fact the whole
tract within the outside circular road,
some $50 acres in extent. At the
time the deed of gift was executed it
was valued, on the basis of 500 an
acre for the land, and actual cost for
the buildings, etc, at 100000, but it is
worth far more than that now, since
land values as we'll as buildings, etc,
have doubled.
MuCu VI tilo oui piuo iuhu 10 nv"
planted to pines on rental basis
from which some $500 or $500 in
come is derived, which goes to the
benefit of the park. The plan prob
ably will be to extend the park grad
ually, by the development of this out
lying tract, but mean time it will furn-
ish revenue for the care and upkeep
OF the same.
Public spirited friends who have
realized the benefit and value of the
park to the public have for two years
met the premiums on the insurance
policies, but these are now in arrears
and there is great danger lest they be-
come delinquent and this splendid
gift be lost to the public for all time.
1t would be Observation-Disclosures
1t is a splendid opportunity that
should mt be lost.
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