The RIGHT HON. VISCOUNT PIRRIE, K.P., LL.D. D.Sc., of Witley Park, Godalming, and of Ormiston, Strandtown, Belfast, chairman of Harland and Wolff, Limited, shipbuilders and engineers, Belfast, and a director of Elder, Dempster, and Co., and other companies, and Pro-Chancellor of the Queen's University, Belfast, who died on June 6, 1924, left net estate valued at £322,022. He left:---
Certain annuities to Lady Pirrie, and, subject to these, the income from the property to her for her life, together with a bequest to her (free of all duties) of all pictures, drawings, etchings, books, household furniture, &c.
On her death he leaves the property to the holders of the Ordinary and "A" Preference shares in Harland and Wolff, Limited, at the date of the passing of the resolution for the conversion of the company into a public company (other than the shares belonging to the testator's estate).
He expressed a wish that during Lady Pirrie's lifetime her name should stand first in the register of Harland and Wolff, Limited, and the certificate of title in respect of the shares in that company.
As his life had been spent in the development of Harland and Wolff in directions which he believed were for the good of the nation---he also expressed a wish that death should in no way whatever hinder such development on the lines on which the manging directors were familiar. He stated that the dispositions in his will were for the purpose of giving effect as far as possible to that desire and in recognition of the support given to him in the past by other shareholders in the company; and without imposing any trust or obligation he expressed the wish that the business of the company might in future be conducted as far as possible on the same lines.
The major portion of the estate duty is payable to the Exchequer of Northern Ireland. The prospectus of Harland and Wolff, published last year in connexion with the issue of 4,000,000 First Cumulative Preference shares of £1 each to the public, showed that there were in existence 4,000 Ordinary shares of £1,000 each, of which £3,000,000 was paid up, and also 4,000,000 "A" Preference shares of £1 each, of which £3,095,094 was paid up. These shares were all privately held and must not be confused with the 4,000,000 First Cumulative Six per Cent. shares placed on the market nine months ago.