"SAFE DEPOSIT."

Dominion, Volume 2, Issue 544, 26 June 1909, Page 6

"SAFE DEPOSIT."

LOCKERS AT THE PUBLIC TRUST OFFICE. NEGLECTED OPPORTUNITIES. Tho safo deposit, system, so popular; in other countries, does not scorn to bo appreciated in Wellington. For the last seven years, 97 lockers for tho storage of documents and valuables havo been available at tho Public Trust Office, but tho citizens have made very little uso of thorn. : The lockers will be Tomoved to the.basement of the now offices, which will bo open for business nort ■Wednesday. Peoplo in Wellington have got into the habit of entrusting documents to tho custody of the banks, which make no charge for tho service, and accept no responsibility. The rent of a locker at the Public Trust Office is £1 or 30s. a year, according ,to size, which,is loss than is charged in other coun,tries.' Mr.: Poynton, the Public Trustee, thinks that one reason why. the safe deposit store has not become as popular as it is, for instance, in America, is that there is much less dealing ,in debentures and 'scrip generally in Now Zoaland than in other parts of tho world, and that another reason may bo found in the perfection of our system of land registration, which, makes the possession of titje deeds a matter of minor importance. Should tho safo deposit lockers become popular, room will bo found for, a thousand or two of thorn in the basement of tho now Public Trust building. Seme of the original set of lockers which were acquired by the Public Trust Department wore sent to tho Dnnedin office, and have been used a good deal more than those;which wore installed in Wellington. In favour of tho system it is pointed out that much greater security can bo obtained when tho valuable belongings of several persons' axo, protected collectively and systematically i than when thev arc'distributed at different places of business and in private houses., Less risk of loss is then to bo feared from firo as well as from theft, and people whoso residences are not permanent, or who do not care to go to the expense of buying a Tollable safe, can get all tho protection thoy desfro for thoir plate, jewellery, wills, bonds, settlement*, etc., by hiring ono of tho little lockers at a safo deposit for arty length of time they choose. Lawyers, for instance, often prefer to hiro a series of lockers to guard the moro important papers of their various clients rather than lely upon tho inadequate protection of tho.old tin box on an office shelf. Each renter has direct but guarded access to his own locker with every defence that science can afford against loss by fire or robbery. *