OFFICIAL ASSIGNEE ESTATES.

Dominion, Volume 4, Issue 1097, 8 April 1911, Page 10

OFFICIAL ASSIGNEE ESTATES.

Sir—, The report of the meeting of crc(lilors in the ffitsoir estate, held .it the ofiices of the Official Assignee, makes interesting reading. It shows that one firm luis had practically a monopoly of the business from the Assignee's office. Surely, when the Public Trustee is willing to accept offers and to wll properties in the various estates in his hands through any reputable land agent or firm, the Official Assignee should have no ilttficulty in so doing. Again, the properties sold by order of the Supreme Court aro sold through iho various firms doing business in Wellington, and as no complications arise (herefrom, it . should not be difficult for the Official Assignee to be able to do the same. It is a noteworthy fact that the auction sales by , order of the Registrar of the Supreme Court aro equally distributed amongst-the auctioneering firms in the AVellington district* In tho report of meeting above referred to, it is stated that the firm selling stock in the l'innoek estate was'paid tho usual commission, 10 per cent. This will be news for most of the live stock auctioneers. Any slock firm would be pleased to conduct clearance sales of farm, livo stock, mm plant at 5 per cent, commission, plus cost of advertising,-whilst * tho rc-eogmsecl charge for sales of land is 5 per cent, on first. dU2OO and 21 per cent, on tho balance. Tt is true that tho commission charged bv auctioneers of furniture is 11) per cent., a:\d badly paid at that, compared with oilier classes of stock and property. ]t is snrelv in the interests of estates placed in the Official Assignee's hands that they should be placcd in more than olio agents' hands for- sale, subject to the usual month's sol?'agency, to tho firm auctioneering tjie same. Tho above mutter is ono that will stand a lot of looking into.—l am, etc., AUCTIONEER.