Thank you for correcting the text in this article. Your corrections improve Papers Past searches for everyone. See the latest corrections.

This article contains searchable text which was automatically generated and may contain errors. Join the community and correct any errors you spot to help us improve Papers Past.

Article image
Article image
Article image
Article image

PUBLIC TRUST OFFICE

'ANNUAL REPORT INCREASING BUSINESS—MORE V PROFITS. •'■ The annual report of tho Public Trust Office was presented to the House of Representatives yesterday by the Hon. A. L. Hordmaii. ■■ ■■■ . ■ ' . .The net profits for the year were £29,222. The growth of: the business ;is shown by the following table, which covers the past six years:—..' ". . ''. . .' ■■. . ' ;• :• Number '■' ; I ; Tear-;, on v .'Value of- '/Net' ended.: ■: ■■■staff.*-- , ! Estates.- profits. 1909 •:..... 103 6,399,567 10,850 1910. ...... 112 7,368,947 11.738 1911..:,..::... 138 -- 8,112,342.; . 11,241 1912 :...... 160 9,493,959) 25,919 1913 ....... 182 11,2(33,311 27,551 1914 ; ....... ; 205 .12,282,833 ■'■.■ 29,222 In , order that estates riia'y share in the prosperity of the office, says the Public the common fund rate of: interest has been raised from U per cent, on the first £3000 and 4. per cent, oil the excess, to- 4J.per cent;' on tho first , £6000 ;ajul 4* percent, on the .excess. ;Moreover,' the; new.scaje applies to. local bodies' sinking funds, •which' , formerly received only 4 per,cent, rheso increases amount. approximately .to £3.000 a year, and canio into operation on Apnll,'l9l4. :. : ' '-; vj: TJnder powers, conferred by last year's Aqt- thb 'oflico Board, has beeii strengthened' by,'.the;.,appointment of two nonService.members. Tho'gentlemen selected, were .Mr." G.. E. Tolliiirst, for - many years'the Chief Inspector in New Zea-landofthe-Uiiion'Bankyand Mr: Wi.O. Foster,'the. managing .director of the Wellington- : Meat . 'Export-, , .Company; Tliese'igentlenion have special knowledge of finance and,of -stock; arid station matters.'.aiid.l am satisfied'that thdir-'pre-•'sonpe-on;the-board Will-not. only bo of CTcatvassistance,to; the, , Public Trustee; • butc will also;do much to strengthen the confidence of the public.in'tho offico administration of, , tho largo ailil important interests: entrusted to it... ■ -. '■'-' '•The; following is a statement showing ,the net. profits of ithoTubjiO-Trust Office! for the ten'.years" ended 'March 31, 1914:—1905, £13.955 7s. 2d.";-1006, £11,959 195. : 9d.;' 1907.C £11,653. 3s. 6d.; 1903,-.£9,639 14s. 6d.;'1000, , £10,850 lls.:4d::; 1910, £11,73S 17s. 10d.; -1911, £11,241 65. , 8d.';,.1912, :£20,f119.185. ,Bd.; ;1913, ,, £27,55i , ;85: ; 4d.; 1914, £29,222.. . .//It ;willVbe seen.'fhat the.-profits'.for, the last.'year,are .the "largest; bii recbrcK : It has been decided to, close the agency at Masterton/; and establish' in its' stead a?"branch"•under officers, of the permanent staff. : Tho. change "I will-'re suit :,'iri. greater ..efficiency,: .without greater; '/ex-; ponse.:/ :' ;'; '}':yy', '■■ ■]' ■ :/' ; : : •.'. ': • ,, : , - - ■'Activ.e steps'are being;. taken under the. West Coast.Settlemont, Reserves Amend-. ;meht 'Apt, 1913.. In: ahnoßu' every ; instance tho European , lessees'have elect-; ed..to take new leases. , ',. are.'.in'progress, and I :am*.hopeful.'that; tho;'scheme iof.settlomenii.': provided .by ;tlie:Act.will 1 prove .satisfactory to■-. Tall concerned.': •'. !■.•':'■■. i. v^. , :.■'.;' .-.- ■■■,':■■ . ;.The".effect: of: tho PAbio. Trust Oißco Amendment Act, 1913,;, is i to. greatly extendjthe fiiriatioiis of. tho Public Trus T , fee,'and thereby,increase the uiefuln'ees of thc.otfice , .'-.) Aniongst ptlief things,;the Act provides for tho ,; appointment of Advisory Trustees where the Public Trus-. tee. administers , 'the estate* also for his appointment as CustodiaiuTrusteo where the' active, adntinistratipn is .in; the , hands', : p'f 'jpr jviiti "trustee's;.j,;)V[oreqver,; ,iib 'iqaseV:pf.'priya{e- : powors';;ttie Public Trustee tolihaye the accpuntß audjtod and'investigated'6iV the Application a?' ; ahy beneficiary or 'private; tmntee. -Numerous inquiries,hayo been, niade'.bn all;,theso.:. points,/'and;;!.,:'nm; satisfied. : thnt"-persons ;-interest<>cUwill avail;themselves very/freely of the pro r referred ,, to!;. ',■:. ;■; ;, ■■.•' '■ ■-";;.■ '"-.■:'

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19140711.2.24

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 7, Issue 2199, 11 July 1914, Page 5

Word count
Tapeke kupu
495

PUBLIC TRUST OFFICE Dominion, Volume 7, Issue 2199, 11 July 1914, Page 5

PUBLIC TRUST OFFICE Dominion, Volume 7, Issue 2199, 11 July 1914, Page 5

Help

Log in or create a Papers Past website account

Use your Papers Past website account to correct newspaper text.

By creating and using this account you agree to our terms of use.

Log in with RealMe®

If you’ve used a RealMe login somewhere else, you can use it here too. If you don’t already have a username and password, just click Log in and you can choose to create one.


Log in again to continue your work

Your session has expired.

Log in again with RealMe®


Alert