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PUBLIC TRUST OFFICE

The operations of the Public Trust Office) for tho year ended March 31, 191'J, according to the Financial Statement, resulted in a balauce of income over expenditure of .£70,153. This is tho highest amount earned in any one year, notwithstanding heavy expenditure ot an exceptional nature which lias been incurred. Of this amount" 1 the sum' of £33,1(K) has been allocated to estates and' 'bonefbiaries, increasing by one-tenth the interest credited to their accounts during tne year. The Assurance and Reservo Fund has been increased by ctlilO?, and now stands at .£222, HZ. Tho total reserves of the office, consisting of invested accumulated profits and office property ami equipment on which depreciation has 'been fully written off, amount to Assets and funds in estates and accounts under administration amount to -£19,145,901. Of this total, .£10,065,027 reDreseiits amounts held in tho Common Fund or specially invested, and J29,350,874 represents property, real or personal, which has not been realised. Amounts advanced from the Common Fu.nd to local bodies and private mortgagors, together with those invested in Government debentures or. in the purchase of office'property, total X9,SIC, 108. Branches officered by permanent members of the stall' have been opened at Palmerston North, Hamilton. Dannevirke, Taihape, Blenheim, and Timaru. There has been a large increase of. business during the year, nearly 4-500 new estates having coine into the office for administration. Oflice sites have been purchased at Hamilton and Palmerston North, and the erection- of office buildings at those centres will be proceeded with when conditions return moro closely to normal. The provision of further accommodation at Wellington is urgently necessary in viow of the rapid increase in the work of the office. A marked feature of tho year's workhas been the large number of soldiers' estates administered. The transfer from the Head Office to district offices of administration and accounting work connected with estates under tho eontrol of the office has pro ceeded steadily, and will be made still further elective during the current year, The total amount subscribed by the office to tho war loans is .5710,000.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19190925.2.20

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 12, Issue 309, 25 September 1919, Page 3

Word count
Tapeke kupu
348

PUBLIC TRUST OFFICE Dominion, Volume 12, Issue 309, 25 September 1919, Page 3

PUBLIC TRUST OFFICE Dominion, Volume 12, Issue 309, 25 September 1919, Page 3

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