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Hokitika Guardian, 20 July 1920, Page 2

The report of the Public Trust Office for the year elided March 31st, 1920, laid on the table of the House last week, shows that date there were 14,079 estates under administration, of a total value of £20.860,686, being ail increase, in value for the year of £1,618,839. Tlie profit earned during the year was £78,. 246, as compared with £70,156 for the previous year. The balance at credit of estates under administration now reacli es nearly £12,000,000 an increase c" £1,850,000 during the year. In a period of less than 20 years, it is pointed out, the balances at credit of estates under administration have grown from less than £1,000,000 to nearly £12,000,. 000. For the past four years the office has shared the profits with its clients: and for the year ended March 31st 1920 it has appropriated the sum of £38,000 as a bonus to estates under its administration, making’the total appropriation under this heading to date £153,000. The total reserve funds’ now exceed £439,000. Advances on mortgage to a total value of £2,492,651 have been made during the year. The Public Trustee has been appointed Commissioner of Local Bodies’ Sinking Funds in 823 cases, the total amount of the funds involved being £423.802. The total amount of the Government sinking funds to date is given as £4,557,959. The passing of the Amendment Act of last year, the report states, has enabled the Board to give effect to the policy of decentralisation. The status of nine additional offices has been raised. The change has rendered possible the more expeditious transaction of business, and has been much appreciated by clients. A site for a new building ' has been secured in Customs street east,. Auckland; a new site has been pur-1 chased in Oxford terrace, Christchurch, and the site previously held satisfactorily disposed of; in addition to the purchase of a new site at the corner of Stout and Ballanee streets, Wellington, negotiations are proceeding for the acquirement of adjoining sections in order to secure space lor the provision of future accommodation. Building activity in other centres is also chronicled.