PUBLIC TRUST OFFICE.

Hokitika Guardian, 18 September 1924, Page 3

PUBLIC TRUST OFFICE.

Til F YKAIt’S WORK INC. The i; port on the working < f the PoI.IF Ti ust Olli-c, which was pre.,tilled t > the .1 louse hy the .Minister ol I'iuame. shows a nu ,1 satisfactory state of progress during the last twenty years. In Ih'Dl the value cl estates under the adminixtrat on of the ollice "as £3,.771 ,927. and since that year a steady increase has been shown until for the year 1921 the figures have reached jb.T2.J0 1.72 I.

The report states that the growth of business during'the year lias been well maintained. 271’!) estates, ol a total value of £3.781.1-77. having heen accepted for administration. On March TI, 1921, there were 10,.7T< estates and funds umlvr administ rat ion. the total value being £T2.1!!!.72L For the third year ill sur;r«:.i';;i the ill rea-.. of hit iu .hi t Nt'reded £T.< 00.000. N'olw illtst autli'-g I lie large in< : of business during the past year, the working expenses atv only s'ightly in excess of these for the previous year. The expenditure for the yenr 1923. was £.’178,707, while for 122! it v.in £IBO.GIT, tin inc rease of only £9T(I excluding depreciation. The total revenue :i,inoui.te;l to £2-77.023. as (ompared with £2-10,092 for the previous year. This resulted in the earning of a profit of £07,0 12, as ctnnparetl with 2-78.709 Icr the prcccding year. This profit has heen made, after providing for the expenditure which an ordinary commercial undertaking would have to meet, im'.tiding the payment of iimcni:* tax and allowance of do; re; inlion on plant and buildings. The profit, lor the year 19*21 wits CO-7,-712. as against £.78.700 for the year 192 T. The Public Trustee has Loon in : f coition to materially assist in the development of the country by providing fends for advante on mortgage to tar mer.s and others, nod for loans to local Bodies for works'"of public utilliy. During the year the new money advanced reached the considerable total of £2.198.18.7. Of this large sum £1.122.870 was advaiueO li.y way <>t mortgage, chiell.v on country seemities ami £1:18,71.7 was invested in loial hod) dehenttires. The small number r.f eases in which securities for (flue advances have had to he taken over by the Public Tnistce and realised at a loss is a tribute tn the care which has heen exercised in making the invedmeuts of the office. The of "ills deposited with the Public Trust;e for safe custody o:,ntinites to increase at a rapid rale. During the year .7097 additional wills were re'eived, making the total on doped t as at March TI. 1921. 39.G82. Alanv "ills in which the Public Trustee is named as executor are a!-o held hy hanks and private solicitors. The following return shows the yearlv in l reuse of wills deposited Hu a period of ten years frm -March TI. 1911, to March 31. 1921: - Number of "ills on deposit at Ala,relt 31. 191 I ... ••• 127

Number of wills on depo-il at March At. 1021 ... ••• 80.082 To regard to the foregoing table, it should he remembered that from the outbreak of war until peace was declared a la roe number of soldiers wills were deposited, so that the mimI or now being received has overtaken that reached durian the war period.

X f t iiUTonso for your omling:— 191o ... 1.117 mill ... :l..1 tl mi; ... ... 4.881 mm ... ... 4.781 1010 ... ... .‘1.187 m-jo ... ... l.si-Vi 10*21 ••• ... 3.ofl 1 m»:> .. ’’’ ... 8.18H 10*2:1 ... ... :i. Hi HI 10*21 ... ... 4.180