THOUGHTS FOR THE TIMES
I’rm.ic Tnu st Omen. 'l'lie security which the Puh.ic I rust i lllico oilers to those who commit their estates t i its calc is greatly valued bv it-> i licnts and lias led t’> ail astonishing growth of the tlllico s operations. this security the patrons of the Office bine apparently been content to receive substantially loss in Hie way of interest (whore the estates are ill the Common Fund) than the Olfioo charges to those to whom it lends money. The Cilice has thus lecn able to make a handsome profit every year, in spite of its making in many instances unocoiioinically low charges for its services. . . The making of profits has
always been declared by the Public Trustee to he foreign to the design of the Cilice, the profits actually made having always been represented as purely incidental to the carrying out bv tlie Cilice of till' business for which it was constituted. The aecejitaiue of deposits lias no object except the making rf profits, is foreign to the purposes of the Office, and ought to be discontinued.— Christchurch “.Press.”
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Hokitika Guardian, 30 October 1924, Page 2
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187THOUGHTS FOR THE TIMES Hokitika Guardian, 30 October 1924, Page 2
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