PUBLIC TRUST OFFICE.

Wairarapa Daily Times, Volume XIII, Issue 4044, 22 February 1892, Page 3

PUBLIC TRUST OFFICE.

CAPITAL FMDSOFKSTATES placed in tho Public TrustOffico guaranteed by the Colony. By "The Publio Trust Office Acta Amondment Act, 1891," tho Colouy now guarantees the integrity of the capital funds of properties placed in the Publio Trust Office where there is no direction for tho investment of such funds, or whore there is no other direction for their investment than generally, at tho option of tho • Public Trustee, in General Government Securities of New Zealand or in mortgage of real estate within the Colony. ?. Tho Colony also guarantees on such capital funds a fixed rate of interest, to be credited quarterly, free of all office charges, to tho properties from which the funds arise. 3. The value of ihis .guarantee will be obvious when it is considered that it is—(a.) Tho guarantee of the Colony aL'ainst loss from investments in bad or insufficient securities. (b.) Tho guarantee of the Colony against loss from delay in tho investment of nvineys, (c.) The guarantee of the Colony that tho intorest fixed by Ordor in Council shall be regularly and punctually paid, free of all clvir?es of the Publio Trust Office. 4. Tho rates of interest to be allowed by the Public Trust Office on the Capital Funds for investment are 5 per cent on any amount up to £3,000, iml 4 per cent on the amount in excess of £3,000, and theso rates, which are allowed free of all charges, will result in an income of—£so a year from LI,OOO, or B per cent 160 „ 3,000, or 5 per cent 190 „ 4,000, or i\ per cent 280 „ 5,000, or 4 B-fiths „ 270 „ G.OOO, or 4J per cent and so on. J, K. WABBURTON, Publio Trustoe,