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1909. NEW ZEALAND.
PUBLIC TRUST OFFICE (REPORT RELATING TO THE).
Presented to both Houses of the General Assembly by Command of His Excellency.
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The Public Trustee to the Right Hon. the Minister of Finance. g IRj ' Wellington, Ist September, 1909. I have the honour to forward you a statement of the business done by the Public Trust Office during the year ending the 31st March, 1909. On comparing it with those of previous financial years it will be seen that the transactions are increasing in volume, and the profits are highly satisfactory, the net profits for the year being £10,850 11s. 4d. New Building in Wellington. This has been completed. Instead of paying rent, as in the past, a considerable sum will be received from tenants. Apart from this, the work of the staff in a properly ventilated and well-lighted building must conduce to efficiency. Advantage was taken of the opening of the new premises to have a conference of agents with a view to introducing reforms which were thought to be necessary in conducting the business through the agencies. Some valuable suggestions were made, and will be acted upon as soon as possible. The growth of the business will necessitate more accommodation in the large towns of the Dominion, and it would be desirable to acquire building-sites with a view to erecting offices when required. In the course of a few years the Department will be compelled to decentralise much of its business, and this will mean more work at its branches. At Christchurch the Manager has been compelled, before the present lease expired, to get fresh offices, owing to the increase of work. At Greymouth the miserable office is a disgrace to the institution. A building should be erected there for the office without delay. West Coast Settlement Reserves. The tenants hold leases under two systems. When the Act of 1892 was passed it gave a right of perpetual renewal, with protection for all improvements, Ho lessees who took holdings after the passing of the Act. Those who were tenants under the Acts of 1881 and 1887 were by the Act of 1892 allowed to change their leases so as to come under the provisions of the latest Act. One of the conditions was that they would have to pay a new rental based upon a : valuation of the land when the choice wa§ : made. As many of the lessees were paying very low rentals compared with the value of the lands in 1892 and afterwards, they did not elect to come under the 1892 Act. During the present year two of the, old leases expired, and, as there were several points that required elucidation, a Supreme Court decision was obtained, the office paying the whole costs of the case. The Court decided that the leases were perpetually renewable, but that bushfelling and grassing were not improvements. As many of the tenants had spent large sums of money on clearing and grassing, this interpretation is hard on them. Unlike the lessees under the 1892 Act, who own all improvements, the lessees under the earlier Acts are protected up to £5 per acre only, and, as it was believed before this decision that all kinds of improvements were included, some of them have borrowed on them. The Act should be amended to cover all improvements up to the amount of £5 per acre. An effort will probably be made to put the leases under the former Acts on the same basis as those granted under the Act of 1892 ; but this should not be done, for these reasons :-— , (1.) Opportunities have been several times given to the tenants to change their tenure, but they did not accept them. Paragraph (h) of subsection (3) of section Bof the Act of 1892 gave them twelve months in which to change. By section 10 of " The Native Reserves Act Amendment Act, 1895," this term was extended to four years, and by section 20 of " The Reserves, Endowments, and Crown and Native Lands Exchange, Sale, Disposal, and Enabling Act, 1898," two more years were given. The new rentals of three leases which fell due this year show what a low rent the tenants were paying under the old leases, and why tfiey were reluctant to change : Old rentals, £157 Is. Id.; new, £649 6s. 6d. (2.) In dealing with these reserves there was not sufficient land reserved for the occupation of the Natives if they should at any future time desire to farm their lands. Suitable blocks should have been selected and leased for long terms, but not perpetually. As these leases fell in, the blocks in their improved condition could have been offered to the Natives. The peculiarity of the tenure of the 1881 and 1887 Acts gives the Natives an opportunity of selecting some of the leaseholds for farming. Under the 1892 Act renewals are automatic, the rent, apart from the value of the improvements, being fixed by arbitration. There is therefore no chance of a Native getting into occupation of one of the leaseholds under that Act unless he buys out the tenant. Under the'earlier Acts the value of the improvements up to £5 per acre is fixed by arbitration, and the rent by public competition. As the Natives receive back the rent, if they desire to compete they can, of course, outbid any one else, and can again get into occupation of the leaseholds by paying the lessee for the improvements, which are limited to £5 per acre. This is the only chance they have of getting suitably sized farms in their own districts, and, although they may not take advantage of it, they should not be deprived of the opportunity by changing the tenure. The leases are fairly scattered throughout the reserves area, and are of good land. The number of leaseholds under the 1881 Act is 135 ; area, 18,399 acres. Authority should be given to the Public Trustee to advance sufficient to pay for the improvements if the Native owners desire to purchase them.. There would be ample security.
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Poukawa ISTative Reserve. ; i ; The drainage of the lake and swamp on this reserve should be gone on with either by the Government or the Public Trustee. The estimated cost of draining is £6,000; increased value of land after reclaiming, £28,000. It will require fresh legislation before the work is undertaken. I feel certain the alarm felt by the riparian owners as to possible damage to their lands from the contemplated works is not justified. Little or no injury will be done them, and a time should be fixed when claims for prospective damage should be lodged. The amount, if any, to be paid could be then fixed by some specially constituted tribunal, and the whole cost of the works, including such compensation, would be ascertained before starting. Greymouth Native Reserve. An agitation against the office has been started by some of the lessees of the Greymouth Native Reserve. This is supported with more vigour than discretion by the local Press. "It is because of this growing feeling that we believe the time is ripe for the Greymouth Native lessees to press for a deliverance from the tyranny of the office of Public Trustee." "It (the Public Trust Office) is no longer the unassuming, popular, and efficient office that it was in its younger days : it has waxed fat and begins to kick."' " It has escaped the wholesome influence of public opinion that is more or less felt—and to their great benefit —by most other Departments in our Civil Service." " Judging by the attitude that has been taken up regarding the Native reserves by the Public Trust Office of late, the only proper course would seem to be to get the whole question removed out of its hands with all the celerity that is possible." " They (the tenants) have learned that there are other landlords as graspingly unfair as the traditional ' Irish landlord,' who lias earned a character for the most sordid extortion." These are some of the statements printed with a view to working up feeling in the matter, and a strong committee has been elected to alter the present system. The reserve (in area 500 acres) is nearly all occupied for business or residential purposes. A few facts will prove that the lessees are not being oppressed. The Government valuation of the portions leased is £95,371. The gross rentals are £3,509. This is less than £3 15s. per cent. The actual value of the reserve is, however, considerably more than the Government value : the Mayor of Greymouth, speaking at a public meeting on the 23rd July last, stated, " For some years the Borough Council had declined to go in for revaluation, though that was legally necessary every three years. The reason for this was that, if the values went up, extra rates would have to be paid, besides which the Native owners would speedily take advantage of it to increase their rental." Some figures relating to various leases will show that the Native owners in many cases are not getting what is due to them : — Rent at 5 per cent, on Section. Block. Rent paid. Government Value, 1904-5 'j (unimproved). £ s. d. £ s. d. ! 52 and part 53 2* 11 12 0 25 0 0 Part 100 12* .. .. .. ..800 17 10 0 ~62 10 .. .. .. ..600 11 10 0 „ 100 12) ~130 12 .. .. .. .. 12 10 0 20 1 0 „ 131 12J 291 c 17 .. .. .. 8 10 0 14 5 0 292 E ,293a 2?1 - ••13 7 6 23 6 0 P : rt ! 3 3 9 7 B A 25} - 71 ° ° ~150 38 .. .. .. ..800 11 13 0 2a, 2b 4j 81 f" •• 5180 8213 ° 86 - 4) Part 163 a 37 .. .. .. ..500 9 15 0 216, 217 34 .. .. .. ..500 15 10 0 *In these cases the lessees are the proprietors of the two local newspapers. The lessees of the other sections are members of the committee. Other facts may be mentioned. One of the committee was the lessee of Section 317, Block IX, containing 1 rood 1 perch ; rent, £15 per annum ; date of lease, Ist July, 1901. He sold his interest in 1908 for £2,000. The purchasers immediately removed the old buildings on the leasehold and rebuilt. The amount paid was therefore for his interest in the leasehold only. Other cases are : (a.) Rent paid, £1 10s. per annum j the lessee sold for £40 ; his successor sold for £256. (b.) Rent paid, £3 ; the lessee subdivided, and sold for £355. The purchasers in these two cases, in addition to paying for the right to occupy, pay a portion of the ground-rent, small as it is. While objecting strenuously to the Native owners getting the unearned increment, some of their lessees are doing nicely out of it. Theoretically the" principle of dealing with this reserve is as perfect as human ingenuity can make it. No Fair Rent Act could better it. The tenants are owners of all the improvements ; the leases being perpetually renewable, with an adjustment of ground-rent only every twenty-one years. In the fixing of this rent the lessee has an equal voice with the representative of the owners. Failing
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agreement, the difference .is settled by arbitration. The tenant, instead of having his capital sunk in the land, can use it in his business or for other purposes. In actual working it is, however, one-sided. The arbitrators and umpire, where one is necessary, are local men, and from a whole community directly or indirectly interested in the issue it is difficult to get judges to take an impartial view of the matter. The reason is as old as humanity, "No man can be a judge in his own case." A word of commendation is due to those men who, as valuers or arbitrators, have up to the present stood out for what they considered fair. The feeling, prompted by self-interest, on the question of rent is, however, growing so strong that it will soon be difficult to get such men to act for the Natives. An amendment of the Act is urgently needed. The fixing of the rent should be by a Stipendiary Magistrate empowered to take evidence on oath in order to ascertain what is a fair ground-rental. An outside Magistrate should be appointed to do this work. His expenses would be paid by the office, and the costs of arbitration now paid by the lessees would be saved to them. As an alternative, arbitration should be abolished, and the rental fixed at 5 per cent, on the unimproved value of the land included in the lease as shown on the Government roll value at the date of the renewal of the lease. All areas occupied by churches and schools should pay a peppercorn rental only as long as used exclusively for such purposes. The Native owners would not object to this. I have, &c, J. W. Poynton, Public Trustee.
Revenue and Expenditure of the Public Trust Office for the Years ended 31st March, 1904 to 1909.
* Includes £1,414; cost of plans for proposed new premises. t Includes £548 19s. Id.; cost of plans for proposed new premises. t Includes £1,718 Bs. 4d.; the amount of defalcations of an officer. Note.—The cost of new premises for the Head Office is being defrayed out of the accumulated profits of the office. Number of staff in 1904, 54 ; average salary, £181 13s. : number in 1909, 96 ; average salary, £164 6s.
Income of the Public Trust Office Year by Year from 1903 to 31st March, 1909.
Year ended 31st March, 1904. Year ended 31st March, 1905. Year ended 31st March, 1906. Year ended 31st March, 1907. Year ended 31st March, 1908. Year ended 31st March, 1909. Expenditure. Salaries Commission to agents Clerical assistance and auditing Legal expenses Stationery, printing, and office requisites Assurance and Reserve Fund Miscellaneous Balance, being excess of revenue £ s. d. 9,810 6 8 2,154 1 3 165 19 11 £ s. d. 10,363 15 2 2,360 8 7 555 0 5 £ s. d. 11,219 1 5 3,064 17 8 591 13 11 £ s. d. 12,177 12 4 2,904 4 1 626 3 1 £ s. d 13,662 18 2 2,997 18 7 438 3 4 £ s. d. 15,772 1 0 2,934 7 5 738 19 10 262 18 3 504 11 10 236 18 9 785 1 0 246 11 6 726 13 8 287 8 7 903 3 11 274 18 0 1,294 18 2 313 19 6 1,162 6 8 1,750 11 4 2,412 1 2 3,488 16 9 2,997 9 9 2,913 5 10 2,409 18 7 *5,446 0 7 7,897 13 4 4,124 9 7 11,543 6 0 f4,690 3 7 8,501 2 6 4,683 15 1 8,976 1 5 J7,467 7 6 5,008 0 4 5,031 8 6 8,440 12 9 27,992 3 2 32,381 0 8 32,529 1 0 33,555 18 3 34,057 9 11 36,803 14 3 Revenue. Commission and charges .. Interest in excess of amount credited to estates Miscellaneous .. 12,536 15 7 14,520 16 3 13,784 8 0 17,790 15 6 14,401 12 1 16,827 1 11 16,844 11 11 15,688 5 1 18,212 2 10 14,704 2 11 18,504 15 7 17,323 10 0 934 11 4 799 17 2 1,300 7 0 1,023 1 3 1,141 4 2 975 8 8 27,992 3 2 32,381 0 8 32,529 1 0 33,555 18 3 34,057 9 11 36,803 14 3
Class of Estates. Year ended 31st March, 1903. Year ended 31st March, 1904. Year ended 31st March, 1905. Year ended 31st March, 1906. Year ended 31st March, 1907. Year ended 31st March, 1908. Year ended 31st March, 1909. [ntestates' Wills, trusts, sinking funds, &c* Real and lunatics' Native reserves .. West Coast settlement reserves linking funds* Miscellaneous £ 8. d. 2,867 3 2 3,042 8 3 £ s. d. 3,064 19 11 4,754 6 0 £ s. d. 2,753 8 10 1 6,084 13 9 £ s. d. 3,407 17 4 6,271 10 9 £ s. d. 3,627 7 1 i] 7,392 18 8 £ s. d. 3,373 14 31 i 8,231 10 io! , £ s. d. 3,553 3 6 >| 7,379 8 2 792 8 9 628 16 7 1,782 7 9 925 8 0 669 14 2, 1,768 0 7 1 1,193 7 11 605 13 5 1,756 13 6 1,103 7 6 555 15 6 1,829 3 11 1,375 7 6 675 18 7 2,000 5' 7 1 1,661 1 11 630 6 11 1,866 10 4 [ 1,333 3 10 603 7 1 2,175 13 6 1,901 17 2 2,288 18 3 2,190 7 9 2,534' 4 1 2,795 15 9 544 16 9 3,045 6 0 567 10 4 3,867 17 10 interest 11,015 1 8 12,777 11 5: 13,471 6 11 : 14,520 16 3 14,584 5 2 17,796 15 6 15,701 19 1 16,827 1 11 17,867 13 2 15,688 5 1 19,353 7 0 14,704 2 11 19,480 4 3 17,323 10 0 Total income .. Total expenditure i, 23,792 13 1 19,467 0 4 1 27,992 3 2 20,094 9 10 32,381 0 8 20,837 14 8 32,529 1 0 24,027 18 6 33,555 18 3 24,579 16 10 34,057 9 11 29,049 9 7 36,803 14 3 28,363 1 6 * Sinkini Funds Account shown Bβ] rarately on 31st March, 1908.
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Capital Funds of the Public Trust Office, and how invested, from 1904 to 31st March, 1909.
Number and Estimated Value of Estates in the Public Trust Office. The following was the number and estimated value of estates in the Public Trust Office on the 31st March on each of the years 1903 to 1909 :—
On 31st March, 1904. On 31st March, 1905. On 31st March, 1906. On 31st March, 1907. On 31st March, 1908. On 31st March, 1909. The~capital funds of the Public Trust Office amounted to Of which the amount held in cash at credit of the Public Trustee's Account was Leaving a balance invested of £ 1,660,716 65,386 £ 1,896,225 82,516 £ 1,880,798 29,402 £ 2,127,700 9,776 £ 2,507,661 62,949 £ 2,850,111 15,741 1,595,330 1,813,709 1,851,396 2,117,924 2,444,712 2,834,370 The investments consisted— Of those made by the Public Trustee out of the Common Fund, and amounting to Of those made by the Public Trustee for estates, and amounting to Of those made by other trustees of properties afterwards transferred to the office 1,477,123 112,689 1,548,112 260,084 1,526,967 319,571 1,695,897 417,607 i 1,887,920 552,372 1,986,750 843,200 5,518 5,513 4,858 4,420 4,420 4,420 1,595,330 1,813,709 1,851,396 2,117,924 2,444,712 2,834,370 The capital funds invested were applied to investments— In Government securities of the Dominion, to the amount of In local bodies' securities, to«the amount of.. In mortgages of real estate, to the amount of In fixed deposits, to the amount of 103,363 117,385 41,896 123,047 217,462 334,180 44,129 1,447,238 600 63,429 1,632,895 91,249 1,718,251 111,344 1,883,533 131,859 2,095,391 190,774 2,309,416 Total .. 1,595,330 1,813,709 1,851,396 2,117,924 2,444,712 2,834,370
imber of Estal £, Class. On On 31st March, 31st March, 1903. 1904. On 31st March, 1905. On 31st March, 1906. On 31st March, 1907. On 31st March, 1908. On 31st March, 1909. Wills and trusts (including sinking funds accounts to 31st March, 1907) Intestates' estates Real estates* Mental patients' estates Native reserves West Coast settlement reserves .. Unclaimed lands Sinking funds Pension funds 744 989 71 802 143 312 253 836 1,062 * 854 119 333 266 955 1,070 940 119 333 268 1,091 1,092 1,031 119 333 311 1,240 1,164 1,082 119 • 333 338 1,510 1,270 1,037 94 460 347 54 4 1,533 1,389 1,128 94 460 342 69 4 Total 3,314 3,470 3,685 3,977 4,276 4,776 5,019 r alue of Estat* )s. Class. On 31st March, 1903. On 31st March, 1904. On 31st March, 1905. On 31st March, 1906. On 31st March, 1907. On 31st March, 1908. On 31st March, 1909. Wills and trusts (including sinking funds accounts to 31st March, 1907) Intestates' estates Real estates* Mental patients' estates Native reserves West Coast settlement reserves .. Unclaimed lands Sinking funds Pension funds Miscellaneous funds Office funds Office premises £ 1,279,743 £ 1,605,143 £ 1,922,303 £ 2,252,813 £ 2,608,942 £ 2,0.00,107 £ 2,504,614 197,368 7,585 170,585 375,000 655,000 21,504 232,695 * 277,779 318,490 343,376 353,760 370,484 208,573 380,000 700,000 26,471 256,645 380,000 715,000 25,628 280,402 400,000 730,000 28,287 284,004 425,000 900,000 28,835 323,542 425,000 935,000 28,580 973,946 241,144 167,629 62,950 20,000 364,985 430,000 940,000 34,712 1,166,000 387,988 106,481 54,303 40,000 25,474 124,868 41,233 62,150 119,775 51,317 93,545 123,630 45,809 123,230 111,943 58,515 174,595 133,276 71,072 Total 2,898,360 3,386,124 3,840,339 4,303,680 4,969,100 5,531,658 6,399,567 * Wow included with unclaimed lj tnds.
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Statement showing Year by Year, from 1887 to 31st March, 1909, the Capital of the Public Trust Office, and How Invested, and the Income and Expenditure of the Office.
Approximate Cost of Paper.— Preparation, not given; printing (1,500 copies,) £6 6s. 6d.
By Authority : John Mackay, Government Printer, Wellington.—l9o9. Price 6d.]
(1) Including £2,280 on account of expenses of Royal Commission. (9) Including £1,100 written off on maturMy of Kalhu Valley Railway Company's debentures and £1 004 for Assurance (2) Including £1,596 on account of expenses of Royal Commission, and £1,717 on account of deficiency on realisation of and Reserve Fund. mortgages. (io) Includes £2,676 12s. 6d. added to Assurance and Reserve Fund, £300 compassionate allowance to widow of late (3) Including £2,041 on account ol deficiency on realisation of mortgages. accountant, and £330 15s. for deposit-safes. (4) Including £340 on account ol deficiency on realisation of mortgages, and £470 for unauthorised expenditure. (ii) Includes £1,750 11s. 4d. added to Assurance and Reserve Fund, and £1,414 cost of plans for proposed new premises (5) Including £1,272 on account of deficiency on realisation of mortgages, £13 for unauthorised expenditure, and £822 (12) Includes £2,412 Is. 2d. added to Assurance and Reserve Fund. for Assurance and Reserve Fund. . (13) Owing to withdrawal of Advances to Settlers Office Funds. (6) Including £180 on account of deficiency on realisation of mortgages, £89 for unauthorised expenditure, and £290 for (i*j Includes £3,488 16s. 9d. added to Assurance and Reserve Fund, and £548 lSs. Id. cost of plans, &c, for proposed Assurance and Reserve Fund. new premises. (7) Including £255 for unauthorised expenditure, and £305 for Assurance and Reserve Fund. (15) Includes £2,997 9s. 9d. added to Assurance and Reserve Fund. (8) Including £488 on account of deficiency on realisation of mortgages, and £443 for unauthorised expenditure, and (i") includes £2,913 ss. 10d. added to Assurance and Reserve Fund. £1,192 for Assurance and Reserve Fund. (17) Includes £2,409 18s. 7d. added to Assurance and Reserve Fund.
Capital or the Public Trust Office. Income of Public Trust Office. Invested Total. Invested in In Investments. Yearly Increase or Decrease in Amount. For Common ~ Trustee. Specially. i. Total Common Local Mortgages Fixed Share Bodies' of Deposits in Securities. Freeholds. _ ™ Com " Banks, panies. Total Expenditure of Office. In Cash. Total. Surplus Interest on Invest- ■ ments. By Former Total. Trustees. > imu ana Special. Government Securities. Total. Commission, Charges, &c. Total. Year ended 31st Dec, 1887.. 1888.. 1889.. 1890.. 1891.. 1892.. 1893.. Fifteen months ended 31st March, 1895 Year ended 31st March, 1896 Ditto, 1897 „ 1898 .. £ 8,315 14,254 964 14,966 17,920 15,960 21,326 12,101 £ 301,226 366,886 462,782 478.895 505,349 551,101 594,337 656,836 £ 309,541 381,140 463,746 493,861 523,269 567,061 615,663 668,937 £ 35,032 71,599 82,606 30,115 29,408 43,792 48,602 53,274 £ 194,261 204,857 216,943 198,622 252,279 408,231 406,220 358,296 £ 87,190 113,649 195,592 232,486 208,188 96,072 144,198 259,279 £ 19,775 48,380 50,247 46,787 44,882 46,798 43,919 39,261 £ 106,965 162,029 245,839 279,273 253,070 142,870 188,117 298,540 £ 301,226 366,886 462,782 478,895 505,349 551,101 594,337 656,836 £ 172,336 220,436 219,208 199,208 188,608 269,608 300,108 295,108 £ 1,907 1,607 2,274 2,174 2,067 2,067 2,067 1,839 £ 126,978 144,783 181,107 215,909 253,070 276,393 289,680 354,933 £ 5 60 59,792 60,001 60,319 1,449 630 444 £ 401 1,603 1,285 1,584 1,852 4,512 £ 301,226 366,886 462,782 478,895 505,349 551,101 594,337 656,836 £ 6,178 7,208 8,528 6,081 5,471 5,913 7,327 9,066 £ 3,735 4,012 5,799 3,080 4,308 6,177 7,370 10,163 £ 9,913 11,220 14,327 9,161 9,779 12,090 14,697 19,229 £ 8,406 8,653 9,145 8,469 (i>11.751 ( 2 )14,001 (3)15,132 (*)17,289 16,960 757,573 774,533 105,596 492,788 206,629 58,156 264,785 757,573 319,108 1,839 432,455 4,171 757,573 7,682 7,560 15,242 ( 5 )14,902 16,664 48,667 841,974 912,971 858,638 961,638 84,105 103,000 588,483 631,816 205,942 251,643 47,549 29,512 253,491 281,155 843,974 912,971 354,108 251,708 1,839 7,839 482,206 651,160 380 3,821 1,884 841,974 912,971 8,124 9,285 6,376 8,648 14,500 17,933 (8)13,569 ( 7 )13,472 1899 13,512 942,641 956,153 Decrease. 5,485 653,710 264,296 24,635 288,931 942,641 160,308 12,839 766,371 1,689 1,434 942,641 10,664 8,473 19,137 ( 8 )16,314 „ 1900 .. „ 1901 „ 1902 .. „ 1903 .. 27,880 53,925 59,501 74,765 1,028,988 1,618,379 1,723,450 1,861,308 j 1,056,868 1,672,304 1,782,951 1,936,073 Increase. 100,715 561,511 110,647 153,122 794,987 1,407,419 1,049,885 1,239,027 214,411 196,230 667,587 616,798 19,590 14,730 5,978 5,483 234,001 210,960 673,565 622,281 1,028,988 1,618,379 1,723,450 1,861,308 137,778 607,798 578,323 578,343 19,439 19,239 28,129 31,129 871,771 991,261 1,116,998 1,251,836 81 1.028,988 1,618,379 1,723,450 1,861,308 11,022 12,375 11,938 11,015 9,835 8,972 13,678 12,777 20,857 21,347 25,616 23,792 ( 9 )15,887 15,656 14,909 (i o )19,467 „ 1904 .. 65,386 1,595,330 1,660,716 Decrease. 275,357 1,477,123 112,689 5,518 118,207 1,595,330 103,363 44,129 1,447,238 600 1,595,330 13,471 14,521 27,992 (ii)20,094 „ 1905 82,516 1,813,709 J 1,896,225 Increase. 235,509 1,548,112 260,084 5,513 265,597 1,813,709 117,385 63,429 1,632,895 1,813,709 14,584 17,797 32,381 (» 2 )20,837 „ 1906 .. „ 1907 .. „ 1908 „ 1909 .. 29,402 9,776 62,949 15,741 1,851,396 2,117,924 2,444,712 2,834,370 1,880,796 2,127,700 2,507,661 2,850,111 Decrease. (13)15,429 Increase. 246,904 379,961 342,450 1,526,967 1,695,897 1,887,920 1,986,750 319,571 417,607 552,372 843,200 4,858 4,420 4,420 4,420 324,429 422,027 556,792 847,620 1,851,396 2,117,924 2,444,712 2,834,370 41,896 123,047 217,462 334,180 91,249 111,344 131,859 190,774 1,718,251 1,883,533 2,095,391 2,309,416 1,851,396 2,117,924 2,444,712 2,834,370 15,702 17,867 19,353 19,480 16,827 15,688 14,704 17,323 32,529 33,555 34,057 36,803 (i 4 )24,027 (i 5 )24,579 (i«)29,049 (17)28,363
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Bibliographic details
PUBLIC TRUST OFFICE (REPORT RELATING TO THE)., Appendix to the Journals of the House of Representatives, 1909 Session II, B-09a
Word Count
4,273PUBLIC TRUST OFFICE (REPORT RELATING TO THE). Appendix to the Journals of the House of Representatives, 1909 Session II, B-09a
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