H.—ll

8

The Income of the Public Trust Office Year by Year, from 1890 to 31st March, 1896, inclusive.

The accounts of the Public Trust Office are kept on an approved and well-tried system ; and it has been found, as the result of the most competent investigation, that the arrangements for carrying out the system " are expeditious and correct, tend to lessen labour, and facilitate the business .of the office." The keeping of the accounts of the Public Trust Office, light as the task has been, and large as is now the volume of the transactions, has become easier from practice and from familiarity with the systemThe foregoing statements exhibit the income of the office as exceeding the expenditure by £1,940 4s. 3d. during the fifteen months to the 31st March, 1895, and £1,162 lis. Bd. for the year which ended on the 31st March, 1896. It will be observed, however, that the expenditure for the first of these two periods includes a deficiency amounting to £340, arising from the realisation of mortgage securities, while for a similar deficiency an amount of £1,272 is included in the expenditure of last year. The deficiencies which have resulted from the realisation of mortgage securities for investments of the Public Trust Office have all arisen out. of investments made before the passing of the Act of 1891, by which the colony guaranteed the integrity of such of the capital funds of_ such of - -•- the estates as should be subject either to no direction for investment or to no other direction than that the investments should be in Government securities of New Zealand or in mortgage of real estate within the colony. It was estimated, after an investigation in 1891, that these deficiencies would amount approximately to no more than £5,000, and on the 31st March, 1896, the whole of the deficiency which had actually arisen amounted to £5,371 3s. lOd. The amount has been met, as the accounts show, out of the profits of the office, and no loss of capital has, therefore, fallen on any estates for which the investments were made.

Year ended 31st December, 1890. Year ended 31st December, 1891. Year ended 31st December, 1892. Year ended 31st December, 1893. Fifteen Months ended 31st March, 1895. Year ended 31st March, 1896. intestates iVills, trusts, &c... ieal and lunatics Native reserves ... iVest Coast Settlement Beserves... Vliscellaneous £ s. d. 1,604 7 7 1,967 10 3 362 11 4 865 12 8 £ s. d. 1,723 0 6 1,849 18 10 503 5 11 615 4 3 £ s. d. 1,695 18 8 1,872 15 1513 15 6 492 2 9 £ s. d. 1,341 5 3 1,871 7 4 477 19 9 682 14 8 £ s. d. 1,615 7 7 2,275 10 1 839 1 9 731 0 4 £ s. d. 1,494 15 9 1,555 17 9 524 5 5 628 5 6 575 0 7 100 6 2 587 3 5 192 3 5 743 3 8 594 18 6 711 11 3 2,242 4 4 1,264 17 2 2,340 7 7 1,569 8 6 1,909 14 9 'nterest 5,475 8 3,595 12 7 5 5,470 16 4,308 12 4 5 5,912 14 6,177 7 2 7 7,327 2 7,369 10 7 9 9,066 10,163 4 6 6 7 7,682 7,560 7 7 8 2 Cotal income 9,071 1 0 9,779 8 9 12,090 1 9 14,696 13 4 19,229 11 1 15,242 14 10 Cotal expenditure 8,469 0 0 11,751 0 0 14,001 0 0 15,132 6 7 17,289 6 10 14,902 15 0

On the 31st Dec, 1891. On the 31st Dec, 1892. On the 31st Dec, 1893. On the 31st March, 1895. On the 31st March, 1896. £ £ £ £ £ The capital funds of the Public Trust Office amounted to ... ... ... •■■ 523,269 Of which the amount held in cash at the credit of the Public Trustee's Account was 17,920 523,269 567,062 615,663 668,937 774,533 17,920 15,961 21,326 12,101 16,960 Leaving a balance invested of ... ... 505,349 505,349 551,101 594,337 656,836 757,573 The investments consisted — Of those made by the Public Trustee out of the common fund, and amounting to ... 252,279 Of those made for the Public Trustee for estates, and amounting to ... ... 208,188 Of those made by other trustees of properties afterwards transferred to the office 44,882 252,279 208,188 408,231 96,072 406,220 144,198 358,296 259,279 492,788 206,629 44,882 46,798 43,919 39,261 58,156 505,349 505,349 551,101 656,836 757,573 594,337 The capital funds invested were applied to ____„,. investments— In Government securities of the colony to the amount of ... ... ... 188,608 In local-body securities, to the amount of 2,067 In mortgage of real estate, to the amount of 253,070 In fixed deposits, to the amount of ... 60,319 In companies, to the amount of... ... 1,285 Total ... ... ... 505,349 269,608 2,067 276,393 1,449 1,584 300,108 2,067 289,680 630 1,852 295,108 1,839 354,933 444 4,512 319,108 1,839 432,455 4,171 551,101 594,337 656,836 757,573