8.—9

8

are practically unsaleable except at a great sacrifice, the office has been able to find funds for payment of estate and succession duty and for urgent purposes in necessitous cases. Advances have also been made in certain cases to beneficiaries against their interests in estates. The extent to which this provision has been availed of is indicated by the fact that at the 31st March, 1921, the total amount on loan from the Common Fund to estates and beneficiaries was £374,071. The rate of interest at present current on such advances is 6 per cent. The advantage of obtaining money on such favourable terms for the liquidation of indebtedness cannot be exaggerated, and the system has proved one of the most attractive features of the administration of estates by the Public Trustee.

Comparative Table indicating the Progress made by the Public Trust Office during the Decennial Period 1912-21.

STAFF. 25. The following statement indicates the number of staff engaged in the work of the Department on the 31st March, 1920 and 1921, at the Head Office and at the District Offices : — Head Office. On 31st March, 1920. On 31sl March, 1921. Male. Female. Total. Male. Female. Total. Permanent .. 167 05 232 Permanent .. 152 61 213 Temporary 30 22 52 Temporary 27 9 36 284 249 District Offices. On 31st March, 1920. On 31st March, 1921. Male. Female. Total. Male. Female. Total. Permanent . . 254 77 331 Permanent . . 323 75 398 Temporary 21 17 38 Temporary . . 13 18 31 369 429 653 678 Principal Staff Changes. 26. On the 28th February Mr. P. D. N. Verschaffelt relinquished his duties as Chief Accountant in order to take up the position of Assistant Public Service Commissioner. The vacancy occasioned by his transfer has been filled by the appoint-

Year ended 31st March. Total Value of Estates in Office, including Unrealized Assets. Funds at Credit Interest Bonus „ of Estates and credited to ;granted to T * r Accounts. : Estates. j Estates. lncome - Net Office Profits. Reserves. 1912 1913 1914 1916 1916 1917 1918 1919' 1920 1921 £ 9,493,959 11,268,311 12,282,883 13,580,936 13,598,744 15,065,583 17,153,031 19,242,347 20,860,686 22,364,319 £ 5,070,305 5,799,446 6,366,707 7,096,420 7,082,288 8,058,886 9,004,057 10,065,027 11,911,290 13,918,906 £ 172,907 202,439 230,062 256,806 281,700 287,818 317,633 352,783 420,526 537,890 £ 25,000 27,000 30,000 33,100 38,000 £ 64,873 72,067 82,517 88,296 103,763 129,008 162,614 194,452 240,469 241,090 £ 25,919 27,551 29,222 32,508 46,108 58,862 68,602 70,156 78,246 10,691 £ 120,243 151,011 212,901 250,213 302,369 295,234 345,871 393,377 418,640 437,414 Increase in preceding 12 months 1,503,633 2,007,616 117,364 3,621 *67,555 18,774 * Decrease.