8.—9

Steel-shelving Equipment. 77. In providing the necessary equipment for the strong-rooms in the recently constructed Branch buildings for filing deeds, debentures, and other valuables, attention has been directed to providing adequate protection from fire and attack, and, in addition to the installation of modern doors, steel shelving and cabinets have been used for the interior fittings. By this means it is felt that the Office has provided such security in the different localities as the conditions and circumstances demand. Safe-deposit Lockers. 78. The safe-deposit-locker system, first established at Wellington and subsequently established in other towns, has been further extended, and lockers will very soon be available at Wellington, Dunedin, Napier, Palmerston North, Masterton, Hawera, Invercargill, New Plymouth, Christchurch, Whangarei, Gisborne, Hamilton, Blenheim, Timaru, Wanganui, and Stratford. These specially constructed and self-contained steel lockers, installed in fireand thief-proof strong-rooms, can be rented at a small rental varying from 12s. 6d. a year, with access at any time during ordinary business hours. They provide a ready means for securing the saiety of valuable documents, bonds, debentures, &c., and it is believed that as the advantages of the system become better known there will be a great demand for them. It is hoped to extend the system still further in the future. Custody op Securities, etc., at District Oppices. 79. Consequent upon the delegation of administration of estates to District Offices, arrangements were made for the keeping of securities and valuables owned by clients of the Office and by estates under administration at those offices. Previously when all such valuables were kept in the securities vault at Head Office there was no necessity for special strong-room accommodation at the District Offices, but when the scheme of decentralization was put into operation it became necessary to provide safe custody for the securities and other articles of special value. To this end expert reports were obtained, and following on these reports up-to-date strong-rooms and safes were installed at the various offices. Facilities por Receipt and Payment op Money. 80. The accounting system of the Office affords every facility for the receipt and payment of money on behalf of the Office and its clients. Moneys may be lodged at any of the 106 cities and towns at which it is represented throughout the Dominion, or at any postal money-order office. On the other hand, payments are made at all of the District Offices at which permanent officers are located and at any postal money-order office. As all such transactions are free of exchange, clients of the Office and estates under administration derive considerable benefit. The High Commissioner for New Zealand acts as the Public Trustee's representative in London for the receipt and payment of money as well as for administration matters generally. In many instances regular periodical payments to beneficiaries in estates and to principals of the Public Trustee are made through this channel. Moneys receivable from any part of the British Isles or from Europe or America on account of the Public Trustee are remitted to the New Zealand Public Trust Office Account, London, which is operated upon by the High Commissioner for New Zealand. Fortnightly statements, duly audited, showing details of receipts and payments, are forwarded by the High Commissioner. The system operates very smoothly, and greatly facilitates the transaction of business on the other side of the globe. Protection op Mortgage Securities. 81. In forwarding the annual accounts of this Office to the Right Hon. the Minister of Finance last year the Controller and Auditor-General pointed out that there was no authority in the Public Trust Office Acts for the expenditure of money in protecting the Public Trustee's interest in mortgage securities that had fallen into his hands through the default of mortgagors. The Controller and AuditorGeneral pointed out that, as it might be necessary in the interests of the Office to incur expenditure of this nature in future, consideration should be given by the Government to the advisability of introducing an amendment of the existing law,

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