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The value of securities held in safe custody on behalf of estates is £37,896 ; and held on behalf of testators, £13,163. The cash held at credit of estate funds is £275,394. Cash receipts and payments : Cash receipts amounted to £539,472, whilst the payments totalled £539,278. Total amount of Common Fund investments in the district: Flat mortgages, £951,271 ; local body debentures, £340,897. Loans granted from other funds, £270,468. Brief Review of Work of Branches.—The work at the District Offices has been well maintained, and the following figures disclose the salient features respecting the various Branches : — Hastings Branch. —The number and value of 3states and funds under administration on 31st March, 1924, was sixty-five estates, at a total value of £89,108, whilst at 31st March, 1925, ninety-four estates were under administration, of a total value of £170,164 ; from which it will be seen that the value has nearly doubled in twelve months. During the year forty new estates were accepted, valued at £84,667, whilst eighteen estates were closed, valued at £9,026. Eighty-five wills were deposited, the assets of which aggregate in value £397,403. The cash receipts amounted to £106,914, compared with £46,407 during the previous year, showing an advance of £60,000. During the year a tender was let for the construction of new offices and the work is well in hand. This district contains probably the best land in Hawke's Bay. The population of Hastings is approximately fifteen thousand. It is a noticeable feature of the operations of the Office in the locality that during the year we have obtained the wills of numerous wealthy testators, indicating the general favour with which the Department is viewed. Three officers are employed at the Branch. Waipukurau Branch.—The number of estates under administration on the 31st March, 1924, was sixty, valued at £119,454. The number on the 31st March, 1925, was eighty, valued at £154,561. During the year thirty-three new estates were accepted, valued at £45,557. Fourteen estates were closed during the year, valued at £11,221, of which three, valued at £248, were both accepted and closed. During the year seventy-eight wills were deposited of a total approximate value of £344,456, making a total of 428 wills on deposit for the Branch. The cash receipts totalled £48,802, whilst payments amounted to £28,376. Thirty-nine Common Fund mortgages are in existence, totalling £335,907, six mortgages having been arranged during the year, amounting to £38,550. The year just closed is the best since the Office opened in 1920 ; in fact, each year during the period has shown a big increase on the previous one. Eighty estates have been accepted during the last four years, valued at £140,930. The staff throughout the year has numbered three, no alterations taking place. The training of the junior officers is being attended to as far as is possible for a small office. The prospects of the district are particularly bright, a number of the wealthier residents of the district gradually transferring their business to the Office. Waipawa Sub-Branch. —This Sub-Branch has been visited weekly during the year, and fair progress has been made in the district. There is every indication that a steady increase may be looked for in Waipawa. Takapau Agency.—The Agent is gradually making the Office better known in the district, and it is expected will be the means of introducing considerable business into the Office. Wairoa Branch. —Twenty-four estates and funds were under administration on the 31st March, 1924, valued at £53,791. On the 31st March, 1925, thirty-two estates were under administration, valued at £62,300. Fifteen estates were accepted during the year, valued at £8,614, whilst eight estates were closed, of a total value of £730. Twenty-nine wills were deposited, valued at £95,926, making the total now on hand 180. The cash receipts were £15,845, whilst the payments totalled £8,705. The part-time offices at Frasertown and Nuhaka have been visited regularly during theyear. Two officers are employed in the district. Wairoa is a large agricultural and pastoral district, and the prospects of the Office are good. Staff. —The total number of staff employed at Napier is twenty-one, there being no additions during the year. Training of Junior Officers. —The training of the juniors at the Branch has been carried on by the senior officers. Review of Future Prospects. —The prospects for future business in Hawke's Bay are promising, and if the increase in business which has been apparent daring the past year is maintained there is no doubt but that the operations of the Department will reach large proportions. There is no doubt the Office is gaining the confidence of the public. Realizations.—The following are approximate details of the realizations of estate assets during the year : Mortgages repaid, £32,266 ; shares sold, £286 ; realty sold, £15,342 ; miscellaneous, £36,585 : total, £84,479. In addition assets amounting to £67,296 were transferred to beneficiaries during the year, making a total of £151,775, representing assets either realized or transferred to beneficiaries. Farm Inspectors. —During the year the Farm Inspector has paid several visits to the district, and his advice on matters appertaining to farming operations is greatly valued. Office Advertising.—The advertising of the functions of the Office has been a means of educating the public to some knowledge of the activities of the Department, and I am sure is responsible for a great amount of work which has been placed in the hands of the Public Trustee during the year.

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