8.—9

57

The Renwick Cottages.—These cottages have been under the control of the Public Trustee for nearly fifty years. They were erected in Nelson in 1883 for the use of deserving poor people of that city, in accordance with the instructions contained in the will of Miss Adeline Renwick. The cottages, situated in a pleasant locality, are built of brick, and stand in plots large enough to enable the occupants to have gardens if they so desire. There are sufficient funds at credit of the trust to provide for the maintenance of the cottages and to enable a small allowance to be made to inmates. British Mercantile Marine Pension Fund. —These pensions are collected for such of the boys brought to New Zealand under the Flock House scheme as are entitled by reason of the death or disablement of their fathers or guardians while serving at sea during the war. The pensions arise out of service with the Royal Navy, the Admiralty, mercantile marine, fishing service, and the Canadian Government. The moneys received are held in trust for the lads until they attain the age of twenty-one, but the Public Trustee has power to utilize the funds in assisting them should they desire to commence farming on their own account at an earlier age. On the 30th September, 1929, the sum of £5,164 7s. 7d. was held in various proportions for 160 boys. Interest on the amount is credited by the Public Trustee at the maximum rate allowed by the Office regulations. Although the collection of the pensions entails a considerable amount of work and correspondence, the scheme for providing for dependants of members of the Royal Navy and mercantile marine who lost their lives in the service of the Empire during the Great War is such a meritorious one that the Office makes no charge for its services. New Zealand Sheepowners' Acknowledgment of Debt to the British Seamen Fund. — In 1920 it was arranged that the Public Trustee should hold and invest the moneys contributed towards the fund. The objects of the fund render it necessary that it should be kept liquid in form, so as to provide for disbursement in accordance with the objects. Accordingly it was invested in the Common Fund, and interest is allowed by the Public Trustee on the daily balance. According to the articles of association of the fund, provision is made in the War Funds Act, 1915, for incorporation, and the appointment of a Board of Trustees and advisory committees. The making of grants and allowances for the relief of disabled sailors of the Royal Navy and mercantile marine and for the dependants of sailors who died as the result of war injuries is determined by the Board of Trustees. After crediting' interest to the fund and deducting allowances made, at the 31st March, 1930, there remained in the Public Trustee's hands the sum of £38,986 19s. 3d. The amount paid out during the period 31st March, 1929, to 31st March, 1930, was £6,700. Education Reserves. 126. The Education Reserves Amendment Act, 1910, appointed the Public Trustee trustee of all funds which at that time were vested in School Commissioners, and of all mortgages and other investments administered by them. The net annual income derived from the assets administered under the provisions of this Act is paid by the Public Trustee to the Education Department, which attends to the allocation of the money in accordance with the statutory provisions. The assets under administration as at the 31st March, 1930, were as follows : — Primary Schools. Secondary Schools. Cash held in the Common £ s. d. £ s. d. Fund .. .. 20,257 15 1 796 4 2 Investments . . . . 1,600 0 0 Nil. £21,857 15 1 £769 4 2 Documents in Estates. 127. An executor or trustee should see that any documents relating to the estate or trust are preserved. The Office has had installed in all its Branches suitable fireproof strong-rooms providing for the convenient and safe custody of the countless valuable documents held by the Public Trustee on behalf of estates and clients.