PUBLIC TRUST OFFICE.

Auckland Star, Volume XLI, Issue 39, 15 February 1910, Page 6

PUBLIC TRUST OFFICE.

LARGE REnJUCTTON IN CHARGES, (Bi Telegraph.—Press Association.) WELLINGTON, Mondty. Mr. J. W. Poynton, formerly Public Trustee, who recently became Secretary to the Treasury and Superintendent of the State Guaranteed Advances Board, was presented to-day by his old staff with a massive silver salver. The presentation was made by Sir Joseph Ward; Prime Minister. Sir .lospph Ward said the Public Trust Office was entirely free from political control, and the way in which the Department has moved ahead by leaps and bounds was _he greatest tribute to the confidence of the public in its administration. It was also a striking example of tho progress of the Dominion. In a very short time the business had trebled, and when one realised that the estates now under administration nun-bernd 5,000, and ran into the large sum of £7,000,000, it spoke eloquently of the large and varied nature of the work. He was pleased to be able to announce that from April 1 next a very large reduction would bo made in the charges for dealing with business. The commission to be charged would be 2J per cent on the first £10,000, and 1} per cent on sums beyond that, instead of 5 per cent on the first £1,000, 3 per cent on the next £3,000, 2 per cent on the next £6,000, and li per cent on sums over £10,000. Such low charges meant fresh business for the office, and it would not be too much to anticipate that probably 1,000 more wills per annum would come in to the Department.