THE PUBLIC TRUST.

Bush Advocate, Volume XXI, Issue 289, 10 June 1909, Page 5

THE PUBLIC TRUST.

NEW OFFICES IN WELLINGTON. [PBBSa ASSOCIATION.) WELLINGTON, yesterday. The now Public Trust Offices erected at a. cost of £42,000 were formally opened to-day by the Prime Minister, in the presence of a representative gathering. The proceedings took the form of ai luncheon, the Public Trustee, Mr Poynton, being in thechair. Sir Joseph Ward proposed the toast "Prosperity to the Public Trust Office." Ho said estates to the value of nearly £6,000,000 were under the office's administration.. He paid a tribute to the late Sir Julius Yogel, who had originated the office. Sketching tho career of the Department, he said that in its second year the office became self-supporting, and now had an annual excess of about £10,---000 in spite of large concessions being made in recent years. A fourth of tho profits went to tho reseve fund, but the Government had never- oxer-, cised its privilege of taking threefourths of the profits into the consolidated fund. All it had taken was about £38,000, and the cost of the new offices would be paid out of profits. In conclusion he suggested the possibility of a future reduction in charges to those who did business with tho department. Lady Ward unveiled photographs of the founders of the institution, the late Sir Julius Yogel and Hon. E. C. J. Stevens.