Page 21 Advertisements Column 1

Press, Volume CVI, Issue 31158, 7 September 1966, Page 21

THE Trust Department THE NEW ZEALAND INSURANCE COMPANY LIMITED. 1916 - 1966 - FIFTY YEARS OF TRUSTEE SERVICE Extracts from the 107th Annual Report to Shareholders of THE NEW ZEALAND INSURANCE COMPANY LIMITED. An Eminent Jurist has said: nso j Est>ta Duti« Whangarei 1960 i T<rtal during ywr, £590,000. "The Trustee of my property, my ; Executor or guardian of my child | The Company is the only Trus- i ° Mnfm i ioq 7 must always be well and at home; . trw Company with offices in all Number under control, 1937. must never run away and must ' principal centres between the far Total amount of mortgages, never steal; must have life ever* north and far south and the Depart- £8,263,000. lasting; must be rich and stay merit can fairly claim to cover New rich; with all his property pledged Zealand. Trust Managers make Number of advances made during to the proper performance of his J regular visits to the various towns year, 444. trust; must be subject to no per- ; in their districts when they call nf u lirin _ xonxl or political influtnco; melt upon bonofkiories and prospectin * “ ‘ d * dunng mako no mistake,: must never for- ; clients. All Branches have their I >ear ’ “.ZZJ.UUU. get; must do what he is told to ' offices In the Company’, building, do first, last and all time; must 1 m the various centres and this | . .■ keep a complete record of what he ; maintain, close liaison with Insur- I L63oing IfUStee Company doe,; murt make only reasonable I ance branch,, throughout Naw charges; end murt have the loam- . Zealand. I Th, statistics clearly indicate that Ing and the uparltnca, th, di,- the Department ha, established iteration of not only one man, but | self as a leader in its own field. S " are Re « ,Str y •" Institutions which have businass mm in the uomummty. | fawn |n busjnm fof |ength of Only a Corporate Trustaa In 1954 arrangements were con- time and which have come not can possess the above quali- dotted for the Trust Department to only unscathed but strengthened fications. act as Share Registrar for the through adverse and prosperous conTasman Pulp and Paper Co. Ltd. ditions either of which paraFurther business in this field was doxically enough can wreck both History of Trust Deoartment gradually obtained and the Depart- individuals and companies the uuwiy in hum ucpaiuiicm 32 Regjjtßr3 jn . Tnjst h „ to not On 22nd D«omb.r, 1910, th. ' ,uding ” °“ r Con ” ~nl' ".'ho Board of Director, of The Nwr J l . ur '" 8 g }’“ .’A’ JX* Zealand Insurance Company Limited |i nf l Ar P nn^rn l mJfh« TLnar+m«hnnld decided to seek authority for the ' ASSCtS Under Control Company to act » e.eiutor and | °" fi ™ ’ nd * trong trustee or in any other fiduciary In 1916 the value of trust assets capacity. controlled was only £184,753. From The Trust Department as it is Th- hw 1935 o«*>rds the growth has been today is the sum of all the into. wit I rPtMrtbbto. *« «t 31st May, 1966. right, all th, hard work, all th, to. t* l * * ,lui *** BSS *ts under con- forethought of every Director of of 2 frol wa, £66,778,897, which on- the Company, every mrecutive and to. k. to. ««•» «» Department to claim to every officer down to the present nn ?7to’toi. ?OH Th. I ba ana of th. leaden in the trus- time. In this lies the strength of SSr” as* rsr-iss*: trustee and agency field. . tradition recognised by its officer, The first estate administered by I .Jho blowing graph Illustrates and th , pub | ic ,|| k ,. the Company and by the standard t " at i rowth - I of the time a considerable one, was that of an Officer of the Now Zea- , land Army who died In Egypt in i £ MILLION 1915. I As business increased It became HB—imperative to separate the Com- ■■■6 o pany’s trustee activities from its “ rrnMrt . t. *„-« .mto underwriting business and on 7th GfoWtil m undef Contr ° l December, 1915, Mr C. F. Thomas 1916 1866 was appointed by tho Board of Dir- » ectors to control the trust business of the Company with the title of “Trustee.” In April, 1916, a separate bank account for the Trust w Department was opened at the Bank of New Zealand and this y>? IB 830 account is still current. It was then discovered that with- - out the authority of a special em- ' ; jjjM|BßBBI|BIB2O Act Parliament difficulties t'ose The Com- '* pany took steps to promote the to> v’ ♦HHHHBIO legislation and on Bth *- v^B^B^B^B^B^B^B — July. 1916. the Governor General <o .* “’.’i , / . ||| ISI Illi BHi 111 asserted to "New Zealand In surance Company Trust Act 1916.” I »>.?%■ "*» 0 I im im ’»»• i«ss '»*« ”*s irso its* t»*# ivci ims iew wee ires wee Although the Company has been transacting trustee business since 1912, it is logical to regard Bth The statistical data set out below With an organisation so well July, 1966, as tho Fiftieth Anni- Illustrates the extent of the De- established there is, too, the knowversary of tho Trust Department of partments operations. Tho figures ledge, subconscious perhaps, but the Company, this being fifty years are for tho year ended or as at recognised by all connected with after the date upon which its 31st May, 1966; Total value of it that tho common-places of today, Charter was granted. Stock Exchange transactions, the triumphs and reversals of every£2,427,000. day business, will be history toProperties morrow. Dominion-wide Coverage Number of properties controlled, i When the Trust Department cele--769. brates its hundredth anniversary tho The Trust Department established ' Total estimated value of such pro- happenings of 1966 will, no doubt, Its first office on a small portion perties, £8,600,000. bo regarded with as much interest of the first floor of the Company’s Nlimh>r 4i.rin« in ! and curiosity as those of 1916 “ra”? ’ild. ™ gard « d - - d !, ,>^ d _ T'ojJ to“ c S ”1 £765,600 The Trust Department enters its needed until by 1945 the Deirert- second half century confident that ment eccumed the entire hrst Number of tenants paying rent, the second era will show a growth floor. With expansion it < to i n 0 ,ess successful, an increasing toT .Era n >,,r ' ™>»rtan« in th. financial lito the third and fourth floors. From £498.000. o l the coun fjy r an( j an jrf ea f o f ’ »' ncept 7 n Y 1 * r’E rtnW ? fc Pastoral Activities service to the community even more .ns< S ?2 Number of farms controlled, 219. i firmly impressed upon tho general B n“^”«rtd' n i T -' 222 ’°°o- : resulted in the Company being ap- Number of sheep shorn, 248,000. pointed In estates in all parts of , 7 c nn New Zealand. Inevitably to provide Numb " d,lr » 750 °- a bettor service to clients. Branches Number of other cattle, 30,000. - s were established in the main centres ! Number of bales of wool sold, of New Zealand as follows: 5750. Wellington 1929 L,rnhs b,,d ’ Christchurch „ 1935 P "" d 2 ’ 3 o7%) bU ‘ ,, '' , ’ t Pr ° dUC * d ' W?'! Dunedin _ 1947 | Toh) <a|ue <lrms contro || ed | Pe'merston North „ 1947 £3,671,000. Napier 1948 Total value of stock on those Invercargill _ 1950 f, ™“’ £1.516,000- JV-7-7' u—Uto. law Income Tai , —k Hamilton __ —195 Z ~ frtun , s fj|ed 3512 . nCMOTUCUT Rotorua 1959 I Total tax paid. £295,000. IKUbI DEPARTMENT zloSard Z NEW ZEALAND LIMITED Aw Subsidiary of Lombard Banking Limited, London II PAID UP CAPITAL £750.000 // ISSUE OF UNSECURED DEPOSIT NOTES fl AT ATTRACTIVE RATES OF INTEREST "7% II JBfPA.FOR6YEARS ]7% FOR 6 YEARS (find term) 11 6j% FOR 5 YEARS (fixed term) | 181% FOR 4 YEARS (fixed term) 116j% FOR S YEARS (fixed term) - ] BIV 18% FOR 2 YEARS (fixed term) 115j% FOR I YEAR (fixed term)] I 5% FOR SIX MONTHS NOTICE OF CALL | Interest payable half-yearly. Effective from date of deposit Applications can be accepted only on the form enclosed with, and referred to in, the prospectus which is available from: ANY MEMBER OF ANY STOCK EXCHANGE ANY LOMBARD BRANCH Auckland • Hamilton • Masterton • Wellington Christchurch • Dunedin • Invercargill Or mail coupon for Prospectus If I | I LOMBARD NEW ZEALAND LIMITED. AMP Building, Customhouse Quay (Phone 71-646) I fl P.O. Box 3444, Wellington. If Please send me a copy of your Prospectus Name I > ■■■.—. L p 1';" | I This advertisement does not purport to be a Prospectus