PUBLIC TRUST OFFICE

Dominion, Volume 11, Issue 179, 18 April 1918, Page 4

PUBLIC TRUST OFFICE

A RECORD YEAR. The Public Trustee has furnished s, report to tho Right Hon. Sir Joseph Ward, Minister of Finance, which shows that the operations of the Public Trust. Office for the year ended March 31 last constitute a record in every respect. Although the figures are not final, it can bo stated that tho net profit on the year's working amounts to a sum in excess of .£70,000. This result is the more gratifying in view of the fact that heavy expenditure of an exceptional character has had to be incurred by the office, and that a large amount of nnremunerative work has been undertaken, especially in connection with soldiers' estates and agencies. But for these factors the balance would have been much larger,. The office has, however, felt justified in making special concessions to soldiers. No fewer than 2500 estates of deceased soldiers are now under administration, and in these ' estates the commission charged is fixed at the exceptionally low rate of 1 per cent, on the net realised assets. In addition to this the office, acts as attorney for 600 soldiers who arc* absent from New Zealand, and the fee> charged for this service is a purely ■nominal one. During the year _ muchneeded alterations have tycn carried rut in the head office building, which will materially assist in the efficient conduct of the Department's business. Many informs in office administration and practice have already neen inaugurated, and others are in course of introduction or in contemplation. Although, the full effect of these changes is not yet apparent, they will undoubtedly conduce to tho more successful and-efficient working of the Department in future.