PUBLIC TRUST OFFICE.

Gisborne Times, Volume XLIX, Issue 4846, 18 April 1918, Page 5

PUBLIC TRUST OFFICE.

A RECORD YEAR

Press Association Telegram- -- -WELLINGTON, April 17. The Public Trustee has furnished a report to the Minister showing the operations of the ruolic Trust Office for the year ended March 31, which constitutes a record in every respect. Although the figures are not final, it can be stated that the net profit on the year s workings amounts,, to in , excess or £70,000. This result is more gratn tying in view of ill© fact tliat heavy expenditure of an exceptional character had to he incurred by the office and that a large amount of unremunerative work had to be 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-justi-fied in making a special concession to soldiers. Two thousand .five hundred estates of deceased soldiers are now under administration, and in these estates the commission charged is fixed at the exceptionally low rate or 1 per cent, on the net realised assets In addition to this, the office acts as attorney for 600 soldiers absent from New Zealand, ancl the fee charged for this service is a purely nominal one. During the year, much-needed alterations have ’been carried out in the head office building, which will materially assist in the efficient, conduct of the Department’s business. Many reforms in office administration and practice have already been 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 the more, successful and efficient working of the Department in the future.