PUBLIC TRUST OFFICE

Otago Daily Times, Issue 17292, 18 April 1918, Page 4

PUBLIC TRUST OFFICE

A RECORD TEAR. (Pee United Ppfss Association.) WELLINGTON,-April 17. The Public Trustee has furnished a report to the Minister, of Finance, showing that the operations of the Public Trust Office for the year ended 31st March constitute a record in ©very respect. Although tho figures are not final, it can be stated that tho net profit on tho year's workings amounts to _ a sum in excess of £70,000. This result is the more gratifying in view of the fact that a heavy expenditure of an exceptional character had to bo incurred by tho office, and that a largo amount of unremuuerative work has been undertaken, especially in connection with soldiers' estates and agencies. But for theso factors tho balanco would have been much larger. The office has, however, felt iustified in making special concessions to soldiers. About 2500 estates of deceased soldiers are now under administration, and in these estates tho commission charged is fixed at the exceptionally low rate of 1 per cent, on the net realised assets. In addition to this tho office acts as attorney for 600 soldiers absent from New Zftaland, and the fee charged for this servico is a purely nominal one. During tho year many reforms in office administration and practico have been already inaugurated, and others are in course of introduction or in contemplation Although tho full effect of these changes is not yet apparent, they will undoubtedly conduce to tho more successful and efficient working of the department in the future.