WELLINGTON MONEY MARKET.
Per Press Association. WELLINGTON, Sept. 7. The Public Trustee reports a largo increase of business during the year, •and an increase in the rates of interest to beneficiaries to 4^ per cent, on sums under £'3000, and from 3£ per cent, to 4as sums increase, and a profit of £1199. The Land Assurance Fund decreased during the year 'by £9366, and it will disappear in four years, after which the Consolidated iFund will have to pay claims, under section 186 of the Land Transfer Act-. This diminution is caused by the business of the 'Local Bodies Loans Act, the payments to sinking fund annually increasing, while the additions to the fund by contributing fail to balance the claims against the insurance fund, which the Public Trustee thinks ■will increase. In 1900 the amount was £72,252, now it is £27,866. The invested capital funds of the office amount to £1,851,000.
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Bibliographic details
Wanganui Chronicle, Volume L, Issue 121128, 8 September 1906, Page 5
Word Count
152WELLINGTON MONEY MARKET. Wanganui Chronicle, Volume L, Issue 121128, 8 September 1906, Page 5
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