PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1902.

Appendix to the Journals of the House of Representatives, 1902 Session I, B-09

8.—9.

1902. NKW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1902.

.Laid before the General Assembly in pursuance of Section 36 of " The Public Trust Office Consolidation Act, 1894."

The Conteolleb and Auditoe-General to the Hon. the Colonial Teeasueee. Sib,— Audit Office, 14th June, 1902. I have the honour, in accordance with the provisions of section 36 of " The Public Trust Office Consolidation Act, 1894," to transmit to you the attached balance-sheet of the Public Trust Office for the year which ended on the 31st March last, and to report that I have examined this balance-sheet and found it to be correct, subject to the following remarks: — According to section 29 of " The Public Trust Office Consolidation Act, 1894," the moneys to the amount of £600,000 arising under section 8 of " The Bank of New Zealand and Banking Act, 1895," became, as soon as they were received by the Public Trustee, part of the common fund, any investments made from which cannot lawfully be made on account of or belong to any particular estate, and entitled the respective estate to be credited quarterly with interest payable at the rate determined by the Governor in Council. Such common-fund rate of interest has not, however, been paid; the investment of the moneys in Government securities of New Zealand has been transferred from General (common fund) Investments Account to Special Investments Account, and the amount received as interest on the investment —£8,750, to 23rd April, 1901—has, less £4 18s. 2d. expended in telegraphing, been repaid to the Treasury. I have, &c, J. K. Wabbubton, The Hon. the Colonial Treasurer, Wellington. Controller and Auditor-General.

The Public Trustee, on looking into the matter of the £500,000, came to the conclusion that it was not a common-fund investment. The Solicitor-General has confirmed this view, and it therefore became necessary to make a correction in the present balance-sheet by now showing it as a special investment. J. G. Waeu.

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63 a c 3 . fl CD 51 CD O 63 0 EH ,6 I * p l"l o . w i-= Eh-

BALANCE-SHEET of the Public Trust Office for the Year ended 31st March, 1902.

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.ances ou -pri] 'ransaotions :arc] ances on arc! Name of Account. Dr. Or. Dr. Or. Dr. Or. Wills ana trust properties plaoea in the office Intestates' estates Lunatics' estates ... .. Convicts' estates Eeal estates .. .. .. .. " Unclaimea Lanas Act, 1894 " West Coast Settlement Eeserves Native reserves Aucklana Hospital reserves " Civil Service Reform Act, 1886 " .. " Post ana Telegraph Classification ana Regulation Act, 1890 " " Shipping ana Seamen's Act, 1877 " " Inaustrial Schools Act, 1882 " " Little Barrier Islana Purchase Act, 1894 " .. " Bankruptcy Act, 1892 " " Defence Act, 1886 " .. Trustees' Relief Act " Public Works Act, 1882," sections 64 ana 65 .. " Public Works Act, 1894," section 77 " Rating Act, 1894 " .. " Foreign Insurance Companies' Deposits Act, 1894 " " Government Aavances to Settlers Act, 1894," Debenture Sinking Funa Account " Government Aavances to Settlers Act, 1894," Assurance ana Reserve Funa .. " Native Lana Act Amendment Act, 1878 (No. 2)," section 13 " Native Land Laws Amenament Act, 1883," section 14 .. " Native Lana Laws Amenament Act, 1895," section 71 .. " Native Land Court Act, 1894," section 68 .. " Native Equitable Owners Act, 1886 " " Maori Real Estate Management Act, 1888 " .. Land Assurance Funa Coal-miners' Relief Funa Railway Servants' Funa Police Proviaent Funa Permanent Militia Rewara Fund New Lease Deposit Account Agents' Deficiency Account Mortgage Realisation Account Suspense Account Imprest Account Interest Account Accrued Interest Account General Investment Account Special Investment Account Special Loan Account Assurance ana Reserve Funa Account Cash Profit ana Loss Account .. .. ., .. ., " Bank of New Zealana and Banking Act, 1895," Preferred Shares Account .. " Aid to Public Works ana Lana Settlement Act, 1899 " .. Pairy Industry Advances Account .. .. ., £ s. a. £ s. a. 758,323 1 9 67,209 8 6 41,452 16 4 251 17 8 5,182 4 2 5,300 9 5 31,737 4 6 21,829 6 9 122 10 6 27,305 6 10 3,397 13 6 196 10 1 307 5 9 551 12 2 2,231 17 10 £ s. a. 124,567 5 10 64,823 14 4 20,845 6 9 119 17 11 9 4 9 679 9 11 25,925 12 2 9,790 14 3 1,972 11 5 2,384 13 5 44 14 5 103 6 8 £ s. a. 173,867 19 2 64,293 2 11 21,030 9 5 502 4 7 17 1 6 2,510 8 9 24,660 9 0 10,651 2 3 2,658 1 6 5,061 9 4 1,818 1 9 71 8 5 £ s. a. £ s. a. 807,623 15 1 66,678 17 1 41,637 19 0 634 4 4 5,190 0 11 7,131 8 3 30,472 1 4 22,689 14 9 808 0 7 29,982 2 9 5,171 0 10 164 11 10 307 5 9 551 12 2 1,900 2 3 118 12 11 74 8 8 118 16 3 1,095 18 8 612 9 10 0 10 118 12 11 24 0 6 280 14 3 0 10 132 1 11 10,008 6 8 175,083 4 5 23,744 9 11 106 0 0 12 17 1 269 12 6 296 17 8 50 8 2 118 16 3 974 12 1 253 8 6 10,008 6 8 149,968 13 5 95,954 7 5 43,872 9 6 1,553 8 3 1,146 0 7 557 4 1 176 2 3 5 18 3 11,842 14 8 59,601 16 5 2,526 19 0 3,362 12 1 14,578 11 3 1,358 0 3 11 15 10 70,839 16 5 20,127 19 7 1,468 18 1 1,182 4 10 824 1 11 266 15 7 5 18 3 12,697 0 7 64,518 7 11 2,398 7 10 3,139 10 6 9,185 12 4 1,386 11 3 12 18 7 21 9 10 49 1 4 536 10 4 387 11 0 4,066 6 4 8,504 19 3 584 5 10 7 15 5 1,472 13 0 86 2 0 23 6 11 3,212 0 5 3,588 7 9 . 712 17 0 230 17 0 6,865 11 11 57 11 0 22 4 2 198 12 9 178 17 8 10,268 12 11 50 0 0 54,991 8 3 6,907 14 3 592,293 1 11 47,260 0 0 3,191 7 0 1,682 11 8 640,481 13 3 25,616 4 11 208 6 2 178 17 8 10,344 6 11 50 0 0 54,991 8 3 11,355 0 1 234,759 15 0 509,865 0 0 3,190 6 8 11 16 2 646,057 15 4 16,332 12 4 9 13 5 1,056 1 1 475 0 0 980 7 1 475 0 0 6,907 14 3 1,407,418 19 4 210,960 4 2 11,355 0 1 1,049,885 12 5 673,565 4 2 1,067 10 10 5,570 2 4 1,068 11 2 7,240 17 10 53,924 16 4 59,500 18 5 17,344 18 3 500,000 0 0 26,628 10 10 500,000 0 0 4 18 2 8,745 1 10 2 7 4 8,750 0 0 240 15 8 238 8 4 1,679,899 18 5 1,679,899 18 5 1,923,876 13 6 1,923,876 13 6 1,794,791 8 6 1,794,791 8 6

b.— a,

Public Trust Office Profit and Loss Account. Summary of Revenue and Expenditure for the Year ended 31st March, 1902. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Expenses of Management :— By Balance on Ist April, 1901 .. .. .. .. .. 17,344 18 3 Salaries,— Commissions and charges .. .. .. .. 11,210 3 3 Head Office .. .. .. .. .. 5,974 19 4 Interest, being surplus from investments .. .. .. 13,678 9 2 Branch offices and agencies .. .. .. .. 2,798 16 1 Rents from securities taken over .. .. .. 178 5 8 Clerical assistance .. .. .. .. .. 36 3 8 Valuation fees .. .. .. .. .. 379 15 6 Agents'commission .. .. .. .. 1,631 0 3 Befund cost of advertising West Coast Settlement Reserves .. 43 5 0 Cost of audit .. .. .. .. .. 240 0 0 Sundries ....... .. 126 6 4 Services of Agent-General's Office .. .. .. 100 0 0 25,616 411 Services of General Post Office .. .. .. .. 500 0 0 General Post Office, postages .. .. .. .. 250 0 0 Rent,— Head Office .. .. .. .. .. 475 0 0 Branch offices and agencies .. .. .. .. 327 9 2 Travelling-expenses .. .. .. *.. .. 580 18 3 Legal expenses .. .. .. .. .. 211 13 6 Printing, stationery, and office requisites .. .. .. 550 11 1 Cleaning and lighting .. .. .. .. 168 12 7 Furnishing .. .. .. .. .. 33 0 3 Advertising .. .. .. .. 152 10 10 Refunds', commission, and charges .. .. .. 116 4 3 Expenses, Members Native Reserves Board .. .. 14 16 1 Stamps, telegrams, and petties .. .. .. 33 12 3 Premiums on fidelity polices .. .. .. .. 18 10 0 Expenses on site for new offices .. .. .. 29 14 8 Exchange on remittances by wire .. .. .. 35 6 3 Sundries .. .. .. .. .. .. 71 2 3 Transfer to Assurance and Reserve Fund .. .. .. 1,422 17 4 Stamping and registering leases .. .. .. 130 15 5 Valuation fees .. .. .. .. .. 359 0 0 Unauthorised,— Estate of J. Davern, allowance .. .. 23 4 0 Estate of L. Emmerson, claim .. .. .. 0 16 3 Amount erroneously paid to Native .. .. .. 45 18 7 Balance .. .. .. .. .. .. 26,628 10 10 . £42,961 3 2 £42,961 3 2

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"The Civil Service Refoem Act, 1886." £> E _ Statement of Account for the Year ended 31st March, 1902. Cb. £ s. d. £ s. d. £ s. d. £ a. d. To Amounts paid on retirement from the Service .. .. 2,371 13 8 By Balance on Ist April, 1901 .. .. >, *. 27,305 6 10 Amounts paid in error refunded .. .. •• \l9 4 Deductions from salaries •• •• •• •• 4,02118 2 Amounts refunded to Public Account .. .. ■• 50 5 Refund amounts paid on retirement .. .. .. o6 1 2,384 Id 5 Refund amount overpaid .. .. .. .. 0/ » Balance ■• •■ 29,982 2 9 Amount lodged on account of J". A. Wilson's compensation .. 20 0 0 Interest added to account .. .. .. .. 1,013 18 4 5,061 9 4 £32,366~16~~2 £32,366 16 2 X) E- Consolidated Fund Account for the Year ended 31st March, 1902 Ce. £ s. d. £ 3. d. £ s. d. £ s. d. To Amount paid to Public Account in terms of section 76 of " The By Balances in the undermentioned accounts, unclaimed or six Public Revenues Act, 1891".. ... •• •• 4,247 13 9 years:— ,„.„. _ Intestate estates .. .. ■• ■• .. 2,5d2 14 7 Wills and trusts .. .. .. • ■ • • 864 18 6 " The Shipping and Seamen's Act, 1877 ".. .. 27 16 8 " The Rating Act, 1882" .. .. .. .. 144 11 6 " The Public Works Act, 1882," sections 64 and 6-5 .. 24 0 6 The Trustees' Relief Act • .. .. ■. .. 66 14 9 " The Bankruptcy Act, 1883" .. .. .. 566 17 3 £4,247 13 9 £4,247 13 9 j) B Inteeest Account for the Year ended 31st March, 1902. Cb. £ s. d. £ s. d. £ s. d. £ s. d. To Accrued and overdue interest at 31st March, 1901, transferred .. 6,907 14 3By Interest on mortgages .. .. .. :. 38,356 911 Interest transferred to estates .. .. .. .. 34,274 6 2 Interest on Government securities .. .. .. 3,689 10 4 Amounts refunded .. • • • • • ■ 130 18 8 Interest on local bodies' debentures .. .. .. 747 18 fa Balance transferred to Profit and Loss Account .. .. 13,678 9 2 Interest on fixed deposits at banks .. .. .. 27 5 8 Interest on current account in bank .. .. .. 314 13 9 Sundry receipts .. .. .. .. .. 500 10 0 Accrued and overdue interest at 31st March, 1902 .. .. 11,355 0 1 £54,991 8 3 £54,991 8 3

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Securities held by the Public Trust Office on the 31st March, 1902.

J. W. Potnton, Public Trustee. Thos. S. Ronaldson, for Accountant. Examined and found correct. —J. K. Warburton, Controller and Auditor-General.

Approximate Oost of Paper. —Preparation, not given; printing (1,900 copies), £Q Bs.

Authority: John Mackay, Government Printer, Wellington.—l9o2,

Price 6_.]

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loinina] uo. !o« 'rice "Aid to Public Works and Laud Settlement Act, 1899," five debentures, Nos. 1 to 5 .. ■" Lands Improvement and Native Lands Acquisition Act, 1894," forty debentures, Nos. 270 to 284, 399 to 408, and 439 to 453.. "New Zealand Consols Act, 1894," Consols, inscriptions Nos. 41, 49, 82, 120, 139, 155, 192, 204, and 206 "Land for Settlements Act, 1894," and "Land for Settlements Act Amendment Act, 1897," one debenture, No. 290 41 General Purposes Loan Act, 1873," four debentures, Nos. 32 to 35, and certificate No. 74 " Immigration and Public Works Loan Act, 1870," eight debentures, Nos. 4 to 11 and Nos. 1921 to 1925 *' Waimakariri-Ashley Water-supply Board Loan Act, 1894," three debentures, Nos. 1 to 3 Waimakariri-Ashley Water-supply Board, Brown's Rock Subdivision, three debentures, Nos. 1 to 3 Borough of Onslow, five debentures, Nos. 1 to 5 Borough of Onslow, two debentures, Nos. 1 and 2 .. Borough of South Invercargill, fifty debentures, Nos. 1 to 50 .. City of Chriscehureh, Riohmond Ward, forty-one debentures, Nos. 1 to 41 City of Chrigtchurch, loan of £35,000, seventeen debentures, Nos. 312 to 328 Borough of Sydenham, Loan No. 3, seventeen debentures, Nos. Iβ to 17b Borough of North Invercargill, special loan of £5,700, forty-seven debentures, Nos. 1 to 47 .. " Dunedin Waterworks Act, 1874," seven debentures, Nos. 1032, 1033, 1044, 1074, 1075, 1137, and 1143 Mortgages— General Investment Aocount .. .. .. .. £958,888 12 5 Special Investment Account .. .. .. .. 158,110 4 2 £ s. d. £ s. d. 500,000 0 "0 500,000 0 0 40,000 0 0 40,000 0 0 26,135 0 0 26,115 0 0 10,000 0 0 10,000 0 0 1,200 0 0 1,036 0 0 1,300 0 0 1,172 0 0 3,000 0 0 3,000 0 0 3,000 0 0 5,000 0 0 2,600 0 0 5,000 0 0 1,640 0 0 850 0 0 1,700 0 0 3,000 0 0 5,000 0 0 2,600 0 0 5,000 0 0 1,640 0 0 850 0 0 1,700 0 0 4,700 0 0 4,700 0 0 600 0 0 639 0 0 1,116,998 16 7 1,116,998 16 7 Total £1,723,703 16 7 £1,723,450 16 7 Total General Investment Account .. .. .. £1,04! Total Special Investment Account .. .. .. 67i ,885 12 5 ,565 4 2 £1,72: ,450 16 7