PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1903.

Appendix to the Journals of the House of Representatives, 1903 Session I, B-09

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1903. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1903.

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

The Controller and Auditor-General to the Hon. the Colonial Treasurer. Sir,— Audit Office, 18th June, 1903. 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 : — The investment of the moneys amounting to £500,000 paid to the Public Trustee under section 8 of " The Bank of New Zealand and Banking Act, 1895," continues still to be accounted for as a special investment, though such moneys arise under an instrument giving no direction as to investment, and are therefore, by the force of section 29 of " The Public Trust Office Consolidation Act, 1894," moneys of the common fund, any investments from which cannot lawfully be made on account of or belong to any particular estate; and the estate account has not been credited with the rate of interest determined by the Governor in Council as payable to the estates whose moneys form the common fund. I have, &c, J. K. Warburton, The Hon. the Colonial Treasurer, Wellington. Controller and Auditor-General.

The Public Trustee, on looking into the matter of this £500,000, came to the conclusion that it was not a common-fund investment. The Solicitor-General has confirmed this view. For this reason it appears in the balance-sheet as a special investment. (See Appendix to Journals of House of Bepresentatives, 1901, 8.-19 c, and Beport of the Public Accounts Committee, 1902, 1.-llF.) B . j. Seddon.

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BALANCE-SHEET of the Public Trust Office for the Year ended 31st March, 1903.

Balances on 1st April, 1902. Transactions to 31st March, 1903. Balances on 31st March, 1903. Name of Account. Dr. Cr. Dr. Cr. Dr. Cr. £ s. d. £ s. d. 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 50 8 2 118 16 3 974 12 1 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 £ s. d. 98,469 3 9 71,373 8 7 23,690 8 4 75 18 8 6 3 0 948 7 2 26,342 6 7 9,073 9 9 2,317 5 3 1,698 17 5 423 2 8 158 7 8 £ s. d. 166,894 12 11 80,086 11 5 23,522 8 3 145 17 9 264 2 5 1,569 7 5 28,063 17 10 10,337 17 0 2,518 19 1 5,096 5 1 2,294 13 10 190 4 9 79 7 6 £ s. d. £ s. d. 876,049 4 3 75,391 19 11 41,469 18 11 704 3 5 5,448 0 4 7,752 8 6 32,193 12 7 23,954 2 0 1,009 14 5 33,379 10 5 7,042 12 0 196 8 11 386 13 3 551 12 2 1,866 0 0 50 8 2 144 18 8 1,302 17 1 125,867 7 10 67,911 16 8 522 5 11 1,042 18 0 825 8 3 167 9 9 5 18 3 10,996 8 10 58,154 14 11 2,828 1 0 Wills and trust properties placed in the office .. .. intestates' estates uunatics' estates .. Convicts' estates Seal estates ' Unclaimed Lands Act, 1894 " West Coast Settlement Reserves Sative reserves Auckland Hospital reserves ' Civil Service Beform Act, 1886 " .. ' Post and Telegraph Classification and Regulation Act, 1890 " ' Shipping and Seamen's Act, 1877 " ' Industrial Schools Act, 1882 " ' Little Barrier Island Purchase Act, 1894 " .. ' Bankruptcy Act, 1892 " ' Public Works Act, 1882," sections 04 and 65 .. ' Public Works Act, 1894," section 77 ' Rating Act, 1894 " .. ' Advances to Settlers Act, 1894," Debenture Sinking Fund Account ' Advances to Settlers Act, 1894," Assurance and Reserve Fund Account ' Native Land Act Amendment Act, 1878 (No. 2)," section 13 ' Native Land Laws Amendment Act, 1883," section 14 .. ' Native Land Laws Amendment Act, 1895," section 71 .. ' Native Land Court Act, 1894," section 68 ' Native Equitable Owners Act, 1886 " ' Maori Real Estate Management Act, 1888 " .. Land Assurance Fund .. Zioal-miners' Relief Fund Railway Servants' Fund Police Provident Fund Permanent Militia Reward Fund .. Sew Lease Deposit Account Vgents' Deficiency Account Mortgage Realisation Account Suspense Account [mprest Account [nterest Account Accrued Interest Account 3-eneral Investment Account Special Investment Account Special Loan Account Assurance and Reserve Fund Account Dash Profit and Loss Account Dairy Industry Advances Account .. 1 Bank of New Zealand and Banking Act, 1895," Preferred Shares Account ' Maori Land Administration Act, 1900 " ' Native Land Laws Amendment Act, 1896," section 10 .. jovernment Railways Superannuation Fund .. Doal-mines Act 451 5 8 386 11 8 231,253 11 10 1,142 10 1 103 2 7 91 18 7 914 3 4 3,666 18 10 4,891 3 10 451 19 4 3,607 18 9 3,150 10 0 60 2 3 26 13 8 417 3 5 26 2 5 714 16 8 261,166 12 3 24,039 7 2 111 7 9 360 2 9 905 10 10 2,820 13 0 3,444 2 4 753 1 4 245 6 8 6,990 4 0 58 3 7 43 13 7 18,418 5 3 1,356 1 7 28 15 9 9 13 5 238 1 1 8,529 8 1 100 0 0 63,560 15 0 11,658 8 8 279,583 16 0 1,284 10 0 3,015 11 6 9 13 5 980 7 1 238 1 1 8,428 5 6 879 4 6 475 0 0 575 0 0 11,355 0 1 1,049,885 12 5 673,565 4 2 1,068 11 2 7,240 17 10 63,560 15 0 11,355 0 1 90,442 9 2 52,568 0 0 2,392 10 0 3,038 14 5 730,202 16 0 23,862 11 11 204 3 1 11,658 8 8 1,239,026 19 3 622,281 14 2 445 9 8 10,279 12 3 59,500 18 5 745,466 11 8 19,536 19 2 79 4 9 74,764 14 1 26,628 10 10 238 8 4 500,000 0 0 30,954 3 7 363 6 8 500,000 0 0 318 4 2 80 0 0 349 15 5 18 16 6 398 4 2 349 15 5 7,075 8 3 1,000 0 0 7,056 11 9 1,000 0 0 1,794,791 8 6 1,794,791 8 6 1,618,277 7 1 1,618,277 7 1 1,948,316 9 7 1,948,316 9

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Public Trust Office Pkopit and Loss Account. Summary of Revenue and Expenditure for the Year ended *31st March, 1903. Dk. £ s. d. £ s. d. Ck. £ s. d. £ s. d. To Expenses of Managemeut:— By Balance on Ist April, 1902 .. .. .. .. .. 26,628 10 10 Salaries,— Commissions and charges .. .. .. .. 10,133 18 3 Head Office .. ... .. ~ .. 6,251 5 1 Interest, being surplus from investments .. .. .. 12,777 11 5 Branch offices and agencies .. .. .. .. 2,891 18 6 Rents from securities taken over .. .. .. 237 9 1 Clerical assistance .. .. .. .. .. 26 19 6 Valuation fees .. .. .. .. .. 527 12 6 Agents' commission .. .. .. .. 1,777 15 5 Sundries ....... .. .. 116 110 Cost of audit .. .. .. .. .. 240 0 0 23,792 13 1 Services of Agent-General's Office .. .. .. 100 0 0 Services of General Post Office .. .. .. .. 500 0 0 Postages, General Post Office .. .. .. .. 2SO 0 0 Rent,— Head Office .. .. .. .. .. 475 0 0 Branch offices and agencies .. .. .. .. 341 J 8 Travelling-expenses .. .. .. .. .. 590 3 0 Legal expenses .. .. .. .. .. 208 14 0 Printing, stationery, and requisites .. .. .. 804 13 4 Cleaning and lighting .. .. .. .. 188 1 9 Furnishing .. .. .. .. .. 97 13 5 Chubb's safe-deposit.. .. .. .. .. 330 15 0 Advertising .. .. .. .. .. 439 4 6 Refunds, commission, and charges .. .. .. 66 15 2 Expenses, Members Native Reserves Board .... '27 4 1 Stamps, telegrams, and petties .. .. .. 56 18 7 Premiums on fidelity polices .. .. .. .. 21 10 0 Exchange on remittances by wire .. .. .. 22 8 0 Stamping and registering leases .. .. .. 38 6 6 Valuation fees .. .. .. .. .. 546 13 0 Compassionate allowance to Mrs. F. Townsend .. .. 300 0 0 Sundries .. .. .. .. .. .. 196 10 8 Transfer to Assurance and Reserve Fund .. .. .. 2,676 12 6 Balance .. .. .. .. .. .. 30,954 3 7 £50,421 3 11 £50,421 3 11

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" The Civil Sbevicb Befokm Act, 1886." Statement of Account for the Year ended 31st March, 1903. De. £ s. d. £ s. d. Cβ. £ s. d. £ s. d. To Amounts paid on retirement from the Service .. .. 1,684 02 By Balance on Ist April, 1902 .. .. .. .. .. 29,982 2 9 Amounts paid in error refunded .. .. .. 719 8 Deductions from salaries .. .. .. .. 3,927 12 6 Amounts refunded to Public Account .. .. .. 617 7 Refund amounts paid on retirement .. .. .. 70 3 1,698 17 5 Amount lodged on account of J. A. Wilson's compensation .. 20 0 0 Balance .. .. .. .. .. .. 33,379 10 5 Interest added to account .. .. .. 1,141 12 4 5,096 5 1 £35,078 7 10 £35,078 7 10 Interest Account for the Year ended 31st March, 1903. De. £ s. d. £ s. d. Ce. £ s. d. £ s. d. To Accrued and overdue interest at 31st March, 1902, transferred .. 11,355 0 1 By Interest on mortgages .. .. .. .. 47,783 16 5 Interest transferred to estates .. .. .. .. 39,401 2 6 Interest on Government securities .. .. .. 2,790 0 0 Amounts refunded .. .. .. .. .. 27 1 0 Interest on local bodies' debentures .. .. .. 478 12 4 Balance transferred to Profit and Loss Account .. .. 12,777 11 5 Interest on fixed deposits at banks .. .. .. 13 0 4 Interest on current account in bank .. .. .. 366 5 3 Sundry receipts .. .. .. .. .. 470 12 0 Accrued and overdue interest at 31st March, 1903 .. .. 11,658 8 8 -£63,560 15 0 . £63,560 15 0 Consolidated Fund Account for the Year ended 31st March, 1903. Da. £ s. d. £ s. d. Cβ. £ s. d. £ s. d. To Amount paid to Public Account in terms of section 76 of " The By Balances in the undermentioned accounts, unclaimed for six Public Revenues Act, 1891" .. .. .. 1,292 3 6 years:— Intestate estates .. .. .. .. .. 134 13 3 Wills and trusts .. .. .. .. .. 174 9 9 The Shipping and Seamen's Act .. .. .. 99 4 0 The Rating Acts .. .. .. .. .. 286 10 10 The Suspense Account .. .. .. .. 5 6 7 The Bankruptcy Acts .. .. .. .. 289 8 9 The Property Assessment Act .. .. .. 302 10 4 £1,292 3 6 £1,292 3 6

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Securities held by the Public Trust Office on the 31st March, 1903.

J. W. Poynton, Public Trustee. T. D. Kendall, Acting-Accountant. Approximate Cost of Paper.— Preparation, not given ; printing (2,375 copies), ±'6 14s.

By Authority : John Mackay, Government Printer, Wellington.—l9o3. Price 6d.]

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Nominal Value. Cost Price " Aid to Public Works and Land 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, 206, 222, and 231 "Land for Settlements Act, 1894," and "Land for Settlements Act Amendment j Act, 1897," one debenture, No. 290 " 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 Christchurch, Richmond Ward, forty-one debentures, Nos. 1 to 41 City of Chrietchurch, 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 Borough of Lower Hutt, special loan of £8,000, debentures Nos. 1 and 2, £1,000 each Borough of Lower Hutt, special loan of £1,000, debenture No. 1 Mortgages— General Investment Account .. .. .. .. £1,145,029 19 3 Speoial Investment Account .. .. .. .. 106,806 14 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 26,135 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 2,000 0 0 1,000 0 0 2,000 0 0 1,000 0 0 1,251,836 13 5 1,251,836 13 5 Total £1,861,561 13 5 £1,861,308 13 5 Total General Investment Account .. .. .. £1,23! Total Special Investment Account .. .. .. 62: ,026 19 3 ,281 14 2 £1,86: ,308 13 5