H.—l2.

1902. NEW ZEALAND.

PUBLIC TRUST OFFICE (REPORT RELATING TO THE).

Presented to both Houses of the General Assembly by Command of His Excellency.

The Public Tbustee to the Eight Hon. the Colonial Treasurer. Sir,— Public Trust Office, Wellington, 31st March, 1902. I have the honour to report that the past year was a record one in office business, the profits amounting to £8,706 9s. lidThere were no losses on investments. No complaints were made during the year concerning the office administration. As recommended in my last annual report, the office charges have been reduced and simplified. Many of the fees have been altogether abolished. The new scale of fees will come into force on the Ist July next. The alteration will diminish future profits ; but, as it is the aim of the institution to be no more than self-supporting, large surpluses should not be sought. As business increases there will be further reductions. I have, &c, J. W. POYNTON, The Right Hon. the Colonial Treasurer. Public Trustee.