PUBLIC TRUST OFFIGE.

Gisborne Times, Volume XXVIII, Issue 2736, 15 February 1910, Page 5

PUBLIC TRUST OFFIGE.

FORTHCOMING REDUCTION IN CHARGES.

[Per Press Association.]

WELLINGTON, Feb. 14

Mr. J. W. Poyntcn, formerly Public Trustee, who recently became Secretary to the Treasury and Superintendent of the State Guaranteed Advances Board, was presented to-day by his old staff with a massive silver salver. The presentation was made by Sir Joseph Ward. Sir Joseph said that the Public Trust Office was entirely fiee from political control, and the way in which the department had moved ahead by leaps and bounds was the greatest tribute to the confidence of the public in its administration. It was also a striking example of the progress of the Dominion. In a very short time the business had trebled, and when one realised that the estates now under administration numbered -5000, and ran into the largo sum of £7.000.000, it spoke eloquently of the large and varied nature of the work. Probably no commercial or trading concern had been so economically managed, and, notwithstanding this, he was pleased to be able to announce that from April Ist next a very large reduction would be made in the charges for dealing with business. The commission to be charged woud be 24 per cent, on the first £IO,OOO, and 14 per cent, on sums bevond that, instead of b per cent, on the first £IOOO. J percent. on the next £3OOO. 2 per cent, on the next £6OOO. and 14 per cent, on sums over £IO,OOO. Such low charges meant fresh business for the office, and it would not be too much to anticipate that ‘ probably a thousand more wills per annum would come into the department. The fine new office for the department had come none too soon, and at the present rate of growth, he could see that before long the tenants who filled tile rooms unoccupied by the Public Trust Department would have to go. He believed also that the time would soon come when the staff, which numbered 107. would have to be increased. It was very pleasing to realise the potentialities of the department, and his hearers should look forward to those future changes, which were bound to bring them promotion before long.