8.--9

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4. DANNEVIRKE, The alteration in the status of this office to that of a District Public Trustee Office took place on the Ist February of this year. Prior to that date the branch was under the control of a District Manager working under the District Public Trustee, Palmerston North. This further step in the Office policy of decentralization, marking as it does the confidence of the Office in the future of the district, is appreciated by beneficiaries, clients, and general public. The statistics given below are for the year ended 31st March, 1924 :— Estates under administration, 31st March, 1923 .. .. . . .. 40 Estates under administration, 31st March, 1924 (including 10 Woodville estates and 16 local bodies' sinking funds) .. .. .. .. .. 73 Value of unrealized assets held on behalf of estates .. .. ... .. £187,300 Cash held on behalf of estates and beneficiaries .. .. .. .. £23,000 Cash held on behalf of local bodies'sinking funds .. .. .. .. £14,500 Assets realized during the year approximately .. .. .. .. £24,000 New wills deposited . . .. .. .. .. .. . . 35 Dannevirke is the centre of both sheep-farming and dairying districts. The prices for the past season have been exceptionally favourable for the former, but, unfortunately, the dairy-farmers are feeling the adverse effects of the decline in prices for dairy-produce. The office has clients who are interested in both branches, and in some instances difficulty has been experienced in collecting rent and interest and in obtaining repayment of maturing mortgages. The branch has endeavoured to meet its clients on as favourable terms as possible, keeping in view that its first duty is to protect the interests of the beneficiaries and the estate of the deceased person. The effects of high-priced dairying-land have not yet disappeared. 5. DUNEDIN. I have pleasure in submitting my annual report on the working of the Dunedin Branch for the year ended 3fst March, 1924. Estates and Funds under Administration.—'Sot: purposes of comparison with previous reports I append the particulars for the past three years. 31st March, 1922, 908 estates, value £839,009. 31st March, 1923, 934 estates, value £1,083,127. 31st March, 1924, 1,026 estates, value £1,228,401. The steady increase in the volume of work controlled at this branch is a noticeable feature. New Estates accepted. --Year ending 31st March, 1923, 277 estates, £319,642. Year ending 31st March, 1924, 352 estates, £402,644. Closed Estates. —During the year 254 estates were closed, of a total value of £239,823. Of these, eighty, with a value of £108,321, were accepted and closed during the year. Realizations. —These totalled £146,744, details of which are as follows : Realty, £29,262 ; mortgages, £10,780 ; shares and debentures, £8,870 ; life policies, £8,297 ; fixed deposits, £20,587 ; bank accounts, £34,547 ; sundry personalty, £34,401 : total, £146,744. Wills deposited. —The number of now wills deposited during the year was 511. The total number of wills now deposited with the Dunedin Branch is 3,941, which is a sure indication of the possibilities of future business in this district. Cash Balances. -The amount of cash held to the credit of estate funds as at 31st March, 1924, was £538,025, including £101,496 deposited with the office under ordinary investment agency. The cash held shows an increase of £54,425 over last year's figures. Interest. —The interest credited to estates totalled £21,827, an increase of £2,127 on last year's figures. Conferences- Two important conferences were held at Dunedin during the year. (I.) Conference of branch officers presided over by the Public Trustee. This was one of a series of conferences of a similar nature held throughout the Dominion. The opportunity afforded of an interchange of ideas was much appreciated, and a better understanding of the methods of Head Office working was obtained ; suggestions were also made to the Public Trustee relative to an extension of powers of District Public Trustees. (2.) Conference of Agents. This was the second conference of its kind, and on this occasion was presided over by the Assistant Public Trustee. It afforded the Agents who attended an opportunity of discussing the problems confronting them in the performance of their work. The conference had a definite educative value, and the Agents expressed their appreciation of the opportunity afforded of meeting in conference a member of the Public Trust Office Board. Representation in Country Districts. —The objective of the Public Trustee has been to provide every district of importance in Otago with competent representation. By reasom of the scattered nature of this district it has been found necessary to provide no fewer than fourteen representatives--■■ one District Manager, six part-time officers, seven Agents. The offices are as under : — Bahlutha." This District Manager's office was opened at the beginning of March, 1923, and has made steady progress during the period of its existence. At the 31sfc March, 1924, the District Manager controlled fifty-six estates, of a total value of £53,97f. During the year fourteen new estates, valued at £13,800, were accepted, and twelve estates, valued at £12,680, were closed. There is direct evidence of public appreciation of the appointment of a District Manager, and during the thirteen months that the office has been in existence sixty-nine new wills have been executed, the value of the estates involved being over £107,000. The total number of wills on deposit at the Balclutha Office is now 360. The volume of business increased during the year to such an extent that it was found necessary to appoint a clerk to assist the District Manager.