8.—9,

50

Despite the effects of the general depression there has been considerable growth in the Town of Hamilton, new houses being erected in all directions, and many expensive buildings arc under" construction in the main street. A great future for the town seems assured. Speaking generally, a much healthier tone now prevails, and the future is viewed with a confidence that was lacking for the last few years. The success of the district, and, in fact, that of the whole country, is dependent on the successful marketing of our produce on the Home markets, and if this can be assured and the output maintained our recovery from the depression occasioned by the slump of a few years ago should be hastened. Share-market. —Standard stocks have been in demand at increased prices on last year's, and some good realizations have been effected. On the whole there is an improved tone, which is indicative of a gradual return to normal conditions. Te Kuiti Branch Office. —During the past year the King-country has passed through strenuous times. The winter was a fairly mild one, but the spring was accompanied with exceedingly damp and cold weather, and many farmers, especially those dairying and cattle-grazing, lost heavily. However, the summer has been good, and the prices realized for stock and commodities have been exceptionally good, and in many cases the farmers have been in a position to retrieve. Many, however, have come through the slump only to find that it is impossible to carry on. The land-market has been extremely dull, and in many cases estate farm properties have had to be managed, in every case successfully. With a return of good prices and consequent inquiries for land, especially sheep-country, every endeavour is being made to dispose of these places. One farm has changed hands recently. The following statistics show that the Office is making progress in the district:—• Number of new wills, 43. Estimated estate value, £125,400. New estates accepted :—1923—12 ; value, £17,700. 1924—18 ; value, £25,000. Estates under administration :— As at 31st March, 1923—34 ; value, £53,962. As at 31st March, 1924—42 ; value, £50,250. Increase in the number of estates under administration for the year, 8. Estates closed and distributed during the year, 10; value, £12,077. Of this number, cix estates, of a value of £10,291, were closed within the twelve months in which they were reported. Te Aroha Part-time Office. —Te Aroha is visited once weekly from Hamilton. During the year ten wills were obtained, and three estates fell in for administration. There are some large local-body loans in the district as well as loans to private individuals. Cambridge. —The Office continues to make very steady and continuous progress in this district. Six estates, of a value of £9,000, were accepted for administration, whilst twenty-five wills, of a value of £87,400, were obtained during the year. When the Agency was opened in 1921 a good deal of vagueness existed with regard to the functions of the Office, but now these are better known the public generally are availing themselves very fully of the facilities afforded by the Office in regard to the administration of estates and as a lending institution. Over £26,000 was lent in the immediate vicinity during the year. Kawhia. —Although the farmers here have had two fair seasons with dairy-produce, wool, and lambs, it has not resulted in any substantial improvement in financial conditions generally, the effect of the slump still being felt. The progress of this district has been retarded for many years by the want of good roads, the large area of land still held by the Natives, and by an unduly high unimproved value being placed on the land. Very little fresh business had been done at this Agency during the last twelve months, which is largely accounted for by the backward state of the district. Morrinsville. —Financial conditions are still in a somewhat depressed state, but are improving. The district is confined practically to dairying. There is not much progress to report, but the parttime office at Te Aroha (about twelve miles distant) serves a good deal of the surrounding district. Matamata. —The conditions generally have improved, and the outlook for the farmer is somewhat brighter. The functions of the Office are becoming more widely known, and the public are utilizing its services with increasing confidence. A year of steady progress. Opotiki. —The local farmers, both dairy and sheep, have experienced a record year, which was shown by the collection of interest on mortgage and rents, which were very satisfactory. The new coastal road now being formed towards the Cape will see a marked increase in development in this part of the Bay of Plenty, and Opotiki, as the natural outlet for the majority of this produce, should derive benefit accordingly. This past year the Agency has shown an improvement, and is now being more appreciated by the public. From several inquiries now coming to hand this coming year should show a considerable increase. Paeroa. —Business generally has been very quiet in this district. Very little new business has been written during the year. Rotorua. —The Town of Rotorua has suffered considerably as a result of the slump and the consequent falling-off of the tourist traffic. There is very little progress to report for the period under review. Raglan. —A new Agency was opened this year, and it is anticipated that the Office business in the district will be extended. A foundation is now being made for future business, a number of wills having already been obtained,