8.—9

51

Tauranga- The general conditions in the Tauranga district, including Te Puke Sub-agency, during the year ended 31st March, 1924, have probably been the worst experienced for the last ten years, owing to the stringent financial difficulties obtaining among the farming community, which naturally affected seriously all other businesses in the centres. The effect of this slackness in business seemed to make people disinclined to enter into any business matters excepting those vitally affecting and necessary to maintain their financial status. It is not anticipated that general conditions will improve until after the winter months or the end of the year. Wills : This feature of the office-work has received careful attention, and a sound foundation for future business has now been laid. The Public Trust Office is beginning to be widely known and appreciated. During the year over thirty wills were deposited exceeding £80,000 in value, and a few have been made with clients' own solicitors. Six estates, valued at £50,000, were accepted for administration during the year. Thames.— The general condition of this town is " progressive," as a number of works are in progress which will bring the town into an up-to-date condition. The district is also going ahead, and the farming community are reaping a very good harvest after such a bad winter. Taumarunui. —Conditions in the Taumarunui district are much improved from those obtaining even twelve months ago. The excellent prices for wool and (until quite recently) butterfat obtained are in a great measure responsible for the present buoyancy. The large expenditure of loan-moneys by the Borough Council and Hospital Board are reflected, so far as the town is concerned, by increased business. The number of wills being drawn is steadily increasing. Although there are no large estates being administered, yet the Office appears to be giving satisfaction. Waihi. —This district in the past has almost entirely depended on the mining industry, but of late years a considerable falling-off has taken place, and at the present time only about half the quartz tonnage is being treated in comparison with the output up to the year 1912. In consequence both Waihi and Waikino have a smaller population than formerly. On the other hand, the Waihi Plains, which were considered useless a few years ago, have been gradually cleared and grassed, and a flourishing dairying industry has been established, and the prospects in this direction are very bright. During the past twelve months it cannot be claimed that the Office has made any special progress in the district, but the aims and objects of the Office are better understood by the public, and an increase of business may reasonably be expected. During the past year thirty-three estates have been under administration, and fifteen wills have been lodged for safe custody. Whakatane. —During the year this District Manager's office was closed and an Agency established. The Office continues to make headway, and with the recovery from the slump and the improvement of conditions in the district a steady influx of new business is anticipated. Thirteen wills, of a value of £38,000, have been obtained since the opening of the Agency in July last. These Agencies have been visited regularly throughout the year, and special visits have been made whenever required. During the year a well-attended conference of Agents was held at Hamilton, Mr. H. Turner, Assistant Public Trustee, presiding. This proved very valuable and instructive, and further conferences, it is hoped, will be held from time to time. 9. HAWERA. Statistics. —At the end of the year the estates under administration numbered 229, valued at £439,887. This is an increase over last year's figures of 19 estates, valued at £51,306. The number of new estates accepted for administration during the year was 46. As against this, 28 estates were distributed and closed. The value of estate assets realized during the year was £53,485. . The number of new wills deposited for the past two years was —Year ended 31st March, 1923, 72 ; year ended 31st March, 1924, 94. Financial. —The first half of the year was marked by the return of more normal conditions in the district, and as a consequence during this period property was sold fairly freely though at lower prices than, obtained previously. Since then the outstanding features have been the depressed state of the market for dairy-produce in England and the very satisfactory prices obtained for wool. Dairy-farmers have not had a prosperous year, as production has been below normal, owing to the prolonged drought in the summer, and the pay-out from the factories is lower than for some time past. The position of sheep-farmers has improved, and if the price of wool continues at the present level there should be a demand for sheep-farms in the future. A number of West Coast Settlement Reserves leases fall in this year, and the Native owners, in many cases, intend taking them over and farming them themselves. The present lessees will no doubt compete for leases of other properties, so that there should be demand for land at the beginning of next season, though rentals will have to be easier than in the past to compensate for the lower price which it is anticipated will be realized for produce. Mortgages. —The total amount lent on mortgage from the Common Fund of the Office in this district is £647,771. The collection of interest has been easier during the past twelve months than for some considerable time, although a number of mortgagors have required temporary concessions, as in the past. Towards the end of the period the effect of the drought and reduced pay-out from the factories has been felt, and it is anticipated that the position will become more difficult during the coming winter. Safe-deposit Lockers. —A number of lockers were let during the year, and the facilities provided or the deposit of deeds and other valuable documents in safe custody has been appreciated by clients.