8.—9.

56

branch during the year, and of this number no less than 161 were new wills, and the balance (81) were old wills redrafted. The number of new wills deposited is an increase of no less than 60 per cent, on either of the two previous years. A large number of these wills were also made by persons with very valuable estates, and also by beneficiaries interested in estates administered by this branch, and it is a very fine recommendation of the value of the Public Trust Office, and particularly of the local branch, that beneficiaries are being attracted. The decentralization of the administration of estates has had a wonderful effect- in expediting the work and in completing the administration. It is now a common occurrence for small estates to be completed entirely within three months, and this is much appreciated by beneficiaries. Expressions of satisfaction are continually being given by beneficiaries and others. Of the sixty-nine estates closed during the year no loss than eighteen were administered within four months of being reported to the office. The business done at the Nelson Branch compares, no doubt, very favourably with any of th.o smaller branches of the Public Trust Office, and a very fair percentage of the estates in the district are administered by the office. Progress must, however, be only steady, as the district is a large one and very scattered, and at the same time it appears*very isolated when compared with other parts of New Zealand. For this reason it is very difficult to bring under the notice of the general public the advantages and usefulness of the Public Trust Office without a certain amount of advertising. No great difficulty has been experienced in this district in the realization of the various assets and properties for sale by the office in the course of administration, and there are at present very few properties on hand for sale. An exception, however, must be made in respect of orchard properties, which are practically unsaleable. There is no doubt this district has received a serious set-back through the very largo areas subdivided and planted in apple-orchards. Hundreds and thousands of pounds have been put into these orchards without any return, as several years have to elapse before the trees are in profit. After several years of hard work the orchardist in many cases in this district has abandoned the property, as he could not see anything in the future for him except sinking more hard cash into the property and plenty of hard work without even paying expenses, let alone interest on the money invested, or a living. At the present time there is a possibility of one of the biggest orchards in the district, where there has been some £30,000 to £40,000 spent, being abandoned as an orchard property. In a great many cases the land is so poor that it is not fit for anything else except the growing of Pinus insignis. A few facts concerning the Nelson Branch are stated hereunder : — (1.) The staff as at the 31st March, 1923, was eleven, and on the 31st March, 1924, the number was twelve. (2.) On the 31st March, 1923, there were 341 estates, of a total value of £464,746, under administration* at this branch, and on the 31st March, 1924, this was increased to 357 estates, valued at £473,439. (3.) Eighty-six new estates were accepted and one estate delegated during the year, making a total of eighty-seven new estates for the year, with a total value of £78,180. (4.) No less than sixty-nine estates wore closed and two estates delegated during the year. (5.) Wills executed during the year numbered 242, including 161 new wills. (6.) There were twenty estates accepted and closed during the year, and the value of these estates was £11,904. (7.) The total interest added to accounts for the year ended 31st March, 1924, amounted to £9,362. (8.) There are 114 mortgages, and the total amount on mortgage in estates administered by this branch is £91,652 3s. lid. (9.) The following is an approximate summary of the realizations for the year ended 31st March, 1924 :— £ s. d. Bank: Current accounts .. .. .. .. .. 850 6 3 Post Office Savings-bank accounts .. .. .. .. 7,795 3 2 Fixed deposits .. .. .. .. ... .. 3,387 1 0 Shares .. .. .. .. .. .. .. 386 1 2 Life policies .. .. .. .. .. ... 1,685 7 9 Realty and purchase-money .. .. .. .. .. 11,113 0 0 Mortgages.. .. .. .. .. •• •• 5,349 10 0 Live and dead stock.. .. .. .. .. .. 350 2 0 Furniture and effects .. . • .. ■ • ■ ■ 654 13 8 Lodge benefits .. .. .. .. 242 13 0 Book debts 281 0 3 Cash in possession and in house .. .. . . . . 73 13 0 Miscellaneous 2,718 9 11 Total .. .. .. .. £34,887 1 2 In addition to the above there have been a number of realizations on account of other branches, and a number of sales of sections made on account of the Stansell Estate administered by the Wellington Branch.