8.—9

Briefly, the will directs the application of one-half of the net income from the estate for such charitable and educational purposes or institutions in the Provincial District of Wellington, in such manner and in such proportions as a special Board of Trustees indicated in the will shall decide. On the termination of certain annuities and other interests the whole of the residuary estate's income will be available for the charitable and educational purposes mentioned. The final balance of the estate for duty purposes was £389,689, but by dint of careful and prudent control and management since the death of this generous-hearted testator the assets have increased to a value which exceeds half a million sterling. Last year a record sum of £14,500 was available for distribution, in terms of the will, for charitable and educational purposes. The trust has now been in operation for fifteen years, and during this period the large sum of £123,527 has been distributed. The following sets out each year's allocation since the inception of the trust: — £ £ 1913 .. .. 2,530 1922 .. .. 9,015 1914 .. .. 7,325 1923 .. .. 9,350 1915 .. .. 7,070 1924 .. .. 10,125 1916 .. .. 6,880 1925 .. .. 12,040 1917 .. .. 5,790 1926 .. .. 13,600 1918 .. .. 5,112 1927 .. .. 14,500 1919 .. .. 6,545 1920 .. .. 6,785 £123,527 1921 .. .. 6,860 ==— The administration has been fruitful of very gratifying results, and at the last annual meeting of the Board of Governors the Chairman, on behalf of the Board and with the approval of each member thereof, expressed his appreciation of the capable and efficient manner which, in the opinion of the Board, the trust and its functions were managed by the Public Trustee. WILLS DEPOSITED. 82. During the year additional wills numbering 5,789 were deposited by testators with the Public Trustee for safe custody. The following table gives detailed figures for the year : — Wills on hand on 31st March, 1927 .. . . .. 53,531 Add new wills from Ist April, 1927, to 31st March, 1928 . . . . . . . . ■ • 5,789 Deduct wills withdrawn from Ist April, 1927, to 31st March, 1928, through death of or otherwise . . . . .. .. 1,255 Net increase in number of wills on deposit .. ,534 Total number of wills on deposit on 31st March, 1928 .. 58,065 The following return shows the yearly increase of wills deposited for the period commencing 31st March, 1916, and ending 31st March, 1928 :— Number of wills on deposit at 31st March, 1916 .. 11,385 Net increase for year ending — 31st March, 1917 . . . . 4,884 1918 4,781 1919 .. .. 3,187 1920 .. 1,555 1921 .. 2.564 1922 . .. 3,483 1923 .. .. •• •• 3,663 1924 .. • 4,180 1925 . . .. 4,420 1926 .4,855 1927 .. •• 4,574 1928 .. .. .. ■• 4,534 Number of wills on deposit at 31st March, 1928 . . 58,065

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