15

8.—9

Partial intestacy : Distribution. Extending the term and/or increasing the rate of interest on Common Fund mortgages or other mortgages : Consents of subsequent mortgagees. Resealing probates and orders to administer in Great Britain. Application for probate, &c., where deceased known by more than one name. Custody of wills of mental patients. Stamp-duty accounts where estates not dutiable. Preparation of wills: Partnership business —Direction or power to carry on. Attestation of mortgage documents. Powers of attorney : Redrafting of standard Office form. Recording of legal work. Work and control of Farm Inspectors : Allocation of districts. The Death Duties Amendment Act, 1925. Execution of wills. Amended regulations dated 10th November, 1925: Increase in Office rate of interest and reduction in charges. Collection of book debts. Stamp-duty accounts : Valuation of shares and debentures quoted on Stock Exchange. Stamp-duty accounts : Assets realized before filing of stamp accounts. Additional covenants to be inserted in mortgage forms. Assignments, orders, and authorities to pay. Income-tax : Assessment of trust income—lnterpretation of section 102, subsections (a) and (b), of Land and Income Tax Act, 1923. Resealing of New Zealand probate in England : Requirements of English authorities. Insurance in respect of Common Fund and all superannuation fund mortgages. Duties and powers of District Managers in estates. Associations formed • under the Land Settlement Finance Act, 1909: Delegation of administration to District Public Trustees. Accounts register and diary card system. Payments through the High Commissioner to principals : Acceptance of moneys to be made available for them in London. Recording receipt of registered mail. Interest payable on legacies. Wills of Natives. Land and income tax : Filing certificate under section 35 of the Public Trust Office Amendment Act, 1921. FINANCE. 13. In my report for the previous year mention was made of the difficulty in arranging suitable investments to absorb the ever-increasing funds as they become available from time to time during the year, and yet be in the position to meet all liabilities as they fall due ; and it will be understood that the liabilities following upon the custody of estates and accounts of a value of nearly £40,000,000 are very heavy, while many of them cannot be foreseen. Many factors have to be taken into account in estimating, too, the funds that will fall into the Office for investment, while the value of estates that may be reported for administration cannot be known beforehand. The large sums available and the uncertainty regarding their amount make a close investment of the money a matter calling for the strictest attention. Generally, it has been found necessary during the past year to arrange loans to be completed as funds become available. Every endeavour has been made to make payment on dates convenient to borrowers, but at times it has been necessary to effect settlement earlier or later than the dates when settlement would have been more convenient to the borrowers. Full consideration is always given to representations made by borrowers with regard to settlement, but the finances of the Office have not always permitted of their wishes being fully met. Unless borrowers can take money when it is available it is sometimes impossible to give any assurance of the date of payment. Dealing with such large sums as the Office has to handle no other course