The Public Trust Office has been established for the purpose of affording [unclear: at] rates of commission a secure and convenient recourse for persons resident as well abroad as in New Zealand, who may desire to form trusts in the colony, and may be in doubt or difficulty as to the choice of trustees or executors; and for person also who are appointed to or have accepted trusts but who may be unwilling for various reasons to undertake or continue the administration.

Its Constitution and Objects.

The Public Trust Office was constituted by "The Public Trust Office Act, 1872. and its functions have since been much enlarged by amending Acts, necessary to enable the office to meet the growing requirements of the public and of the business The Amendment Acts of 1891 and 1893 present many new and important features They facilitate the administration of properties placed in the office; provide for the administration by the Public Trustee of intestate estates of a value not exceeding £250 without the expense of an order of the Court; provide for the notification to the Public Trustee of the money and property of deceased persons, by persons, etc, having the custody of such property and knowing it to be vested in the Public Trustee; authorise a more prompt distribution of the residue of testate and intestate estates; provide absolute security from loss to properties of the funds arising from them which may be invested at the discretion of the Public Trustee in mortgages of real estate within the colony, or in General Government securities of the colony; insure the regular and punctual payment of interest on such funds; and, by rending practicable a more efficient conduct of the office and of the arrangement of the accounts, have raised the office in the estimation of the public.

Its Security.—Capital Funds and Interest Guaranteed.

The security and fidelity of the administration of the Public Trustee must undoubtedly affort a great attraction to any person who may contemplate the appointment of a trustee. The Public Trust Office is a Government department. The fidelity of its administration is guaranteed by statute; and, by 'The Public Trust Office Acts Amendment Act, 1891," the colony guarantees the integrity of the capital funds of properties placed in the Public Trust Office where there is no direction for the investment of such funds, or where there is no direction for such investment other than generally that the funds are to be invested at the option of the Public Trustee, in General Government securities of New Zealand or in mortgage of real estate within the colony.

The colony also guarantees on such capital funds for investment a common rate of interest, to be determined from time to time by Order in Council, and to be credited quarterly, free of all office charges of the Public Trust Office, to the properties from which the funds arise.

A person making a will or arranging a trust must always be seriously concerned as to the security of the capital funds; and the larger the capital funds the greater will be the concern for security, and the less for a high rate of interest.

The Public Trustee, in his official capacity, never dies, never leaves the country, and never becomes disqualified or involved in private difficulties, or distrusted. It will thus, be evident that, by his appointment as trustee, the preparation of the numerous deeds, and the consequent expense, which might become necessary in the case of a private trustee are altogether obviated. These advantages will be readily appreciated by all who have any knowledge of the incidents of trusteeships.