WAR LOAN INVESTMENTS'
LIABILITY OF TRUSTEES. In an interview yesterday, Sir .Toseph' Ward stated that representations had been made to him on behalf of trustees who were desirous of investing in the Now Zealand War Loans but were reluctant to avail themselves of the power to borrow on the security of their trust estates for the purposo of making 6ucb. investments because of tho personal liability which.they might incur to provide for repayment to tho lenders. This applied to trustees generally, and especially to agents for absentees. He had placed the matter before the banks through tho chairman of the Associated Banks, and; he was informed that in any eases where the security of the trust estato was ample and repayment of such loins fully secured the banks would not objecc to an exclusion of personal liability of the trustees or agents. Each case would, however, have to Ijo decided by tho bank concerned on its particular merits. He desired to give thirf out for the general information ot those concerned.
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https://paperspast.natlib.govt.nz/newspapers/DOM19180430.2.24
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Dominion, Volume 11, Issue 189, 30 April 1918, Page 4
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171WAR LOAN INVESTMENTS' Dominion, Volume 11, Issue 189, 30 April 1918, Page 4
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