TRUST MONEYS.
INVESTMENT IN WAR LOANS By Telegrapu—Press Association, Wellington, Monday. In an interview to-day with Sir Joseph Ward he.stated that representations had been made to him on behalf of trustees who were desirous of investing in New Zealand war loans but were reluctant to avail themselves of the power to borrow on security their trust estates for the purpose of making such investments because of personal liability which they might incur to provide for repayment to lenders. This applied to trustees generally and especially to agents for absentees. Hp had placed the matter before the 0 nks through the chairman of Associated banks, and lie was informed that in any cases where security of the trust estate was ample and repayment of such loans fully secured the bunks would not object to an exclusion of personal liability of trustees or agents. Each case would, however, have to be decided by the bank concerned on its merits. He desired to give this out for general information to those concerned.
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Taranaki Daily News, 1 May 1918, Page 2
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169TRUST MONEYS. Taranaki Daily News, 1 May 1918, Page 2
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