DEPLETED VALUES
TRUSTEE SECURITIES
LOW INTEREST RATES
Legally reduced interest rates and high taxation and their influence on prolits were referred to by Sir Alex. Stewart, chairman ot the Trustees, Executors and Agency Company, Melbourne. "The trend to-day," he said, "is in the direction of higher costs, and, as our charges are fixed by law, the problem of maintaining profits is not easy of solution, but special attention has been and is being given to effecting economies wherever if is possible. The reduction in interest rates and increase in taxation are two factors which bear materially on the operating results.
'"These factors also affcct benciic-iaries in estates since truecees avo so frequently hound-by trust-instruments to invest the funds solely in authorised trustee securities.
"The rates of interest on these are now lower than they have been for many yeavtf, and as this position follows on the compulsory reduction of rates brought about a few years ago by legislation, this section of the community seems to be iu a rather unfortunate position."
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Bibliographic details
Auckland Star, Volume LXXII, Issue 212, 8 September 1941, Page 3
Word Count
171DEPLETED VALUES Auckland Star, Volume LXXII, Issue 212, 8 September 1941, Page 3
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