Page 11 Advertisements Column 2

Press, Volume LXX, Issue 21174, 26 May 1934, Page 11

Strict and Regular Accounting THE organization of the Public Trust Office includes a strictly accurate method of accounting for all trust funds, and all transactions are under a continuoui; audit. Detailed accounts, setting out clearly the progress of the administration, arc furnished to beneficiaries at regular intervals. Appoint the Public Trustee to act on your behalf, and be assured that all phases of the work will be dealt with promptly, systematically, and efficiently. IN TRUSTEE WOOIr— Halfbred .. np to IBd per lb. Three-quarterbred . to 14d per lb. SHEEPSKINS— Halfbred .. to Hid per lb. Three-quarterbred .. to BJd per lb. Crossbred ..to 6)d per lb A. and J. McDONALD; Cash Buyers. 141 Madras Street,

mmMmM^^mmmim^i^m^mMMM^^m^^^ Opinions of some Leading Economists—- — N examination of the lists of British Investment Trust reveals that in June 1931, for every £IOO originally invested in forty L different Trusts—£24l, or a profit of 141% could be obtained on the London Stock Exchange, while the average rate of dividend 1. ™\ payable on the shares was 16.8%. THE INVESTMENT EXECUTIVE TRUST OF NEW ZEALAND LIMITED is modelled upon the most approved lines of the best British Investment Trusts. Its expert advice on group investment. Following are printed some opinions of unquestionably able economists : The "Financial Times," London, purchase of sound securities which June 19th, 1929: deserve support, which are really con"lt is difficult to imagine a combination tributing. to our modern civilisation, of circumstances that can seriously pre- and which in.the great majority of cases judice the almost impregnable position reward handsomely those who show attained by the old-established Invest-, confidence in them. One of our prominent Trust Companies. It is obvious jnent periodicals says:— that investments may go wrong at. "it is probable that never before in history times, but the possession of a large has the stock buying public been invited to number of varied securities is a very participate in a new development in which ra-„ .. „-.._- f.~„, .1., _r t u* mw rsl lt " as so " ttle chance of losing and such a different matter from that of the case of d chance of making mo * as u the private investor, who probably has . offering prices of Investment Trust neither the capital, time nor experience Securities." to enable him to spread his risk suffici- There can be no question that the ently to help him fully to recoup any Investment Trust idea isan excellent one loss he may sustain in any particular an d nobly deserving of popularity; in industry or country. no other way can the laymen so easily The past few years have witnessed the secure the services of experts to do his formation of a great number of new investing for him." Investment Trust Companies, not only ' ~..,..„ in this country, but also in various other The Financial V/or Id, parts of the world, especially in the London, November IBth h !*».— United States of America, where the "One may go so far as to say that the movement has made enormous strides. Stocks of properly-conducted InvestIt is not surprising therefore, to find the ment Trust Companies have a higher old-established EnglishTrustCompanies ratio of security than even British keeping pace by fairly regularly increas- Government Ltians." insz their capital with further issues ol , .ipj..„„,;„i'h! .■» ,A „„j u„ <iu»m r,™ Ihe Financial World, Debenture Stocks and by Shares con- January 10th, 1931:vertib e, when ful y paid,into Preference , ~ and Ordinary Stocks. These Shares, Investment Trusts have deservedly usuallyissuedtoexistingOrdinaryStock- £ ccomc .P°Pg" ™ h th = lnvest ° r > 1 1 j -.u 1 .~. ™ k«o„c because in addition to giving greater holders either as a bonus or on bonus . , . . . & . ~f o ? , _ security for capital than industrial unrcrms. represents a substantial windtall . ■ . ? r ... , . , , ,' , p ,, 1 „ , „„. tn „„,,.,„ dertakings can possibly achieve, they or the holders and accounts to some , ° , t- j » . ; extent for the persistent demand and holdout the prospect of steadily inscarceness of th? supply of these Ord- «easing dividends and consequent cap- '; , • 4 , ', „ ital appreciation. This class of security marv Stocks in the market. rr c „ ~ , .. , The Debenture and Preference Stocks came successfully through the depreciofthebestoftheestablishedlnvestment ? tion m values caused by the Great War. Trust Companies can to all intents and In / e . w <f es were dividends reduced, , j j„„ «„:u „j„„,i " and in those cases, it was more from purposes be rega ded as g.l -edged than from actual necessity; and at approximate current paces p« oW rates were SOOQ a most satisfactory yield for such high- old . estab i{ shed Trusts are to . day class securities. - ■ • • - ~ , . , J in many cases paying appreciably higher "Harper's Magazine," April, 1929:- dividends than in pre-war days and "THE INVESTMENT TRUST PROPER- their Ordinary Stocks now stand at LY ORGANISED AND PRUDENTLY prices which would then have been MANAGED, CAN RENDER A SERVICE Considered fantastic. Probably the most TO THE INVESTING PUBLIC THAT anf v,nrir9tive Denouncement on the CAN BE RENDERED BY NO OTHER authoritative pronouncement on the TYPE OF ORGANISATION. value of Investment Trusts is contained The Investment Trust concentrates its in the Report of. the Liberal Industrial capital in the control of skilled invest- Enquiry Committee on Britain'^ ment experts, and employs it for the Industrial Future." THE LIBERAL INDUSTRIAL ENQUIRY COMMITTEE ON BRITAIN'S INDUSTRIAL FUTURE RECOMMENDS: "The best form of investment for the small investor is in a soundly managed Investmen' Trust, which enables him to distribute the risks on his small savings over a widevanety o< concerns, so as to get a better return than in Trustee Securities or Savings Banks. He mav also hope for some capital appreciation, owing to the vvise buying arid selling of securities by the Directors. In short, through an Investment Trust the small investor is to some extent put on a level with the big investor. Our conclusions then are:<i) Ti.-'t a ereat expansion of popular saving and investment is necessary in the national interest; that this involves a wider diffusion of the banking habit and the encouragement of popular investment : (a) By cmployce-share-purchase under proper safeguards ; (b) By customer-share-purchase in public utilities; (c) BY THE ENCOURAGEMENT OF INVESTMENT TRUSTS." THE INVESTMENT EXECUTIVE afia Full information of the Trust's activities, as contained in its Prospectus regis- • tered under the new Companies' Act, 1933, will be immediately supplied on application to any of the following addresses : HEAD OFFICE: Yorkshire House, Shortland Street, AUCKLAND. BRANCH OFFICES: National Bank Buildings, Fealhcrston Street, WELLINGTON. Commerce Buildings, Hereford Street, CHRISTCHURCH. Queen's Buildings, Princes Street, DUNEDIN. 54.1.TA/6/34