TRUST COMPANY'S YEAR
TAKING A SHORT VIEW
No assurance that the current dividend rate could be maintained could be given by the directors, the chairman ?M?. Staniforth Ricketson) told shareholders of Australian Foundation Investment Trust, Lim ted formerly Were's Investment Trust, at the annual meeting held in Melbourne recently. Mr. Ricketson said, that it was not possible to take any other but a short view but in the absence of any marked improvement in economic conditions overseas, indications were that investors should be prepared for lower profits and dividends on a number oi industries in the current term. Referring to the fall of 13.6 per cent, in the book value of the company s investments during the past twelve months, the chairman reminded shareholders that there were reserves in existence equal to 13 per cent, on investments, and, furthermore, a decline in market values did not necessarily imply any permanent deterioration in the soundness of a trust which was in a position to hold through periods of market depression.
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Bibliographic details
Evening Post, Volume CXXVI, Issue 77, 28 September 1938, Page 16
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169TRUST COMPANY'S YEAR Evening Post, Volume CXXVI, Issue 77, 28 September 1938, Page 16
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