INTEREST TO BENEFICIARIES
PUBLIC TRUST PAYMENTS (From "The Mail’s” Parliamentary Reporter) WELLINGTON, 3rd March. Mr H. S. S. Kyle (Government, Riccarton) asked the Prime Minister whether the interest paid to beneficiaries by the Public Trust out of the common fund had been reduced from 5£ per cent, to 4£ per cent., and what guarantee was there that there would be no further reduction in the future. In reply, Mr Forbes said that the reduction had been made in December last, and had been necessary owing to the decreased ’field on investments. This was the experience of all financial institutions. It was 1 hoped that there would be no further reductions, but that would depend on the economic and financial conditions.
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Bibliographic details
Nelson Evening Mail, Volume LXVI, 4 March 1932, Page 4
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120INTEREST TO BENEFICIARIES Nelson Evening Mail, Volume LXVI, 4 March 1932, Page 4
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