PUBLIC TRUST
(To tlio Editor of the Herald.) Sir, —I read the long letter of the Public Trustee in Saturday’s issue. Perhaps Mr. McDonald would answer two questions: Why have so many local bodies suddenly sought to withdraw their funds? In view of the different classes of investment which the Public Trustee undertakes, how is it that he has not provided against a contingency such as this demand on the part of the local bodies? T'ljiß banks do a similar class of business, and have large sums out on mortgage of land.which they cannot get- in. No legislation has, ever been demanded by them, vet, as Mr. McDonald admits in his letter, we have already two different Acts put through to protect the Public Trustee. Would not public confidence be better satisfied if the Public Trustee would follow the lead of the banks, and carry on without legislative interference?—-Yours, etc., . ENQUiIiHR..
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19321205.2.95.1
Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17954, 5 December 1932, Page 6
Word Count
151PUBLIC TRUST Poverty Bay Herald, Volume LIX, Issue 17954, 5 December 1932, Page 6
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.