INVESTMENT TRUST

Wairarapa Daily Times, 20 April 1935, Page 6

INVESTMENT TRUST

LIQUIDATION FAVOURED,

CHRISTCHURCH, Friday.

Resolutions favouring the liquidation of the Investment Executive Trust of New Zealand, Ltd., were carried at a meeting of 23 debenture holders in Christchurch, held on Thursday evening. The meeting also decided to thank tho Government and the Rt. lion. J. G. Coates, Minister for Finance, for the prompt action taken over the affairs of the trust. The'resolutions carried were: “That in face of tho disclosures in the New South Wales Commission’s report, and the reports of the New Zealand inspectors, this meeting of Christchurch debenture holders in the Investment Executive Trust is emphatically in favour of the inspectors’ recommendations for liquidation with the Public Trustee, and this meeting recommends that an advisory board of two or three debenture holders bo appointed by the Government to act in conjunction with the Public Trustee; that a vote of thanks be accorded to the Government and especially to Mr Coates, Minister of Finance, for the prompt action taken; that in the event of the Government deciding to appoint two or three debenture holders to act with the Public Trustee, this meeting recommends that Mr J. D. Renton be appointed.”