Excerpt from The Investment of Trust Funds
Laws have been passed in several States to regulate and restrict the investment of trust funds, including savings bank deposits, which are classed as trust funds. In many of the States, however, the selection of investments is left to the trustee, except when acting under instructions of the trustor or a court of law.
There have come to public notice recently several cases of financial loss to trustees because of the inferior kind of investments selected. This has caused it to be inferred that there are many persons who are not familiar with the precaution to be observed in selecting securities.
It is desired, therefore, to venture some suggestions to individual trustees exercising this discretionary power, which may assist in the selection of sound investments. The suggestions may also be of some value to those who are under the mistaken impression that high rates of interest accompany safe investments.
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