It will be recalled that in the case of the
Insurance and Investment Trust Units and the Scottish Trust large sums were made available, if required, to repurchase units without throwing underlying securities on the market. At the recent annual general meeting of the Trust of Insurance Shares, which is reported in another column, the chairman, the Rt. Hon. Charles A. McCurdy, stated that the units of these Trusts have been freely marketable without the need to resort to these special provisions, and that, notwithstanding the conditions of extreme depression which have characterised the Stock Markets during recent weeks. That these special funds have not been required is in itself a reassuring fact, but undoubtedly the provision which was made of a buffer between the market for the securities and the unit holder should be most valuable in times of special pressure, as calcu- lated to achieve stability of price movements and freedom
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