TRUST COMPANIES.
Under the title of "The English Investment Trust Com- panies" a useful volume has been compiled by Mr. George Glasgow, with a foreword by Dr. Gerald T. Moody, so well known in the Trust world. In this foreword Dr. Moody remarks with truth that the benefits of Trust company administration are spreading to an ever-increasing public. Dr. Moody lays down certain main principles which should govern a Trust company, with which all sound bankers and financial experts will be in accord. He says, for example, "an investment trust company is concerned first with the security of its funds, and, secondly, with profits in dividends from its funds. It cannot benefit directly from Capital profits; it can divide only the income from invested funds." * * * *
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