|Description||Harrison has seen the Treasurer and he agrees to accept their suggestion to invest the sum of £4000 now standing to the credit of the Trusts Account, in New South Wales four percent 1942/62 stock. A considerable time has elapsed since they last communicated on the subject of repurchase of Italian Irrigation Bonds to replace those which had been drawn to the amount of £3321.3.4, and withdrawal of so large a sum from investment represents a serious diminution of income on the Gassiot Trust. |
Enquires whether there is any likelihood of further purchase of these Bonds at an early date. If there is no immediate prospect of such purchase Harrison asks that they place £3108.16.0 on deposit at once. The deed of the Gassiot Trust directs the reinvestment of the capital of the Trust in these particular bonds, 'if they can be obtained', and evidence would have to be produced to the satisfaction of the Council that the Bonds are not obtainable before they would feel at liberty to invest the capital in any other stock.