| Description | Regarding the recent correspondence on the subject of the Italian Irrigation Bonds in which the funds of the Gassiot Trust are directed primarily to be invested, the Treasurer has come to the conclusion that it is useless to continue holding the money representing the drawn bonds in the hope of obtaining others, and has decided to invest those in other securities sanctioned by the Trust Deed. He would like them to suggest two or more investments from which he might select for this purpose, giving their present market quotations. Sending a copy of the clause of the Gassiot Trust Deed [no enclosures]. |