Show Bankers Liable for Advice The highest court in Germany has In several recent cases fixed the 10 sponslbility of bankers when advising Investments to their clients I Ono of tho latest decisions was rendered ren-dered against a bank which upon receiving re-ceiving an order from a customer to I Invest 7500 in certain mortgage bonds Instead of executing tho order advised Its customer to buy Instead tho bonds of another company as equally safe and possessing advantages advan-tages over those ordered The customs cus-toms followed the advice and when I tho company failed ho sued the bank Tho court In its decision against the bank held The bank has not dono Its duty In taking care of Its customers Interests when it recommended recom-mended tho purchased bonds to be as safe as those originally ordered to be purchased because tho bank should have known that tho latter had the quality of legal or trust Investment funds for widows and orphans wards otc whereas too bonds advised and bought for the customer lacked that Important qualification |