OCR Text |
Show Executors of trust estates and others having monies to invest in public securities are suffering no little anxiety from the shrinkage in the rate of interest now offered. The national and state debts are being paid off with rapidity. In the years 1876 and 1877, which were called "hard times," four per cent. bonds could be purchased at ?? but now they have advanced so that they barely yield three per cent. upon their market value. In other words, an income invested in government bonds is 25 per cent. less in value to-day than if invested four or five years ago. |