The second answer is that they would not, if they eouldi, under any condition that exists to-day, or that can be foreseen, because the interest rates are not as attractive in the United States as they are here. Then, the third answer is found in the foreign exchange control board. There is a fourth answer, and that is that under the act as it exists to-day they can invest in United
Life Insurance Companies
States real estate, but only up to sixty per cent of the value-and that is a little outmoded. The owners or purchasers of real estate for the most part do not pay forty per cent into it, and therefore it is most desirable to have the power to invest in real estate where the security is greater.
Subtopic: EXTENSION OF AUTHORIZED INVESTMENTS IN UNITED STATES SECURITIES