Investments Abroad

Investments Abroad: International Incident

In the book “International Incidents for Discussion in Conversation Classes”, in relation to this subject, L. Oppenheim wrote in 1909: Armand Brunetière, a French merchant in Paris, who has never been in England, instructs a broker on the London Stock Exchange to buy £1,000 worth of consols, and to keep the stock at his disposal. The order is carried out, and six months afterwards Brunetière dies. His heirs claim the stock, but the English brokers refuse to hand it over unless the English estate duty, which is claimed by the officials of the Inland Revenue, has first been paid.