CO129-164 - Sir Kennedy - 1873 [7-9] — Page 112

110

Exeansry

2. In the construction of Seccio 16 of No3 of 1866 as to advances

to Discctors it must be understood that the Bank

is empowered to advanes bo the Dircetors as a

whole not

Mar

than

on 2

third

of the

total advances and disemuls,

and not to allow advances to that extent to each indivisual Director.

To return to the question of Branch Banks and Agencies out of the Colony, I should mention that The Lads of the Treasury originally transmitted through