CO129-241 - Governor Des Voeus - 1889 [1-7] — Page 621

4.

618

5

· profits of the Bank. For presuming that the Securities intended to be lodged

are

such as would be permitted

to be taken

Trustees in

by England, the loss to the

Bank would be the

difference, as regards $5,791,838, between 3 per cent, and the av

average profit obtained on the -

Bank's capital, which can seareely per-cent,

be less than 10

or a sum

nearly approaching

approaching $400,000 per

annum.

3. While recognising-

the necessity of providing

against

a recurrence

of the

consequences which followed the failure of the Oriental Bank, I would draw -

attention to the fact

M. Noble)

(mentioned by that the notes of his

Corporation

are

already

far better secured than -

were those of the Oriental

Bank

:

1