Sir James Lyle Mackay, K.C.LE., the other Director retiring by rotation, was also re-elected, on the motion of the Chairman, seconded by Sir Alfred Dent, K.C.M.G.
Mr. Robert Harvey proposed the re-election of Mr. Maurice Nelson Girdlestone as auditor for the ensuing year.
The motion was seconded by Mr. B. Smyth, and carried.
Mr.' Magnus Mowat was elected an auditor for the ensuing year in lieu of Mr. William Vanner retired, and the remuneration of each of the auditors was increased from £75 to £100 per annum, on the motion of Mr. Harvey, seconded by Mr. Smyth.
Mr, Mowat proposed a vote of thanks to the Directors and Staff for their management of the affairs of the Bank.
Mr. Harvey, in seconding the motion, drew special attention to the valuable services of the staff both at home and abroad. He thought they might confidently expect that the Bank would maintain the distinguished position it now occupied under the able management of Mr. Forrest.
The motion was unanimously adopted.
The Chairman: On behalf of myself, my colleagues, and the staff, I beg to tender you our best thanks.
The proceedings then terminated.—Money Market Review.
Text read from the printed page and cleaned; old type leaves the occasional error.