In previous years, the Bank commenced to conduct such trust business fas the custody of stocks and bonds, acting as insurance agent, collection of rentals and management of estates, ete. During the year under review, Ht was felt that in view of the growing needs of modern society, the trust business should be more' thoroughly developed. Accordingly, with the approval of the Government, Bye-Laws of the Trust Department were revised to permit extension of His scope of activities, and it is me tended to assign a special fund in the near future to the Trust Department that grealor security for clients may be assured, During the year under review, aside from adhering to established policy of employing new men by competitive examination and the retention of old men strictly on the basis of merit, a new set of regulations was promulgated relative to the discharge of employees. In addition, special accounting class was inaugurated to train all probationary. clerks and existing employees in accounting, factory training to assist jin the granting of loans, and college graduates, employed as' special yro-Bationary' employees in 1034, were sent to various cement, paper-making, chemical and electrical factories and colton mills to receive factory training, afler which they were given special duties in the bank requiring technical knowledge: enlargement of the bank library. Specifically, the chairman proposed the introduc tion of re-hypothecation which has the same effect as the discounting of bills in preserving liquidity in the market as only through re-hypothecation will increase granting of loans against hypothecated securities possible; promotion of corporation Aobentures as one, of the principal means of securing Popular investment fin industries and commerce; promotion of export of such native pro-duets as silk, cotton, tea, and mining. and agricultural products, extension. of the Bank's business in the interior to bring about a balance between rural and urban economy; further construction of modern godowns, for, whereas the Bank is among the first in the country to have modern godowns, more godowns should be
Text read from the printed page and cleaned; old type leaves the occasional error.