DEPARTURE FROM HISTORIC TRADITION
'COMPTROLLER. OP BANK OF ENGLAND. APPOINTED. , ! ' (Rec. May 5, 5.5 p.m.) , i London, May i. ; j The appointment of Sir Nairne ;o the newly-created post of Comptroller if tho Bank of England marks a striking departure • from traditional policy. . Hitherto no position-.equivalent to that : >f- general manager has existed—Aus.- ] Sf.Z. Cable Assn. i [Hitherto the management of the Ban's j >f England has been vested in a gover- ; lor, a deputy-governor, and 2-i directors, ilected by stockholders who have held , £500 worth of stock for at least six ,- nonths prior to the election. A director -; s required to hold ,£2OOO, the deputy- : ;overnor .£3OOO, and .the governor, .£4OOO 1 if tho stuck. The court, or board of dir- ! ictors, meets every Thursday, when the ■ vcekly account is presented. The two j •oveniors have the chief administration ] if the institution, and attend daily at 1 "lie bank. Sir Gordon Nairne has been I thief cashier of the Bank of England ;ince 1902.]
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Dominion, Volume 11, Issue 194, 6 May 1918, Page 6
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165DEPARTURE FROM HISTORIC TRADITION Dominion, Volume 11, Issue 194, 6 May 1918, Page 6
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