Page:The Cyclopedia of India (Specimen Issue).pdf/131

 Managing Agents of the Bengal Bone Mills and the Nilgiri Granite and Stone 0)., Lil.

NATIONAL BANK OF INDIA, l.d., Calcutta. Established in 1863 in Calcutta, 'l‘his Brink has during its career of upwards of is years rapidly

THE CYCLOPEDIA OF IXDIA

the countries above mentioned. The Capital of the Bank is £i,000,000. of which one-half is paid up, and it has .1 reserve fund of if 500,000. The 75th report by the Directors showed a very satisfactory state of affairs obtain- ing for the year ended 3m December r904. After paying to its shareholders

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NATIONAL BANK or lxtita, Csu‘t rm.

expanded until now it is one of the largest and most important banking institutions in the East. The Head ("free is in London, where it was registered under the Companies Act of :86: in March H306, and the extent of the Bank's operations and inﬂuence on the trade of India. Burma, Ceylon. and East Africa, may be gauged by the number of its branches established throughout these countries, there being nine in India. two in Burma, three in Ceylon and three in East Atria, as also two at Aden. In former years the Bank also had branches ln Hons-Kong and Shanghai. but these Were relinquished some twenty-ﬁve years ago. the Bank conﬁning its operations to India and

stantial dividend of t e n per cent, an (1 al» to w t n g for con- siderable sums be. in; put t o t h e credit of H o u s e I'tuperly Account, rind the Hﬂ‘icers' I'etision Fund, a large sur~ plus still remain ed at the credit of proﬁt . . and loss account. The ma: jor por- tion oi this sur- rulus has been re. turned to the s h a r e holders in the unique way of distn~ buting amongst them une Bonus Share of £25 (on urhieh ,0: tax. is credit. ed as paid up) to each ﬁre shares held, thus practically nisking a tree present of a one halt full- paid up share to each holder of live shares. Fen banks trading in the East hate been thus able to reward so substan tially the confidence of its shareholders. and that the National Bank (I India has done so speaks higth tor the strength of its ﬁnancial position and the madness 0‘ its management both at home and abroad. Of course. this issue of bonus shares somewhat alters the upital account of the Rank. increasing the Subscribed Capital to £3,200,000 and the l‘aidup Capital

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to £600,000. Amongst the names on the Board of Directors are those of ses'eral gentlemen of lengthy Indian experience. and who are also deeply interested in the commercial progress and welfare of India. and to their extensive knowledge of the trade re- quiiemenu of the country, much of the success 0! the Bank's career is due. For many years the Bank's prc. niises iii lcutta were situated in Government Place. but the expansion of business necessitated, in i902, a remoral to more spurious othces Ill Clive Street. where they are now more centrally and conveniently situated.

The NEW YORK LIFE ASSUR- ANCE COMPASY a little \\ hile h' ck celehrnted its sixttcth anniversan lw a ultu‘t‘nllolt which included re iresentativesoi its field tort-v iriini til over the world An titling and Appropriate celebration ut the suc- cese it has achieved vthicli both in extent and in charartcrhasprnbably never been sur tossed iii the history of business. it methods oi secur- mg business. in the internal niiichin- ery at an ofﬁce equipped to carry
 * in almost unlimited ltllnlt‘niltt the

attitude of the (‘UI’PUTJIIUII itsvll inwards its constituent members, and to .1 large degree in its theories iii investment iii the policy holders' money, the past ten wars linu- placed the New York I.iic Insurance ('nm witty in at class by itself.

Vhen .\Ir. Franklin became President the ( omptmt' had .1 membership of

In 37 years oi Presi- dent Franklin's in- c u in he hey this membership w :i 5 increased by

In the 7 Vixirsiil I’ﬂ'il' dent Beers' iiictini- l-ericy this was still iurthct increased by. ..

.“tlklﬂ the total mem~ hers tip in February 180:, the datc of President McCall's election. .

During the 13 vents 0 President McCall's administration this in c m h ersltip has been increased by

Making the member- ship now. 945,000

2,000

84,000

100,000

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750,000